Reinsurance News
Fortegra hires Abigail Taylor as Chief Operating Officer
1st June 2023
The Fortegra Group, a specialty insurer and subsidiary of Tiptree Inc., has appointed Abigail Taylor as Chief Operating Officer. At the same time, the company has also named Joe Lettween as Chief Innovation, Data Science, and Technology Officer. According to Fortegra, both hires bring a level of expertise and experience amongst Fortegra’s senior leadership across ... Read the full article
Stephen Dzury joins Premia Reinsurance as Senior Vice President, Claims
1st June 2023
Stephen Dzury has joined reinsurance run-off group Premia Holdings Ltd.'s subsidiary, Premia Reinsurance Ltd., as Senior Vice President of Claims. Previously, Dzury served as Senior Vice President of Casualty Claims at IAT Insurance Group. Dzury has also served as Senior Vice President of Claims at Berkley Public Entity (a Berkley Company), Vice ... Read the full article
Toka Tū Ake EQC renews record reinsurance program, gets first cat bond
31st May 2023
New Zealand’s state-owned residential property disaster insurance entity, Toka Tū Ake EQC, has completed a renewal for a record level of reinsurance of just under $8.2 billion for New Zealand homeowners, including reinsurance via catastrophe bonds, which it has secured for the first time. Toka Tū Ake EQC Chief Executive, Tina ... Read the full article
APCIA ceases writing new property policies in California
31st May 2023
The American Property Casualty Insurance Association (APCIA) responding to State Farm’s announcement has said that they will no longer write new property insurance policies in California. Only days ago, the US primary insurance giant State Farm stated that it was ceasing to underwrite commercial and residential property in the State ... Read the full article
AM Best upgrades credit ratings of Convex Group Limited’s subsidiaries
31st May 2023
AM Best has upgraded the Financial Strength Ratings to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of the Convex Group Limited subsidiaries Convex Re Limited (CRL), Convex Insurance UK Limited (CIL), Convex Europe S.A. (CES) and Convex Guernsey Limited (CGU). The ... Read the full article
LGRA & RGA enter into $309m PRT transaction with PPG
31st May 2023
Legal & General Retirement America (LGRA) & Reinsurance Group of America (RGA) have entered into a $309 million pension risk transfer (PRT) transaction with PPG. PPG is a Pittsburgh-based Fortune 500 global leader in manufacturing paints, coatings and specialty materials. The lift-out covers over 4,000 retirees and beneficiaries with benefits under a ... Read the full article
Duck Creek names Chris McCloskey as Chief Operating Officer
31st May 2023
Duck Creek Technologies has announced the addition of Chris McCloskey to its leadership team as Chief Operating Officer. Duck Creek states that the addition of McCloskey will be instrumental in driving key strategy, operational and transformation initiatives across the entire business, particularly within its customer and professional services organisations. McCloskey joins Duck ... Read the full article
UK P&I Club surpasses $500 million milestone in gross written premium
31st May 2023
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services to the international shipping community, reported surpassing the milestone of $500 million in gross written premium for the first time, driven by the expansion of its fixed premium P&I business. This growth was accompanied by an ... Read the full article
Chaucer names Andrew Pearce as Independent Non-Executive Director
31st May 2023
Specialty re/insurance group Chaucer appointed Andrew Pearce as an Independent Non-Executive Director on the CSL Board. Pearce will also serve on the Audit Committee, Risk and Capital Committee, and Remuneration and Nominations Committee. The necessary regulatory formalities have been completed to support his appointment. Pearce previously served as Managing Director at Accenture ... Read the full article
Argenta Private Capital announces integration of tax and corporate services unit
31st May 2023
Argenta Private Capital Limited (APCL), an advisor to private investors at Lloyd’s, has integrated its tax and corporate services units to better support clients’ ever-changing needs. Argenta Tax and Corporate Services Limited (ATCSL) provides tax, accounting and company secretarial services primarily to the Lloyd’s market and has a reputation within the ... Read the full article
Cowbell & Skyward Specialty announce partnership to expand cyber & tech E&O coverage
31st May 2023
Cowbell, a provider of cyber insurance for small & medium-sized businesses (SMEs) and Skyward Specialty Insurance Group, have entered into a partnership that expands Cowbell's coverage and capacity of its Prime 250 Cyber Liability and Prime Tech. Prime 250 Cyber Liability and Prime Tech is a recently introduced program that safeguards ... Read the full article
Hurricane forecasts exhibit more uncertainty than normal: Moody’s RMS
31st May 2023
Moody's Risk Management Services (RMS) highlighted that this year's hurricane forecasts are experiencing heightened uncertainty, attributed to various factors influencing the predictions. The forecasts take into account crucial oceanic and climate factors that have historically impacted hurricane activity in the region, namely the El Niño-Southern Oscillation (ENSO) and North Atlantic sea ... Read the full article
VIG reports double digit premium growth across all segments for Q1 2023
31st May 2023
Vienna Insurance Group reports double-digit premium growth in Q1 2023. The Group’s solvency ratio is at 284% which remains stable against the figure of 280% at the end of 2022. Despite numerous economic and geopolitical uncertainties, VIG remains cautiously optimistic for 2023 as a whole and still aims for a ... Read the full article
Data key to effective captive insurer formation: David Gibbons, PwC Bermuda
31st May 2023
The most important thing about setting up new captive insurance structures is access to data, according to David Gibbons of PwC Bermuda. Gibbons is a Partner and the Captive Insurance Leader at PwC Bermuda, working with some of the largest captive accounts in the world and delivering captive ... Read the full article
Inigo hires James Creasy as Head of Cyber Insurance
31st May 2023
Specialty insurer and reinsurer Inigo Limited has appointed James Creasy as its Head of Cyber Insurance. With a well-established background in cyber & technology insurance, Creasy will provide strategic insights that are necessary to protect Inigo's clients. He brings a strong level of expertise in underwriting from Axis Capital, one of the ... Read the full article
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