Reinsurance News
Howden announces UK launch of Telematics Data Services
31st May 2023
International insurance broker Howden, has announced the launch of its Telematics App & Data Beacon ‘Howden Drive’ in the UK insurance market to help lower motor insurance premiums for customers. Howden Drive will also help to optimise loss ratios for brokers and insurers, as well as to improve road safety. Its ... Read the full article
Helios Underwriting announces syndicate capacity forecasts for 2021 and 2022 years of account
31st May 2023
Lloyd's focused investment vehicle, Helios Underwriting, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2021 and 2022 years of account, based on 1st quarter 2023 estimates. The company, which acquires and consolidates private underwriting capacity at Lloyd’s, recorded a capacity position of £296.7 million for ... Read the full article
Palomar completes June reinsurance renewal
31st May 2023
Palomar Holdings, Inc., has successfully completed its June 1 reinsurance renewal, securing a tower that extends to a $2.68 billion first-event. The firm said that its reinsurance coverage now exhausts at $2.68 billion for earthquake events, which includes $17.5 million of additional limit incepting September 1, 2023, $900 million for Hawaii ... Read the full article
Stability and relative performance key factors in Lloyd’s follow-only underwriting decisions: ICMR
31st May 2023
In the ever-evolving world of insurance underwriting, traditional practices have given way to technological advancements. While brokers once had to physically visit Lloyd's underwriting room to seek follow capacity, the landscape has shifted dramatically. Nowadays, online broker platforms allow for risk placement, enabling underwriters to access crucial information through APIs. However, ... Read the full article
Swiss Re’s Oehy to succeed Hitz as PERILS CEO
31st May 2023
Zurich-based catastrophe insurance data provider, PERILS has announced the appointment of Christoph Oehy as Chief Executive Officer (CEO), succeeding current CEO Luzi Hitz who is stepping down from the role. Oehy’s appointment will be effective 1 November 2023. As CEO he will be responsible for leading the PERILS teams across Europe, ... Read the full article
Fidelis MGU promotes Beckert & Adams to lead International & US reinsurance
31st May 2023
Fidelis Managing General Underwriter has promoted Nadia Beckert to the Head of International Reinsurance and Kevin Adams to the Head of US Reinsurance. Beckert is a market veteran who has been with Fidelis Insurance for about two years, she served as the Senior Underwriter for the company while having started as ... Read the full article
Universal completes combined 2023-24 reinsurance program for subsidiaries
31st May 2023
Universal Insurance Holdings, Inc. has announced the completion of its combined 2023-2024 reinsurance program, effective June 1, 2023, by Universal Property & Casualty Insurance Company and American Platinum Property and Casualty Insurance Company, its wholly-owned insurance company subsidiaries. UPCIC and APPCIC set the top of their combined ... Read the full article
McGill and Partners hires former Aon GRS CEO Stubbings as Partner in Bermuda
31st May 2023
Specialist re/insurance broker McGill and Partners has appointed Peter Stubbings as Partner in Bermuda. Stubbings was most recently Aon Reinsurance Solutions’ Chief Executive Officer of Global ReSpecialty. Global ReSpecialty is the division of Aon that is focused on specialty property, other reinsurance and retrocession broking. Stubbings previously worked at Guy Carpenter, where ... Read the full article
FWD Group hires former SiriusPoint CEO Sid Sankaran as its CFO
31st May 2023
Pan-Asian life insurance company FWD Group Holdings Limited has announced the hiring of former SiriusPoint CEO Sid Sankaran as Managing Director and Group Chief Financial Officer (CFO). Sankaran will take on his new role at FWD Group from September 1st 2023, subject to regulatory approval, but joins the company as a ... Read the full article
Swiss Re launches new Centre of Competence for Renewable Energy
31st May 2023
Global reinsurer Swiss Re has today launched a new Centre of Competence for Renewable Energy, bringing together the giant reinsurance balance-sheet of the firm with focused expertise to deliver products to help clients manage their renewable energy portfolios. Swiss Re's new Centre of Competence for Renewable Energy will be run by ... Read the full article
Seema Bradbury joins Asta Capital as Chief Risk Officer and Executive Director
31st May 2023
Seema Bradbury has joined Asta Capital Limited, a third-party managing agent at Lloyd’s, as Chief Risk Officer and Executive Director. Bradbury joins this newly created role in Asta Capital from AXIS (AXIS Capital), where she served as the Group Risk Director and Chief Risk Officer. Prior to this, Bradbury held various senior ... Read the full article
P&C insurers upping their digital presence to attract rising surge of shoppers: J.D. Power
31st May 2023
Historic rate increases within the P&C insurance industry have “pushed” a record-high volume of shoppers into the online marketplace to seek new quotes and switch carriers. Research from J.D. Power’s 2023 US Insurance Digital Experience Study shows that insurers have been addressing the needs of those shoppers via the digital channel. According ... Read the full article
Zimre Holdings posts positive underwriting result in Q1
31st May 2023
Zimre Holdings Limited has released its Q123 results. In a statement released by the company, it notes that the first quarter of 2023 saw the global economy heading for a “potential financial crisis” as financial markets and the banking sector were thrust into turmoil as a result of the “tightening of ... Read the full article
Gallagher Re names new CEO for China & Hong Kong, and Head of Beijing
31st May 2023
Reinsurance broker Gallagher Re has made senior appointments in China, with a new CEO for the Mainland China and Hong Kong business, as it hired Jia Lou from rival Guy Carpenter to take on the role. Jia Lou is a well-known figure in the China insurance and reinsurance marketplace, and has ... Read the full article
FHCF forecasts $17 billion liability for 2023-2024 contract year
30th May 2023
The Florida Hurricane Catastrophe Fund (FHCF) expects $17 billion in maximum potential liability for the contract year June 1, 2023 to May 31, 2024. This consists of an estimated total liquid resources of approximately $7.2 billion, consisting of projected year-end fund balance of $3.7 billion and pre-event bond proceeds of $3.5 ... Read the full article
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