Reinsurance News
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
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
