Reinsurance News
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
Lockton strengthens its Intangible Asset and Contingent Liability practice with new hires
30th May 2023
Global insurance broker Lockton has announced the addition of Jason Sandler and Craig Taylor to its Intangible Asset and Contingent Liability practice. This division operates within the broader Transaction Liability practice and focuses on providing innovative solutions to address the challenges associated with intellectual property (IP) matters and associated credit and ... Read the full article
WTW launches intangible asset policy
30th May 2023
Global broker WTW has announced the launch of a financial product targeting clients looking to protect their intangible assets. Described as a first-of-its-kind product, WTW said its Intangible Asset Protection (IAP) looks to meet client demand and to fill a coverage gap in the market. An intangible asset is one that is ... Read the full article
Corvus Insurance unveils new cyber risk prevention solution, Corvus Signal
30th May 2023
Cyber MGA Corvus Insurance has unveiled Corvus Signal, a risk prevention solution which the firm says has been shown to reduce cyber breach frequency and cost by up to 20%. Corvus states that the announcement comes amid increasing market activity and interest in combining cyber insurance with risk management services. "Corvus Signal ... Read the full article
FG Financial Group’s reinsurance unit posts over $1 million in Q1 net underwriting profit
30th May 2023
FG Financial Group reported that its reinsurance division posted net underwriting profit in the first quarter of 2023 of over $1 million. According to the firm, the profit was driven by strong profitable growth in net written premiums as the company executes its strategy to deploy capital to highly structured loss-capped ... Read the full article
Alta Signa Europe names Sytse Huidekoper as D&O and FI Manager for Benelux region
30th May 2023
European boutique Managing General Agent (MGA), Alta Signa Europe B.V. appointed Sytse Huidekoper as the Director and Officer (D&O) and Financial Institutions (FI) Manager for the Benelux region. This strategic move further strengthens Alta Signa's presence in the Benelux market. With over a decade of experience in the Financial Lines sector, Huidekoper ... Read the full article
Verisk acquires Morning Data to bolster solutions for brokers & MGAs
30th May 2023
Verisk a global data analytics and technology provider, has announced that it has acquired Morning Data, a supplier of state-of-the-art software to brokers and managing general agents in London and across the globe. This acquisition enables Verisk to enhance and expand its solutions for straight-through processing and distribution to the growing ... Read the full article
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