Reinsurance News
Global minimum tax rules are topic number one: Scott Slater, PwC Bermuda
26th May 2023
The introduction of rules to enforce a global minimum tax rate for large enterprises, which will include many insurance and reinsurance firms, is the highest priority topic for most tax leaders, according to Scott Slater of PwC Bermuda. Scott Slater is a a Partner and the Tax Services ... Read the full article
Helios Underwriting sees GWP rise 131% in 2022 despite loss of £1.3m
26th May 2023
Despite reporting a total comprehensive loss in 2022 of £1.3m, Helios Underwriting's retained capacity for the 2023 open underwriting year increased by 34% to £238m, as the firm states it is "well positioned to maximise the opportunities on offer in this disciplined market." Gross written premiums in 2022 increased by a ... Read the full article
AXA and Allianz have announced their exit from the NZIA
26th May 2023
Two more big firms namely AXA and Allianz have announced their exit from the NZIA. This news comes in post comments made by John Neal the Chief Executive of Lloyd’s of London to Reuters urging the global climate alliance for insurers to make its membership rules less prescriptive or risk ... Read the full article
Canadian insurance market continues to show “steady growth”: CatIQ
26th May 2023
Catastrophe Indices & Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, has released the annual update of its Canadian insurance Industry Exposure Database (IED). According to the latest IED update, the Canadian insurance market continues to show “steady growth” for personal lines specialty perils cover in the 2022 year-end dataset. Since ... Read the full article
Slide Insurance places reinsurance program for 2023 hurricane season
26th May 2023
Full-stack homeowners insuretech Slide Insurance has completed its reinsurance program for the 2023 hurricane season, bolstering its ability to protect policyholders across Florida and South Carolina. According to Slide, its reinsurance program exceeds regulatory and rating agency requirements. The comprehensive reinsurance tower protects the firm to the 185-year return period, reduces retention ... Read the full article
SiriusPoint appoints new Chief Technology Officer
26th May 2023
SiriusPoint Ltd., a global specialty re/insurer, has announced the appointment of Nestor Lopez to the Executive Leadership Team as Chief Technology Officer. Prior to this Lopez, was most recently Chief Information Officer. He joined SiriusPoint in 2022 and was reporting to Darryl Siry, who he will be replacing, Lopez takes on leadership ... Read the full article
Long-term mortality improvement trends for insurance in the near future: Swiss Re
26th May 2023
Swiss Re is forecasting long-term mortality improvement trends for insurance. The company’s latest report, “The Future of life expectancy” shows that although, gains in human longevity have tapered off over the last decade, the next wave of improvements is on its way. Life expectancy improvements typically come in waves following major ... Read the full article
IQUW’s Hannah Wyatt joins Argenta to build out property portfolio
26th May 2023
Argenta Syndicate Management Limited (ASML) has appointed Hannah Wyatt as Direct and Facultative property underwriter, US & International. In her new role, based in London, Wyatt will be responsible for growing Argenta’s direct and facultative open-market property (D&F) business. According to the announcement, she will take up her role later this year ... Read the full article
Pacific Life Re names Matt Logan as VP of Finance for Europe Business Unit
26th May 2023
Pacific Life Re, a global provider of mortality, morbidity, and longevity reinsurance solutions, has appointed Matt Logan as its new VP, Finance in the Europe Business Unit. Logan will join Pacific Life Re Europe's Finance team and play a crucial role in supporting the company in delivering core reporting while driving ... Read the full article
FTI Consulting & BHB Dullemond set to expand M&A services in the Netherlands & Belgium
26th May 2023
FTI Consulting, Inc., a global business advisory firm, and BHB Dullemond, a Dutch corporate finance firm that specialises in transactions in insurance distribution, have announced a strategic alliance to provide M&A services to the insurance distribution sector in the Netherlands and Belgium. Through this alliance between the two companies, clients in ... Read the full article
KCC selected by SynchronoSure for risk modeling applications
26th May 2023
Karen Clark & Company (KCC) has announced that the Synchrono Group (SynchronoSure) has licensed KCC’s full suite of US catastrophe models, delivered through the company’s new and advanced underwriting application. The new tool is powered by KCC’s high-resolution modelling analyses that drive the underwriting and decision-making processes for complex commercial policies. The ... Read the full article
Asta announces key appointments to strengthen leadership team
26th May 2023
Lloyd’s third-party managing agent Asta appointed Seema Bradbury as Chief Risk Officer, while Liz Catchpole joins as an independent Non-Executive Director and Chair of the Audit Committee. These appointments follow strategic board changes made last year as part of Asta's long-term succession planning. With over two decades of experience in the London ... Read the full article
NOAA forecasts near-normal 2023 Atlantic hurricane season
25th May 2023
The National Oceanic and Atmospheric Administration (NOAA) has forecast a near-normal level of activity during the 2023 Atlantic hurricane season, which officially commences on June 1st, 2023. For the upcoming Atlantic hurricane season, the NOAA says that there's a 40% chance of a near-normal season, a 30% chance of above-average activity, ... Read the full article
Kin completes $860 million nat cat reinsurance program
25th May 2023
Homeowners insurtech Kin Insurance has announced the successful completion of its reinsurance program for the Kin Interinsurance Network in Florida. The program, covering the period from June 1, 2023, to May 31, 2024, offers extensive coverage of $860 million for natural catastrophes. This reinsurance initiative provides protection up to a one-in-200 year ... Read the full article
SCOR announces NZIA withdrawal and new sustainability commitments
25th May 2023
Global insurer SCOR is withdrawing from the Net-Zero Insurance Alliance (NZIA), CEO Thierry Léger announced during the company’s most recent Annual General Meeting. Léger also announced SCOR’s new sustainability commitments which include a new policy on gas among others. This states that the reinsurer will no longer cover new gas field development ... Read the full article
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