Reinsurance News
LMG appoints Caroline Wagstaff interim CEO
18th March 2021
London Market Group has announced the appointment of Caroline Wagstaff as interim Chief Executive Officer. LMG says Wagstaff will be seconded on a part time basis from 1 April till the end of 2021, replacing outgoing CEO Clare Lebecq. Matthew Moore, Chairman of the LMG commented, “We are delighted that Caroline is ... Read the full article
Concirrus adds Paul Jardine to new advisory panel
18th March 2021
London-based marine and automotive insurtech firm, Concirrus, has established a new advisory panel comprised of global insurance and technology market experts with decades of industry experience. Over the last 24 months, Concirrus has expanded its client base of respected market leaders with the likes of Hiscox, Marsh, Willis ... Read the full article
Tokio Marine HCC Intl. hires Des Burke from Lloyd’s as CIO
18th March 2021
Tokio Marine HCC International, a member of Tokio Marine Group, has named Des Burke, formerly of Lloyd's of London, as its new Chief Information Officer (CIO), under the direction of Thibaud Hervy, Chief Underwriting Officer (CUO), Specialty Lines division. Joining from Lloyd's, where he most recently served as Chief Technology Officer ... Read the full article
Ed Messer joins Gallagher Re
18th March 2021
Specialist reinsurance broker Gallagher Re has announced the addition of Ed Messer as a Partner at the firm. Messer joins Gallagher Re from Aon, where he most recently served as Head of UK Analytics, based in London. "We are absolutely delighted that Ed has chosen to join Gallagher Re at this exciting ... Read the full article
R&Q raises stake in Tradesman; divests Roosevelt Road Re interest
18th March 2021
Randall & Quilter Investment Holdings Ltd. (R&Q) has reached an agreement to raise its stake in Tradesman Program Managers, LLC, a New York-based Managing General Agent (MGA), from 35% to 40%. R&Q acquired its stake in Tradesman Program Managers in August of last year through the merger of its wholly ... Read the full article
Swiss Re notes long-term earnings potential, optimism for the year ahead
18th March 2021
Although global reinsurance giant Swiss Re fell to a net loss in 2020 on the back of a significant COVID-19 impact, the underlying business results remained strong and the company is optimistic about the future. Early this morning, Swiss Re published its 2020 Annual Report, Sustainability Report, and the agenda for ... Read the full article
Munich Re’s private client arm launches personalised tech-enabled offering
18th March 2021
Munich Re’s private client arm GrovesJohnWestrup has launched a new offering designed to offer a digital platform for insurance brokers and intermediaries. GrovesJohnWestrup’s offering is available via a digital portal platform that adopts a data-driven approach to provide fast response times regardless of the size or complexity a client requires. The offering ... Read the full article
Miller bolsters marine capabilities with Steve Barness hire
18th March 2021
Specialist re/insurance broker Miller has announced the addition of marine hull specialist Steve Barness to its team. Barness will be joining Miller’s team of Marine specialists to help arrange insurance solutions relating to hull & machinery, disbursements and other marine interests for hundreds of shipping companies across the globe. He has worked ... Read the full article
Berkshire (BHSI) appoints Keith Freid to Product Line Officer role
18th March 2021
Berkshire Hathaway Specialty Insurance (BHSI) today announced the appointment of Keith Freid as Product Line Officer for Private & Nonprofit Management Liability Insurance in North America. Freid comes to BHSI with nearly 30 years of industry experience spanning both D&O underwriting and claims. He was most recently Head of Private and Non-Profit ... Read the full article
Justin Balcombe to co-head insurance practice at L.E.K. Consulting
18th March 2021
Global management consulting firm L.E.K. Consulting has announced the appointment of Justin Balcombe as a partner to co-head the firm’s Insurance practice. Based in London, he joins L.E.K. from Oliver Wyman, where he was a partner in its global insurance practice. At L.E.K., Balcombe will lead insurance practice alongside partner Ashish Khanna. Balcombe ... Read the full article
Swiss Re & Hannover Re warn of COVID-19’s claim tail & litigation risk
17th March 2021
Two of the world's largest reinsurance firms are warning that while the immediate losses caused by the global COVID-19 coronavirus pandemic may be largely reserved for, both expect a longer-tail of exposure to develop over time. There is great uncertainty over the potential for the COVID-19 pandemic to drive losses to ... Read the full article
Paul Witzenfeld launches fac reinsurance business via Asta’s MGA platform
17th March 2021
Lloyd's of London third-party managing agent, Asta, has announced the launch of a new facultative reinsurance underwriting business through its flexible MGA platform, which will be led by Paul Witzenfeld. The new underwriting business will begin accepting worldwide property facultative reinsurance risks, with a focus on primary and first-layer placements, from ... Read the full article
RMS, TigerRisk announce expanded multiyear agreement
17th March 2021
Catastrophe risk modeller RMS and re/insurance broker TigerRisk Partners have expanded their existing partnership to include additional models and data as part of a new multiyear agreement. With this new agreement, TigerRisk can access the full RMS global natural catastrophe risk models suite. This suite includes RMS High Definition Models such as ... Read the full article
Progressive in $40mn reinsurance recovery for US winter storms
17th March 2021
The Progressive Corporation, a provider of personal and commercial insurance throughout the U.S., recorded a $40 million reinsurance recoverable in February owing to damages caused by the severe winter weather across southern parts of the country. During the month, Progressive recorded catastrophe losses of $87 million, resulting in a net catastrophe ... Read the full article
AXIS and Elpha Secure enter cyber insurance partnership
17th March 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, and Elpha Secure, a cyber security company have entered a strategic partnership to provide cyber insurance and software protection to small businesses to help improve their cyber security. Elpha Secure offers Elphaware, a Software as a Service (SaaS) application used ... Read the full article