Reinsurance News
Beazley’s Lodestone hires its new Chief Executive Officer
9th May 2023
Beazley’s wholly-owned subsidiary, global cybersecurity firm Lodestone, has announced the hire of Alton Kizziah as its new Chief Executive Officer. Lodestone specialises in incident response, digital forensics, offensive security, and threat detection. Kizziah is an information security expert. In his new role, he will focus on expanding the senior leadership team, adding ... Read the full article
Monarch E&S expands footprint with acquisition of Commonwealth Underwriters
9th May 2023
Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has announced its acquisition of the assets of Commonwealth Underwriters, Ltd., a specialty lines MGA and wholesale broker that has a strong presence within key markets across the US. The acquisition represents a strategic move for Monarch E&S as the ... Read the full article
Strait of Hormuz tensions could drive $227bn loss in crude oil exports: Russell Group
9th May 2023
Iran has seized an oil tanker in the Strait of Hormuz in the second such incident in the region in a week, as tension with the United States continues, something the Russell Group says could lead to financial stress for the oil and maritime sectors. The Middle East-based US 5th Fleet ... Read the full article
RSA Insurance launches new superyacht practice
9th May 2023
RSA Insurance has announced that it is to expand its marine offering with the launch of a new superyacht practice, led by Emily Grew, who will join as a Senior Yacht Underwriter in July. RSA states that superyacht ownership has grown significantly in recent years, with purchases of luxury vessels (longer ... Read the full article
Distinguished names Kurt Meister Chief Sales Officer
9th May 2023
Distinguished Programs, a national insurance program manager, has announced the appointment of Kurt Meister to the role of Chief Sales Officer (CSO). As CSO Meister will lead strategic partnerships with national brokerages, establish a world-class sales training program, and develop a robust business development playbook. He will also support new business production ... Read the full article
Andrew Kay to lead Amwins Specialty Casualty Solutions
8th May 2023
Andrew Kay has been appointed president of Amwins Specialty Casualty Solutions (ASCS), part of Amwins Underwriting. He succeeds Munawar Ali, who led ASCS since its launch in 2011 and has moved into a new firm-level role focused on product development for Amwins. In his new role, Kay will lead one of the ... Read the full article
AM Best upgrades ratings of FairFax Financial & Allied World
8th May 2023
Global rating agency AM Best has upgraded Long-Term Issuer Credit Rating (Long- Term ICR) to “bbb+” (Good) from “bbb” (Good) and the Long-Term Issue Credit Ratings (Long-Term IR) on the unsecured debt and preferred equity of Fairfax Financial Holdings Limited (Fairfax) (Toronto, Canada). At the same time, Best has also upgraded ... Read the full article
Talanx names Simone Auer Chief Risk Officer
8th May 2023
Simone Auer has been appointed to the role of Chief Risk Officer for Talanx, Hannover Re’s parent company. She succeeds Professor Dr Gerhard Stahl, the long-term head of Group Risk Management who will stay on with the Group as Research Advisor. Auer will be taking over the role starting May 1, ... Read the full article
Canopius appoints two to bolster P&C reinsurance offering in APAC
8th May 2023
Global specialty re/insurer Canopius Group has appointed Andrew Parker as Head of Treaty, Australia & New Zealand and Head of Casualty Treaty, Asia Pacific and Paul Wedlock as Head of Property Treaty, Australia & New Zealand, effective immediately. Based in Sydney, Canopius states that Parker and Wedlock will lead the expansion ... Read the full article
Berkshire Hathaway P&C reinsurance premiums soar 30% in Q1 2023
6th May 2023
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, has reported a strong quarter of growth for its property and casualty (P&C) reinsurance operations, with premiums written rising by 30% in the period, with the inclusion of TransRe a significant driver of that growth. However, at the same time, Berkshire Hathaway's ... Read the full article
Most coverage lines stabilising, D&O holds softest rates: WTW
5th May 2023
WTW, a global advisory, broking and solutions company has released its latest Insurance Marketplace Realities (IMR) report, showing that most coverage lines continue to demonstrate a stabilizing market trend that began in early to mid-2022. While a lot of coverage lines are demonstrating increases, analysts say they are more manageable than ... Read the full article
Resilience promotes Tom Egglestone to Global Head of Claims
5th May 2023
Cyber insurer Resilience has promoted Tom Egglestone to the role of Global Head of Claims. Egglestone, who joined the firm in July 2022 as International Claims Leader, UK and Europe, will now be supporting Resilience’s clients globally within his new role. A well known veteran within the cyber insurance community, Egglestone ... Read the full article
NFIP’s Hurricane Ian payouts near reinsurance trigger
5th May 2023
New data from FEMA shows that its National Flood Insurance Program (NFIP) has paid out over $3.9 billion in claims related to Hurricane Ian to date, meaning the Agency is on the cusp of triggering the bottom layer of protection in its flood reinsurance tower. The NFIP payout figure, released on ... Read the full article
DUAL Europe names Kajsa Peedu as Managing Director of Nordics
5th May 2023
DUAL Europe has appointed Kajsa Peedu as Managing Director of DUAL Nordics. Peedu, who has 29 years of experience in the insurance industry, will be based in Stockholm, Sweden, and will also oversee operations in Norway and Denmark. This move is expected to give DUAL a reach in 17 European countries. Peedu ... Read the full article
Gallagher’s Williams-Walker to head LMG’s Technical Group for Data Council
5th May 2023
The London Market Group's (LMG) Data Council has appointed Nick Williams-Walker from Gallagher to lead its Technical Group. Williams-Walker, Chief Operating Officer of Gallagher's Specialty division, has agreed to become the new Chair of LMG Data Council's Technical Group, replacing Jonathan Prinn. Prinn will remain a member of the Data Council. The Technical ... 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.
