Reinsurance News
Strategic Risk Solutions hires Anna Pereira as SVP for ILS
24th February 2021
Strategic Risk Solutions has appointed Anna Pereira as Senior Vice President, Insurance-Linked Securities (ILS). Pereira will be based in Bermuda and report to Managing Director Jonathan Reiss. She will have the responsibility of supporting SRS’s ongoing expansion in the ILS and fund administration sectors. Pereira has over 25 years of experience in the ... Read the full article
Zurich looks to simplify the structuring of international insurance programs
24th February 2021
Global re/insurer Zurich Insurance Group has further developed its Multinational Insurance Application with the launch of its new Zurich Global Program Support (GPS) Tool, designed to simplify the process of structuring international insurance programs. The new tool provides large multinational businesses with valuable information to aid in the design of international ... Read the full article
Aviva announces exit from Turkey
24th February 2021
London-headquartered insurer Aviva has announced that it plans to exit the Turkish re/insurance market via a sale of its shareholding in AvivaSA Emeklilik ve Hayat AS (Aviva SA). Aviva has agreed to sell its entire 40% shareholding in the Turkish join venture to Ageas Insurance International N.V. Ageas will pay a cash ... Read the full article
Ageas improves 2020 result despite pandemic challenges
24th February 2021
Brussels-headquartered multinational insurer Ageas has reported a 16.5% improvement in its net result for 2020, despite significant operation challenges and losses due to the pandemic. The 2020 Group net result stood at €1.14 billion, thanks to a strong underwriting performance and the positive impact of FRESH transactions on its general account This ... Read the full article
Skuld achieves 5.5% growth in 2021 P&I renewals
24th February 2021
Marine insurer Skuld has announced that its mutual P&I gross tonnage (G) increased by 5.5% to 101 million following its renewals for the 2021 period. The company also increased its market share across all other lines of business, including hull and energy and all aspects of its commercial P&I operations. "We are ... Read the full article
Growth of digital healthcare creating unforeseen risks: WTW
24th February 2021
Global re/insurance broker Willis Towers Watson has released a report which explores how COVID-19 and the trend towards the digitisation of medicine is resulting in a rapid technological change. In the report, the broker also noted that digitisation is creating emerging risk issues and may result in healthcare risk managers reassessing ... Read the full article
Marsh partners with Unqork on placement, policy management platform
24th February 2021
Re/insurance broker Marsh has partnered with software firm Unqork on a new digital platform designed to streamline insurance placement and policy management services in the US. The platform will aim to create a digital workspace where Marsh's brokers and the insurers they work with can quickly perform key placement and policy ... Read the full article
Liberty Mutual posts Q4 net income of $162mn
24th February 2021
US primary insurer Liberty Mutual has reported a fourth quarter net income of $162 million, up from the $301 million loss posted in the prior year period. Net written premiums during Q4 topped $10.095 billion, an increase of $344 million over the same period in 2019. The consolidated combined ratio before catastrophes ... Read the full article
TransRe fails to shake underwriting loss in Q4
24th February 2021
Alleghany Corporation has posted underwriting profit of $16.5 million in the fourth quarter of 2020, despite another period of losses for its reinsurance arm, TransRe. TransRe reported an underwriting loss of $34.6 million in Q4, which was an improvement on the $162.8 million loss it posted for the same period in ... Read the full article
Third Point Re dissatisfied with 2020 underwriting result
24th February 2021
Third Point Re has announced net income of $134.4 million for the fourth-quarter of 2020 and $143.5 million for the full-year 2020, as claims related to catastrophes and the COVID-19 pandemic saw the firm report an underwriting loss for both periods. For the quarter, net income actually improved from the $29.7 ... Read the full article
Andy Neve takes senior energy role at Ed
24th February 2021
Global reinsurance, wholesale and specialty broker Ed has appointed Andy Neve as a Senior Technical Account Manager within its energy team. Neve joins Ed from Lockton, where he held a Vice President role that involved handling and placing onshore/offshore operational programmes and drilling/service contractor programmes. He specialises in insurance for E&P companies, ... Read the full article
SCOR ‘absorbs’ COVID-19 shock but full-year net income falls to €234mn
24th February 2021
Global insurer and reinsurer SCOR has reported net income of €234 million for 2020, representing a decline of more than 44% from the previous year, as claims related to the ongoing COVID-19 pandemic reached €640 million. As income for the year declined, SCOR actually recorded a 371% increase in net income ... Read the full article
Kavan Tucker joins AXIS Re as Senior Underwriter, Mortgage
24th February 2021
AXIS Re, the reinsurance business segment of AXIS Capital Holdings Limited, has announced the appointment of Kavan Tucker to the AXIS Re Global Markets team as a Senior Mortgage Underwriter, effective March 1, 2021. In this role, Tucker will be responsible for developing the Mortgage book of business at AXIS Re. In ... Read the full article
Volante Global launches cyber ransomware solution
24th February 2021
International managing general agent platform Volante Global has announced the launch of a new cyber ransomware solution designed to combine ransomware cover with the latest in cyber security technology. At the core of Cyber Lockout is a multi-layered cyber security solution called Trident Lockdown, provided by GBMS Tech, which is built ... Read the full article
Hiscox appoints Emily Taylor as Line Underwriter
24th February 2021
Global insurer Hiscox has appointed Emily Taylor as Line Underwriter, Marine and Energy Liability. Taylor joined Hiscox last year as an underwriter for marine and energy liability, having previously spent four years as Class Underwriter Energy Liability at AXA XL. She will report to Mike Southgate, Divisional Director for Marine, Energy and ... Read the full article