Reinsurance News
South Africa’s New National partners with JBA for global flood data
27th April 2023
Specialist insurer New National Assurance has signed an annual agreement with flood risk modeller, JBA Risk Management (JBA), for the use of its flood data for South Africa. The data, which incorporates climate change intelligence, will be used by the insurer to underwrite property-risk for both personal and commercial lines. Additionally, ... Read the full article
Catastrophe exposed property rates typically up 15-20%, says Miller
26th April 2023
Brokerage Miller Insurance Services has released a report stating that it is seeing property rate increases for clean, non-cat renewals of +10% for loss-affected lines. At the same time, and in contrast to the company’s Q1 update, catastrophe (CAT) exposed business will now typically start at between +15% to ... Read the full article
ShoreOne hires Territory Manager for Massachusetts
26th April 2023
ShoreOne Insurance Managers, Inc., has appointed Peter Hutchinson as Territory Manager for its Massachusetts headquarters. An experienced veteran within the industry, Hutchinson brings over three decades of expertise towards his new role. As Territory Manager he will play a key role in driving sales growth and developing strong relationships with ShoreOne’s clients ... Read the full article
Markel hires new MD, Global Head of Cat and Exposure Management
26th April 2023
Markel Corporation has announced the hire of Amandeep Dhillon as its new Managing Director, and Global Head of Catastrophe and Exposure Management. Dhillon will be based in Markel's Glen Allen, Virginia office and will report to Kryszon. Dhillon’s remit in this role includes leading Markel's approach to catastrophe and exposure management across ... Read the full article
AXA XL names Matthew Duke Head of Pricing, U.S. Middle Market Analytics
26th April 2023
AXA XL Insurance has further expanded its U.S. Mid-Market team with the addition of Matthew Duke as Head of Pricing, U.S. Middle Market Analytics. Duke joins AXA XL from Xceedance, where he served as Senior Vice President and Chief Actuary, Head of Global Actuarial Services. Before this, he served as Head of ... Read the full article
IRB Brasil Re to compensate shareholders for false investment claims
26th April 2023
Brazilian reinsurance company IRB Brasil RE has entered into a non-prosecution agreement with the US Justice Department and agreed to pay $5 million in victim compensation to resolve the government’s investigation into a securities fraud scheme. The Justice Department claims the scheme aimed to fraudulently prop up IRB’s stock price by ... Read the full article
Cytora and CyberCube announce partnership to build a digital platform for risk assessment
26th April 2023
Cytora and CyberCube have announced their partnership to provide commercial insurers with a more streamlined and informed understanding of cyber risk. Cytora is a digital risk processing platform and CyberCube is a cyber risk analytics provider. Through this partnership, CyberCube’s cyber risk analytics and modelling ... Read the full article
Verisk acquires German InsurTech SV Krug
26th April 2023
Global data analytics and technology provider Verisk has announced that it has acquired Krug Sachverständigen GmbH (SV Krug), a Germany-based motor claims solutions provider. The acquisition expands Verisk’s claims and casualty offerings across Europe. Founded in 1982, SV Krug offers highly digitalised solutions that help insurers and car manufacturers to achieve better ... Read the full article
RiskPoint Group partners with Munich Re to improve coverage for offshore wind industry
26th April 2023
RiskPoint Group's Renewable Energy team has partnered with Munich Re's Greentech Solutions Team to enhance coverage for offshore wind contractors, manufacturers, and suppliers. This partnership will bring together the global distribution and technical proficiency of RiskPoint with Munich Re's financial strength, due diligence capabilities, and product design expertise, resulting in a ... Read the full article
WTW names SCOR’s Thinnes as Head of Energy & Construction Property
26th April 2023
Global brokerage WTW has appointed Matthew Thinnes as Head of Energy & Construction Property on its Direct and Facultative team, based in North America. Based in New York, Thinnes joins the firm with over 20 years of industry experience. In his most recent role he served as Vice President – North America Construction Manager, at ... Read the full article
Swiss Re proposes solutions for physical asset undervaluation
26th April 2023
Mohit Pande, Head of Property Underwriting for US & Canada at global reinsurer Swiss Re, has warned of the pervasive challenge of inadequate valuations of physical assets for property policies, and has proposed some potential solutions to the issue. Undervaluation of assets results in a shortfall of premium collected, which in ... Read the full article
Jamie Cook named Chief Partnership Officer of QBE Re
26th April 2023
QBE Re, the reinsurance division of QBE, has announced that it has appointed Jamie Cook as Chief Partnership Officer. In his new role, Cook will lead a team that is responsible for building more effective customer and broker relationships, as well as managing strategic partnerships with retrocessionaries and other capital providers. Based ... Read the full article
Insurtech Ledgebrook raises $4.6m in funding
26th April 2023
Ledgebrook, an insurtech managing general agent (MGA) for wholesale brokers, has announced it has raised a $4.6m round of funding. The Boston-based company intends to use these funds to scale its flagship non-admitted GL & Supported Excess product & support the development of future offerings. It is also looking to build ... Read the full article
Aon hires its new Chief Commercial Officer of Strategy & Technology
26th April 2023
Insurance and reinsurance broker Aon has announced the hire of Katey Walker as its new Chief Commercial Officer of Strategy & Technology. Walker is a market veteran with over twenty years of experience in the property and casualty industry as a consultant and in Executive and Senior Management roles for numerous ... Read the full article
Blockchain-powered reinsurer Re backs $34 million in Q1 premiums
26th April 2023
Re, a blockchain-powered reinsurance company, has reported "significant" growth in Q1 2023, backing $34 million in premiums and insuring tens of thousands of small businesses across various industries since its launch in late 2022. The company foresees further growth and opportunities with a strong deal flow pipeline and additional capital influx, ... 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.
