Reinsurance News
Floridian insurers see underwriting weaken in 2022: Gallagher Re
13th April 2023
According to reinsurance broker Gallagher Re’s 2022 year-end Florida Market Watch Report, the combined ratio of the industry weakened by over 17% year-over-year to 136.1% compared with 116.3% in 2021. At the same time, net loss & LAE ratios at an industry level rose by 26.3% to 108.9% at 2022 year-end, as ... Read the full article
CrossCover completes management buy-out with Gallatin Point
13th April 2023
Houston-based property-focused MGU CrossCover has announced that it has completed a management buy-out with support from private equity firm, Gallatin Point. Following the buy-out, CrossCover stated that it expects to see accelerated growth within its existing middle-market E&S business, as well as through additional products that will be introduced to the ... Read the full article
CSU stresses uncertainty as it forecasts below-average Atlantic hurricane activity in 2023
13th April 2023
Colorado State University (CSU) hurricane researchers are expecting activity during the 2023 Atlantic hurricane season to be slightly below-average but do stress that conflicting signals between "a potentially robust El Niño and an anomalously warm tropical and subtropical Atlantic", creates greater uncertainty than normal. Currently, explains CSU, neutral ENSO conditions appear ... Read the full article
Barr and Brunko to lead Verisk’s Claims businesses
13th April 2023
Global data analytics and technology provider Verisk has announced the promotion of Carrie Barr and Aaron Brunko to lead the company’s growing Claims businesses. These appointments, according to Maroun Mourad, president of Verisk Claims Solutions, will further enhance the support offered to clients and help strengthen Verisk’s role as a strategic ... Read the full article
BIBA partners with specialist re/insurance marketplace Lloyd’s
13th April 2023
The British Insurance Brokers’ Association (BIBA) has partnered with specialist insurance and reinsurance marketplace Lloyd’s. BIBA said many of its members and Lloyd’s have always worked closely together and it was pleased to welcome Lloyd’s on board as an official partner. "We will continue to work with Lloyd’s on issues relevant to ... Read the full article
Aspida Life Re names Jenny Kane as Deputy COO
13th April 2023
Bermuda-based life and annuity reinsurance company, Aspida Life Re has appointed Jenny Kane as Deputy Chief Operations Officer. Kane has more than two decades of industry experience and over a decade in the Bermuda market. She will bring extensive expertise in operations and risk management to the broader Aspida Re team ... Read the full article
Trial lawyers could slow down Florida reform benefits: Triple-I
13th April 2023
Analysts at Triple-I have warned that a huge inundation of lawsuits by trial lawyers in Florida could seriously slow down insurance reform benefits for consumers in the state. In the wake of Florida's enactment of historic tort reform legislation, Triple-I notes that the state’s trial lawyers have responded by dumping tens ... Read the full article
Swiss Re CorSo names AXIS’ Mondi Head of Distribution Management, NA
13th April 2023
Swiss Re Corporate Solutions has announced that it has appointed AXIS’ Peter Mondi as Head of Distribution Management, North America. In his new role, Mondi will lead a team responsible for the broker engagement and strategy for the US and Canada. Mondi, who is based in Chicago, IL, will report to Allen ... Read the full article
QBE Re appoints Andy Richardson as Head of Underwriting, Bermuda
13th April 2023
QBE Re, the reinsurance division of QBE Insurance Group, has announced that it has appointed Andy Richardson as Head of Underwriting for Bermuda. He will report to Tracey Gibbons, Head of QBE Re Bermuda and will take up the new role at the beginning of June subject to Bermuda immigration. In this ... Read the full article
African Risk Capacity selects Gallagher Re as reinsurance broker
13th April 2023
Global broking and advisory firm Gallagher Re has been selected as the reinsurance broker and risk advisor for African Risk Capacity Limited (ARC), the specialist insurance company which provides parametric insurance cover to African countries against climate and disaster events. The appointment includes the placement of portfolio cover in the reinsurance ... Read the full article
Allianz, Axa and Zurich ‘successfully managed’ inflation, interest rate risk: Fitch
13th April 2023
Fitch Ratings said the three main European insurance groups – Allianz, AXA and Zurich - "successfully managed" the effects of the macroeconomic environment like high inflation and interest rates. "Allianz, AXA and Zurich successfully managed 2022’s macroeconomic challenges thanks to their very strong company profiles, rigorous risk management and sophisticated asset- ... Read the full article
Fenix24 appoints Marko Polunic EU managing director
13th April 2023
Cyber disaster recovery firm Fenix24, and sister company of Conversant Group, has announced the appointment of Marko Polunic as managing director for EU operations. Based in Munich, Polunic will spearhead efforts to expand Fenix24's offering into the EU and globally by fostering relationships with ecosystem partners - such as law firms, ... Read the full article
Howden launches Marine & Energy business in Norway with WTW’s Frode Lund
13th April 2023
International insurance broker Howden has announced the launch of its Marine & Energy business in Norway, which is set to be led by WTW’s Frode Lund, who will assume the position from August 1, 2023. The new initiative is set to drive footprint for Howden within the region, and also represents ... Read the full article
Miller posts over £200m in 2022 revenues
13th April 2023
Specialist re/insurance broker Miller said it posted over £200 million in revenues in 2022, led by strong organic growth and the acquisition of two "high quality" businesses. Miller said it saw organic growth in the mid-teens delivered in 2022, with strong performance across all classes. Acquisitions of Henner Sports in France (now ... Read the full article
AIG hires Colahan as Regional President for Asia Pacific
13th April 2023
American International Group (AIG) has appointed Chris Colahan as Regional President, AIG Asia Pacific. Colahan will join the firm during the second quarter of 2023, and he will report to Jon Hancock, Chief Executive Officer of AIG’s International General Insurance business. Colahan will be taking over the role from current Regional President, ... 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.
