Reinsurance News
M&A activity to bounce back in H2: BMS
18th April 2023
A new report from BMS, the independent specialist insurance and reinsurance broker, suggests that mergers and acquisitions (M&A) activity could “bounce back” towards the latter half of 2023. BMS looked at M&A trends from 2022 and provided an outlook for 2023 in the European, North American, and Asian markets. It noted that ... Read the full article
DUAL names Peter Kegel as new Managing Director for Benelux
18th April 2023
DUAL Europe has announced the appointment of Peter Kegel as the new Managing Director of DUAL Benelux. Kegel will be based in Rotterdam, Netherlands. Kegel will be in charge of establishing a base to service the Benelux market. The company’s vision is to spread its reach in 13 European countries. The DUAL ... Read the full article
Youi Insurance hires Swiss Re’s Laura Wood as Head of Reinsurance
18th April 2023
Youi Insurance, an Australian-based insurance company has appointed Swiss Re’s Laura Wood as Head of Reinsurance. An experienced veteran within the industry, Wood brings 18 years of expertise towards her new role, having worked within re/insurance and broking across most of the industry’s key markets around the globe and across many ... Read the full article
Everest names Mike Mulray President of North America Insurance
18th April 2023
Bermuda-based reinsurer Everest Re Group has appointed Mike Mulray as Executive Vice President and President of North America Insurance. Mulray most recently served as Global Chief Operating Officer for Everest Insurance, having first joined the firm in 2015 as Chief Underwriting Officer. Since then, Everest states he has played a critical role ... Read the full article
Aristotle completes acquisition of Pacific Asset Management from Pacific Life
18th April 2023
Aristotle Capital Management has completed the acquisition of Pacific Asset Management from Pacific Life Insurance Company, rebranding it to Aristotle Pacific Capital. The rebranded Aristotle Pacific will maintain its investment team and will continue to be led by Dominic Nolan, CFA, CEO. Aristotle explains that this will ensure the continuity of ... Read the full article
Specialty reinsurers’ combined ratios may be ‘too conservative’: RBC Capital Markets
18th April 2023
RBC Capital Markets said specialty reinsurers' combined ratios may be "too conservative" due to factors such as conservative reserving, rebuilding reserve buffers, and higher investment returns which could offset weaker underwriting returns. Insurers are expected to report strong solvency positions and detail any relevant asset exposures, with a focus on the ... Read the full article
AM Best maintains stable outlook on UK life insurance segment
18th April 2023
In a new report from AM Best, the rating agency has announced that it is maintaining its Stable market segment outlook for the UK life insurance segment. The report highlights that the positive factors underpinning the stable outlook for the UK life insurance segment include a strong pipeline for pension risk ... Read the full article
Ardonagh Europe acquires Dutch broker Classicus
18th April 2023
Ardonagh Europe, part of The Ardonagh Group, has further bolstered its presence in the Netherlands with the acquisition of Dutch broker Classicus. Classicus was founded in 2004 and is headquartered in Amsterdam. The firm provides a range of specialist high net worth products for classic and luxury cars, yachts, art collections, and ... Read the full article
Lockton adds Peter Chesterfield to Real Estate & Construction team
18th April 2023
Independent insurance broker Lockton has announced the appointment of Peter Chesterfield as Senior Vice President in its Global Real Estate & Construction (GREAC) team. In this role, he will be tasked with maintaining and accelerating the growth of the Lockton GREAC practice, focussing on the division’s construction projects across international markets. Chesterfield ... Read the full article
Commercial rates slow across Canada in Q4: Applied Systems
17th April 2023
New data from Applied Systems shows that the overall magnitude of commercial lines premium rate movements slowed in Canada during the fourth quarter of last year. Analysts report that rate increases decelerated across all lines relative to average premium renewals in the same quarter in the previous year, at 8.58% in ... Read the full article
Cincinnati Financial to incur $235m Q1 storm losses
17th April 2023
Property and casualty insurer Cincinnati Financial Corporation has announced that its consolidated first-quarter results are expected to include pre-tax catastrophe losses of approximately $235 million. This will represent an impact on its Q1 combined ratio of 12.8 percentage points, based on estimated earned premiums. For reference, the company's 5-year historical average contribution ... Read the full article
Aon appoints Zakhary as CEO of Strategy & Technology Group
17th April 2023
Global professional services firm Aon has appointed Sherif Zakhary as Chief Executive Officer of its Strategy and Technology Group within Reinsurance Solutions, effective immediately. Based in New York, Zakhary will lead over 500 colleagues worldwide to accelerate the evolution of Aon’s insurance consulting capabilities. The role will also see him enable ... Read the full article
James Harrison becomes D&B’s Global Head of Insurance
17th April 2023
Dun & Bradstreet (D&B), a global provider of business decisioning data and analytics, has appointed James Harrison as Global Head of Insurance. Harrison joined D&B in 2020 as UKI Head of Insurance, a role he held for over two years before his new appointment. During this time he focused on helping ... Read the full article
Accounting standards ‘unlikely’ to impact insurers’ strategic asset allocation: JP Morgan
17th April 2023
Accounting standards, IFRS9 or IFRS17, unlikely to impact insurers’ strategic asset allocation "too significantly," says JP Morgan in a new note. In its latest Love Actuary report, JP Morgan analysts examine IFRS9, a new accounting standard for assets that insurers are applying in parallel with IFRS17. It looks at how IFRS9 ... Read the full article
WTW adds Gregg Moons as Head of M&A for Benelux
17th April 2023
Global advisory, broking and solutions company WTW has announced the appointment of Gregg Moons as Head of Mergers & Acquisitions (M&A) for the Benelux region. Moons will have a regional role working from WTW’s offices in Amsterdam, Brussels and Rotterdam, working closely together with M&A teams in Europe. He will report into ... Read the full article
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