Reinsurance News
AXA XL appoints Rodrigues as Country Manager for Canada
16th December 2020
AXA XL has announced the appointment of Renato Rodrigues as Country Manager for Canada, taking over from interim Country Manager, Glen Hopkinson. Rodrigues takes on this new role following seven years of serving as Country Manager for AXA XL Brazil and most recently, as the company's regional leader for insurance in ... Read the full article
BHSI promotes Jill Salmon to Head of US Professional Lines
16th December 2020
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Jill Salmon to Head of Professional Lines for the US. In her new role, she will oversee the company’s Lawyers, Architects & Engineers, Miscellaneous E&O and Cyber Liability insurance portfolios. With nearly 25 years of industry experience, primary focusing in professional lines, Salmon joined BHSI ... Read the full article
Generali, Accenture form tech-focused joint venture
16th December 2020
Generali and professional services firm Accenture have created a joint venture designed to leverage cloud technologies and shared technology platforms, in an effort to accelerate the Italian insurance giant’s digital strategy. In addition to holding a 5% ownership stake in Group Operations Service Platform (GOSP) Accenture will provide the venture with ... Read the full article
Aviva hires new CEO of UK & Ireland Life Insurance
16th December 2020
Aviva has appointed Doug Brown as CEO of UK & Ireland Life Insurance, where he is expected to join in April. Brown is currently serving as CEO of Canada Life in the UK and will join Aviva’s Group Executive Committee, reporting to Aviva Group CEO, Amanda Blanc. He has substantial, senior management ... Read the full article
QBE North America makes four senior hires
16th December 2020
QBE North America has made four senior leadership hires within its Financial Lines business. Danielle Librizzi has been appointed as Head of Professional Liability, with Thomas Kocaj as Head of Management Liability. In addition, Michael McGuinness will serve as Senior Vice President, Public D&O, followed by Adam Fleischner as Senior Vice President, ... Read the full article
Steve Watson to lead RSA’s London Market business
16th December 2020
RSA UK and International has named Steve Watson as Managing Director of its London Market business, part of RSA Commercial Lines. Watson has been leading the London Market business on an interim basis since August 2020, following the retirement of former head, Gary Long. Having joined RSA in May 2019 as Group ... Read the full article
Athene secures $1.7bn pension buyout with GE
16th December 2020
Retirement services company Athene has announced a $1.7 billion pension buyout agreement with US multinational conglomerate General Electric. The transaction will see Athene, via its Iowa and New York-based life insurance subsidiaries, provide annuity benefits for approximately 70,000 retirees who are currently receiving benefits from GE's pension plan. "We are pleased to serve ... Read the full article
Maiden Holdings provides $3.25mn of seed capital to USQRisk
16th December 2020
Bermuda-based Maiden Holdings has provided $3.25 million of seed capital in order to help accelerate the expansion of risk transfer managing general agent USQRisk. As part of its investment deal, USQRisk has added Maiden co-Chief Executive Officers Lawrence Metz and Patrick Haveron to its board of directors. The funding provided by Maiden will ... Read the full article
UIHC Q4 cat losses stand at up to $100mn
16th December 2020
Property and casualty insurance holding company UIHC has announced estimated current year catastrophe losses, incurred between October 1 to November 30, of between $85 million and $100 million. This figure is before income taxes and totals approximately $67 million to $79 million after tax, net of expected reinsurance recoveries. The company’s fourth ... Read the full article
ESG to become a critical success factor, finds market study
16th December 2020
A new study by management consulting firm Synpulse has explored how environmental, social and governance (ESG) considerations are developing in the risk transfer market, and how they could become a critical success factor in future. Synpulse undertook a market survey in collaboration with our ILS focused sister pulication, Artemis, to look ... Read the full article
B3i adds Türk Reasürans as shareholder in current funding round
16th December 2020
Industry-led blockchain initiative B3i has closed it ongoing Series B funding round with the addition of Turkey domiciled reinsurer Türk Reasürans as a new shareholder This new addition joins alongside further investments from existing shareholders and is seen by B3i as a step forward in its growth plans. B3i now boasts 21 leading ... Read the full article
PRA lays out UK re/insurance priorities for 2021
16th December 2020
The Prudential Regulation Authority (PRA) has set out its priorities for the UK re/insurance sector in 2021, which include a focus on financial resilience, credit risk, the impact of COVID-19, the Brexit transition period, and climate change. The UK regulator noted that re/insurers have thus far proved largely resilient to the ... Read the full article
Aon / WTW divestitures would reduce benefits of merger: KBW
16th December 2020
Following reports that regulators may investigate the merger deal between Aon and Willis Towers Watson (WTW) on anti-trust grounds, analysts at KBW have warned that any resulting divestitures could reduce the benefits of the combination. Sources at Reuters said yesterday that a full-scale review into the $30 billion Aon / ... Read the full article
Cyber the next key market for insurance growth: City of London Corporation
16th December 2020
The City of London Corporation, in association with Accenture, has released a report that identified cyber-insurance as one of the next key markets of growth for London. The report noted that cyber-attacks are one of the greatest risks to the worlds economy and is becoming a normality in post-pandemic life, especially ... Read the full article
Naresh Dade to lead Howden construction practice
16th December 2020
International insurance broker Howden has announced that Naresh Dade has been appointed to lead its construction practice. Dade, formerly Senior Vice President, Construction, Marsh JLT Specialty, New York will join as Managing Director, Howden Global Construction practice. Howden expects the appointment to help drive the growth of its global construction capability. “Our aspiration ... Read the full article