Reinsurance News
Beat Capital names new Head of Actuarial & Exposure Management
13th April 2023
Beat Capital Partners, a long duration investor specialising in the insurance industry, has named Ajay Ganger as Head of Actuarial and Exposure Management. Ganger is an experienced actuary who first joined Beat back in March 2020. Before this, he served as an actuary at Asta Capital Limited, having begun his career at ... Read the full article
GuideOne promotes Knutson to SVP of alternative distribution & reinsurance
13th April 2023
GuideOne Insurance, a provider of property and liability insurance and risk management solutions, has promoted Paul Knutson to the leadership team as Senior Vice President of alternative distribution and reinsurance. The company has confirmed that Knutson will immediately assume his new role, with Vice President, E&S Casualty Jude DiBattista, and VP, ... Read the full article
For re/insurers, climate change extends beyond weather impacts: Philip Hough, Aspen Re
12th April 2023
Driven in part by the rise in losses from what is being defined in the industry as secondary perils, insurers and reinsurers are increasingly confronted with the physical impacts of climate change. However, the challenges are more than just concerning the weather, according to Philip Hough, Global Head of Property ... Read the full article
Tim Stroble named CEO at Olympus Insurance
12th April 2023
Gemini Financial Holdings Corporation (GFHC), the parent company of Olympus Insurance Company (OIC), has announced that Tim Stroble has been appointed as Chief Executive Officer (CEO) at the business. The insurance veteran joins Olympus after having served as the Executive Vice President and Chief Operating Officer at Florida-based Centauri Insurance Company ... Read the full article
Home insurer Kin announces expansion into Mississippi
12th April 2023
Kin, a direct-to-consumer digital home and property insurer, has announced its expansion into Mississippi, a state that has been hit by a fair number of powerful tornadoes due to its location. In 2022, Mississippi was hit with 184 tornadoes and ranked third in the nation for tornado activity. Additionally, Mississippi has ... Read the full article
Tremor looks to address residual insurance market pressures with new division
12th April 2023
Reinsurance pricing and placing platform, Tremor Technologies, has launched a new division called Tremor Public, designed to address pressures facing residual insurance markets which are publicly funded insurers of last resort, when coverage in the traditional market is unavailable to consumers and businesses. As highlighted by Tremor, residual insurance markets have been ... Read the full article
IQUW promotes Tristram Prior to Lead Underwriter Financial Institutions – Professional Lines
12th April 2023
IQUW, a property and specialty re/insurer has promoted Tristram Prior to the role of Lead Underwriter Financial Institutions – Professional Lines. Based in London, this new role is a significant step up from Prior’s previous role of Senior Underwriter, Financial Institutions/ Professional Lines. Overall, Prior brings over 15 years of industry experience ... Read the full article
US life and annuity sector’s income up 11% in 2022: AM Best
12th April 2023
AM Best’s “First Look” report provides early insight into the financial state of the US life and annuity industry for 2023. The data in this report is consolidated from companies whose 2022 annual statutory statements were received by April 3, 2023. These companies account for ... Read the full article
Homeowners renewal rate increases accelerate in March: KBW
12th April 2023
Analysts at KBW have reported that homeowners renewal rate increases are picking up steam, having accelerated to an estimated 5.9% in March. KBW notes that most homeowners insurers are raising rates, likely due at least in part to expected increases to both reinsurance rates and reinsurance attachment points, with the combined ... Read the full article
VIG Re appoints Dana Bohatová Chládková as Chief Actuary
12th April 2023
VIG Re, the reinsurance company of Vienna Insurance Group, has appointed Dana Bohatová Chládková as Chief Actuary and Head of Reserving. Chládková will become a member of VIG Re’s senior management team and will report to Johannes Martin Hartmann, CEO and Chairman of the Board of Directors, who said, “I am ... Read the full article
Lloyd’s partners with Schroders on launch of Private Impact Fund with £250m initial allocation
12th April 2023
The world's oldest insurance and reinsurance marketplace, Lloyd's, has launched the Lloyd's Private Impact Fund on its market investment platform, and appointed Schroders Capital, the specialist private assets investment arm of Schroders, as its Portfolio Manager. This new fund, which launches with a £250 million initial allocation for sustainably-focused assets, will ... Read the full article
Sarah Smith joins Aon Board of Directors
12th April 2023
Global professional services firm Aon has announced the appointment of Sarah E. Smith, a former member of the Management Committee of The Goldman Sachs Group, Inc., to its Board of Directors. Lester B. Knight, chair of Aon's board, has praised Smith’s experience and the skills she has gained through her career, ... Read the full article
Butera to lead Swiss Re CorSo’s FinPro and Casualty business in North America
12th April 2023
Swiss Re Corporate Solutions, the commercial direct risk underwriting arm of Swiss Re, has appointed Lisa Butera as Head Financial & Professional Lines (FinPro) and Casualty North America. Starting her new role on July 17, Butera will also join the North America Regional Management team to drive strategic direction across the ... Read the full article
Marsh McLennan research links cybersecurity controls and reduced cyber risk
12th April 2023
Automated hardening techniques have the greatest ability to decrease the likelihood of a successful cyberattack, recent research by global brokerage Marsh McLennan has revealed. The broker’s report - titled Using data to prioritise cybersecurity investments - found that key cybersecurity controls commonly required by cyber insurers are linked to a reduced ... Read the full article
Global downstream hardening intensifies: WTW
12th April 2023
According to the WTW Energy Market Report of 2023, Downstream insurers faced an extremely late and punitive reinsurance market. The renewal season has been one of the toughest reinsurance renewal seasons on record. This is an unusual phenomenon in this market, WTW notes, as so far history shows that after a ... Read the full article
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