Reinsurance News
Manulife appoints Carrie Tong as COO for Hong Kong and Macau
15th March 2023
Manulife Hong Kong has announced the appointment of Carrie Tong as its Chief Operations Officer for Hong Kong and Macau. In this role, Tong will be responsible for driving operational strategies and leading the company's core insurance operations such as underwriting, claims, policy administration and customer service functions She will be a ... Read the full article
Peak Re targets global cyber expansion with help of CyberCube
15th March 2023
Hong Kong-based global reinsurance company, Peak Re is targeting to expand its presence in the global cyber market with help of cyber risk analytics specialist CyberCube. According to the announcement, Peak Re - which has a global portfolio with a heavy presence in its core Asian markets - will licence CyberCube’s ... Read the full article
SVB intervention saved insurers from financial distress, warns AM Best
14th March 2023
Underwriters of directors and officers insurance for startups and venture capitalists, as well as the financial institution insureds supporting them, narrowly avoided financial distress thanks to US Government intervention around the collapse of Silicon Valley Bank, AM Best has warned. The potential for D&O claims for startups in particular would have ... Read the full article
Shekar Pannala joins The Hartford as CIO for P&C
14th March 2023
Property and casualty insurer, The Hartford has appointed Shekar Pannala to the newly created role of Chief Information Officer (CIO) for Property & Casualty. With broad technology experience, built over a 30-year career, Pannala will lead technology across the company’s Personal Lines, Small Commercial and Middle & Large Commercial businesses. He will ... Read the full article
Everest Re names interim General Counsel as Mukherjee departs
14th March 2023
Bermuda-based reinsurer Everest Re Group has announced that Brent Hoffman has been appointed as interim General Counsel, replacing Sanjoy Mukherjee who will be leaving the company in April. Hoffman will take up Mukherjee’s responsibilities while Everest conducts a search for a permanent replacement, and will retain his position as Head of ... Read the full article
AXA XL makes Inland Marine and Liabilities promotions in the Americas
14th March 2023
AXA XL's Americas Marine insurance business has announced four promotions including Brett Musser to Head of Marine Liabilities for the Americas; Ken Mueller to Head of Inland Marine, Shawn Langenegger to Inland Marine Central Zone Leader and Allison Jolls to Product Lead - Marine Liabilities. Brett Musser, who previously served as ... Read the full article
AGCS recruits AIG’s Browne as Global Head of Specialty
14th March 2023
Allianz Global Corporate & Specialty (AGCS), the corporate insurance carrier of Allianz Group, has announced the appointment of Gordon Browne as Global Head of Specialty. Most recently, Browne served as Global Head of Energy & Construction and Head of North America Specialty for AIG. During his eight years at AIG he also ... Read the full article
Florida Financial Services Commission appoints Yaworsky as Insurance Commissioner
14th March 2023
The Financial Services Commission has announced that it has appointed Michael Yaworsky as the Insurance Commissioner for the Florida Office of Insurance Regulation (OIR). Yaworsky has served as Interim Insurance Commissioner since being nominated by Governor DeSantis in February 2023. Prior to his nomination, Yaworsky served as the Vice Chairman of the ... Read the full article
AIG announces Jurgensen to retire from Board of Directors
14th March 2023
American International Group (AIG) has announced that William G. (Jerry) Jurgensen has decided to retire from the AIG Board of Directors and will not stand for re-election at the company’s 2023 Annual Meeting in May. Jurgensen has served on the AIG Board of Directors since 2013. He is the former Chief ... Read the full article
Bob James named COO at Lloyd’s
14th March 2023
Specialist insurance and reinsurance marketplace Lloyd’s has announced a number of changes to its Executive Committee, including the appointment of Bob James as Chief Operations Officer (COO). Previously Lloyd’s Market Transformation Director, James will now focus on aligning the Blueprint Two programme with the wider Corporation Operations function. Meanwhile, Burkhard Keese, Read the full article
Patricia Wong named CEO of Fubon Life Insurance, Hong Kong
14th March 2023
Fubon Life Insurance (Hong Kong) Company Limited, has appointed Patricia Wong as Chief Executive Officer. In the role, she will report to the company’s Board, and will also hold responsibility for spearheading the growth and development of Fubon Life Hong Kong. Overall, Wong brings more than 30 years of industry experience towards the ... Read the full article
S&P affirms SCOR credit ratings despite 2022 net loss
14th March 2023
S&P Global Ratings has affirmed its 'A+' long-term insurer financial strength and issuer credit ratings on SCOR SE and related core subsidiaries despite the company reporting a €301m net loss for the full-year 2022 and a drop in capitalization. The outlook of these credit ratings remains stable, the agency added. SCOR’s negative ... Read the full article
Generali achieves record operating result, P&C growth
14th March 2023
Italy-headquartered insurer Generali has reported a record operating result of €6.5 billion for 2022, helped by a significant improvement in its Life segment results, as well as premium growth in Property and Casualty (P&C). The overall operating result was up 11.2% over the previous year, although the increase in the net ... Read the full article
Coalition enters excess cyber insurance market in UK
14th March 2023
Cyber insurance provider Coalition is set to enter the excess cyber insurance market in the United Kingdom, to help protect businesses with enhanced coverage. By doing this, the firm will be able to help more businesses obtain the coverage they need to protect themselves from digital risks. The firm has confirmed that ... Read the full article
LSM France names Olivier Reiz General Manager Insurance
14th March 2023
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has announced the appointment of Olivier Reiz to the role of General Manager Insurance, France. Based in Paris, Reiz will be responsible for leading the LSM team in the country, delivering excellent service standards and driving growth for LSM’s insurance business ... Read the full article
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