Reinsurance News
SCOR names Head of Business Model Development
16th January 2023
Lorcán Hall has been appointed as Head of Business Model Development & Corporate Foresight at French reinsurer SCOR. In this Zurich-based role, he will work to pilot and scale internal innovations and work with non-traditional partners to co-create risk and resilience solutions. These solutions will aim to deliver commercial and social benefits ... Read the full article
AM Best turns negative on Canopius ratings
16th January 2023
Rating agency AM Best has revised the outlooks to negative from stable for Canopius US Insurance, Inc. and Canopius Reinsurance Limited. At the same time, the rating agency affirmed both entities, which are wholly owned subsidiaries of Canopius Group Limited, a Financial Strength Rating of A- (Excellent) and the Long-Term Issuer ... Read the full article
Consilium appoints Paul Richards Co-CEO
16th January 2023
Consilium, the international broking re/insurance arm of Aventum, has announced that it has appointed Paul Richards to lead the business as Co-CEO. Richards will serve alongside long-time colleague James Baird, who was appointed CEO in November last year. Most recently, Richards operated as Executive Director and a member of Ed’s Executive Committee ... Read the full article
Velina Peneva appointed Group Chief Investment Officer at Swiss Re
16th January 2023
Reinsurance giant Swiss Re has announced that Velina Peneva will succeed Guido Fürer as Group Chief Investment Officer (CIO), effective April 1st, 2023. Currently, Peneva serves as Co-Head Client Solutions & Analytics in Swiss Re's Asset Management, having previously led Swiss Re's private equity investment mandate. Prior to joining the reinsurer in ... Read the full article
Renewals an opportunity for global aerospace insurance market to re-set: Gallagher
16th January 2023
The 2022/2023 aerospace reinsurance renewals season is a chance to re-set retention levels, policy conditions and pricing levels to enable the global aerospace (GA) insurance market to continue to serve its end-user client base, according to Gallagher analysts. This opportunity presents itself as this renewals season for the global insurance market ... Read the full article
Skyward Specialty announces pricing of upsized IPO
16th January 2023
Skyward Specialty, a P&C insurance holding company part of Westaim Corporation, has priced its upsized initial public offering (IPO) of 8,952,383 shares of its common stock at a price of $15.00 per share, generating proceeds of around $134 million. This includes 4,750,000 common shares being offered by Skyward Specialty and 4,202,383 ... Read the full article
Unity critical to solving challenges like climate change: Mumenthaler
13th January 2023
Christian Mumenthaler, Group Chief Executive Officer at Swiss Re, has suggested that despite COP27 negotiations leaving plenty of unfinished business, he remains "optimistic" that societies will be willing to set aside differences to achieve climate resilience goals. Writing in a blog post for Swiss Re, Mumenthaler noted that the COP27 climate ... Read the full article
AXA XL adds Hull and Inland Marine hires in Americas
13th January 2023
AXA XL has added three new colleagues to its Americas Marine Insurance business, namely Jonathan Lacorazza as Head of Hull, Carol Warfel as Senior Underwriter, Inland Marine and Cy Villarosa as Associate Underwriter, Inland Marine. Lacorazza has more than 20 years’ industry experience and joins AXA XL from CNA where he ... Read the full article
Sompo Intl. announces two new appointments for AgriSompo
13th January 2023
Sompo International, a global provider of commercial and consumer P&C re/insurance, has announced two new leadership appointments for the firm’s multinational crop insurance platform, AgriSompo. Brad Leighton has been named President of AgriSompo North America and Marji Guyler-Alaniz has been named Chief Operating Officer (COO) of AgriSompo North America and President ... Read the full article
US embedded insurance distribution may exeed $70bn in premium by 2030: Conning
13th January 2023
A new report by investment management firm Conning has suggested that embedded insurance could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030. In its report, Conning suggests that the benefits of embedded insurance, through which insurance products are distributed by ... Read the full article
Cowbell advises SMEs on cyber catastrophe preparation
13th January 2023
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has released a whitepaper in which it lays out a path to model catastrophic cyber events in the SME market. According to the announcement, the firm’s goal is to to help SMEs prevent and recover from a cyber event of ... Read the full article
Falvey ups underwriting capacity with changes to program
13th January 2023
Specialist MGA Falvey Insurance Group has announced that it has increased its underwriting capacity from January 1st, via expanded partnerships with its key supporting carriers. In total, Falvey partners with 35 different carriers or syndicates on 36 different underwriting facilities via its 4 MGAs. Major changes to the program this year include ... Read the full article
Venerable appoints John Herlihy to new roles within its risk organisation
13th January 2023
Venerable Holdings, Inc., a provider of risk transfer solutions to variable annuity issuers, has announced the appointment of John Herlihy as Senior Vice President, Head of Trading and Co-Head of Hedging. In the new role, Herlihy will have responsibility for managing derivatives trading efforts and Venerable's variable annuity hedge portfolio. He is ... Read the full article
Aeolus hires MD of Business Development from Elementum
13th January 2023
Bermuda domiciled reinsurance and insurance-linked securities (ILS) focused investment fund manager, Aeolus Capital Management., has appointed Benjamin Somers as Managing Director of Business Development at Aeolus Services Corp., the US subsidiary of the ACM Group. Somers has nearly 25 years in business development, alternative asset management, debt capital markets and corporate ... Read the full article
Intact Financial estimates Q4 cat losses at $143m
13th January 2023
Intact Financial Corporation, a Toronto-based property and casualty (P&C) insurer, has announced estimated catastrophe losses for Q4 2022 of approximately $143 million, pre-tax. Cat losses in the Canadian segment were: Personal Lines $13 million, Commercial Lines $64 million. In the UK and Ireland segment, cat losses were: Personal Lines $63 million, ... Read the full article
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