Reinsurance News
Market deviations reflect inflationary challenges for non-life sector: Fitch
10th January 2023
While the global outlook for the non-life insurance sector remains neutral, this classification belies the significant challenges faced by many developed markets as they feel the impacts of inflationary pressures, according to Fitch Ratings. The rating agency noted that these impacts will vary considerably by region and market, and even by ... Read the full article
Zurich & ICS launch Envision Re as sustainability-focused group captive
10th January 2023
Zurich North America has collaborated with Innovative Captive Strategies (ICS) to launch Envision Re, Ltd., a captive insurance company that will bring together businesses that want to optimise their risk management programs while reducing their carbon footprint. Dawn Hiestand, Head of Group Captives at Zurich North America, commented, "Envision Re's sustainability ... Read the full article
WTW names Aon’s Gallina Head of Property Broking
10th January 2023
WTW, a global advisory, broking, and solutions company, has appointed Dominic Gallina as the Head of Property Broking - Real Estate, Hospitality, and Leisure within North American Corporate Risk and Broking (CRB). In this new role Gallina will lead North America’s efforts to deliver custom, analytically driven property solutions for clients ... Read the full article
Ardonagh Specialty joins Brokerslink network
10th January 2023
Global broking company, Brokerslink, has announced that Ardonagh Specialty has joined its international network. The move brings the entire Ardonagh Specialty business into Brokerslink as partners, including brands Price Forbes, Bishopsgate, Compass London Markets, Besso, and Inver Re. Three businesses within Ardonagh Specialty, Ed Broking, Ed Bermuda and Piiq Risk Partners, are ... Read the full article
Helios reports 39% increase in retained capacity
10th January 2023
Helios, the investment vehicle that acquires and consolidates underwriting capacity at Lloyds', has announced a 39% increase in its retained capacity for 2023. The company’s overall portfolio, including its capacity reinsured, increased to £296.6 million, adding more than 27% to the size of the portfolio since the 1st January 2022. This includes an increase in ... Read the full article
Amynta Group acquires MGU Ambridge from Brit
10th January 2023
Amynta Group has announced a strategic partnership in which it will acquire Ambridge Group, the Managing General Underwriter (MGU) operations of Brit, a subsidiary of Fairfax, for $400m and enter into a multi-year agreement for Brit to be a significant capacity partner to Ambridge. Ambridge is a global MGU, offering a ... Read the full article
ABIR announces new officers with Pina Albo elected as new Chair
10th January 2023
Hamilton CEO Pina Albo has been elected as the new Chairperson of the Association of Bermuda Insurers and Reinsurers (ABIR), becoming the first woman to serve as ABIR Chair in its 30-year history. She succeeded Marc Grandisson, CEO of Arch Capital Group Ltd., in the role, and started her two-year term ... Read the full article
Former MMC CEO Dan Glaser joins CD&R as Operating Partner
10th January 2023
Clayton, Dubilier & Rice (CD&R), a private investment firm, has appointed Dan Glaser, former President and CEO of Marsh McLennan (MMC) as an Operating Partner. According to the announcement, Glaser joins CD&R's Financial Services team and will help source new investments and support portfolio company management teams as they execute their ... Read the full article
More than $1bn in re/insurer loss funds are redundant, says Pro Global
10th January 2023
Global re/insurance outsourcing and consulting specialist Pro Global Holdings has claimed that over $1 billion in global re/insurer reserves is sitting dormant in loss funds, despite all claims being paid in full. The firm said it wants to support London market and global re/insurers in repatriating over the unused loss fund ... Read the full article
Gallagher to launch energy & power risk services in Middle East
10th January 2023
Gallagher has announced that it is launching energy and power risk services for clients in the Middle East, naming Jack Wishart to lead the new practice as Divisional Director & Head of Risk Engineering. Wishart, who is currently Vice President, Risk Engineer, at Marsh in the UAE, will join Gallagher in ... Read the full article
Munich Re pegs global insured nat cat losses at $120bn in 2022
10th January 2023
Global catastrophes around the world drove estimated economic losses of USD 270 billion in 2022, of which roughly 44% or USD 120 billion were covered by re/insurance, resulting in another above-average year of losses for the industry, according to figures from one of the world's largest reinsurers, Munich Re. At USD ... Read the full article
Aston Lark announces two UK senior appointments
10th January 2023
Aston Lark, a Howden company, has today announced two senior appointments following the opening of two new regional offices in the UK. The broker’s new Thames Valley office will be headed by Alistair Matthews, who also joins as a Regional Director with responsibility for a region covering existing offices in ... Read the full article
Allianz Commercial appoints new EC&P Regional Underwriting Manager
10th January 2023
Allianz Commercial announced the promotion of Arshad Rashid to Regional Underwriting Manager for its Engineering, Construction & Power (EC&P) business in London. In his new role, Rashid will help the company to drive EC&P’s growth and lead its technical underwriting activity in England’s capital. He will also be in charge of monitoring ... Read the full article
Core Specialty launches excess liability program with Synchronosure
10th January 2023
Core Specialty Insurance Holdings, Inc. and its subsidiaries have announced the launch of an excess liability program in conjunction with Synchronosure, a tech augmented underwriting agency. According to the announcement, the program will provide up to $5m in excess liability coverage, attaching at $11m and higher, to small and middle-market businesses ... Read the full article
Previsico to leverage €4.3bn Meteosat satellite to deliver better flood forecasts
10th January 2023
Live flood alert Insurtech Previsico is set to leverage the new €4.3bn Meteosat satellite system to deliver even faster and more accurate flood warnings for clients like Zurich, Liberty, and Generali. The insurtech already provides real-time, property-level surface water flood forecasts that enable clients to mitigate flood impacts, which are given ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
