Reinsurance News
Aon’s Reinsurance Solutions adds property broker to UK&I Specialty Casualty team
9th November 2020
Global insurance and reinsurance brokerage firm, Aon, has appointed Sam Sylvester as a Senior Property Broker in the UK & Ireland and Specialty Casualty team, Reinsurance Solutions. Sylvester brings nearly two decades of experience in property reinsurance to the company, both in broking and underwriting. Most recently, he served as Head of ... Read the full article
Fidelis raises $125mn from fresh debt issuance
9th November 2020
Specialty insurance and reinsurance firm, Fidelis Insurance Holdings Limited, has announced that it plans to raise an additional $125 million of capital via a new debt issuance. The company announced two separate issuances of 6.625% fixed-rate reset junior subordinated notes due April 1, 2041. One of these issuances is worth $105 million ... Read the full article
AXIS Insurance adds lead underwriters to US Cyber & Tech unit
9th November 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the addition of three lead underwriters to its US Cyber and Technology team. Ashley Sales, Southeast Regional Underwriting Manager, will be based in Alpharetta, Georgia, while Jonah Papesh, West Coast Regional Underwriting Manager, will be based in ... Read the full article
Everest Re sees “flight back to traditional model,” says John Doucette
9th November 2020
John Doucette, President and CEO of the Reinsurance division at Everest Re, has said that the company is seeing a flight to quality and a “flight back to the traditional model” ahead of the 2021 renewals. Speaking alongside the release of Everest Re’s Q3 results, Doucette commented on how the ... Read the full article
SCOR adds Adrien Couret to Board of Directors
9th November 2020
Global insurer and reinsurer SCOR has announced that Adrien Couret, Chief Executive Officer of the Macif group, has been made a Director. This decision was made by the current Board of Directors on 5th November and follows Jean-Marc Raby’s resignation from the SCOR Board to pursue other interests. Couret’s new position takes ... Read the full article
Berkshire reports 9M 2020 P&C reinsurance underwriting loss
9th November 2020
Warren Buffett’s Berkshire Hathaway has reported a P&C reinsurance pre-tax underwriting loss of $706 million for the first nine months of 2020 against a gain of $472 million a year earlier, as loss and loss adjustment expenses increased by 48% to $2.4 billion. The elevated level of catastrophe losses during the ... Read the full article
Beazley launches fine art & jewellers’ block in France
9th November 2020
Specialist insurer Beazley has launched of a suite of solutions for fine art and jewellers’ block in France, expanding its offering in mainland Europe. The cover is available on a worldwide basis and includes all risk damage to objects, transport and exhibitions, terrorism and natural catastrophe events, and title deed default. Ariane ... Read the full article
Crawford & Company acquires HBA Group
9th November 2020
Crawford & Company, a provider of claims management solutions, has announced the acquisition of Australia-based HBA Group as part of the continuing expansion of its Crawford Legal Services (CLS) in the UK and globally. HBA Group comprises HBA Legal, a legal services enterprise which partners with underwriters, brokers, insurers and self-insured ... Read the full article
AM Best turns negative on Singapore Re
9th November 2020
Rating agency AM Best has revised its outlook for Singapore Reinsurance Corporation Limited (Singapore Re) from stable to negative, reflecting increasing pressure on the firm’s business profile assessment. In particular, analysts noted that Singapore Re may be overly reliant on a small number of concentrated local cedants, some of which have ... Read the full article
Jan 1st renewals to be one of the hardest markets in years: Lancashire CEO
6th November 2020
Alex Maloney, the Chief Executive Officer (CEO) of Lancashire Holdings Limited, believes that the January 1st, 2021 reinsurance renewal season is going to be one of the hardest markets witnessed in years. In response to a lengthy soft market state, heavy catastrophe losses and low interest rates, exacerbated by the impacts ... Read the full article
Investors press CoreLogic to run auction process
6th November 2020
TIG Advisors, a major investor in property information and analytics provider CoreLogic, has written to the firm’s board urging it to immediately run an auction process for the sale of the company. CoreLogic has already been at the centre of a months-long battle with investors Senator and Cannae, who have ... Read the full article
Enstar earnings jump in Q3
6th November 2020
Legacy acquirer Enstar Group Limited has reported that its consolidated net earnings amounted to $615.0 million in the third quarter of 2020. This represents a major jump up from last year, when the company reported earnings of $117.7 million for the third quarter period. Looking at the first nine months of the ... Read the full article
Allianz sees net income rise 6% in Q3
6th November 2020
Global insurer Allianz has reported a net income of €2.1 billion for the third quarter, up an impressive 5.9% from the prior year period. This elevated net income was due to a higher non-operating investment result and was partly offset by higher restructuring and integration expenses. Total revenues decreased 6.1% to €31.4 ... Read the full article
Swiss Re adds Matthias Meyenhofer to Reinsurance EMEA
6th November 2020
Matthias Meyenhofer has joined Swiss Re's Reinsurance EMEA division as Head of Large P&C Transactions Continental Europe, effective from November 1st. In his new role, Meyenhofer will be based in Zurich and will report to Nikhil da Victoria Lobo, Head Western & Southern Europe, and will also work closely with the ... Read the full article
Howden adds Jane Bennett to Financial Lines practice
6th November 2020
Independent insurance broker Howden has added Jane Bennett to its Financial Lines practice. Bennett brings over 30 years’ to the role and joins in November as a Senior Advisor. Howden’s Financial Lines practice provides insurance broking and risk management services across the Financial and Professional services sectors. The division has over 330 people ... Read the full article