Reinsurance News
Everspan promotes Dresner to President as Wyatt Blackburn retires
29th November 2022
Everspan Group has promoted Steven K. Dresner to President of Everspan, succeeding Wyatt Blackburn, who has retired. Blackburn will assume the role of Vice Chairman of Everspan Holdings and become a member of the Everspan Holdings Board of Directors. Blackburn joined Everspan in July 2020, bringing nearly 40 years of experience to ... Read the full article
FEMA reports NFIP has paid $793m in claims so far following Hurricane Ian
29th November 2022
The U.S. Federal Emergency Management Agency (FEMA) has reported that the National Flood Insurance Program (NFIP) has paid $793 million in claims following Hurricane Ian, as Federal support nears $3 billion. FEMA suggests that more than $2.97 billion in federal grants, disaster loans and flood insurance payments has been provided to ... Read the full article
Reinsurers face “generational opportunity,” if they can deploy: Howden’s Michelle To
29th November 2022
Michelle To, Head of Business Intelligence at international insurance broker Howden, has asserted that the current pricing environment presents “generational opportunities” for those reinsurers that are able to deploy capital efficiently. Speaking as part of a Q3 insurance and earnings update, To concluded that pricing dynamics are “creating a healthier forward ... Read the full article
The Hanover appoints Schuler to lead Management and Executive Liability
29th November 2022
The Hanover Insurance Group has appointed Eric M. Schuler as President of management and executive liability, effective immediately. Within this role, Schuler will assume responsibility for the strategy and execution of The Hanover's management liability business, which offers specialized solutions for a broad range of private companies, non-profit organizations and financial institutions. With ... Read the full article
Aon names two new leaders in Reinsurance Solutions APAC team
29th November 2022
Re/insurance broker Aon has named Robert De Souza and John Carroll to new roles within its Reinsurance Solutions Asia Pacific (APAC) team. Robert De Souza, who is currently Reinsurance Solutions’ CEO of Australia and New Zealand and chairman of APAC, will now become Reinsurance Solutions’ president of APAC. The firm states that ... Read the full article
Liberty Mutual appoints Maria Grace as global product leader for property
29th November 2022
Liberty Mutual Insurance has appointed Maria Grace as its global product leader for property. Grace is set to begin in the role at the beginning of January and will report to Matthew Moore, Global Risk Solutions (GRS) president of underwriting. She will be responsible for the profit and loss of property ... Read the full article
AGCS names Brian McNamara Regional Head of Multinational, NA
29th November 2022
Allianz Global Corporate & Specialty (AGCS), the corporate insurance carrier of Allianz Group, has announced it is strengthening its North American Multinational team with the appointment of two new members. Brian McNamara has been named Regional Head of Multinational, North America. According to the announcement, he is taking over this role ... Read the full article
Conduit Re appoints Peter Kiernan as head of property
29th November 2022
Conduit Re has appointed Peter Kiernan as its new head of property. The firm said that Kiernan, currently Head of US Property with AXA XL Reinsurance in Bermuda, will take up his role at the beginning of December, subject to regulatory and work permit approvals. The firm added that Kiernan’s appointment at ... Read the full article
Arch Insurance & AEGIS London latest to rule out insuring EACOP
29th November 2022
Arch Capital Group Ltd and AEGIS London have become the latest (re)insurance companies to commit not to provide any coverage to the East African Crude Oil Pipeline (EACOP) project. They join 19 other (re)insurers, including four of the world’s biggest (re)insurance companies - Munich Re, Swiss Re, Hannover ... Read the full article
Reinsurance structures as crucial as pricing at 2023 renewals: JP Morgan
29th November 2022
Analysts at JP Morgan have asserted that the structure of reinsurance programs could play “as important of a role as pricing” at the upcoming renewal periods. In a new report, the firm argued that recent years of poor returns for the reinsurance industry have not simply been due to bad luck, ... Read the full article
Reinsurance market expected to cause Hull insurers difficulties at renewals: Gallagher
29th November 2022
According to the Divisional Director of Marine at Gallagher, Mike Ingham, the reinsurance market is expected to present Hull insurers with a new set of difficulties at the forthcoming January renewals. Ingham notes that the market is already suffering from large potential losses on Aviation War and War on Land policies. He ... Read the full article
Aon highlights how captives can drive positive ESG outcomes
29th November 2022
A recent Aon report has highlighted how using a captive insurance company can drive positive ESG outcomes, alongside how the UN Environment Program’s Principles for Sustainable Insurance can aid captive owners to address ESG risks and opportunities. Aon notes that despite variations on the traditional captive definition, all types of captives ... Read the full article
French Non-Life credit fundamentals to worsen in 2023: Fitch
29th November 2022
According to Fitch Ratings, credit fundamentals in the French non-life insurance sector will worsen in the next 12 months as insurers adapt to new market and macroeconomic regimes, while the life segment will remain broadly unchanged. Fitch expects lower earnings for the non-life segment, which is driven by lower technical profitability, ... Read the full article
Howden CEO predicts $2bn of private-funded disaster insurance capacity over next five years
29th November 2022
A new article by David Howden, founder and CEO of the Howden Group, says that forecasts that $2bn of private funded disaster insurance capacity can be delivered in the next few years. Writing on LinkedIn, Howden said that he believes that this extra capacity can be delivered within the next three-to-five ... Read the full article
CyberCube reveals Version 4.0 of Account Manager
29th November 2022
Cyber risk analytics provider CyberCube, has released Version 4.0 of Account Manager, its software-as-a-service (SaaS) application for single risk re/insurance underwriters. The latest version of Account Manager includes a variety of improvements including new data, usability enhancements, as well as scoring and signal refinements. New financial quantification insights have also been introduced, ... Read the full article
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