Reinsurance News
Cyber changing rapidly but still fails to meet definition of insurability: Swiss Re
22nd November 2022
A new study from the Swiss Re Institute says that the insurance industry needs to adopt a new approach to cyber business amidst a changing landscape. The twenty-nine-page report, Cyber Insurance: Strengthening Resilience for the Digital Transformation, says that not only have cyber risk risen alongside geopolitical, economic instability, and reliance ... Read the full article
Arbol hires Chief Legal Officer Matthew Gabin from Swiss Re
22nd November 2022
Global climate risk solutions platform Arbol has announced that Matthew Gabin has joined the company as Chief Legal Officer and Deputy Chief Operating Officer (COO). Gabin is a veteran lawyer with extensive experience in parametric reinsurance, weather risk transfer, and insurance-linked securities (ILS). He joins Arbol from Swiss Re, where he served ... Read the full article
Bermuda, Cayman & Barbados captives still outperforming commercial peers: AM Best
22nd November 2022
Rated Bermuda, Cayman Islands and Barbados (BCIB) captive insurance companies have continued to outperform US commercial casualty peers, with a combined ratio approximately 13 percentage points better over the most recent five-year period, suggests a recent AM Best report. The report notes that the present hard insurance market has provided growth ... Read the full article
Verisk Extreme Event Solutions names Eric Gesick SVP of Casualty Analytics
22nd November 2022
Verisk Extreme Event Solutions (formerly known as AIR Worldwide) has appointed insurance expert, Eric Gesick, as Senior Vice President of Casualty Analytics, a position based in New Jersey. According to Dr. Jay Guin, Chief Research Officer and EVP at Verisk Extreme Event Solutions, Gesick’s knowledge and expertise will be applied to ... Read the full article
Florida generates the most homeowners premiums in the US: AM Best
22nd November 2022
Florida is the US state with most premiums in homeowners insurance lines, AM Best analysts have revealed. Despite being only the third more populous state, it generated $12.4 billion of homeowners direct premium in 2021. That is more than California, the most populous state, with $11.2 billion of homeowners direct premium, ... Read the full article
WFP & World Bank agree to scale up disaster risk protection
22nd November 2022
The United Nation’s World Food Programme (WFP) and the World Bank have signed an agreement to scale up disaster risk protection financed by Germany and the UK for vulnerable communities and nations that are faced with catastrophic climate extremes like storms and drought. Under the agreement, WFP will receive US$20 million ... Read the full article
Energetic Insurance credit structure helps Redaptive secure financing
22nd November 2022
Redaptive, a San Francisco-based Energy-as-a-Service provider of energy-saving and energy-generating equipment, has gained access to a $50 million credit facility from Rabobank, thanks to a credit insurance structure provided by Energetic Insurance. This three-company partnership is designed to enhance Redaptive’s capability to promote a more than 1,000-site portfolio of energy efficiency ... Read the full article
Pacific Life Re names David Waters as Director of Underwriting in Europe
22nd November 2022
Pacific Life Re has announced the appointment of David Waters as new Director of Underwriting in its Europe Business Unit. In the new role, Waters will be responsible for helping manage external and internal risk, while developing a strong market profile, providing high-quality service to clients, and supporting the sales and ... Read the full article
Persistent US inflation to force a recession in 2023: Swiss Re
22nd November 2022
As US inflation remains above target, the Swiss Re Institute expects the Fed will induce a recession in 2023 to avoid a de-anchoring of inflation expectations. In its report, the Institute states that the drivers of inflation persistence include an imperfect measure of shelter costs, resilient household balance sheets, and lingering ... Read the full article
Russian cyberattacks to cause more insurance disputes: GlobalData
22nd November 2022
A new report from GlobalData says that cyberattacks from Russia could be set to cause more disputes between businesses and insurers following the Zurich-Mondelez case. The firm said in its 2022 UK SME Insurance Survey that 9% of SMEs in the UK that purchased cyber insurance in 2022 said the Russia-Ukraine ... Read the full article
Markel appoints Jessica Cardoso to new role in Bermuda
22nd November 2022
Markel has said that Jessica Cardoso has been appointed head of office for Markel Bermuda in addition to her current role of senior director and head of Bermuda errors and omissions. As head of office for Markel Bermuda, Cardoso will continue to help grow Markel's Bermuda presence and will be responsible ... Read the full article
Nassau acquires Delaware Life Insurance Company of New York
22nd November 2022
Nassau Financial Group, L.P. has entered into a definitive agreement for its subsidiary, Nassau Life Insurance Company (NNY), to acquire Delaware Life Insurance Company of New York (DLNY) from Delaware Life Insurance Company. The transaction is expected to close in the second half of 2023. The transaction is also subject to customary ... Read the full article
Aon Indonesia hires Inti Amaliah as head of reinsurance solutions
22nd November 2022
Aon Indonesia, a regional subsidiary of the global re/insurance broker, has brought Inti Amaliah onboard as its new head of reinsurance solutions. The firm announced the hire through a post on LinkedIn. Amaliah’s own LinkedIn profile indicates that she is joining Aon Indonesia after over five years at Willis Re, where she ... Read the full article
Amwins Global Risks appoints Mark Cody as Managing Director
22nd November 2022
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, has appointed Mark Cody as Managing Director. Cody’s appointments is effective as of January 1, 2023. As Managing Director, Cody will lead team sales support activity, focus on strategic recruitment, enhance client and carrier relationships and identify and capitalise on product ... Read the full article
Lloyd’s Market Association announces renewed approach to membership
22nd November 2022
The Lloyd’s Market Association’s (LMA) Worldwide Property Business Panel (WPP) has announced that it is putting all places up for election and will be asking LMA members to elect managing agents, instead of individuals. It will be the responsibility of each elected managing agent to then put forward the most suitable ... Read the full article
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