Reinsurance News
Ping An’s Larsen sees significant opportunity in carbon transition
15th November 2022
With the COP27 conference underway, Jonathan Larsen, Chief Innovation Officer at Chinese insurer Ping An, says he sees significant opportunities for the insurance and reinsurance industries to finance the transition to a low carbon economy. "Ping An, as a very large China-based financial technology and health company, certainly has the ambition ... Read the full article
Cyber MGA Elpha Secure partners with CyberCube to utilise risk analytics tools
15th November 2022
New York-based MGA Elpha Secure has partnered with CyberCube to utilise two of its cyber risk analytics tools as the business grows to create a compelling case to attract capacity from providers operating within the ILS space. Elpha has licensed CyberCube’s Portfolio Manager platform and its Single Point of Failure (SPoF) ... Read the full article
BHSI’s Craig Taylor promoted to Regional Head of Property, Australia & NZ
15th November 2022
Berkshire Hathaway Specialty Insurance (BHSI) has announced the promotion of Craig Taylor to the expanded role of Regional Head of Property, Australia & New Zealand. Based in Sydney, Taylor brings over 25 years of property underwriting experience to the role. He joined BHSI seven years ago as Head of Property for ... Read the full article
Boizard to retire and Guilliams named Ageas new CFO
15th November 2022
International insurance group Ageas, has announced the retirement of Christophe Boizard as Chief Financial Officer (CFO) after a tenure of more than 11 years. Subject to the necessary regulatory approvals, Wim Guilliams, the current CFO of Ageas’s Belgian subsidiary AG Insurance, will succeed Boizard with effect 1 June 2023. Hans De Cuyper, ... Read the full article
Marsh appoints Christos Adamantiadis as CEO, Continental Europe
15th November 2022
Leading insurance broker and risk advisor, Marsh, has announced the appointment of Christos Adamantiadis as CEO, Continental Europe, effective from the 1st of January 2023. Adamantiadis joined Marsh back in 2018 and is currently CEO of Marsh’s Middle East and Africa region. Before joining the firm, he was Chief Executive of UAE-based ... Read the full article
CoreLogic estimates Hurricane Nicole losses to be less than $750m
15th November 2022
A new note from CoreLogic says that it estimates that privately insured gross modelled losses from Hurricane Nicole will be less than $750m. The firm said on its website that these losses include those from hurricane winds and storm surge and do not include increased losses due to assignment-of-benefits. Nicole made landfall ... Read the full article
Chubb’s Bartolo appointed as Global Segment Leader for EIL at SCOR
15th November 2022
Global reinsurer SCOR has appointed Emma Bartolo as the Global Segment Leader for its Environmental Impairment Liability (EIL) insurance portfolio. Bartolo, who is based in London, will join SCOR in February 2023. She will report to Marie Biggas, Chief Underwriting Officer of SCOR UK and Active Underwriter of the SCOR Syndicate, and ... Read the full article
VIG sees significant premium growth of 13.6% to €9.5 billion in Q3
15th November 2022
The Vienna Insurance Group (VIG) has reported premium growth across all lines of business and segments in Q3, with a total increase of 13.6% to €9.5 billion. The group notes that this includes the first-time consolidation of the most recently acquired insurance companies in Hungary and Türkiye, with premiums of around ... Read the full article
Oxbridge Re posts $2.2mn net loss in Q3
15th November 2022
Oxbridge Re Holdings Ltd. has reported a net loss of $2.2 million for the third quarter of 2022 compared to a net income of $6.5 million from the third quarter of 2021. The company’s net loss year-to-date total currently sits at $2.5 million compared to a $7 million net income from ... Read the full article
COP27: Swiss Re’s Scotti urges re/insurers to fund climate adaptation projects
15th November 2022
Veronica Scotti, Chairperson for Public Sector Solutions at Swiss Re, has called for re/insurers to fund “transformative” climate adaptation projects to improve resilience, and says that the ongoing COP27 conference represents the “perfect opportunity” to drive this change. “Mitigation efforts aimed at cutting future emissions alone will not be enough," Scotti ... Read the full article
Hub International launches ProEx Specialty Practice
15th November 2022
Hub International Limited (HUB), a global insurance brokerage and financial services firm, has announced the launching of its Professional & Executive Risk (ProEx) Specialty Practice. According to the announcement, this new practice formalises HUB's Specialization in Professional and Executive Liability Insurance Products, Risk Solutions and Claims Services. It brings together over 100 ... Read the full article
African insurers pledge $14bn of cover to take up climate change fight
15th November 2022
A group of over 85 insurers in Africa have pledged to create a financing facility to provide $14 billion of cover to help protect 1.4 billion people within the continent against floods, droughts, and tropical cyclones. The commitment to create the African Climate Risk Facility (ACRF) was made during the ongoing ... Read the full article
Private finance needed to help fight climate change: German state secretary at COP27
15th November 2022
Germany’s state secretary in the federal ministry for economic cooperation and development has highlighted the role that private finance can play in the fight against climate change. Speaking at the COP27 conference in Sharm El Sheikh, Jochen Flasbarth said that the gap between the resources that governments have and what is ... Read the full article
PCRIC to add early payout triggers for parametric drought cover
15th November 2022
Aholotu Palu, CEO of the Pacific Catastrophe Risk Insurance Company (PCRIC), has said that his firm has been in discussion with stakeholders regarding a parametric drought insurance product with early payout triggers. Speaking in Egypt during the COP27 climate conference, Palu contributed to a panel that explored innovative solutions in disaster ... Read the full article
Rhino signs agreements with Ally Insurance, ReAlign, and Clear Blue
15th November 2022
Real estate technology firm Rhino has signed a series of agreements with a host of re/insurance firms that includes Ally Insurance, ReAlign, and Clear Blue Insurance Group. These agreements, the details of which have not been released, follow several key milestones earlier this year that demonstrated continued growth and accelerated adoption ... Read the full article
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