Reinsurance News
Kestrel Group appoints Dan Dijak to new senior role
15th November 2022
The Kestrel Group, a strategic entity created to service program managers, MGAs, reinsurers and reinsurance brokers, has appointed Dan Dijak to be its new senior vice president of business development. Dijak joined the firm at the beginning of the month. His most-recent role was as head of US insurance markets at ... Read the full article
Heritage to raise rates & adjust portfolio amid rising reinsurance costs
15th November 2022
In Heritage's Q3 earnings call, Ernie Garateix, CEO, suggested that the firm is raising its rates and evaluating its portfolio as the cost of reinsurance increases alongside capacity constraints. Garateix commented, “Getting appropriate rates for our coverage offer is paramount. We continue to take rates in all our markets to keep ... Read the full article
Liberty Mutual hires Gosselin as Global Leader, Energy & Transition Risk
15th November 2022
Liberty Mutual Insurance has appointed Mike Gosselin as Global Leader, Energy & Transition Risk, where he will report to Global Risk Solutions President, Insurance Solutions, Elizabeth Geary. Based in London, Gosselin brings more than 25 years of global underwriting experience in the energy sector, including 21 years at Liberty Specialty Markets ... Read the full article
V20 and G7 launch Global Shield initiative at COP27, backed by World Bank
15th November 2022
The Vulnerable 20 Group of Finance Ministers (V20) of 58 climate vulnerable economies and the Group of Seven (G7) have launched the Global Shield against Climate Risks, an initiative for pre-arranged financial support designed to be deployed during climate disasters. Launched at COP27 this week, initial contributions to the initiative include ... Read the full article
Citizens increases Ian loss estimate to $3.8bn, expects 37% to be ceded to reinsurers & FHCF
15th November 2022
Florida’s residual market insurer, Citizens Property Insurance Corporation, has released a revised projection of $3.8 billion of direct losses and loss adjustment expenses from Hurricane Ian, of which it expects $1.4 billion to be ceded to private reinsurers and the Florida Hurricane Catastrophe Fund (FHCF). The newly announced $3.8 billion total ... Read the full article
Swiss Re’s Ojeisekhoba joins JLL Board
15th November 2022
Jones Lang LaSalle Incorporated (JLL), a professional services firm specialising in real estate and investment management, has announced that Moses Ojeisekhoba has been elected as an independent, non-executive member of its Board of Directors effective Dec. 1st, 2022. Since July 2016, Ojeisekhoba has served as the Chief Executive Officer Reinsurance for ... Read the full article
Midwest Holding reports substantial improvement in Q3 net income
15th November 2022
Midwest Holding Inc. has posted a $7.4 million GAAP net income for the third quarter of 2022 against a $3.1 million loss from the third quarter of 2021. Net investment income in 2022's third quarter was $12.9 million compared with $6.2 million in the prior- year's third quarter. Alongside the year-on-year improvement in net income, Midwest also ... Read the full article
Antares Global Management Bermuda approved as Lloyd’s coverholder
15th November 2022
Antares Global Management (AGML Bermuda) has received approval from Lloyd’s to operate as a Lloyd’s in-house coverholder. This will enable AGML Bermuda to write Lloyd’s business on behalf of Antares Syndicate 1274 from Bermuda, in addition to the managing agent’s operations in Singapore, Antares Underwriting Asia Pte Limited. Michael van der Straaten, ... Read the full article
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
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