Reinsurance News
Hurricane Ian to have immediate impact on E&S property market: CRC
10th November 2022
Hurricane Ian is expected to have an “immediate and substantial” impact on the excess and surplus (E&S) lines property market, according to the latest edition of the REDY Index by CRC Group. The Index shows that the property catastrophe market had already been tightening prior to Hurricane Ian’s landfall, but that ... Read the full article
Andy Blasher joins WTW’s Corporate Risk and Broking team
10th November 2022
Global advisory, broking and solutions company, WTW, has appointed Andy Blasher as a Global Client Advocate in its Corporate Risk and Broking (CRB) business. Blasher brings over 25 years of brokerage and carrier experience to the company. In his new role he will leverage his industry expertise in retail, hospitality and ... Read the full article
Garcia Larriu named General Manager Insurance for LSM Spain
10th November 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance’s Global Risk Solutions division, has appointed Alfonso Garcia Larriu General Manager Insurance, Spain. Based in Madrid, Garcia Larriu will report to Kadidja Sinz, Head of LSM Central Region (Europe and MENA). He will be responsible for leading the team and delivering on ... Read the full article
Copper unveils $500m of cold storage insurance, led by Canopius & brokered by Aon
10th November 2022
Copper.co, a provider of institutional digital asset custody and trading solutions, has secured $500 million of insurance protection for digital assets in cold storage from a panel of carriers led by specialty insurer and reinsurer, Canopius, and arranged by re/insurance broker Aon. For Copper, obtaining this level of insurance coverage follows ... Read the full article
Ambac acquires All Trans Risk Solutions & Capacity Marine Corporation
10th November 2022
Financial services holding company Ambac has announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corporation. All Trans Risk Solutions operates as a full service managing general underwriter (MGU) specialising in commercial automobile insurance for specific "for-hire" auto classes. Meanwhile, Capacity Marine Corporation is ... Read the full article
SageSure and Gooshead partner up to launch Elevate
10th November 2022
Insurance provider SageSure and personal lines insurance agency Goosehead are to partner up and launch a reciprocal exchange called Elevate. The Texas-domiciled Elevate will look to protect homeowners in coastal states. It is exclusively available for distribution by Goosehead producers enrolled with SageSure, Elevate homeowners' insurance is developed, underwritten, and serviced by ... Read the full article
CTA expands Natural Resources capability in Asia
10th November 2022
International loss adjusting business, Charles Taylor Adjusting (CTA) has announced the opening of a new office in Vietnam, expanding its Natural Resources capability in Asia. According to the announcement, this “strategic expansion” will allow CTA to offer technical loss adjusting services across mining, power and energy business sectors, with a focus ... Read the full article
Kin Insurance reports 72% GWP increase in Q3
9th November 2022
Kin Insurance has reported a gross written premium (GWP) of $47.6 million in the third quarter of 2022, a 72% increase compared to $27.7 million from the third quarter of 2021. This now brings the company’s GWP year-to-date total to $172.5 million. Gross profit for the quarter was $14.8 million, a major ... Read the full article
Maiden sees $12.6m underwriting loss in Q3
9th November 2022
Maiden Holdings Ltd has reported a net loss of $8.2 million for the third quarter of 2022 compared to a net income of $2.9 million from the prior year quarter. Non-GAAP operating loss was $21.1 million for the quarter, compared to a Non-GAAP operating loss of $3.1 million from the same ... Read the full article
David Mann to lead Everest Reinsurance UK Casualty team
9th November 2022
Everest Reinsurance, the reinsurance division of Everest Re Group, has announced the appointment of David Mann as Vice President, Head of Casualty for Everest Reinsurance (Bermuda) for the UK Branch. In his new role, Mann will lead the growth of the London Casualty Treaty portfolio and Professional Lines, supporting the company’s ... Read the full article
Argo clashes with investors ahead of AGM vote
9th November 2022
Bermuda-based specialty P&C insurer Argo continues to butt heads with activist investor Capital Returns Master, Ltd. as they both seek to sway shareholders ahead of a key vote on the composition of Argo's Board of Directors at its annual general meeting (AGM) next month. Last month, Capital Returns and other participants ... Read the full article
Ascot expands US marine team with new hires
9th November 2022
Specialty insurer and reinsurer Ascot has appointed Jon Mosby to be its new senior vice president and head of inland marine. The firm said in a statement that Mosby will report to Tom Nasso, executive vice president and head of US marine, and will be be responsible for managing Ascot’s US ... Read the full article
McGill and Partners adds Petersen to US Casualty team
9th November 2022
Specialist re/insurance broker McGill and Partners has appointed Casey Petersen Partner and Head of the US Casualty team. In his new role, Petersen will be responsible for building out and maintaining the US client base for large casualty; including general liability, workers compensation, auto liability, and umbrella/excess liability. Petersen has over 23 ... Read the full article
Survey finds immediate economic risks prioritised over tech and environment
9th November 2022
G20 business leaders are more focused on short-term economic concerns - like rapid inflation, debt crises, and the cost of living crisis - than on environmental and cyber risks, according to a recent survey. These findings were published in this year’s Executive Opinion Survey, conducted by the World Economic Forum’s Centre ... Read the full article
Aon acquires ERN to drive cat modeling & consultancy in LatAm
9th November 2022
Global professional services firm, Aon, has acquired ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk assessment modeling. The acquisition will help drive and expand Aon’s catastrophe modeling and consultancy capabilities in Latin America. Founded in 1996, ERN has developed modeling capabilities that are specific to Latin America and backed by ... Read the full article
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