Reinsurance News
Peak Re names Matteo Cussigh as SVP of Markets
16th September 2020
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited, has announced the appointment of Matteo Cussigh from NewRe as Senior Vice President (SVP) of Markets. Cussigh brings two decades of reinsurance industry service to the role, with experience in both traditional reinsurance and alternative risk tools with brokers and reinsurers. Prior to Peak ... Read the full article
SRS acquires Dyna Management Services
16th September 2020
Strategic Risk Solutions (SRS) has announced that it will be acquiring the operations of Dyna Management Services Ltd. Dyna is an independently owned insurance management company headquartered in Bermuda. It’s been decided that all staff of Dyna will remain with the firm, including Terence Power, the current CEO and founder of Dyna, ... Read the full article
AXA XL reveals key findings of disaster recovery study
16th September 2020
AXA XL, the property & casualty and specialty risk division of AXA, has partnered with the Cambridge Centre for Risk Studies on a study exploring the role re/insurers play in disaster recovery, and plans to launch a new Disaster Recovery Board. The firm also plans to create a new open source database using ... Read the full article
Hannover Re provides property cat reinsurance outlook
15th September 2020
Global reinsurers Hannover Re sees the COVID-19 pandemic as having added further challenges to a reinsurance market already distressed by successive years of major natural catastrophe losses. When it comes to property catastrophe business, this has resulted in an overall favourable trading environment for reinsurers throughout all renewals in 2020 so ... Read the full article
Canopius appoints Lisa Davis President, CUO of US business
15th September 2020
Global specialty re/insurer Canopius has appointed Lisa Davis as President and Chief Underwriting Officer of its US business. Effective October 1, Davis reports to group Chief Underwriting Officer Mike Duffy and will oversee all of the group's US operations, comprising of Canopius US Insurance in Chicago and Canopius Underwriting Agency in ... Read the full article
Lemonade set to enter France by end of 2020
15th September 2020
Insurtech startup Lemonade has named France as its next European market, following previous expansions into the Netherlands and Germany. The company is planning to make its new multi-risk insurance available in France by the end of 2020. Once launched, Lemonade says consumers in the country will be able to file claims and ... Read the full article
Aon’s Jerry Blake to join Gallagher Re as partner in 2021
15th September 2020
Specialist reinsurance broker Capsicum Re has appointed Jerry Blake partner within Gallagher Re, effective September 2021. The company announced this month plans to rebrand itself to better reflect its parent company, aligning its reinsurance business with the broader Gallagher retail and wholesale insurance broking arm. Capsicum Re was launched in December 2013 as ... Read the full article
AXIS Re promotes Rodriguez to Head of Intl. Credit & Surety, Global Markets
15th September 2020
The reinsurance arm of Bermuda-based AXIS Capital Holdings Limited, AXIS Re, has promoted Camilo Rodriguez to Head of International Credit & Surety within its Global Markets unit. In his new role, he will remain in the company's Zurich, Switzerland office and will report to Ann Haugh, President of Global Markets. Rodriguez first ... Read the full article
SCOR execs anticipate more demand for re/insurance next year
15th September 2020
Senior executive officers from SCOR have said they are expecting to see increased demand for insurance as the market heads into the 2021 renewals, with primary players also looking to secure more reinsurance to protect their capital. Last week, SCOR said that it viewed current P&C market conditions as very ... Read the full article
Munich Re to partner with digital agriculture firm Farmers Edge
15th September 2020
Global reinsurer Munich Re is partnering with digital agriculture firm, Farmers Edge, on data-driven parametric weather insurance solutions. Farmers Edge says Munich Re’s reinsurance expertise will help combat risks associated with parametric coverage while also establishing business resiliency amid the COVID-19 pandemic. The Farmers Edge risk management platform FarmCommand helps automate all ... Read the full article
Insurers estimate additional COVID-19 BI costs after UK High Court judgement
15th September 2020
Global re/insurers have responded to the UK's High Court ruling in favour of policyholders on the majority of key issues, providing estimates for additional COVID-19 business interruption (BI) claims. Earlier today, the UK court passed its judgement on the Financial Conduct Authority’s (FCA) BI insurance test case, ruling in favour ... Read the full article
Tremor to run live auctions for Hurricane Sally
15th September 2020
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has announced it will be running three auctions today for live risk transfer on Hurricane Sally. Sally is currently approaching the US Gulf Coast and is threatening Florida, Mississippi and Alabama with 85mph (135km/h) winds and potentially deadly storm surges. With five named ... Read the full article
UK court sides with policyholders in COVID BI case
15th September 2020
The UK’s High Court has passed its long-awaited judgement on the Financial Conduct Authority's (FCA) business interruption (BI) insurance test case, ruling in favour of policyholders on the majority of key issues. The financial regulator brought the case forward in May to seek legal clarity on whether insurers were obligated ... Read the full article
DARAG concludes reinsurance business transfer with Malta’s Axeria Re
15th September 2020
Legacy acquirer DARAG has concluded the transfer of reinsurance business with Axeria Re, part of the April Group, and the original insurer domiciled in France. The conclusion of this reinsurance transaction delivers economic, operational, and legal effect to Maltese reinsurance company, Axeria Re. The deal will be conducted via DARAG Malta Insurance ... Read the full article
Swiss Re steps up internal carbon levy
15th September 2020
As part of its efforts to transition to net-zero emissions in operations by 2030, Swiss Re has announced that it will increase its internal carbon levy to $100 per tonne as of 2021. The new levy is considerably higher than the current levy of $8 per tonne CO2, and is set ... Read the full article