Reinsurance News
QIC Global appoints Stewart Smith to newly created Business Development Officer role
5th September 2022
QIC Global, the international specialty re/insurance subsidiary of Qatar Insurance Group, has announced the appointment of Stewart Smith as business development officer, effective immediately. Smith is set to work across all QIC Global entities to help each identify new areas of opportunity and increase operating efficiency. Having worked in the London market ... Read the full article
R&Q falls to $137m loss for H1
5th September 2022
Bermuda based insurer R&Q Insurance Holdings Ltd has reported an overall loss of $136.7 million from operations before income taxes across its business segments during the first six months of 2022, following large investment losses caused by volatile market conditions. The negative performance follows on from a loss of $45.4 million ... Read the full article
Jensten Group launches new underwriting business
5th September 2022
The Jensten Group, provider of tailored insurance solutions, has unveiled its new underwriting business, Jensten Underwriting, which brings together three well known MGA’s under a single brand. According to the Group, its newly launched underwriting business has also now become one of the largest MGAs operating in the UK insurance market. The ... Read the full article
Marsh McLennan Agency acquires Steinberg & Associates
5th September 2022
Marsh McLennan Agency (MMA), the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of Steinberg & Associates, Inc., an independent agency based in Spartanburg, South Carolina. Steinberg & Associates was founded in 1969, offering employee health and benefits, estate planning, and private client services to midsize ... Read the full article
Probitas 1492 to enter split RITC transaction with Enstar to cover exposures
5th September 2022
Probitas 1492, an underwriting Syndicate at Lloyd’s of London, has announced that its managing agent, Probitas Managing Agency Limited, has signed an agreement with Enstar to undertake a split reinsurance-to-close (RITC) transaction to cover previous account exposures. Specifically, the RITC will cover the 2018 and prior years of account exposures of ... Read the full article
Asian reinsurers to focus on discipline and price amid inflation & climate change: Fitch
5th September 2022
In Asia, persistent inflation is a threat to the profitability of the reinsurance market and is happening at a time of elevated weather-related losses for carriers, a trend Fitch warns could accelerate as a result of the changing climate. Analysts at ratings agency Fitch believe that prolonged high inflation could lift ... Read the full article
Mark Everiss joins Eversheds Sutherland as partner
5th September 2022
Eversheds Sutherland has announced the hire of Mark Everiss as a partner in its Insurance Group. Everiss holds over two and half decades of experience in the re/insurance sector across both contentious and non-contentious matters. He is also regularly instructed in reinsurance disputes in the live and legacy markets, at all ... Read the full article
Focus should be on loss prevention to tackle risk of battery fires in shipping: Allianz
5th September 2022
With lithium-ion (Li-ion) batteries having an increasing impact on shipping safety, prevention measures are crucial to tackle the risk of battery fires in vessels, according to a new risk bulletin from marine insurer Allianz Global Corporate & Specialty (AGCS). An AGCS analysis of over 240,000 marine insurance industry claims over the ... Read the full article
Generali Romania partners with Intermap for flood risk assessment solution
5th September 2022
Intermap Technologies has announced Generali Romania is expanding its risk assessment capabilities by incorporating Intermap's Aquarius RMA (Aquarius) cloud-based flood risk solution into its core insurance processes. The Aquarius software solution is composed of multiple analytics and geocoding capabilities which will provide Generali Romania with a comprehensive picture of the possible ... Read the full article
Investment volatility to constrain China Re earnings: S&P
5th September 2022
Analysts at S&P Global Ratings have warned that investment market volatility will constrain China Reinsurance (Group) Corp.'s earnings, potentially eating into its capital buffer and potentially eclipsing the progress it has made in overhauling its underwriting. The rating agency notes that China Re is more susceptible to credit and market risks ... Read the full article
AccuRisk Holdings invests in insurtech MyHealthMath
5th September 2022
AccuRisk Holdings, a leader in health solutions innovation has announced an investment in insurtech firm, MyHealthMath. MyHealthMath combines the power of big data and mathematical modeling with personalised live engagement to give employees, employers, carriers and consultants unparalleled healthcare benefits decision support. The company is based in Poland, Maine, and has direct ... Read the full article
Paragon Insurance Holdings acquires Reel Media
5th September 2022
Paragon Insurance Holdings LLC, a Galway Holdings company writing all commercial lines of insurance, has acquired Reel Media, LLC, a insurance solutions provider for the broader entertainment and sports industries. This acquisition, Paragon noted, is part of the company’s bid to diversify and expand into the global specialty markets. Reel Media has ... Read the full article
Critical role for re/insurers in net zero transition & enabling climate tech: PwC
3rd September 2022
With the back-in-person Monte Carlo Rendez-vous reinsurance industry event happening in just a week's time, PwC is highlighting the important role of re/insurers and underwriters in supporting the transition to net zero, as well as in enabling climate tech innovation. PwC is hosting a special session (details below) at the ... Read the full article
Cyber supply chain risk reveals re/insurance market challenges: SCOR
2nd September 2022
In a recent report, French reinsurance firm SCOR has addressed the potential challenges for the market amidst the growing concern of cyber-attacks on digital supply chains. SCOR states that cyber-attacks have been a growing anxiety over the last 18 months as traditional and IT supply chains are becoming increasingly entangled to ... Read the full article
Compre names Zisaruk Executive Director, Capital, Planning and Projects
2nd September 2022
Compre, the Bermuda headquartered international legacy group has appointed Jonathan Zisaruk to the newly created role of Executive Director – Capital, Planning and Projects, effective 5 September, 2022. Zisaruk will be based in London and will report to Group CEO, Will Bridger. Within this new role, Zisaruk will be responsible for strategic ... Read the full article
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