Reinsurance News
Liberty Mutual Re appoints Nick Noguera as business development manager
18th August 2022
Liberty Mutual Re has appointed Nick Noguera as a business development manager for the London Broker market. The firm said that Noguera will report to Miguel Martinez Alvarez with what it calls ‘a dotted line’ to Max Mallen and the portfolio team that is based in London. According to his LinkedIn profile, ... Read the full article
Insurtech startup Ledgebrook raises $4.2m in seed funding
18th August 2022
Boston-based insurtech, Ledgebrook, has announced that it has raised $4.2M in seed funding to build out its operations with the goal of writing its first policies in Q4 of 2022. The company plans to start by launching a broad-appetite E&S GL product to establish its value prop to wholesale brokers ahead ... Read the full article
AXA XL appoints Lahrmann as Senior Underwriter, Intl Property, Insurance UK & Lloyd’s
18th August 2022
AXA XL Insurance has appointed Sabrina Lahrmann as Senior Underwriter, International Property, UK & Lloyd’s, with immediate effect. Within her new role, Lahrmann will be responsible for helping to deliver the strategic and profitable growth of AXA XL’s International Property book of business in the UK, as well as establishing and ... Read the full article
Global reinsurance maintains “prudent approach” to claims reserving: AM Best
17th August 2022
Greater uncertainty arising from global issues, like the COVID-19 pandemic and the Russia-Ukraine conflict, is driving more conservative reserving approaches in the global reinsurance industry, said AM Best in a recent market report. According to the report, before the severe property catastrophe losses in 2017 and 2018, AM Best analyst’s noted ... Read the full article
Nationwide names Hespe Head of Underwriting Performance for E&S/Specialty
17th August 2022
Ohio-based insurer Nationwide has appointed Julie Hespe as the head of Underwriting Performance for the company’s Excess & Surplus/Specialty team. Hespe’s team - the Underwriting & Product Performance Center of Excellence, will have a direct focus on portfolio profitability, underwriting governance and best practices, product management strategy, regulatory compliance and performance. Hespe ... Read the full article
Vida Capital says ‘dramatic change’ to R&Q leadership and strategy would be ‘counterproductive’
17th August 2022
Investment firm Vida Capital, Inc. has today expressed its support of both the current leadership and strategy of R&Q Insurance Holdings Ltd. Vida Capital Management currently manages funds owning some 9.07% of the outstanding shares of R&Q. In a statement, the company, which is a vertically integrated, uncorrelated investment firm specialising in ... Read the full article
Moody’s Analytics and RMS name Andrew Hare as APAC Managing Director
17th August 2022
Andrew Hare has been appointed Managing Director, Asia Pacific at RMS, a Moody's Analytics company that provides risk modelling and solutions. Bringing almost 25 years of experience in the industry, Hare will be responsible for integrating and leading the strategy and execution across the combined RMS and Moody’s Analytics Insurance Vertical, ... Read the full article
IRB Brasil Re execs say crop losses have exceeded retro limits
17th August 2022
The performance of Brazilian reinsurer IRB Brasil Re in Q2 2022 was negatively impacted by the severe drought in the southern part of the country, leading the firm to exceed the limits of its retrocession protection. Yesterday, the company announced an underwriting loss of R$661.0 million (USD 129.1m) for the ... Read the full article
CAC Speciality announces new VP of Private Equity practice
17th August 2022
Insurance broker CAC speciality has announced the appointment of Scott Smith as Vice President of Private Equity practice. Smith joins CAC with a solid business background, holding positions as an investment banker with Citigroup, and a leader with USI Insurance, along with vast experience as an entrepreneur. CAC note that Smith’s innovative ... Read the full article
Munich Re remains the world’s largest reinsurance company
17th August 2022
After taking the top spot last year, global reinsurer Munich Re remains the world's largest reinsurance company, with gross life & non-life reinsurance premiums written of more than $46.8 billion in 2021, as shown by our directory of the Top 50 Global Reinsurance Groups. The directory is ... Read the full article
Beazley’s Smart Tracker to transition into full market-facing syndicate
17th August 2022
Specialist re/insurer Beazley has announced that its Smart Tracker Special Purpose Arrangement (SPA) 5623 will now become a full market-facing syndicate at Lloyd’s, after being granted ‘in principle’ approval. Subject to Lloyd’s agreement of the Syndicate business plan and final approval, it will come into effect from January 1, 2023. From ... Read the full article
AXA XL names Perrotti as CUO for Marine in the Americas
17th August 2022
AXA XL Insurance has promoted Michael Perrotti to the role of Chief Underwriting Officer (CUO) for its Marine insurance business in the Americas. Previously Inland Marine Practice Leader for Marine in North America, Perrotti assumes the CUO role from Anne Marie Elder who will now focus on her role as Global ... Read the full article
Underwriting margins stabilize amid inflation concerns: AM Best
17th August 2022
A recent AM Best report suggests that there is a stable pattern of underwriting profits as companies are becoming more proactive about making explicit allowances for inflationary trends. Numerous business re-alignment initiatives have been taking place over the last three years, says the report. In addition to price increases and more restrictive ... Read the full article
SiriusPoint names Phil Wooldridge Head of London US Casualty
17th August 2022
Global specialty re/insurer, SiriusPoint, has appointed Phil Wooldridge as Head of London US Casualty. Based in London, Wooldridge will start his new role on September 5 and will be reporting to Head of London and International Casualty, Nick Pascall. He brings more than 25 years of experience in the US Casualty markets, ... Read the full article
Cowbell Cyber appoints Julia Cederroth as senior director of reinsurance
17th August 2022
Cowbell Cyber, a cyber insurance provider for small and medium enterprises (SMEs), has appointed Julia Cederroth as senior director of reinsurance. Prior to joining Cowbell, Cederroth served as vice president and cyber treaty broker at Gallagher Re as a member of the Global Treaty Broking team and Cyber Center of Excellence. ... Read the full article
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