Reinsurance News
Insurers may face exposures from surging housing market: Swiss Re
11th August 2022
A new report from the Swiss Re Institute states a record high in housing prices accompanied by inflated household debt has created an increasingly challenging market. Insurers are warned to carefully manage their business and investment risk exposure. Surging interest rates are making new house purchases less affordable and increasing mortgage ... Read the full article
Apollo appoints Kate Foster to new role
11th August 2022
Apollo has appointed Kate Foster as its new head of property for Syndicate 1969. Foster is moving over from Beazley, where she has been a property underwriter at the firm since 2017. Prior to this, she has held various senior underwriting roles in the property sphere at companies including Berkshire Hathaway ... Read the full article
New Credit Risk Insurance Policy model form published
11th August 2022
The Loan Market Association (LMA) has published a new model form of Credit Risk Insurance (CRI) Policy. According to the association, this was done in conjunction with Lloyd’s Market Association and the International Underwriting Association (IUA). It said that the CRI Policy is drafted for the purposes of insuring single borrower ... Read the full article
UK PRT market ‘strongest European growth opportunity’ for insurers: JP Morgan
11th August 2022
The UK’s pensions risk transfer (PRT) market is one of the strongest growth opportunities in European insurance, according to JP Morgan. A new report from the financial giant states that while there are high barriers for new entrants, there is at least a £600m growth opportunity over the next ten years. This, ... Read the full article
Berkshire Hathaway Specialty launches E&P Lines in Switzerland, appoints Head
11th August 2022
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global insurance and reinsurance company, has announced the launch of Executive & Professional (E&P) Lines coverage in Switzerland, naming Christoph Kammermann as Head. Leander Metzger, Country Manager of Switzerland BHSI, said, “Our momentum in Switzerland continues to build quickly with ... Read the full article
Crum & Forster names Nick Cook as new chief risk officer
11th August 2022
Crum & Forster has named Nick Cook to its new position of chief risk officer. Cook will report in his new position to Marc Adee, chairman and CEO of the firm. In this newly formed role, Cook will lead claim audit and claim litigation management in addition to continuing to oversee ... Read the full article
Planck unveils new risk search engine for commercial insurers
11th August 2022
Leading AI-powered business intelligence platform, Planck, has launched a new risk search engine built specifically for commercial insurance research. The new risk search engine solves for the shortcomings of traditional research methods, which are ineffective and time consuming. The proprietary solution returns real-time results mined from billions of public sources and unindexed ... Read the full article
Malaysia’s non-life insurance segment outlook remains stable: AM Best
11th August 2022
AM Best has maintained a stable outlook on the Malaysian non-life insurance segment on account of its underwriting discipline and the market’s recovery following the economic crisis caused by COVID-19. The Malaysia non-life insurance market has shown modest expansion, with a five-year average compound annual growth rate (CAGR) of 1.8% in ... Read the full article
“Sharp rise” being seen in solar farm fires: Firetrace International
11th August 2022
A recent study by Firetrace International, a leading provider of fire suppression technology, indicates that solar farm fires are seeing a sharp rise. The report, titled “Hidden Danger - why solar farm fire risk could be greater than you think,” highlights that the industry could possibly be misjudging the threat of ... Read the full article
SCOR well placed to handle shifting and uncertain landscape, says CEO
10th August 2022
Industry giant SCOR remains well placed to handle the current economic uncertainty, according to CEO Laurent Rousseau. Rousseau’s remarks came from the firm’s H1 2022 earnings call. Last week, the firm reported a net loss of €239m for the first half of 2022, driven by claims related to the drought ... Read the full article
Betterview to provide wildfire insights through engagement with NFPA
10th August 2022
Insurtech provider Betterview has teamed up with the National Fire Protection Association (NFPA) to provide property and community-level wildfire insights. NFPA is a non-profit organisation that is devoted to eliminating death, injury, property, and economic loss due to fire, electrical, and related hazards. The company is focused on helping insurers in ... Read the full article
GCube announces opening of Houston office amid underwriting team expansion
10th August 2022
GCube, a member of the Tokio Marine HCC group, has announced the opening of its Houston office, accompanied by a new senior appointment in Sarah Bratton. Bratton joins GCube from Ascot Underwriting and holds over ten years of experience in the energy and power generation underwriting business. She underwrites property and ... Read the full article
National Western Life in reinsurance transaction with Aspida Life Re
10th August 2022
Texas-based National Western Life has announced the execution of an annuity reinsurance transaction with Aspida Life Re Ltd. – a Bermuda-based reinsurer. The transaction was effective July 1, 2022. The reinsurance transaction is a strategic move that is designed to support plans previously announced by National Western Life to grow its business ... Read the full article
Aqueous appoints William Hall to new position
10th August 2022
Aqueous has appointed William Hall as a senior development underwriter. Hall is moving over from his current position at Brunel Professions where he works as an associate director. Terry Shaw, head of PI at Aqueous, said: “I’m pleased to welcome William to the growing team at Aqueous. His track record and experience ... Read the full article
Talanx profits increase despite higher cat losses
10th August 2022
Germany’s Talanx Group, the parent of reinsurer Hannover Re, has reported improved income and operating earnings for the first half of 2022 despite a considerable increase in large losses from catastrophe events, as well as a double-digit rise in premiums. Group net income increased from €546 million for the six-month period ... Read the full article
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