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Helios acquires 2% stake in Lloyd’s LLV as capacity quest continues

18th November 2021

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired a 2% shareholding in a holding company of a group of Limited Liability Vehicles (LLV). The company announced in August its intention to bulk up its capacity using high quality syndicates at the historic insurance and reinsurance marketplace. As a ... Read the full article

BMS Re Brazil adds Pedro Carvalho as Head of Fac

18th November 2021

BMS Re, the specialist reinsurance broker, has announced the addition of Pedro Carvalho as Head of its Brazilian facultative department, effective immediately. In his new role as Head of BMS Re Brazil's fac unit, Carvalho will be based in São Paulo and will report to José Leão, Chief Executive Officer (CEO) ... Read the full article

Brit closes $380m loss portfolio transfer with RiverStone International

18th November 2021

Specialty insurer and reinsurer Brit Ltd has announced the completion of a loss portfolio transfer (LPT) agreement with run-off specialist RiverStone International (RiverStone). The deal is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is effective from 1 ... Read the full article

Hiscox names Liz Breeze as interim Group CFO

18th November 2021

Global specialist insurer and reinsurer, Hiscox, has announced that the Chief Financial Officer (CFO) of its reinsurance and insurance-linked securities (ILS) unit, Liz Breeze, will take over as interim CFO of the Group. Breeze's appointment remains subject to regulatory approval, and she will assume her new role while the company continues ... Read the full article

Private US P&C insurers posted strong net income growth in H1 2021: Verisk

18th November 2021

A joint report from Verisk and the American Property Casualty Insurance Association (APCIA), has shown that private property/casualty insurers in the United States posted strong net income growth in the first half of 2021. As the U.S. economy recovers from the pandemic, insurers' net income rose to $37.5 billion in the ... Read the full article

Ardonagh’s 9M 2021 income rises 30%

18th November 2021

UK-based independent insurance distribution platform and global brokerage, The Ardonagh Group, has reported a 30% rise in income for the first nine months of 2021 to £675.7 million, supported by strong growth in its Specialty and International units. Total income improved markedly from the £519.5 million reported for the same period ... Read the full article

Helios acquires LLV Queensbury Underwriting

18th November 2021

Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the competition of a further limited liability vehicle (LLV) acquisition. Queensberry Underwriting Limited was acquired for a cash consideration of £800,000. It will provide Helios with further syndicate capacity of £2.2 million. This time last month, Helios confirmed that it had ... Read the full article

WhenFresh partners with Ambiental on FloodScore Climate data

18th November 2021

Property data specialists WhenFresh has announced further collaboration with risk management and predictive analytics firm Ambiental to make available its FloodScore Climate dataset available via its proprietary API. Ambiental’s FloodScore Climate solution is designed to enable the re/insurance and banking sector to respond to the Bank of England's regulatory requirements. It does ... Read the full article

CyberCube updates Broking Manager

18th November 2021

Cyber analytics provider, CyberCube has launched an updated version of Broking Manager, a solution designed specifically for insurance brokers. The new software enables brokers to instantly produce cyber financial loss reports on millions of companies while providing rich information to help them articulate their clients’ cyber exposure, whether they specialise in ... Read the full article

Risk transfer is at the heart of low carbon transition: Rowan Douglas, WTW

17th November 2021

The global risk transfer industry will prove vital in how society is going to manage and orchestrate an orderly transition to a low carbon economy, according to Rowan Douglas, Head of the Climate and Resilience Hub at Willis Towers Watson (WTW), and Chairman of Willis Research Network. Reinsurance News spoke recently ... Read the full article

Essent secures $439mn mortgage reinsurance transaction

17th November 2021

Essent Group subsidiary Essent Guaranty has obtained $439.4 million of fully collateralised excess of loss reinsurance coverage on mortgage insurance policies written in April 2021 through September 2021. The cover was obtained from newly formed Bermuda special purpose insurer Radnor Re 2021-2. Radnor Re 2021-2 Ltd. is not a subsidiary or an ... Read the full article

Beazley rolls Product Recall insurance out to Canadian market

17th November 2021

Specialist insurer Beazley has expanded its portfolio in Canada with the launch of its Product Recall product offering to the national market. The new range includes coverage for three different product offerings and will be available throughout Canada. Underwriter Evan Pollock joined Beazley as Lead Product Recall Underwriter last month, bringing experience ... Read the full article

Arch Insurance Intl. adds Tom Stoyle to Contingency team

17th November 2021

Arch Insurance International, part of Arch Capital Group, has announced the appointment of Tom Stoyle as Senior Underwriter, Contingency, effective 24th November. Stoyle will join Arch from Hiscox, where he has served as a Contingency Underwriter since 2016. He joined Hiscox in 2013 and initially worked within the Political Risk, Contingency and ... Read the full article

Harry Simpson to lead BMS’s terrorism and political violence team

17th November 2021

Independent reinsurance broker BMS has appointed Harry Simpson to lead the company’s new terrorism and political violence team. The team will report to Chris Ritchie, managing director of international direct & facultative, BMS group. Simpson brings over 19 years’ experience in the terrorism and political violence field. Until he resigned to join BMS he ... Read the full article

Fairfax to offload 10% of Odyssey Group in $900mn-rated deal

17th November 2021

Property and Casualty re/insurance holding company Fairfax Financial has entered into a $900 million agreement to offload a 9.99% interest in Odyssey Group, its US re/insurance subsidiary. The transaction will be achieved via a sale of securities to affiliate CPPIB Credit Investments and OMERS, a defined benefit pension plan for Ontario’s municipal sector employees. ... Read the full article

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