Reinsurance News
AXA XL names Enrique López Torrents as Country Manager, Iberia
29th April 2022
AXA XL, the property and casualty (P&C) and specialty risk division of AXA, has announced the appointment of Enrique López Torrents as Country Manager, Iberia, effective May 9, subject to regulatory approval. Within this role, Enrique will succeed José Ramón Morales, who will be leaving AXA XL to pursue opportunities outside ... Read the full article
Ryan Specialty adds Brian Tyluki to renewable MGU
29th April 2022
Ryan Specialty has announced that Brian Tyluki has joined PERse (Power.Energy.Risk), the firm’s renewable energy managing general underwriter, as an Executive Vice President. Tyluki joins PERse with 18 years of energy insurance experience and specializes in underwriting large complex risks for onshore wind and solar clients. “Brian is an experienced property and ... Read the full article
Coalition and Vantage team up
29th April 2022
Coalition has added Vantage to its US excess cyber program. The move is to be undertaken through the Vantage Risk Specialty Insurance Company. Shawn Ram, head of insurance at Coalition, said: “"We are excited to welcome Vantage to our Coalition as we work to solve cyber risk and provide security for all. ... Read the full article
Primary carriers losing trust amid growing cat losses: Liberty Mutual Re
28th April 2022
Miguel Martinez-Alvarez, Head of Business Development at Liberty Mutual Re, has warned that primary carriers are losing the trust of their customers amid growing challenges to their profitability, in part due to rising levels of natural catastrophe losses. Commenting on the uncertainty that increased nat cat events have caused for insurers ... Read the full article
MAPFRE reports €155m earnings in Q1 2022
28th April 2022
MAPFRE is reporting earnings of €155m in Q1 2022, with premiums growing by over 10%. The firm said that it had revenues in the first quarter of the year totalling €7.56bn. It also said that its premiums, at €6.54bn, were at their highest volumes in five years. There was, MAPRFRE reported, ... Read the full article
Mosaic hires Elissa Doroff as head of claims in America
28th April 2022
Mosaic has hired Elissa Doroff to be its new head of claims in America. The firm said that Doroff will over time expand her remit to serve both the US and Canada. She started her insurance career as claims counsel with AIG, and later was cyber and technology product manager at ... Read the full article
Miller makes infrastructure and renewables appointments
28th April 2022
Specialist re/insurance broker, Miller has announced the appointments of Hayley Malin as Head of Infrastructure in its Construction team, and Laura Gil Ramirez as Account Executive in its Renewable Energy and Environmental Technology team (REET). Within their new roles, Hayley will report to Pauline Goreham, Head of Construction, and Laura will ... Read the full article
Commercial insurance prices increased 11% in Q1 2022: Marsh
28th April 2022
Marsh’s latest Global Insurance Market Index shows that commercial insurance prices around the world increased 11% in Q1 2022. Amongst its findings, the survey found that cyber insurance rates continued to rise driven largely by the continued increase in the frequency and severity of ransomware claims with many insurers seeking to ... Read the full article
Argo exploring options including sale and merger
28th April 2022
Argo has said its board of directors has begun to explore ‘strategic alternatives’ including a potential sale, merger, or other strategic transaction. The board also announced the postponement of Argo’s 2022 annual general meeting of shareholders until the second half of this year. The board believes it is in the best ... Read the full article
WTW targets organic growth despite Q1 revenue dip
28th April 2022
Re/insurance broker WTW has reported revenue of $2.16 billion for the first quarter of 2022, representing a decrease of 3% compared with the $2.23 billion it reported for the same period last year. However, on an organic basis, revenue increased by 2%, and WTW continues to target “mid-single digit” organic revenue ... Read the full article
Lloyd’s Russia exposure estimate due by late May: Carnegie-Brown
28th April 2022
Bruce Carnegie-Brown, Chairman of Lloyd’s of London, has said that the insurance and reinsurance marketplace is expected to have “a number” for its exposure to the Russia-Ukraine conflict “by the end of May.” Speaking in a recent interview with Bloomberg, Carnegie Brown explained that the impact of the conflict and its ... Read the full article
Lancashire reports gross written premiums up by >34% YOY
28th April 2022
Lancashire is reporting that its gross written premiums increased 34.7% YOY in its latest results. The firm said that they rose to $477.9m in the year following March 2021. It also said that its group renewal price index was at 106%. However, the insurer said that it estimated net losses from ... Read the full article
VIG Re reports successful year
28th April 2022
VIG Re saw its gross written premiums increase 14.2% YOY to €661m, as reported in its latest results. The firm said that profit before taxes had also risen, by 19% YOY, while its underwriting result increases 28.5% to €20.2m. In addition, it said that its total assets were up by 41% ... Read the full article
UK Gov proposes significant cut in risk margin as part of Solvency II reforms
28th April 2022
The UK Government has published its Solvency II consultation which includes a proposal to cut the risk margin for carriers, a move that would free up a lot of capital on company balance sheets. It was announced in February by the Economic Secretary that the government planned to reform Solvency ... Read the full article
Addresscloud & Ambiental Risk Analytics team up for UK flood offering
28th April 2022
Addresscloud and Ambiental Risk Analytics are teaming up to advance climate change data to the insurance market. The companies said that their joint venture would marry Ambiental’s high-resolution flood data and climate risk models within Addresscloud’s existing perils platform. Mark Varley, founder and CEO of Addresscloud, said: “I am proud to be ... Read the full article
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