Reinsurance News
What could hard market pricing mean for insurtechs seeking reinsurers?
13th June 2022
There are concerns over how the access of some insurtech firms to reinsurance may be impacted by hard market pricing. According to analysts, price adequacy and underwriting results may be affected by access to reinsurance capital. An analyst at Goldman Sachs, who recently had discussions with insurtech companies at a recent conference, ... Read the full article
Pen Underwriting appoints Dan Hydleman as specialist tech underwriter
13th June 2022
Pen Underwriting has appointed Dan Hydleman as a specialist technology underwriter. The company said that Hydleman will be based in its Leeds office and will report into Tom Dixon, head of technology. He joins from Hiscox where he has been an underwriter specialising in technology since 2019. Dixon said: “Dan is ... Read the full article
R&Q takes $21m operating loss for 2021
13th June 2022
Randall & Quilter Investment Holdings Ltd (R&Q) has reported a loss before tax of $162.0 million for 2021, including a pre-tax operating loss of $21.0 million. The non-life global specialty insurance company recorded an operating profit of $20.6 million in its program management business, but this was offset by an operating ... Read the full article
S&P Global Ratings revises Toa Re & two subsidiaries outlooks to negative
13th June 2022
S&P Global Ratings has announced that it has revised to negative from stable, its outlook on the financial strength rating and long-term issuer credit rating of Toa Reinsurance Co. The ratings agency also said that it took the same outlook actions on two overseas subsidiaries – US-based Toa Reinsurance Co. of ... Read the full article
Marsh appoints Andrew Fiscella and John Umbach as SPAC co-leaders
13th June 2022
Marsh has appointed Andrew Fiscella and John Umbach as SPAC co-leaders within its US financial and professional liability practice, effective immediately. In this dual leadership role, Fiscella and Umbach will be responsible for leading a team of risk specialists in helping SPAC clients identify risks, customise programs, and secure directors and ... Read the full article
Asia Capital Re appoints Wei-Lyn Loh as new CEO
13th June 2022
Wei-Lyn Loh is to become the new CEO of Singapore-based reinsurance company Asia Capital Re. Making the announcement on LinkedIn, Loh said she was happy to share that she was beginning the new role. Her profile states that she has been with Asia Capital Re for over seven years, joining as head ... Read the full article
Insurance making ‘significant’ progress in setting Net Zero targets
13th June 2022
The Association of British Insurers (ABI) has said that the general insurance and long-term savings industry is making significant progress in setting transparent Net Zero targets and joining the UN’s ‘Race To Zero’ campaign. The industry body said, through its Climate Change Roadmap, that among the market share represented by ABI ... Read the full article
Apollo Group names Stuart Davies as non-exec director
13th June 2022
Apollo Group had announced the appointment of Stuart Davies as group non-executive Director. His appointment is effective immediately. With more than 30 years of experience within financial services, Davies has served in various senior insurance industry roles throughout his career, including Chairman of DARAG Group, Chief Executive Officer (CEO) at global specialty ... Read the full article
New filters added to the 2022 FM Global Resilience Index
13th June 2022
The 2022 FM Global Resilience Index has been released and updated with 15 economic, risk quality, and supply chain measures that offer insights into the vulnerabilities of a country’s business environment and its resilience. The interactive web tool has been enhanced with climate risks and environmental, social and governance (ESG) filters ... Read the full article
MGAA appoints Tim Richards to new role
13th June 2022
The Managing General Agents’ Association (MGAA) has appointed Tim Richards to the new role of technical services manager. As part of the firm’s wider growth and development strategy, Richards will report directly to CEO Mike Keating and will be responsible for supporting plans to extend its influence in the market by ... Read the full article
Global Atlantic Financial Group announces second reinsurance deal in Asia
13th June 2022
Leading financials services company, Global Atlantic Financial Group, has announced its second reinsurance transaction in Asia, signing an asset-intensive flow reinsurance transaction with a leading Singapore-based insurer. The deal was executed through the company’s Bermuda-based subsidiary – Global Atlantic Assurance Limited. This deal also follows Global Atlantic’s $4.8 billion whole life ... Read the full article
AM Best names Andrew Power Non-Exec Director to Boards of EMEA region
13th June 2022
Rating agency AM Best has appointed Andrew Power as an independent Non-Executive Director to the Boards of the business across the Europe, Middle East and Africa (EMEA) region. With over 25 years of experience in the insurance and financial services sector, Power will oversee the agency’s EMEA region subsidiaries, A.M. Best ... Read the full article
Keystone Agency Partners announces partnership with Keyes Coverage
13th June 2022
Insurance brokerage platform, Keystone Agency Partners (KAP) has formed a strategic partnership with Keyes Coverage – an independent insurance agency serving both the personal and commercial insurances needs of customers within Florida. Financial terms of the majority stake transaction were not disclosed. Based in Tamarac, Florida, Keyes has been serving the greater ... Read the full article
Reinsurers need to rebuild confidence: Ariel Re CEO
10th June 2022
Ariel Re CEO Ryan Mather has asserted that the reinsurance industry needs to work to rebuild confidence in the sector, following a period of challenging conditions and inadequate returns. Speaking in an interview with Reinsurance News, Mather discussed the thinking behind Ariel Re’s "front foot" approach to catastrophe risk and the ... Read the full article
Florida Citizens set to go through hurricane season under-reinsured
10th June 2022
Florida’s Citizens Property Insurance Corporation is looking set to go through the 2022 hurricane season with less reinsurance protection in place than it would have liked, as sources report that only 36% of its risk transfer program is filled currently. The state property insurer of last resort has only managed to ... Read the full article
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