Reinsurance News
MS Amlin Underwriting commits to net-zero by 2050
23rd March 2022
MS Amlin Underwriting Limited (MS AUL) has announced its next stage in its journey towards carbon neutrality, as the board confirmed the business will achieve net-zero by 2050, for all of its operations. This would include Scope 1, 2 and 3 emissions, and apply across all investments and underwriting operations. The board ... Read the full article
TWIA eyes larger $2.04bn reinsurance program at renewal
23rd March 2022
The Texas Windstorm Insurance Association (TWIA) has revealed that it will seek a $2.04 billion reinsurance program for the 2022 hurricane season at upcoming renewals. During a meeting yesterday, TWIA’s board voted to adopt a multi-model view of risk for the coming year, which includes a larger program of reinsurance coverage ... Read the full article
Root adds new CFO
23rd March 2022
Insurance firm Root has added Rob Bateman to its roster as its new CFO. Bateman will join the firm on 11 April, leaving his present position as president and CFO of Ategrity Specialty Insurance Company. Alex Timm, CEO and co-founder of Root, said: “I’m thrilled to announce that Rob Bateman is joining ... Read the full article
HDI makes three appointments
23rd March 2022
HDI has buttressed its regional and Irish teams through a series of appointments. This new announcement is the latest in a long line of recent hires by the company, which has appointed a new manager for its French branch, a new head of sales and distribution in the US, ... Read the full article
Ioannou to become CEO of American P&I Club
23rd March 2022
The American P&I Club has announced that CEO of Shipowners Claims Bureau, Inc. (SCB), Joe Hughes will be standing down from the role on August 1 2022, after 27 years of service, to be replaced by Dorothea Ioannou, who will become the first woman to ascend to the top executive ... Read the full article
Arch Insurance appoints new senior underwriter
23rd March 2022
Arch Insurance has appointed Linda Daly as senior underwriter for executive assurance. Daly will join the company’s commercial D&O division, led by Michael Chu, head of executive assurance. The team provides specialised insurance products across a range of market segments, including D&O, employment practices liability and pension trust liability, focusing on ... Read the full article
No adjustment to IAG’s provision for business interruption losses
23rd March 2022
Australian insurer IAG has said that at this time, there will be no adjustments to its $1.222 billion net provision for potential business interruption claims related to the COVID-19 pandemic. As we reported yesterday, numerous insurers and reinsurers are seeking to contest the verdict of Australia’s pandemic test case and ... Read the full article
Over half of insurers report increased ESG pressure
23rd March 2022
55% of insurers have reported in a study that they are seeing increased pressure to focus on ESG matters from stakeholders, according to law firm DWF. The company’s survey of 480 senior executives in 13 countries is said to show that 28% of the insurance executives felt that the ESG performance ... Read the full article
Holborn Corp reshuffles executive positions
23rd March 2022
Independent reinsurance broker, Holborn Corporation (Holborn), has made a number of executive promotions within the ranks of its senior Brokers and Analytical Services unit. The promotions were first announced at Holborn's recent employee-owned shareholders' meeting in recognition of their professional accomplishments, and to reflect the elevated level of responsibilities that Holborn ... Read the full article
Amwins Special Risk Underwriters partners with Obsidian
23rd March 2022
Amwins Special Risk Underwriters (SRU) has partnered with Obsidian, a hybrid fronting program carrier, which delivers primary commercial auto solutions for established fleets, marking SRU's expansion beyond the property and management liability products, focusing on underserved mid-fleet trucking accounts. SRU has built a business on providing quality underwriting programs exclusively for ... Read the full article
Transverse adds new head of business development
23rd March 2022
Transverse has appointed Paul Goodwin to be its head of business development, while confirming it has attained Class VIII size category. Goodwin is joining the firm from Partner Re where he served as head of Americas broker relations and senior VP for global clients. He previously spent most of his career ... Read the full article
Miller appoints new account executive
23rd March 2022
Re/insurance broker Miller has added Sam Pye to its solicitors professional indemnity (PI) team as an account executive. Pye will report to Zarina Lawley, head of solicitors PI, in her new role, which began on 21 March. She joins from Lockton Professions. Over the course of her career, Pye has specialised ... Read the full article
US citizens face worsening economic distress: Swiss Re
22nd March 2022
Analysts at Swiss Re expect economic distress to remain elevated for average US citizens over the next year, with increases a real threat as the likelihood of stagflation and recession has substantially risen. In the US, Swiss Re notes that the misery index is now in the highest 20% of readings ... Read the full article
QBE North America adds another to its board
22nd March 2022
QBE North America has appointed Kristen Dauphinais as a Non-Executive Director of the QBE North America Board. The company said that Dauphinais will serve on the people and remuneration, audit, risk & capital, and investment and nominations committees. She will help guide the North America operations with a special focus on ... Read the full article
Zurich NA names Tobias Cushing as Head of Construction Casualty
22nd March 2022
Zurich North America has appointed Tobias Cushing as Head of Construction Casualty for U.S. National Accounts, which serves large corporate and captive customers. Cushing joins from The Hartford, where he most recently was Head of Construction for Middle & Large Commercial and will report to Head of Construction, Kelly Kinzer. In his ... Read the full article
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