Reinsurance News
Marsh adjusts senior leadership in UK and Ireland
16th March 2022
Insurance and reinsurance broker Marsh has made two changes to its UK senior leadership. According to the broker, Simon Delchar has been appointed head of placement, while Clarissa Franks has been given the role of placement leader for the risk management, corporate, and commercial businesses. Both roles are centred around the ... Read the full article
Ryan Specialty reports 15.8% growth in revenues
16th March 2022
Ryan Specialty is reporting 15.8% growth in total revenue between Q4 2020 and Q4 2021. The insurance firm said that among the other highlights were a 15.4% growth in organic revenue growth rate, down from 21.8% in Q4 2020. However, net income rose to $29.6m in Q4 2021 after a net ... Read the full article
Munich Re to utilise AI driver tech from Netradyne
16th March 2022
Munich Re America Services has announced that it plans to use Driver•i technology from Netradyne within its Smart Mobility Program to help its clients reinforce good driver behaviour. The reinsurer will add Netradyne's AI-enabled camera system to its list of approved risk solutions for commercial fleet clients. Munich Re's Smart Mobility team ... Read the full article
Australia’s Suncorp reports more than 34,000 claims from flooding
16th March 2022
Australian insurer Suncorp says it has received over 34,000 claims relating to the recent flooding in the Queensland and New South Wales areas. The firm said that four out of five claims related to home damage from the disaster, which it is now counting as four ‘separate natural hazard events’. Suncorp ... Read the full article
PPL usage robust in 2021 ahead of NextGen delivery
16th March 2022
Placing Platform Limited (PPL), the digital risk transfer platform, has reported a 17% rise in the number of risks bound in 2021 when compared with the previous year, while the number of users also increased. Risks bound jumped from 160,346 in 2020 to 187,374 in 2021, having ended 2017 at 13,067 ... Read the full article
“Capitalisation strong despite challenges in 2021” – AM Best
16th March 2022
A new report from AM Best says that US life insurance and annuity writers achieved record levels of capitalisation, maintained strong liquidity, and posted improved earnings last year, despite historically low interest rates, inflationary headwinds, and continued pandemic uncertainty. The company’s new Best’s Market Segment Report says that although initial fears ... Read the full article
Aurora partners with Pro MGA global solutions growth platform
16th March 2022
Global re/insurance advisor Pro Global Holdings has announced that UK specialist commercial insurance provider for the SME market, Aurora, is being supported in its growth ambitions by Pro’s expert independent Managing General Agent incubator subsidiary, Pro MGA Global Solutions. Based in the UK, Aurora provides business insurance for the SME sector ... Read the full article
Rokstone names Gavin Dollings as Chief Digital Underwriting Officer
16th March 2022
International speciality re/insurance MGA Rokstone, part of the Aventum Group, has appointed Gavin Dollings to Chief Digital Underwriting Officer at Rokstone, who joins from Covea where he was Commercial Underwriting Director for the past six years. He brings over 25 years in the industry, and in his last role he led ... Read the full article
Arthur J. Gallagher buys Hawley & Associates
16th March 2022
Arthur J. Gallagher has bought broker firm Hawley & Associates for an undisclosed amount. A statement from Arthur J. Gallagher said that Hawley & Associates was founded seventeen years ago to provide insurance services for adoption, foster care, and child welfare agencies. The business will continue to be run by Phil ... Read the full article
MedVida looking to pick up CNP Partners
16th March 2022
MedVida is looking to acquire CNP Partners from French company CNP Assurances. Under the proposed transaction, MedVida would work with the existing CNP Partners team in both countries to strengthen ties with its distribution partners, including financial institutions, brokers, and intermediaries, and develop its digital channel. CNP Partners is a life insurance ... Read the full article
European reinsurers enjoy better P&C results as COVID recedes
15th March 2022
Analysts at Moody’s have highlighted better overall property and casualty (P&C) results among the largest four European reinsurers, which they say are mainly a function of significantly lower COVID-19 losses than in 2020. For P&C business, new COVID-19 claims fell in 2021 as the companies introduced in their policies wording to ... Read the full article
Wrisk launches US subsidiary
15th March 2022
Wrisk has formed a new subsidiary to be known as Wrisk USA Corp, which will be based in Hartford, Connecticut. The London-based firm said the formation of Wrisk USA Corp was part of its strategy to deploy its platform across the globe for its automotive and insurer clients. According to Wrisk’s ... Read the full article
Russia enacts law to nationalise jets stranded after sanctions
15th March 2022
The Russian government has enacted a swift law to deal with the issue of the 500+ stranded jets within the country. The new law is an open rebuttal to sanctions imposed on the Russian nation due to its invasion of Ukraine. According to the Russian government, the new law will ‘ensure ... Read the full article
RMS appoints new head of model product management
15th March 2022
RMS has appointed Julie Serakos to be its new head of model product management. The modelling and solutions company said that Serakos will be responsible for global model product management across all climate, climate change, earthquake, and emerging risk models. She will also oversee global government and regulatory affairs. Cihan Biyikoglu, executive ... Read the full article
Mosaic begins cyber underwriting team in Bermuda
15th March 2022
Mosaic is putting together a cybersecurity underwriting unit to be based in Bermuda. Citing a desire to align its global business strategy around what it calls a ‘fast-growing risk’, the insurer has moved George Cole, its cyber team underwriter, there from London. Cole will be one of a host of cyber ... Read the full article
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