Reinsurance News
“Insurance Capital Standard could augment the analysis of insurers’ capital” – Fitch
8th June 2022
Fitch Ratings says that the Insurance Capital Standard (ICS) could augment the analysis of insurers’ capital by serving as a comparator benchmark across geographies. The standard, due to be implemented globally by 2025, aims to provide a globally comparable risk-based measure of the capital adequacy of Internationally Active Insurance Groups (IAIGs). ... Read the full article
Ascot appoints Chiolan as EVP, Management & Professional Liability
8th June 2022
Specialty re/insurer Ascot has appointed Brian Chiolan in the newly created position - Executive Vice President, Management & Professional Liability. He will report directly to Matt Kramer, CEO, US Insurance. Within this new role, Chiolan will have oversight responsibility for the re/insurer’s US Management Liability, Financial Institutions, Professional Liability & Cyber portfolios ... Read the full article
CoreLogic announces collaboration with Hiscox London Market
8th June 2022
Leading global property data and analytics-driven solutions provider, CoreLogic, has announced that Hiscox London Market has adopted its PxPoint technology to better understand property risk and enhance underwriting accuracy. Delivered through the RiskMeter platform, the solution uses advanced geocoding technology to provide detailed information from precise location to structure, to assess ... Read the full article
Verisk releases new web-based weather mapping and analytics platform
8th June 2022
Verisk has expanded its weather intelligence with the release of its new mapping and analytics platform. It’s newly enhanced web-based weather analytics data solution, Respond MAP, enables users to combine valuable weather data with locations of interest, such as policies-in-force, to quickly evaluate the impact of significant weather events. The solution also ... Read the full article
Duck Creek Technologies providing cloud-based SaaS solution in Microsoft Azure Marketplace
8th June 2022
Duck Creek Technologies, a provider of SaaS-delivered software to the property and casualty (P&C) arena, has announced the availability of its cloud-based software-as-a-service (SaaS) solution - Duck Creek OnDemand, in the Microsoft Azure Marketplace. In a press release, Duck Creek Technologies stated that P&C insurance carrier with an existing Microsoft Azure ... Read the full article
iprism Underwriting adds AmTrust to property owners panel
8th June 2022
MGA firm iprism Underwriting has added AmTrust to its property owners panel. According to the company, the new relationship allows iprism to offer brokers a greater choice of rated insurers, competitive pricing and a wider underwriting footprint for occupant types. It is also enhanced with a new approach to address mapping. Ian ... Read the full article
Munich Re’s Till Böhmer named CEO at ThaiSri
7th June 2022
Munich Re executive Till Böhmer has been appointed as Chief Executive Officer (CEO) of ThaiSri Insurance, the Thai subsidiary of ERGO, Munich Re’s primary insurance arm. Based in Bangkok, Böhmer will take over management of the Thai business from outgoing CEO Karan Chopra. The operations of ThaiSri span more than 133 branches ... Read the full article
Marsh McLennan Agency acquires independent agency Clark Insurance
7th June 2022
Marsh McLennan Agency (MMA), the US middle market subsidiary of global insurance broker Marsh, has announced the acquisition of Maine-based Clark Insurance, a leading independent agency. Founded in 1913, Clark Insurance, led by president Jeff Shaw, provides business insurance, employee health and benefits, and private client services to businesses and individuals ... Read the full article
C2S partners with Munich Re & Raincoat on parametric flood product
7th June 2022
Climate adaption technology company, Cloud to Street (C2S), has announced a partnership with Munich Re Group and parametric insurance platform, Raincoat, to roll out an at-scale parametric insurance program. Powered by C2S’ industry-leading flood intelligence, the parties say the collaboration marks the first major success of a flood parametric program created ... Read the full article
One80 grows emergency services capabilities with VFIS of North Carolina takeover
7th June 2022
Specialty insurance broker, One80 has entered into an agreement to acquire VFIS of North Carolina – an independent producer and Regional Director for VFIS. Terms of the deal were not disclosed. VFIS, formerly known as Volunteer Firemen’s Insurance Services is a wholly owned division of Glatfelter Insurance Group, a leading Managing General ... Read the full article
WTW announces new hires in M&A & Life Sciences teams in North America
7th June 2022
Leading global advisory, broking and solutions company, WTW, has announced new hires in its Mergers and Acquisitions (M&A) and Life Sciences teams in North America. The first appointment is Stephen J. Feick, who joins WTW as Deputy Director of Life Sciences, North America. Feick has more than twenty years of experience within ... Read the full article
AXIS Re takes new steps in multi-year plan, replaces CEO with Ann Haugh
7th June 2022
Bermuda-based reinsurer AXIS Re has announced that it is to shift its focus to becoming a specialist reinsurer with a commitment to casualty, specialty, A&H, and credit lines. The firm also announced that Steve Arora, current CEO, is to leave and be succeeded by Ann Haugh. The current moves form part ... Read the full article
Heritage ups reinsurance spend at renewal
7th June 2022
Heritage Insurance Holdings, Inc., a super-regional property and casualty insurance holding company, has announced details of its 2022-2023 catastrophe reinsurance program. The total cost of program is $359.5 million, accounting for 31% of March 31, 2022, premiums-in-force, which is three points higher than the prior year cost. The coverage applies to Heritages ... Read the full article
Acrisure Re warns of above average hurricane activity
7th June 2022
Acrisure Re, the reinsurance division of broker and fintech platform Acrisure, has forecast an above average hurricane season this year, albeit with less activity than the record 2020 and 2021 seasons. Recent heightened hurricane activity is at least partly attributed to the current warm phase of Atlantic Multidecadal Oscillation (AMO) which ... Read the full article
Chubb promotes Jim Shevlin to Division President of ESIS
7th June 2022
Global re/insurer Chubb has appointed Jim Shevlin as Division President of ESIS, reporting to Matt Merna, Senior Vice President, Chubb Group and Division President, North America Major Accounts. He succeeds Leigh Anne Sherman, who has been appointed Specialty Officer for Chubb’s Middle Market Commercial Insurance business unit in North America. Within his new ... Read the full article
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