Reinsurance News
Acrisure acquires Summa Insurance Brokerage
7th March 2022
Global insurance broker and fintech platform Acrisure has acquired Summa Insurance Brokerage, making it Acrisure’s first expansion into the Spanish market, bringing the number of countries in which the company has a physical presence to ten. This follows Acrisure’s recent partnership with Brazilian firm It’sSeg and adds another major European ... Read the full article
Russia’s invasion of Ukraine weighs on 2022 outlook: DBRS Morningstar
7th March 2022
Due to a combination of strong underwriting profitability and positive investment income, the P&C sector resulted in a very successful year, according to DBRS Morningstar, which also reported that reinsurance companies performed significantly better compared to 2020, despite higher catastrophe losses. However, the Russia-Ukraine conflict, climate-related losses, and legacy COVID issues ... Read the full article
Miller appoints new account executive
7th March 2022
Reinsurance broker Miller has appointed James Martin to be an account executive in its sports and entertainment team, beginning on 4 April. Martin is joining Miller from James Hallam where he was divisional director of the sport team, responsible for London Market placement and insurer relationships. He will work closely with Tim ... Read the full article
Australian flood claims rise again to $1.3bn
7th March 2022
Insurers have received over 86,000 claims related to the floods in south-east Queensland and New South Wales, says the Insurance Council of Australia (ICA). The ICA says that most claims (72%) comes from Queensland, and that 83% of the total claims are for domestic property, with the remainder being motor vehicle. The ... Read the full article
Prudential optimistic for the future as PRT market gains momentum: Rohit Mathur
7th March 2022
After a very strong 2021 that saw Prudential Retirement Strategies close a good mix of pension risk transfer (PRT) deals across various structures, Rohit Mathur, Head of International Reinsurance, told Reinsurance News that the future looks bright. Activity in the UK PRT market was very robust last year with buy-in and ... Read the full article
One80 Intermediaries appoints new practice leaders
7th March 2022
One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, has announced its new organizational structure establishing industry practice leaders within the One80 executive team. This extends to strategic areas such as financial lines, workers’ compensation, transportation, property, and personal lines. The industry practice leaders will be responsible for the development, delivery, ... Read the full article
Optio Groups appoints new senior underwriter for warranty and indemnity
7th March 2022
Optio Group has hired Paul Tominey to be its new senior underwriter for warranty and indemnity. The specialty MGA firm said that in tandem with Tominey’s hiring that it was increasing its W&I line size for single risks from £12m to £20.5m. The company said that both developments will strengthen its W&I ... Read the full article
Resolution Life to acquire AIA Australia’s Superannuation & Investments business
7th March 2022
Resolution Life Australasia (Resolution Life) has entered an agreement with AIA Australia to acquire its Superannuation & Investments business, which will add significant value and scale benefits to the company. It will increase Resolution Life’s funds under management and administration by over AUSD$8 billion and result in 162,000 AIA Australia customers ... Read the full article
BOXX Insurance appoints Phil Baker to two new roles
7th March 2022
BOXX Insurance has appointed Phil Baker to not only be the president of BOXX Canada, but to also become the company’s global head of insurance. The announcement from the Toronto-based company says that Baker was until recently board chairman and head of broker relations at Beazley Canada. Vishal Kundi, CEO and co-founder ... Read the full article
Top insurers called to end trade with Russian companies
4th March 2022
In response to Russia’s invasion of Ukraine, a coalition of NGOs and groups around the world are calling on financial institutions most exposed to Russian oil, gas, and coal to cease all ties with these companies. More than 75 organisations have written to insurers, which include AIG, Allianz, Atradius Re, AXA, ... Read the full article
Duck Creek and CoreLogic expand partnership
4th March 2022
P&C insurance software provider, Duck Creek Technologies has expanded its collaboration with CoreLogic, a provider of property intelligence solutions, to help connect critical touchpoints for an improved underwriting experience. The growing relationship enables customers to obtain a deeper level of business intelligence, one where decisions can be made in real-time. Duck Creek ... Read the full article
AXA XL makes three promotions to zonal manager in the US
4th March 2022
AXA XL has promoted three people to newly created zonal manager roles within its design professional insurance business. The insurer says that the move will help it align its underwriting teams more closely within its US regional operating model. The promotions include the appointments of Bob McLucas to east zone manager, ... Read the full article
Zurich enters partnership with Celonis
4th March 2022
Execution management company and creator of process mining Celonis and Zurich Insurance (Zurich), have collaborated to accelerate Zurich’s journey to become more data-driven as a business, whilst also working with the company to set up a dedicated Center of Excellence (CoE). The CoE will create value across all business processes including ... Read the full article
Verisk expands Canadian footprint with Opta acquisition
4th March 2022
Data analytics provider Verisk has acquired Opta, a Canadian provider of property intelligence and technology solutions, to further expand Verisk’s footprint in the Canadian market. The acquisition has enabled Verisk to adopt Opta’s technology and commitment to innovation, which will further fuel efforts to help customers improve operational efficiencies by delivering ... Read the full article
Munich Re’s HSB appoints Touahri to senior finance role
4th March 2022
Munich Re-owned specialty insurer HSB has announced the appointment of Amin Touahri to its finance team as Head of Financial Solutions. Touahri has worked for Munich Re since April 2017, having originally joined the reinsurer as a Casualty Treaty Underwriter. Most recently, he worked with Munich Re in Paris as Origination Lead ... Read the full article
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