Reinsurance News
Howden acquires TigerRisk, creating “much-needed” fourth global reinsurance broker
9th June 2022
Howden Group Holdings is set to enhance the scale and depth of its reinsurance and capital markets offering with the acquisition of broker, TigerRisk Partners. The deal, which remains subject to regulatory approvals, represents almost $400 million of combined reinsurance revenues and provides clients with access to 450 experts across over ... Read the full article
Munich Re’s HSB Canada announces new commercial service line coverage
9th June 2022
Munich Re’s HSB Canada has announced the introduction of Commercial Service Line – a new coverage that will bridge a potentially costly gap, so that building owners can minimize losses resulting from service line breakdowns. HSB’s Commercial Service Line will be available to partner insurers, and also offer comprehensive coverage for ... Read the full article
Ping An increases its green investment targets
9th June 2022
Ping An Insurance (Group) Company of China, Ltd. aims to achieve overall targets with green investment and credit of RMB400 billion by 2025. As of 31 December 2021, the Group's green investment and financing was nearly RMB224.58 billion. In total, its overall responsible investment and financing was nearly RMB1.22 trillion, including ... Read the full article
Reinsurers to absorb bulk of $2bn+ Ever Given claims, says SCOR
9th June 2022
A majority share of more than $2 billion in claims is the potential sum reinsurers will absorb from the losses caused by the blocking of the Suez Canal because of the lodging of the Ever Given, according to global reinsurer SCOR. Last year, the ultra-large container ship blocked the largest man-made ... Read the full article
Overall resilience to big shocks ‘significant’ for 35 carriers, says Litmus
9th June 2022
The credit profiles of 35 leading reinsurance carriers show significant overall resilience to major reserve shocks, but with some very big individual variances, according to Litmus. The firm said its research suggests a significant overall resilience to major reserve stresses across 351 leading non-life reinsurance carriers. However, the individual reinsurer results ... Read the full article
Akur8 & MS&AD Insurance Group enter into strategic partnership
9th June 2022
AI-driven pricing insurance company, Akur8 and leading global insurance organization, MS&AD Insurance Group, have announced a new strategic partnership to foster further innovation. With the announcement of this deal, Akur8 continues to expand in Asia and beyond, hand-in-hand with a leading global insurer. In a press release, it notes that the partnership ... Read the full article
Markel Intl. appoints Bryan Dressler Head to senior W&I role
9th June 2022
Markel International has announced that it has appointed Bryan Dressler as Head of warranty and indemnity (W&I) for its professional and financial risk (PFR) division. He will be based at Markel’s London officer and will report to David Sawyer, divisional managing director of PFR at Markel International. Within his new role, Dressler will be ... Read the full article
Aon expands MasterTrust team
9th June 2022
Re/insurance broker Aon has made three new appointments to support growth in its master trust and related defined contribution (DC) solutions. Hâf Lloyd-Birchall joins as a senior client manager, having previously worked as a DC consultant at PwC, where she supported a range of companies on governance, communications, and scheme strategy ... Read the full article
wefox appoints Hanna Jacobsson to Board
9th June 2022
wefox, a Berlin-based full-stack digital insurance company has appointed Hanna Jacobsson to the Board. The company has stated that Jacobsson will serve as a Non-Executive Director with immediate effect. An actuary by profession, Jacobsson started out her career specialising in finance and held roles such as Vice Chief Financial Officer (CFO) at ... Read the full article
ICA adds Swiss Re’s Sharon Ooi to Board
9th June 2022
The Board of the Insurance Council of Australia (ICA) has announced that Sharon Ooi has been appointed as a Non-Executive Director of the ICA Board. Ooi is Managing Director, Head of Australia and New Zealand, for Swiss Re, and a member of the Australian Financial Services Council (FSC) Life Board Committee. She ... Read the full article
SiriusPoint appoints Bobby Heerasing to new role as UK country branch manager
9th June 2022
SiriusPoint has appointed Bobby Heerasing as UK country branch manager. The moves follows the link-up between the firm and Mosaic, which was first announced in March. Following, and subject to the close of the transaction as well as Lloyd’s and regulatory approvals, Robert Harman, CEO of SiriusPoint London and managing director ... Read the full article
PERILS revises industry loss estimate for Eastern Australia flooding
9th June 2022
PERILS says that its industry loss estimate for the Eastern Australia floods earlier this year now stands at AUD $4,895m. It said that in line with its event definition, the loss number covers the property and motor hull lines of business. Earlier estimates of the cost had placed it at ... Read the full article
Liberty GTS names Regional Manager for Asia Pacific
9th June 2022
Liberty Global Transaction Solutions has announced the appointment of Geoffrey Lee as the Liberty GTS Regional Manager, Asia Pacific (APAC). In this role, Lee will continue to report to William Lewis, Head of Asia Pacific for Liberty GTS. Lee is a qualified solicitor specializing in corporate M&A, having previously established his legal ... Read the full article
Nat cat pricing momentum should last 2+ years: Swiss Re CUO
9th June 2022
Thierry Léger, Chief Underwriting Officer (CUO) of Swiss Re, has said that price momentum in natural catastrophe reinsurance lines should last for at least another 1-2 years at today's rate and potentially for longer. Speaking at the Goldman Sachs European Financials Conference in Rome earlier this week, Léger explained that Swiss ... Read the full article
Euro inflation pressure broadening out, core CPI rises to new multi-decade high: Swiss Re Institute
9th June 2022
A new report from Swiss Re Institute states that Euro area inflation pressure is broadening out and becoming “stickier”, as core Consumer Price Index (CPI) rises to a new multi-decade high. The current inflation surge is also increasing claims severity for European property and casualty (P&C) insurers, particularly in property and ... Read the full article
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