Reinsurance News
Rising rates killing digital transformation in P&C sector
8th June 2022
Rising rates have killed off the property and casualty industry’s digital transformation, according to JD Power. The firm, in releasing JD Power 2022 US Insurance Digital Experience Study, says that customer satisfaction with insurers’ digital offering has declined this year despite the investment by firms in websites and mobile apps. Robert M. ... Read the full article
Geneva Association appoints new board members, joins UN initiative
8th June 2022
Industry think tank The Geneva Association has announced the addition of four new members to its Board following a General Assembly, in addition to its decision to join the United Nations Environment Programme-Finance Initiative (UNEP-FI) Principles for Sustainable Insurance (PSI). The new Board members are: Lard Friese, CEO, Aegon; Xi LUO, ... Read the full article
Insurance Europe urges policymakers & public to collaborate to tackle protection gaps
8th June 2022
Speaking at the 12th International Insurance Conference, in Prague, Andreas Brandstetter, Insurance Europe president, urged policymakers, insurers and the public to work together to address the significant protection gaps that exist in societies and economies. Brandstetter stressed the need for policymakers to ensure that regulatory frameworks are fit for purpose and ... Read the full article
Neema partners with ASR Re to launch reinsurance product for SMEs in Africa
8th June 2022
African specialist underwriting agency, Neema Insurance Managing Agency, in collaboration with ASR Re Limited, has launched a new Political Violence Terrorism reinsurance solution. This new product is aimed at African small and medium enterprises (SMEs). ASR Re will provide Neema with the capacity to underwrite SME business on their behalf in ... Read the full article
Malawi gets $14m drought pay-out from ARC
8th June 2022
It’s been announced that drought-affected households in Malawi will receive a combined US $14.2 million of relief with an upcoming climate insurance pay-out by African Risk Capacity (ARC) Limited to the Malawian government in June. Malawi is a signatory of the ARC Treaty established by African Risk Capacity, a specialised agency ... Read the full article
DARAG promotes Roth to Global Head of M&A
8th June 2022
DARAG has appointed Alexander Roth to Global Head of Mergers & Acquisitions (M&A), in addition to his existing role as Chief Executive Officer (CEO) of DARAG Europe. Since joining the company in 2016, Roth has held a number of senior positions, including CEO of DARAG Europe, which he was named in ... Read the full article
Newline appoints Andrew Pecover to take over from William Beveridge as CUO
8th June 2022
Newline has appointed Andrew Pecover as its new Chief Underwriting Officer (CUO). The firm said that Pecover will be responsible for the underwriting operations for Newline Syndicate 1218 and Newline Insurance Company Limited across all lines of business. It added that Pecover will be based in London and will report directly to ... Read the full article
HCI renews reinsurance agreement with United
8th June 2022
Florida-based insurtech HCI Group has announced the renewal of its quota share reinsurance agreement with United Property & Casualty Insurance Company. The new agreement, effective June 1st, 2022, extends the previous agreement between the two companies that expired as of May 31st. As part of the transition of policies from United, HCI ... Read the full article
“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
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