Reinsurance News
Optio adds David Robinson as MD
1st March 2022
Specialty MGA Optio Group has announced the appointment of David Robinson as Managing Director, effective March 1st. Based in London, he will join the group executive committee and oversee Optio’s underwriting, claims and data support functions and report to Executive Chairman Matthew Fosh. Robinson brings more than three decades of experience to ... Read the full article
CFC names Philippa Berry as Cyber Product Leader
1st March 2022
CFC has promoted Philippa Berry to the role of Cyber Product Leader, where she will contribute to CFC’s cyber underwriting strategy and oversee a variety of cyber-related special projects. She holds over 10 years of experience in the London market, much of which has been spent focused on cyber, and has ... Read the full article
James River reports $173m loss for 2021
1st March 2022
Bermuda domiciled insurance holding company, James River Group Holdings, Ltd., has reported a total loss of $173 million for 2021, after taking a $66 million loss in the fourther quarter of the year. The fourth quarter result included $115.0 million of adverse reserve development in the company's Casualty Reinsurance segment, primarily ... Read the full article
AIG targets net zero GHG emissions across underwriting & investments by 2050
1st March 2022
Global insurer and reinsurer AIG has committed to achieving net zero greenhouse gas (GHG) emissions across its underwriting and investment portfolios by 2050, or sooner. This announcement from AIG follows the carrier's commitment to achieve net zero GHG emissions by 2050, or sooner, within its own operations. The company says that it's ... Read the full article
Aon acquires Tyche actuarial software platform
1st March 2022
Aon plc has acquired actuarial software platform Tyche from technology and software firm RPC Tyche, which will provide re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business. Tyche is a specialist in developing customised ... Read the full article
Commissioner Lara sets new regulations to lower cost of insurance
1st March 2022
Insurance Commissioner Ricardo Lara has created new regulations to improve wildfire safety and drive down the cost of insurance for homeowners and businesses, which would see insurers being required to factor consumers’ and businesses’ wildfire safety actions into their pricing of residential and commercial coverage. The new regulations also will provide ... Read the full article
Martello Re completes first reinsurance transaction
1st March 2022
Recently launched Bermuda domiciled life and annuity reinsurer, Martello Re, has reportedly completed its first reinsurance transaction. The firm, which launched less than two months ago, said it had completed a transaction covering $14bn of inforce fixed annuity and fixed indexed annuity policies issued by a MassMutual subsidiary which will continue ... Read the full article
Bishopsgate appoints new head of property and casualty for Ireland
1st March 2022
Bishopsgate Insurance Brokers has appointed Sam Galbraith as head of property and casualty for the Republic of Ireland. In his new role, Galbraith will oversee the launch and growth of the company’s wholesale property and casualty business for Ireland. This will be done in conjunction with Ardonagh Specialty Europe with placement ... Read the full article
Leaders say Bermuda committed to tax standards, ahead of Annex II removal
1st March 2022
Industry leaders representing market bodies in Bermuda have maintained that the country remains committed to cooperation and compliance with global tax standards, ahead of Bermuda’s expected removal from Annex II. The European Union (EU)’s Annex II state of play document includes jurisdictions that do not yet comply with all international tax ... Read the full article
Sompo Intl. names Jon Hiller as SVP, Head of International Casualty
1st March 2022
Bermuda-based specialty P&C re/insurer Sompo International has appointed Jon Hiller as Senior Vice President, Head of International Casualty, London Market, where he will be based in London and report to Mike Reid, Executive Vice President, Head of Casualty, International Insurance. Hiller holds over 15 years of experience, gained in the Lloyd’s and ... Read the full article
SiriusPoint backed Arcadian Risk sees GWP hit $225m in first year of operations
1st March 2022
Class of 2020, Bermuda-based Managing General Agent (MGA), Arcadian Risk Capital Ltd, has reported gross written premium (GWP) of more than $225 million in its first full year of operations. The start-up, which is led by industry veteran John Boylan, launched in 2020 with Third Point Re (now SiriusPoint) as ... Read the full article
Lockton buttresses transaction liability group
1st March 2022
Lockton has appointed Annie Heiss and Alex Connelly to join its Transaction Liability group. The pair, joining in yet-undisclosed roles, will be joining several other hires over the last six months, including Isaura del Carmen, John Burkinshaw, Owen Hern, Nicholas Hill, and Craig Leonhardt. Other Lockton hires have been Craig Wadman, ... Read the full article
BMS to act as ACIN’s silver sponsor
1st March 2022
Independent re/insurance broker BMS has partnered with African Caribbean Insurance Network (ACIN), acting as a 2022 silver sponsor, whilst collaborating with them on achieving their objectives and driving their strategic vision. The ACIN was formed in 2018 and was created to help boost black and minority ethnic representation within the insurance ... Read the full article
Lloyd’s appoints special adviser to Burkhard Keese
1st March 2022
Lloyd’s has made Des Potter its special adviser to CFO and COO Burkhard Keese. Potter, in his new role, will be working on enhancing Lloyd’s capital framework and the instruments available to investors to support underwriting. Keese said: “I am delighted that Des joins us to strengthen our position as a credible ... Read the full article
Middle market labour shortage among other business challenges: Chubb
1st March 2022
According to new data from Chubb and the National Center for the Middle Market's (NCMM) 2021 Year-End Middle Market Indicator, 35% of middle market firms rank increased risks among the top three most difficult aspects of running their business in the current environment. Ben Rockwell, Division President, Chubb Middle Market explained: ... Read the full article
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