Reinsurance News
Helios reports huge increase in capacity in 2022
23rd May 2022
Helios has increased its retained capacity in 2022 to £171.9m, up from £66.5m and £93.5m in 2020 and 2021. According to a statement from the firm, its reinsured capacity also rose significantly in this time, increased from £49.1m in 2020, to £51.5m in 2021, and to £60.8m this year. Nigel Hanbury, chief ... Read the full article
BMS names WTW’s Ted Hodgkinson as Executive Chairman, Asia
23rd May 2022
Ted Hodgkinson has joined insurance and reinsurance broker BMS from WTW as its new Executive Chairman for Asia, where he will play a key part in bolstering the company's geographic reach within the region and promote a collaborative and client-centred approach. Hodgkinson joins BMS in late November 2022 after more than ... Read the full article
HCI announces $150m debt offering
23rd May 2022
Florida-based insurtech HCI Group has announced a new debt offering of $150 million convertible senior notes due 2042, the proceeds of which will be used for a share repurchase, as well as for general corporate purposes. The 4.75% convertible senior notes will be offered in a private placement to qualified institutional ... Read the full article
“Demand for untapped minerals could fuel geopolitical tensions” – Marsh
23rd May 2022
A new report from Marsh says that rising competition for untapped mineral resources could fuel geopolitical tensions. The firm, in its 2022 Political Risk Report, says that while land borders between countries remain key delineators of political risk, competition for ocean territory, minerals, and space will increasingly influence interstate relations. Marsh said ... Read the full article
Guy Carpenter promotes Petka & Underwood within GC Access
23rd May 2022
Reinsurance broker Guy Carpenter has named Matt Petka as President of GC Access North America and Branch Manager of the firm's Dallas office, as Riley Underwood takes over as Head of Client Solutions for GC Access, effective immediately. Guy Carpenter launched its GC Access unit in 2020 to provide dedicated ... Read the full article
Climate, victim impact and systemic risk flagged as key terror issues
23rd May 2022
Climate change, victim impact, and systemic risk were among key issues raised at the virtual conference ReCODE. The conference, hosted by the International Forum of Terrorism risk (Re)Insurance Pools (IFTRIP), looked at the key current issues in terrorism insurance. According to IFTRIP, the links between climate change and terrorism were a key ... Read the full article
Tokio Marine HCC lines up with Vertafore
23rd May 2022
Tokio Marine HCC is to partner with Vertafore to help streamline how agents and brokers transact surety bond business online. The partnership between Tokio Marine HCC – Surety Group and Vertafore’s agency management system, AMS360, developed technology that eliminates the need for agents and brokers to re-key data into their own ... Read the full article
Catalina Holdings creates new pan-global team
23rd May 2022
Catalina Holdings has created a new team focused on global origination across UK/Europe, North America, Bermuda, and Asia Pacific. The new team will be led by Steve Ryland, group head of global distribution for Catalina, who will focus on UK and European markets. Parri Spector will focus on North America and ... Read the full article
R&Q fails to get sufficient shareholder votes for acquisition at first attempt
20th May 2022
Shareholder voting on the proposed takeover of Randall & Quilter Investment Holdings Ltd (R&Q), the non-life global specialty insurance company focused on program management and legacy transactions, in a deal backed by investment group 777 Partners, has been adjourned as the company seeks to gain additional support for the deal. Today, ... Read the full article
JP Morgan says insurance fallout from Russia-Ukraine not seismic
20th May 2022
JP Morgan has posited that re/insurance industry estimates arising from Ukraine’s invasion by Russia will fall as more information emerges. The viewpoint is put across in the firm’s latest Love Actuary, which focuses on the conflict in Europe. JP Morgan wrote: “Whilst Q1 only showed part of the picture on claims, we ... Read the full article
Fannie Mae completes fifth credit insurance risk transfer of year
20th May 2022
Fannie Mae has executed its fifth credit insurance risk transfer (CIRT) of 2022. The bank said that the transfer was part of its ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market, CIRT 2022-5 transferred $733.3m of mortgage credit risk to private insurers ... Read the full article
Optio Group’s Cove Programs hires Tom Godsey as SDI claims Director
20th May 2022
Specialty managing general agent (MGA) Optio Group, has announced the appointment of Tom Godsey who joins Cove Programs, an Optio company, as claims director for its subcontractor default insurance (SDI) practice. Based in Tennessee, Godsey will report to both Nathan Espe, head of SDI, and Nick Woodward, head of claims, and ... Read the full article
Parametrix & IMA partner on cloud downtime insurance
20th May 2022
Parametrix Insurance, a provider of parametric cloud downtime insurance, and IMA Financial Group (IMA), a North American insurance brokerage firm, have announced that they have entered into a partnership to help more companies protect themselves and their customers against losses from cloud downtime. The partnership will allow IMA to make Parametric ... Read the full article
Acrisure names new EVP, Head of Insurance Strategy & Execution
20th May 2022
Global insurance broker and fintech platform, Acrisure has announced that it has appointed Matthew Kirk as Executive Vice President and Head of Insurance Strategy and Execution. Kirk joins Acrisure following 16 years at US property & casualty insurer, The Hartford, where he served as Senior Vice President, Chief Sales & Distribution ... Read the full article
Vantage appoints Gabriel Poppie to new VP role
20th May 2022
Vantage has appointed Gabriel Poppie as its new vice president for marketing and distribution in the central region executive. The Chicago-based Poppie is coming over from Sompo International where he served as vice president of business development, US insurance. Prior to joining Sompo, he spent over five years at Swiss Re ... Read the full article
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