Reinsurance News
CCR Re joins UN Principles for Responsible Investment
8th February 2022
French state-owned reinsurer CCR Re has emphasised its commitment to responsible and sustainable finance by joining the Principles for Responsible Investment (PRI) as defined and supported by the United Nations (UN). The reinsurer provides cover for natural catastrophe risks, and as such, has been integrating extra-financial criteria relating to environmental impact, ... Read the full article
kWh Analytics raises $20mn for ESG insurance
8th February 2022
kWh Analytics has raised $20 million in a funding round, reflecting the company’s focus on Environmental, Social, and Governance (ESG) issues within the insurance industry. While many insurance companies are addressing ESG by steering away from fossil fuels, kWh Analytics has instead developed data-driven insurance specifically for zero-carbon assets. With the new ... Read the full article
Suncorp positive despite significant falls in net profit and earnings in H2 2021
8th February 2022
Australia’s Suncorp has reported that its net profit after tax and cash earnings for H2 2021 were down significantly, compared to those in the prior corresponding period. Despite the significant falls of 20.8% and 29.1%, the organisation said that this remained ‘a compelling result’. Christine McLoughlin, chair of Suncorp, said in a ... Read the full article
Pension risk transfer market set to accelerate after record H2: L&G
8th February 2022
Analysts at Legal & General are expecting momentum in the global pension risk transfer (PRT) market to continue into 2022, following another strong half-year period for the sector, particularly in the US where potential transaction volume records were set. L&G’s Global PRT Monitor reported a strong second half of 2021 for ... Read the full article
Tokio Marine invests in ICEYE as pair embark on commercial collaboration
8th February 2022
Japan's Tokio Marine Holdings has made a strategic investment in ICEYE, a provider of satellite data and services to inform decision-making and analysis, as part of the latter's wider Series D funding round. The recent funding round saw ICEYE raise $136 million in order to expand its natural catastrophes solutions, ... Read the full article
David Rocke to lead RiverStone International’s Bermuda office as MD
8th February 2022
Legacy reinsurance and run-off specialist, RiverStone International, has announced the appointment of David Rocke as Managing Director (MD) of its new Bermuda office. Effective February 1st, 2022, Rocke joined RiverStone International in Bermuda from his most recent role as Executive Vice President of M&A at Enstar. He's been based in Bermuda since ... Read the full article
Twelve Capital predicts positive trends for 2022
8th February 2022
Twelve Capital has said it believes the sector will benefit from a number of factors in 2022, including higher interest rates, improved pricing, and an increased ESG focus. In a note to investors, the firm said that it sees attractive opportunities in insurance fixed income due to credit spreads being higher ... Read the full article
SCOR grows P&C premiums by 19% at ‘complex’ Jan reinsurance renewals
8th February 2022
French reinsurer SCOR has reported premium growth of 19% and an overall average price increase of +4.9% in P&C reinsurance at a "complex" and "prolonged" January 1st, 2022 renewals. SCOR notes that 1/1 "evidence the continuing hardening of the P&C treaty reinsurance market," driven by heightened losses from natural catastrophes, attritional ... Read the full article
Beazley adds Katie Hunter to Open Market Property team
8th February 2022
Specialist insurer Beazley has appointed Katie Hunter as Underwriter for the company’s Open Market Property division, where she will be based in the Bishopsgate office. Hunter is a seasoned property underwriter, bringing over 20 years' experience in the London Market to her new role. She started her career at re/insurer Brit before ... Read the full article
Genpact & Claims Genius partner on auto claims management
8th February 2022
Global professional services firm Genpact has announced that its Claims Manager platform is now integrated with Claim Genius, the AI-based claims solution for auto insurance. Genpact notes that insurers' claim operations typically involve manual processes and legacy systems, and lack integration across carriers and vendors. The company’s Claims Manager, powered by Genpact ... Read the full article
One80 acquires Innovative Risk Management
8th February 2022
One80 has acquired another company, its second in only a few weeks. A statement today from the Boston-based firm announced that it had picked up Innovative Risk Management, a program manager that providers agents, brokers, and self-insured entities with captive and alternative risk solutions. It follows the company’s purchase of Pearl ... Read the full article
Hannover Re’s aggregate XoL retro cover shrinks by almost 50% at Jan renewal
7th February 2022
For 2022, the size of Hannover Re's aggregate excess-of-loss (XoL) worldwide retrocession reinsurance layer has decreased by almost 50% to approximately €113 million, as the German reinsurer navigated more challenging retro market conditions at the January 1st renewals. As forecast towards the end of last year, aggregate retro capacity was harder ... Read the full article
Brown & Brown to acquire wholesale broker BdB’s general insurance operations
7th February 2022
Global insurance brokerage Brown & Brown has reached an agreement to acquire the general insurance operating entities of BdB Limited companies, a specialist wholesale broker. Announced today by J. Scott Penny, chief acquisitions officer of Brown & Brown and the management ownership team of BdB, the transaction is expected to close ... Read the full article
Aon expecting single-digit growth in revenues this year
7th February 2022
Aon has predicted organic growth in its revenues in the mid-single digits or higher over this year. In an earnings call to reveal its Q4 earnings, Christa Davies, CFO of the re/insurance broker, said that this trend would not only be seen over 2022, but would extend over the long term. On ... Read the full article
Compre recruits Mitha as Chief Actuary for North America
7th February 2022
Compre, the international specialist legacy group, has announced the appointment of Zameer Mitha as Chief Actuary, North America. In this newly created role, Mitha will be based in London and report to Group Chief Actuary Mark Lawson. Mitha, who will also spend some of his time in Bermuda, will be responsible for ... Read the full article
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