Reinsurance News
Parametrics & climate-adapted cat models are trends for 2022: CoreLogic
31st January 2022
Analysts at CoreLogic are forecasting that parametrics and climate-adapted catastrophe models will be key trends for re/insurers in 2022 following another year of elevated losses. The cat modeller sees parametric insurance in particular as a valuable supplement to traditional indemnity insurance. “These technologies are perfectly suited to provide insights into the high-gradient ... Read the full article
Parsyl raises $25m Series B funding
31st January 2022
Denver-based Parsyl has raised $25m in Series B funding to expand its cargo insurance and risk management solutions. The company uses data to identify and manage risk, while reducing the wastage of essential goods. According to a release, its technology is currently monitoring vaccines for nearly 200m people. The Series B financing ... Read the full article
Is pension scheme derisking heading into a boon year in 2022?
31st January 2022
WTW has posited that pension scheme derisking will have a boon year in 2022, according to a new report the company has put out this week. The work, WTW’s de-risking report 2022 titled A Bright Future Ahead, predicts that this year will be the fourth in a row that bulk annuities ... Read the full article
Descartes plans expansion after $120m capital raise
31st January 2022
Descartes Underwriting, an insurtech company specializing in corporate insurance solutions to address climate and emerging risks, has announced a $120 million Series B funding round. Growth equity firm Highland Europe led the raise alongside international investment company Eurazeo, with participation from existing investors Serena, Cathay Innovation and Blackfin Capital Partners and ... Read the full article
Re/insurers poised for growth despite economic challenges: EY
28th January 2022
Analysts at EY have argued that the global re/insurance is “poised for a period of purposeful growth,” despite daunting macroeconomic and structural challenges, fierce competition and ongoing tech-driven disruptions. After the dramatic developments of the last few years, EY believes re/insurers have shown they can undertake large-scale change at a faster ... Read the full article
Pango Group names new Executive Director, Global Cyber Solutions
28th January 2022
Pango Group has appointed Paul Miskovich as Executive Director, Global Cyber Solutions, where he will lead the company's global cyber insurance solutions business. Prior to joining Pango Group, Miskovich has held insurance leadership roles as Chief Underwriting Officer at Evertas, Group Head of Cyber at ARGO Group, and Global Head of ... Read the full article
Re/insurer resilience a “bright light” in Bermuda’s economy: PwC’s Wightman
28th January 2022
Arthur Wightman, Territory leader for PwC Bermuda, has described the insurance and reinsurance sector’s resilience as a “bright light in Bermuda’s economy,” as part of a PwC report that shows growing optimism among CEOs regarding the global economy. After surveying thousands of CEOs between October and November last year, PwC found ... Read the full article
Gallagher saw renewal premium releases top 8% in Q4 2021
28th January 2022
Illinois-based Arthur J. Gallagher saw renewal premium releases go up 8% in Q4 2021, a result which the firm said was ‘broadly consistent’ with the first three quarters of the year. The firm revealed that retail renewal premiums had gone up between 7% and 9% across North America, Australia, New Zealand, ... Read the full article
MetLife completes two longevity reinsurance transactions
28th January 2022
The Metropolitan Tower Life Insurance Company has completed two longevity reinsurance transactions with Phoenix Group. The transactions, completed at the end of last year, dictate that the insurer will provide reinsurance to Phoenix for longevity risk associated with approximately $2.4 billion of U.K. pension liabilities. Jay Wang, senior vice president and head ... Read the full article
December insured losses 4.9x usual due to Colorado wildfires and tornadoes
28th January 2022
Insured losses in December were nearly five times their average, according to a new report from Jefferies. The investment bank’s report, named The Weather Front, said that while October and November were ‘benign’ for the insurance and reinsurance industry, ‘December proved to be unexpectedly costly’. “These high insured losses,” wrote its analysts, ... Read the full article
R&Q names US Head of Compliance and Regulatory Affairs
28th January 2022
Randall & Quilter Investment Holdings, the non-life global specialty insurance company focused on Program Management and Legacy Insurance businesses, has announced the appointment of Peter Hartt as its US Head of Compliance and Regulatory Affairs. Hartt joined the business on 10 January and reports to Angele Galea St John, Group Head ... Read the full article
Liberty GTS bolsters European presence in Milan, Madrid, and Paris
28th January 2022
Liberty Global Transaction Solutions is to bolster its pan-European presence by moving three of its employees to locations around the continent. According to a release from the firm, Barbara Magni and Antonio Jesús Sánchez, both underwriters, will relocate from London to Milan and Madrid. Meanwhile, Martin Noire, also an underwriter, will ... Read the full article
WTW sets up cybercrime task force
28th January 2022
Re/insurance broker WTW has announced the formation of its CyberCrime task force within its Financial, Executive and Professional Risks (FINEX) global practice. The objectives of the task force include tailoring traditional or alternative risk transfer solutions for client’s enterprise risk management objectives, as well as identifying and advising on emerging risks ... Read the full article
SCOR concludes sustainability-linked LOC
28th January 2022
French reinsurer SCOR has concluded a five-year sustainability-linked standby letter of credit facility with Crédit Agricole CIB, which has been structured to incorporate an indexation to SCOR’s two key public ESG commitments. One of the commitments includes the Group Executive Committee to comprise at least 30% women by 2025, followed by ... Read the full article
W. R. Berkley reports twofold income growth for 2021
28th January 2022
Re/insurance holding company W. R. Berkley Corporation has reported a nearly twofold increase in net income over 2021, which totaled $1.02 billion for the year, compared with $530.7 million in 2020. Operating income for the year similarly more than double from $438.3 million to $951.9 million. For the Q4 period, net income ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
