Reinsurance News
McGill and Partners reaches 14 employees in Irish office
2nd February 2022
McGill and Partners now has fourteen employees based at the Dublin office it opened in October last year. The Irish-based part of the firm began transactions in January last year and said it intends to grow to fifty colleagues within the next three years. Stephen Cross, CEO for Ireland at McGill and ... Read the full article
Atrium Underwriters teams up with AI firm Tautona
2nd February 2022
Atrium Underwriters is to automate the initial evaluation stage of its North American property claims through a partnership with IT firm Tautona. The partnership will use an AI system built by the latter, and which the companies say has been through a ‘lengthy pilot stage’. It is understood that it is ... Read the full article
Metromile shareholders approve acquisition by Lemonade
1st February 2022
Shareholders in the pay-per-mile auto insurer, Metromile Inc. have given their approval to the impending acquisition of the company by insurtech Lemonade. At a Special Meeting of Metromile stockholders held today, approval was given to a proposal to adopt the merger agreement entered into with Lemonade, Inc., which is aiming to ... Read the full article
US insurers slow to adopt ESG factors into investments: Conning
1st February 2022
US insurance companies' interest in incorporating Environmental, Social and Governance (ESG) factors into their investment strategies has had a significant growth within the last couple of years, according to a new survey by global insurance asset management firm, Conning. The survey explained that whilst US insurers have considered ESG and climate-related ... Read the full article
Fenchurch Law forms Reinsurance & Intl. Risks practice
1st February 2022
Fenchurch Law, the UK legal firm focused on insurance coverage disputes, has launched a new practice group focused on Reinsurance & International Risks. The new group will focus on representing non-UK policyholders in complex and high value insurance disputes under policies placed either directly into the London Market, or placed locally ... Read the full article
Chaucer creates dedicated renewable power team as Energy Division expands
1st February 2022
Specialty re/insurance group Chaucer is launching its own dedicated team for Renewable Power. The team will be one of two within the company’s Energy Division, with the other being the restructured Natural Resources. The newly created Renewable Power team will be led by Lyndsey Picton, who will be the head of renewable ... Read the full article
BMS Re facilitates ADC for AMS RRG reinsured by Genesis
1st February 2022
Reinsurance broker BMS Re acted as the broker for a legacy reinsurance transaction between its long-standing client, Applied Medico- Legal Solutions Risk Retention Group (AMS RRG) and a subsidiary of Genesis Legacy Solutions. The legacy transaction is an adverse development cover (ADC) reinsured by a subsidiary of Genesis Legacy Solutions, which ... Read the full article
Abbott named Product Head Aviation for Chubb Global Markets
1st February 2022
Chubb has announced the appointment of Simon Abbott as Product Head Aviation for Chubb Global Markets (CGM), the company's London Market wholesale and specialty arm including its Lloyd's platform. In this role, Abbott will lead all aspects of the insurer's Aviation business, which is based in London and has hubs in ... Read the full article
Venerable & Manulife close $22bn variable annuity reinsurance transaction
1st February 2022
Manulife Financial Corporation's subsidiary, John Hancock Life Insurance Company (U.S.A.), has completed its previously announced $22 billion reinsurance transaction with Corporate Solutions Life Reinsurance Company, a subsidiary of Venerable Holdings, Inc. The arrangement see Venerable reinsure roughly $22 billion of variable annuity business from Manulife's U.S. subsidiary John Hancock. On a pro ... Read the full article
Integral ILS hits $1.1bn capital deployed milestone
1st February 2022
Independent insurance-linked securities (ILS) fund manager, Integral ILS Ltd., has announced that it has surpassed $1.1 billion of investor capital deployed, in addition to having raised in excess of $1.4 billion since its founding in July 2020. Over the past year, the firm has received several new commitments from institutional investors. It ... Read the full article
Compre appoints new chief actuary for North America
1st February 2022
Compre has appointed Zameer Mitha to be its chief actuary for North America. Despite the job title, Compre said that Mitha will be based in London and report to Mark Lawson, group chief actuary, with some time spent in Bermuda. Mitha will be responsible for transaction pricing, reserving, and actuarial reporting activities ... Read the full article
Arch MI obtains $315m of indemnity reinsurance from capital markets
1st February 2022
Arch Mortgage Insurance Company (Arch MI) has announced that it has obtained over $315 million of indemnity reinsurance on a pool representing approximately $6.3 billion of mortgages from Bellemeade Re 2022-1 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $282 million in bonds and $33 million in ... Read the full article
Marco’s RITC Syndicate 1254 at Lloyd’s approved to write business
1st February 2022
European property and casualty (P&C) run-off group, Marco Capital Holdings Limited, has reported that the specialist Lloyd's re/insurance market has granted its RITC Syndicate 1254 permission to write business. Marco Capital was granted ‘in principle’ approval to launch a reinsurance-to-close (RITC)/run-off syndicate at Lloyd's in October 2021. The formal approval process ... Read the full article
Swiss Re CorSo and green energy financier in $500m co-investment program
1st February 2022
Swiss Re Corporate Solutions has entered into a partnership with renewable energy financier NORD/LB on a $500 million ESG co-investment programme to enable more investment into renewable energy projects. The programme is ESG-certified by Sustainalytics and uses pre-agreed eligibility criteria to allow more efficient deployment of capacity to renewable energy projects. The ... Read the full article
Aqueous targets UK professional indemnity market expansion
1st February 2022
Specialist MGA Aqueous Underwriting has secured an uplift in capacity as part of its plans to grow its presence across the UK professional indemnity insurance marketplace in the months ahead. The push enables Aqueous to offer cover for limits up to £10 million, on either a primary or excess layer basis, ... 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.
