Reinsurance News
Swiss Re promotes Claudia Cordioli to Group Finance Director
12th April 2022
Reinsurance giant Swiss Re has appointed Claudia Cordioli as the new Group Finance Director, reporting to Group CFO John Dacey. In her new role, Cordioli will oversee the Group Reporting, Group Tax, Accounting & Reporting and Finance Corporate Functions as well as the implementation of the IFRS framework across Finance. Cordioli holds ... Read the full article
Lloyd’s building closed after climate activist protest
12th April 2022
The Lloyd's building at Lime Street in London has been closed this morning, after protesters from climate activist group Extinction Rebellion blockaded entrances. "We are currently unable to enter the Lloyd's building due to protesters outside," Lloyd's said in a statement released at 9.15am this morning. "In the interests of your safety, ... Read the full article
Russia-Ukraine conflict driving more exclusions into re/insurance
12th April 2022
The Russia-Ukraine conflict is driving more exclusions into re/insurance, with Munich Re reportedly planning new wordings within its cyber insurance policies to exclude war, to avoid disputes over what is covered, according to Reuters. The war in Ukraine has raised fears of cyber attacks, with the risk that Western businesses or ... Read the full article
Paula Ferreira takes over as CEO of LatAm, Aon’s Reinsurance Solutions
12th April 2022
Global insurance and reinsurance broker Aon has announced the appointment of Paula Ferreira as Chief Executive Officer (CEO) of Latin America in Reinsurance Solutions, taking over from Pablo Muñoz. Previously, Ferreira served as Aon's Reinsurance Solutions Growth Leader and President for Latin America, with 13 years at the broker and 26 ... Read the full article
Argenta Private Capital appoints new members to Board
12th April 2022
Argenta Private Capital has appointed three new independent non-executive directors to its Board. The firm said it had appointed Cordelia Bowdery, Monica Burch, and Philip Glaze to be the members of its board. Bowdery is an associate investment partner at Veritas Investment Partners, Burch is the former senior partner at international law ... Read the full article
ICMIF members wrote aggregate of $247 billion in premiums for 2020: Report
12th April 2022
According to a report from the International Cooperative and Mutual Insurance Federation (ICMIF), 70% of members exceeded their local market’s annual growth over the last financial year. These results follow positive findings from a recent ICMIF Members Sustainable Investment Report 2021, where 80% of ICMIF members named in the study exceeded ... Read the full article
WTW to complete acquisition of WTW India
12th April 2022
WTW has received approval from the Insurance Regulatory and Development Authority of India on its acquisition of the remaining 51% shares in WTW India. In addition, the firm has announced that Vivek Nath has been appointed as head of India for WTW. The transaction will see WTW add the insurance broking ... Read the full article
Goldman Sachs sees ‘active and nuanced’ global cat market
11th April 2022
Goldman Sachs says that it saw an ‘active and nuanced’ global catastrophe quarter in the first three months of this year. The firm said that it found that US-centric personal lines looked to be best positioned since there were well-below-average natural catastrophe losses in the same region. Meanwhile, globally oriented commercial lines ... Read the full article
US states adopt new standard on climate-related risks
11th April 2022
A group of state insurance regulators in the US has adopted a new standard for insurance companies to report their climate-related risks, in alignment with the international Task Force on Climate-Related Financial Disclosures (TCFD). The announcement, made during the National Association of Insurance Commissioners' (NAIC) spring meeting in Kansas City, is ... Read the full article
KBW forecasts $10bn of Q1 re/insured nat cat losses
11th April 2022
Analysts at KBW are expecting insurers and reinsurers to post a combined $10 billion of global natural catastrophe losses across their first quarter results. These are likely to stem mostly from Australian and European floods, KBW says, as well as Japan’s March 16th earthquake and several US weather events. Analysts added that ... Read the full article
Compre appoints new North America CEO
11th April 2022
Compre has appointed David Presley to be its new Chief Executive Officer (CEO) for North America. Presley, said the legacy specialist, will join the firm at the end of April and will report to Will Bridger, group CEO. Bridger said in a statement: “I am delighted to welcome David to Compre, whose ... Read the full article
GCube opens offices in Spain and Australia, makes multiple hires
11th April 2022
GCube has made a host of new appointments alongside opening two more international offices. The firm said that it was opening offices in Spain and Australia, while adding five people to its underwriting and claims teams in Europe and North America. In Australia, GCube now has a presence in Tokio Marine’s Sydney ... Read the full article
Sompo Intl. names Kenneth Reilly as EVP of new Tokyo office
11th April 2022
Sompo International has appointed Kenneth Reilly as Executive Vice President, General Manager, Global Business Department, Sompo Holdings and Executive Vice President, Head of the new Sompo International Tokyo office. He will report to both Mikio Okumura, Chief Operating Officer, Sompo Holdings and James Shea, Chairman and CEO, Sompo International. Reilly holds over ... Read the full article
RBC assumes $2bn Russian aviation loss to industry
11th April 2022
Analysts at RBC Capital Markets are assuming industry aviation losses stemming from sanctions on Russia will total $2 billion, constituting only an earnings event for UK specialty P&C insurers. Looking ahead to Q1 trading updates, RBC foresees loss exposures to the Russia-Ukraine conflict as being the many focus for many companies. However, ... Read the full article
QBE Re appoints Tim Barber as interim head of US Treaty
11th April 2022
QBE Re has appointed Tim Barber to be its interim head of US Treaty. The firm said that Barber would be replacing Chris Larson, who was stepping down for personal reasons. In his new role, Barber will be reporting to Steve Postlewhite, global managing director of QBE Re. Postlewhite said in a ... Read the full article
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