Reinsurance News
Marsh McLennan commits to net zero by 2050
31st March 2022
Marsh McLennan has committed to reaching net zero across its operations by 2050, alongside reducing its carbon emissions by half in the next eight years. All this was detailed in the firm’s just-released Accelerating Impact report, where it sets out its emissions reduction target. That target, says Marsh McLennan, is aligned ... Read the full article
Lockton names Michelle Faylo as new US cyber and tech leader
31st March 2022
Lockton has named Michelle Faylo as its new US cyber and technology leader. The company said in the announcement that Faylo would lead Lockton's team of cyber specialists, delivering solutions to global businesses that face increasingly complex cyber risks. Devin Beresheim, executive vice president of specialty practices at Lockton, said: “Michelle is ... Read the full article
AXIS Capital appoints Fintan Mullarkey as CEO of AXIS Specialty Europe
31st March 2022
AXIS Capital has appointed Fintan Mullarkey as CEO of AXIS Specialty Europe SE (ASE). The firm said that the appointment was still pending due to regulatory approval but once confirmed, Mullarkey would be responsible for ASE and the legal entity aspects of its branches. Mullarkey will also join the Board of ... Read the full article
Lancashire Insurance says aviation losses from Russia-Ukraine ‘manageable’
31st March 2022
Lancashire Insurance says that its exposure to the Russia-Ukraine conflict is ‘manageable’. Speaking on a conference call hosted by Berenberg in London at the weekend, the firm said that its exposure to Russia-Ukraine was manageable and that its worst-case scenario remains an earnings event, not a balance sheet one. According to Lancashire, ... Read the full article
Andy Rear & Will Allen plan £150m London SPAC IPO: report
31st March 2022
Former Munich Re executive, Andy Rear and Will Allen, previously of investment bank KBW, are soon to launch a new special purpose acquisition company (SPAC) on the London Stock Exchange called FINSAC, according to a Sky News report. The report from Sky News confirms market rumours that had been circulating, and ... Read the full article
Miller names Andrew Barr as Broker, Credit & Political Risk
31st March 2022
Specialist re/insurance broker Miller has appointed Andrew Barr to its Credit and Political Risks (CPRI) team as Credit & Political Risk Insurance Broker, where he will continue to be based in London. Barr joins from Texel, where he spent the last four years as a broker. Prior to Texel, he was ... Read the full article
Fortitude Re gets investment boost from owners, strikes advisory deal
31st March 2022
Fortitude Re is set to receive a capital contribution of $525 million from its minority shareholder, T&D Holdings, while also having struck a new advisory agreement with its largest shareholder, Carlyle Group. T&D and Carlyle, which own 25.0% and 71.5% of Fortitude Re, respectively, acquired their interests in the reinsurer ... Read the full article
Allianz (AGCS) hires Vanessa Maxwell as global head of financial lines
31st March 2022
Allianz Global Corporate & Specialty has hired Vanessa Maxwell as global head of financial lines. Maxwell has been hired from her current role as UK country manager at Berkshire Hathaway Specialty Insurance. She will report to Shanil Williams who was promoted to join the AGCS SE Board of Management in January ... Read the full article
Participants in next cohort of Lloyd’s Lab unveiled
31st March 2022
Lloyd’s has announced the next eleven InsurTech start-ups that will join the eighth cohort of the Lloyd’s Lab. The market said it had received over 150 applications, which it had whittled down to the final selection of eleven. These will form the next cohort of the Lloyd’s Lab, beginning on 25 ... Read the full article
Marsh McLennan appoints Mikhail Vanyo as general counsel
31st March 2022
Marsh McLennan has appointed Mikhail Vanyo as general counsel of Marsh. Vanyo will succeed Katherine Brennan, who was made senior vice president and general counsel earlier in the month. He will report directly to Martin South, president and CEO of Marsh, as well as Brennan. Based in New York, Vanyo will ... Read the full article
PERILS lands on €3.3b insured loss from February storms in Europe
31st March 2022
Catastrophe loss aggregator PERILS has estimated that the series of windstorms that impacted the British Isles and continental Europe through February this year will drive insured property market losses of €3,289 million. The series consisted of three storms named Ylenia, Zeynep and Antonia in Europe and Dudley, Eunice and Franklin in ... Read the full article
Arch Insurance makes multiple senior appointments to claims team
31st March 2022
Arch Insurance International, part of re/insurer Arch Capital Group Ltd, has made multiple senior appointments for its claims team. In a press release, the company announced the appointments of Janet Brook, Sheena Hooda and Tilly Milnes as Senior Claims Handlers, effective immediately. Both Brook and Milnes have joined the Financial Institutions claims ... Read the full article
COVID resurgence in China impacting supply chains, warns Maersk
31st March 2022
Shipping and logistics company Maersk has warned that flare-ups of COVID-19 across many of China’s largest cities are having an adverse effect on global supply chains. A number of cities in China, including Beijing, Hong Kong, Shenzhen, Shanghai, and Qingdao, are currently dealing with a resurgence in COVID cases. In response, the ... Read the full article
Italian firm MAG buys up most of Neosurance
31st March 2022
MAG SpA Group has bought the majority of start-up broker firm Neosurance. A statement from the company said that it had acquired just over 50% of stakes. MAG said that the purchase would strengthen its corporate structure. Neosurance enables the B2B2C distribution of innovative policies through digitization and hybridization of sales channels, ... Read the full article
Duck Creek names Shreyas Vasanthkumar as Managing Director
31st March 2022
Duck Creek Technologies has appointed Shreyas Vasanthkumar as Managing Director, Europe, the Middle East and Africa (EMEA), where he will be responsible for driving profitable growth across Duck Creek Technologies’ EMEA operations, as well as investment in key global accounts headquartered regionally. Vasanthkumar joins Duck Creek from Hexaware Technologies where he was ... Read the full article
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