Reinsurance News
Toa Re Europe sponsors $25mn private cat bond
10th January 2022
Toa Re Europe, the Switzerland-based European reinsurance arm of Japanese group Toa Reinsurance Company, has sponsored $25 million of Silver Crane three-year catastrophe notes with selected investors. This private catastrophe bond will further develop Toa Re Europe’s collaboration with capital market partners, along with the renewal of its predecessor Blue Crane, ... Read the full article
SCOR names Lacroix as Head of Sustainability, expands team
10th January 2022
SCOR has announced the appointment of Michèle Lacroix as Group Head of Sustainability, as part of a wider effort to expand and reinforce its team dedicated to sustainability. In this new team, Paul Nunn, currently Head of ESG within the P&C Business Unit, has been promoted to Head of Sustainable Insurance ... Read the full article
Berkshire Hathaway’s NICO invests in Ariel Re
10th January 2022
National Indemnity Company (NICO), part of Warren Buffett's insurance and reinsurance firm Berkshire Hathaway, has expanded its strategic alignment with reinsurer Ariel Re through an investment and multi-year quota share agreement. NICO has both invested in Ariel Re Convertible Notes and extended its underwriting commitment to Ariel Re's Syndicate 1910 at ... Read the full article
Vantage kicks off 2022 with numerous appointments
10th January 2022
Vantage Group Holdings Ltd., which launched ahead of the January 1st, 2021, reinsurance renewals as a Bermudian specialty insurer and reinsurer, has welcomed a number of new colleagues to its ranks at the start of 2022. Established and led by industry veterans Dinos Iordanou as Non-Executive Chairman and Greg Hendrick as ... Read the full article
Gallagher Re reports constrained capacity in global non-marine retro
10th January 2022
Global reinsurance broker Gallagher Re has reported constrained capacity in global non-marine retrocession as traditional reinsurers have restricted their requirements for capital deployment, with the ILS market showing significant outflows and limited inflows. The broker noted that aggregate capacity was in shorter supply than in previous years, with providers wary of ... Read the full article
FEMA sees decline in participating Lloyd’s Syndicates at 2022 NFIP reinsurance renewal
10th January 2022
The U.S. Federal Emergency Management Agency's (FEMA) January 2022 flood reinsurance renewal for the National Flood Insurance Program (NFIP) saw a reduction in the number of participating Lloyd's syndicates, which could be a reflection of the heavy catastrophe load. FEMA recently announced the procurement of $1.064 billion of flood reinsurance ... Read the full article
Latest count shows 1,091 structures destroyed by Marshall Fire
10th January 2022
The latest figures from the Boulder Office of Disaster Management (ODM) show that the late-season Marshall Fire in Boulder County, Colorado has destroyed at least 1,091 structures, with a further 179 damaged. The wildfire, which broke out on December 30th, only burned through an area of some 6,000 acres over two ... Read the full article
Everest promotes Will Dove to Head of Risk & Ceded Reinsurance
10th January 2022
Everest Insurance, part of Bermuda-based Everest Re Group, has appointed Will Dove as Head of Risk & Ceded Reinsurance where he will lead the Division’s global ceded reinsurance strategy, placement and execution. In his position, Dove will be responsible for optimising a global hedging strategy to improve net underwriting profit while ... Read the full article
Munich Re calls for urgency as re/insured nat cat losses hit $120bn in 2021
10th January 2022
Globally, the impacts of natural disaster events in 2021 cost the economy a huge USD 280 billion, of which reinsurer Munich Re says approximately USD 120 billion, or 43% were covered by re/insurance protection. The USD 120 billion total is above some other estimates for the year, including Swiss Re's USD ... Read the full article
Trevor Jones named head of KPMG UK insurance practice
10th January 2022
KPMG in the UK has appointed Trevor Jones as the new head of its insurance practice, replacing Simon Ranger, who will now focus on leading the Vice Chairs’ office. Jones has over 30 years of insurance experience and has spent 24 of those with KPMG. He previously led the firm’s UK actuarial ... Read the full article
Alice Kaye named COO at Inigo
10th January 2022
Specialty insurer and reinsurer, Inigo Limited, has appointed Alice Kaye as its new Chief Operating Officer (COO), taking over from Karen Graves, who had been in the role for just over a year. Kaye joined Inigo in May 2021 as Chief of Staff, having previously served at Bermuda-based reinsurer Everest Re ... Read the full article
Aviation reinsurance market unaffected by COVID at renewals: GC
10th January 2022
Analysts at Guy Carpenter have reported that the general aviation and aerospace markets remained “relatively unaffected” by COVID-19 at the January 1, 2022 renewal period. After two years of increases in these markets, the broker reported that reinsurers priced as before or slightly higher (up 2.5%) as an average across programs ... Read the full article
Swiss Re Corporate Solutions unveils changes to China leadership
10th January 2022
Swiss Re Corporate Solutions, the global reinsurer's commercial insurance arm, has announced that Jingwei Jia, Chief Executive Officer (CEO) Greater China, left the company on January 6th, 2022, after 15 years of service. Jia first joined Swiss Re in 2006 as an underwriter in London. During his tenure with the company, ... Read the full article
APAC property market to hit $137.5bn in 2025: GlobalData
10th January 2022
The property insurance industry in Asia-Pacific (APAC) is projected to grow from $85.8bn in 2020 to $137.5bn in 2025, in terms of written premiums, according to data and analytics company GlobalData. A new report predicts the property insurance industry in APAC will grow at a compound annual growth rate (CAGR) of ... Read the full article
Kameswara Natakusumah to lead WTW Indonesia
10th January 2022
Willis Towers Watson (WTW) has appointed Kameswara Natakusumah as Head of Indonesia and Head of Corporate Risk & Broking (CRB) in Indonesia. Based in Jakarta, Natakusumah will deliver client-focused solutions that manage risk, optimise benefits and cultivate talent to strengthen and protect organisations across the vast archipelago. He will also work closely ... Read the full article
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