Reinsurance News
R&Q Accredited and First Underwriting enter £1bn capacity deal
13th January 2022
Bermudian specialist non-life re/insurance investor Randall & Quilter Investment Holdings (R&Q) has announced that its Accredited subsidiary has signed a five-year program management agreement with First Underwriting, a fast-growing UK-based MGA. The agreement includes a targeted capacity of £1bn in gross written premium over the period and will be supported by ... Read the full article
Aviva CFO Jason Windsor to step down
13th January 2022
London-headquartered insurer Aviva has announced that Jason Windsor has resigned from his position as Chief Financial Officer (CFO) and as a Director of the Company. Windsor will leave with effect from July 2022 to take up the position of CFO at Persimmon, a British housebuilding company, headquartered in York. Over the next ... Read the full article
Matt Finch takes Finance Director role at Carbon Underwriting
13th January 2022
Carbon Underwriting Limited, the specialist, independent managing general underwriter (MGU) and Lloyd’s syndicate, has announced the appointment of Matt Finch as Finance Director. Finch has almost 25 years of financial services experience and had been undertaking the Finance Director role at Carbon on a contract basis for the last 10 months ... Read the full article
Man Group’s new CAS initiative looks to deliver flexible re/insurance solutions
13th January 2022
Man Group, a technology-empowered active investment management firm, has launched Capital Asset Solutions (CAS) within Man Solutions Limited, a new initiative designed to provide insurers with bespoke and flexible re/insurance solutions with a focus on liabilities and asset management. Predominantly, CAS will focus on the global retirement services and savings market ... Read the full article
WTW forms new Crisis Management unit
13th January 2022
WTW has formed a new Crisis Management unit with the merger of SCR and its Terror and Political Violence teams which will sit within its Financial Solutions Global Line of Business. The new unit will be led Jo Holliday, Managing Director of SCR, and deliver crisis management and contingency risk management ... Read the full article
PRA says more work on climate risks required from many re/insurers
13th January 2022
UK regulator the Prudential Regulation Authority (PRA) has set out its priorities for 2022, which include a renewed focus on the financial risks arising from climate change. The PRA acknowledged that some insurers and reinsurers have made “good progress” in embedding supervisory expectations on climate risk. However, it added that progress has ... Read the full article
Gallagher names Head of Financial Lines for Middle East
13th January 2022
Global re/insurance broker Gallagher has appointed Daniel Miller to lead its financial lines operations for clients in the Middle East. Miller will join Gallagher in April from Aon, where he has worked for the last eight years as Regional Head of Financial and Professional Liability (finpro) for the Middle East. He has ... Read the full article
Duhart to lead AXA XL Specialty Niche business in Americas
13th January 2022
AXA XL Insurance has promoted Maria Duhart to lead its Specialty Niche insurance business in the Americas. She steps into the role of Chief Underwriting Officer for Specialty Niche from her previous role as head of AXA XL's Commercial Bonds business. In her new role, Duhart reports to Donna Nadeau, Chief Underwriting ... Read the full article
HCI shelves proposed TypTap IPO in light of recent market conditions
13th January 2022
HCI Group has shelved the planned U.S. initial public offering (IPO) of its Florida insurtech subsidiary, TypTap Insurance Company, in light of current market conditions. It was announced in August last year that HCI Group had confidentially submitted a draft registration statement for a proposed IPO with the Securities and Exchange ... Read the full article
Businesses need to shift their mindsets around risk: Aon’s Greg Case
13th January 2022
Businesses need to shift their mindsets around being prepared for risk, according to Greg Case, Aon’s chief executive officer in a recent interview. In its new survey, Aon found that in order to succeed in the current climate, businesses need to focus on four critical priorities, navigating new forms of volatility, ... Read the full article
Sompo Intl. adds Patrick Corbett as Global Head of A&H
13th January 2022
Sompo International Holdings Ltd., the global Bermuda-based specialty provider of property and casualty insurance and reinsurance, has announced the appointment of Patrick Corbett as Executive Vice President, Global Head of Accident and Health (A&H), International Insurance. He will be based in London and report to Richard Housley, Chief Underwriting Officer, International ... Read the full article
Chubb names Julie Dillman as Digital Transformation Officer
13th January 2022
Chubb has announced the appointment of Julie Dillman as Executive Vice President, Chubb Group and Digital Transformation Officer, effective January 1, 2022. Thomas Kropp will also transition into Dillman’s previous role of Head of Operations and Technology. In her new role, Dillman will partner and work closely with Chubb's Chief Digital Business ... Read the full article
Phoenix Group completes four BPA transactions
13th January 2022
Life consolidator Phoenix Group has completed four Bulk Purchase Annuity (BPA) transactions during the second half of 2021, covering £4.0 billion of premiums. These transactions also comprised of £3.6 billion of external deals and a further £0.4 billion tranche of the group's Pearl Pension Scheme. This equates to total BPA premiums of ... Read the full article
Short-term inflation manageable for reinsurers, says Fitch
12th January 2022
The current short-term consumer price inflation (CPI) spike is manageable for the reinsurance industry, but should inflation prolong it could weaken carriers' credit profiles, warns Fitch Ratings. Currently, CPI rates are approaching multi-decade highs in Europe and the U.S. The spill-over effect from the spike has the potential to inflate claims ... Read the full article
CoreLogic names Pat Dodd interim President & CEO
12th January 2022
CoreLogic, a global provider of property information, analytics, and data-enabled solutions, has announced Pat Dodd as interim President and Chief Executive Officer (CEO). Dodd replaces Frank Martell who transitions to non-executive Chairman of the company's Board of Directors. Interim President and CEO Dodd first joined the company in 2020 as Chief ... Read the full article
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