Reinsurance News
Monument Re & AXA Belgium agree transfer of a run-off life portfolio
22nd December 2021
Life insurance and reinsurance holding company, Monument Re, through its subsidiary Monument Assurance Belgium (MAB), and AXA Belgium have reached an agreement for the transfer of a run-off life insurance portfolio with BEGAAP provisions of €2.6 billion. MAB is Belgian life assurance firm regulated by the National Bank of Belgium. The carrier ... Read the full article
Intl. Group of P&I Clubs secures more costly reinsurance programme for 2022
22nd December 2021
The International Group Pooling and GXL Reinsurance contract for 2022 has now been finalised, with the Group agreeing to pay more in premiums to secure the renewal of its 2022 reinsurance programme. The increase in reinsurance spend comes amid hardening market conditions and the deterioration in the Group's claims record with ... Read the full article
Canopius names Greg Alcazar as CFO of U.S. operations
22nd December 2021
Greg Alcazar has been appointed as the new Chief Financial Officer (CFO) of the U.S. operations of global specialty insurer and reinsurer Canopius Group, effective December 20th, 2021. In his new role, Alcazar leads the U.S. Finance and Actuarial team at Canopius. He brings more than 25 years of insurance leadership experience ... Read the full article
Definity adds former Swiss Re Group CUO Schmid to Board
22nd December 2021
Multi-channel insurance carrier, Definity Financial Corporation, has added Edouard Schmid, formerly the Group Chief Underwriting Officer (CUO) of reinsurance giant Swiss Re, to its Board of Directors. Swiss Re Investments Holding Company Ltd, part of the global reinsurer which nominated Schmid to the Board, holds approximately 9.9% of Definity's common shares. Schmid ... Read the full article
Helios reports increase in retained capacity for 2022
22nd December 2021
Helios Underwriting has confirmed that the retained underwriting capacity for the 2022 year of account will be £171 million, which is a 191% increase in the capacity underwritten at the start of this year. The firm reports that the overall portfolio, including the capacity reinsured, has increased to £233 million, more ... Read the full article
SCOR Specialty names Mumme-Young as Global Line Head of Political and Credit Risk
22nd December 2021
SCOR Specialty Insurance has appointed Henry Mumme-Young as Global Line Head of Political and Credit Risk, effective immediately. Mumme-Young joined the Channel Syndicate in 2014 and was most recently Senior Underwriter and deputy in SCOR’s PCR department. He is a chartered insurer and has held previous roles in Political and Credit Risk ... Read the full article
Richard Pennay joins Aon Securities as Head of ILS
21st December 2021
Global insurance and reinsurance broker Aon has appointed Richard Pennay as Head of its insurance-linked securities (ILS) team, which is part of the company's Aon Securities division. In his new role, Pennay will be based in New York and reports to Paul Schultz, Chief Executive Officer (CEO) of Aon Securities. As Head ... Read the full article
SiriusPoint eyeing Canadian life with PolicyMe investment
21st December 2021
Global specialty re/insurer SiriusPoint has strategically invested in PolicyMe, a digital life insurer focused on Canadian individual term life policies. PolicyMe aims to modernise and improve the process of buying life insurance by leveraging automation and a streamlined customer experience. SiriusPoint’s strategic investment will be used to help support product development. The transaction ... Read the full article
Allianz Insurance names Stuart Toal head of mid-corporate
21st December 2021
Allianz Insurance has added Stuart Toal as head of mid-corporate, a newly-created role. Helen Bancroft is to step into the position vacated by Toal, and has been promoted to serve as the firm's new casualty account manager. Reporting to Chief Underwriting Officer, Catherine Dixon, Toal will lead the mid-corporate business, playing a ... Read the full article
Lloyd’s welcomes Nephila’s Syndicate 2358
21st December 2021
Lloyd’s of London has joined investment manager Nephila Capital in announcing the launch of Syndicate 2358. Nephila's new Syndicate focuses on short to medium term business lines, with capital provided through London Bridge Risk PCC (LBR PCC). The new transaction provides reinsurance capital from a varied group of investors, ... Read the full article
WTW launches new Risk and Analytics model
21st December 2021
Willis Towers Watson has launched a new Risk and Analytics model for the trade credit market which analyses clients’ trade receivables to predict potential losses over a range of statistical scenarios. By identifying the unique frequency and severity of potential credit risk losses within a firm’s receivables portfolio, the model takes ... Read the full article
Marsh hires Rick Howell as Aviation Operational Risk Consulting Leader
21st December 2021
Insurance broker and risk advisor Marsh has appointed Rick Howell as Aviation Operational Risk Consulting Leader. Based in Hong Kong, Howell will report to Garrett Hanrahan, Global Head of Aviation & Space, Marsh Specialty. In his new role, Howell will advise Marsh Specialty’s aviation clients globally on best practice in operational risk ... Read the full article
WTW appoints Petersen to lead North American primary casualty
21st December 2021
Willis Towers Watson has appointed Casey Petersen to lead its Primary Casualty Broking business in North America. Petersen's focus will be on designing and implementing bespoke risk financing solutions for WTW's clients. Based in Chicago, Petersen he reports to Jon Drummond, head of Broking, North America. Having served with the company since ... Read the full article
HK’s Insurance Authority names new Chairman
21st December 2021
Hong Kong's Insurance Authority has appointed Stephen Yiu Kin-wah to succeed Moses Cheng Mo-chi as Chairman. Cheng, who departs after six years of service, expressed confidence that Yiu is well-positioned to assume the role of IA's Chairman. Yiu's appointment will be for a term of three years and is effective from December ... Read the full article
Nephila to launch new ILS investor-backed Lloyd’s syndicate
21st December 2021
Nephila Capital, the world’s largest insurance-linked securities (ILS) investment manager, has announced plans for its Lloyd’s specialty syndicate 2358, as the firm looks to provide investors with greater access to the wider specialty insurance market. Set to commence trading in the new year, syndicate 2358 will focus on short to medium ... Read the full article
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