Reinsurance News
Alesco DA makes two key hires
22nd March 2022
Binding authority broker Alesco DA has hired Paul Compton to be its new operations director, effective from 4 April. Compton will report to Donald Alcorn, managing director of Alesco DA, joining Simon Stovell who has joined the company as executive director for Americas. Alcorn, himself, was only appointed in his ... Read the full article
HDI Global Specialty appoints new manager of France branch
22nd March 2022
Industrial lines insurer HDI Global Specialty has announced that from April 1 and subject to the approval of the responsible regulatory authorities, Etienne de Varax will be taking over temporary management of their France branch. This comes after the company announced that Managing Director Florence Louppe has left the insurer to ... Read the full article
Alleghany a “perfect fit” for Berkshire Hathaway: ALIRT’s Paul
21st March 2022
David Paul, Principal at ALIRT Insurance Research, has argued that Alleghany Corporation is a “perfect fit” for the “growing insurance empire” of Warren Buffett’s Berkshire Hathaway. His comments follow news from earlier today when Berkshire Hathaway announced that it had acquired all outstanding Alleghany shares in an $11.6 billion transaction. The ... Read the full article
Sompo Intl. appoints head of global marine & energy, reinsurance
21st March 2022
Sompo International business has added Christian Silies as the head of global marine and energy in its reinsurance business. Silies will be based in Zurich and will report directly to Christopher Donelan, CEO of global reinsurance. Donelan said in a statement: “With a proven track record of successfully building out global marine ... Read the full article
Cargo underwriters ditching Russian & Ukrainian cover
21st March 2022
A number of cargo underwriters are moving to cancel and avoid coverage on Russian exports and consignments coming into both Russia and Ukraine, according to reports from Lloyd’s List. Sources at the publication say underwriters are concerned about reputational risks and potential difficulties in paying out on insured claims. As such, the ... Read the full article
Verisk meets investor pressure with insurance focus, new directors
21st March 2022
Verisk has responded to demands from activist investors by agreeing to reposition itself as a pure-play insurance focused business and seek further margin expansion, while also nominating three new independent directors for election to its board. Last week, a letter was sent to Verisk’s Board of Directors on behalf of ... Read the full article
RenRe makes new appointment
21st March 2022
Bermuda-based RenaissanceRe has appointed a new SVP underwriting, global head of climate and sustainability strategy in Cathal Carr. Carr has been with RenaissanceRe for over seventeen years, beginning as a risk analyst in 2005. He has held a multitude of positions since then, including his most recent as SVP underwriting, global head ... Read the full article
Cat loss experience remained significant in 2021: AM Best
21st March 2022
According to analysts at AM Best, the global insurance-linked securities (ILS) market remains saddled with prior catastrophe losses, a decline in assets under management for some prominent ILS funds and a drop in the overall performance of ILS funds despite another year of a record catastrophe bond issuance. The analysts noted ... Read the full article
Russian sanctions threaten historic aviation insurance loss: analysts
21st March 2022
Following Russia’s move to nationalise jets stranded in the wake of Western sanctions, analysts and industry leaders have warned that the aviation insurance market could be facing a historic loss. More than 500 Western-built aircraft worth roughly $10 billion are thought to be grounded in Russia, as authorities in the country ... Read the full article
Layr raises $10mn in Series A funding round
21st March 2022
Insurtech startup Layr has raised $10 million in Series A funding round, which was led by HSCM Ventures, with participation from MGV, Sandbox Industries, Flyover Capital, and Hannover Digital Investments. The funding will go towards the expansion of Layr’s team and grow its footprint amongst insurance agents and brokers while adding ... Read the full article
TigerRisk makes two senior appointments
21st March 2022
TigerRisk Partners has made two new senior appointments. According to a LinkedIn post from the company, the firm has hired James Loggie, who will join the global trade credit, surety and political risk business, and become a partner. TigerRisk has also appointed Joel Hodges to be both partner and head of ... Read the full article
Markel Intl. adds three to wholesale claims team
21st March 2022
Markel International has appointed Alia Bamrah, Keifer Edmonds, and Tony Halling as senior claims adjusters, adding further experience and technical expertise to the wholesale claims team, as it continues evolving its services for clients. All three appointments will be based in the company’s London office, holding the responsibility for day-to-day claims ... Read the full article
New earthquake bill to be introduced in New Zealand
21st March 2022
The government of New Zealand has introduced a bill to make the claims process following a natural disaster easier. The Natural Hazards Insurance Bill will reportedly make the the rules for mixed and multi-use buildings clearer, clarify regulations relating to repairing buildings and land following a landslip or other land damage, ... Read the full article
ICA reports slowdown in number of claims made due to Australian flooding
21st March 2022
Australian insurers have received 153,769 claims related to the flooding in the country’s Queensland and New South Wales areas, a number that the Insurance Council of Australia (ICA) has said has increased by 2% since Friday. The ICA also said that the current estimated cost of claims is now $2.307bn. The ... Read the full article
Berkshire Hathaway to acquire Alleghany for $11.6bn
21st March 2022
Warren Buffett's insurance and reinsurance firm, Berkshire Hathaway, has reached an agreement to acquire all of the outstanding shares of Alleghany Corporation in an $11.6 billion transaction. A definitive agreement between the pair sees Berkshire acquire all outstanding Alleghany shares for $848.02 in cash. The deal has been unanimously approved by both ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
