Reinsurance News
Generali severs Russia ties
4th March 2022
Generali is to close its Moscow office, resign its positions on the board of Ingosstrakh, and wind down its Europ Assistance business due to Russia’s invasion of Ukraine. In addition, the company said it was reviewing all its investment and insurance business in Russia and will comply fully with all applicable ... Read the full article
Berenberg says slow rises in interests rates best for insurers
4th March 2022
Insurers benefit most from a gradual rise in interest rates, according to a new note from Berenberg. The firm said that interest rate volatility has affected insurance stocks in the past, pointing oto the crash of October 1987 and an unexpected tightening by the Fed at the beginning of 1994. Despite ... Read the full article
Arch Insurance promotes Bonneau to Chief Reinsurance & Exposure Officer
4th March 2022
Arch Insurance International, part of insurer and reinsurer Arch Capital Group Ltd., has promoted Krista Bonneau to the role of Chief Reinsurance and Exposure Officer, effective immediately. In her new role, Bonneau takes on responsibility for developing and managing the firm's ceded reinsurance and exposure management function across its portfolio. She will ... Read the full article
KROSE launches reinsurance intermediary KROSE ReBrokers
4th March 2022
Facultative, treaty and structured reinsurance as well as in alternative risk transfer specialist KROSE GmbH (KROSE) has consolidated its reinsurance business by founding its own dedicated reinsurance broker, KROSE ReBrokers. The Bremen-based company is accelerating its specialisation and expansion activities into the reinsurance market, which already started out in the 1980s. KROSE ... Read the full article
One80 Intermediaries acquires ProSurance Group
4th March 2022
Specialty insurance broker One80 Intermediaries (One80) has acquired ProSurance Group (PSG), a managing general agent and program manager which focuses on professional lines coverage. PSG was founded over 20 years ago and specialises in underwriting and marketing professional lines insurance, while maintaining highly profitable programs with trusted carrier partners. The team provides ... Read the full article
Vantage Risk names José Miranda as Risk Analytics Lead
4th March 2022
Recently launched Bermudian reinsurer Vantage Risk has appointed José Miranda as Risk Analytics Lead, where he will continue to be based in Bermuda. Miranda joins from Hannover Re where he held the role of Senior Catastrophe Analyst for just over a year. Within that role he oversaw catastrophe models and internal quoting ... Read the full article
Catastrophe risk has a home at Lloyd’s, but more realistic loss picks required
3rd March 2022
Executives from the Lloyd's insurance and reinsurance marketplace have called on certain managing agents to "have more realistic catastrophe loss picks" in their plans as actual results have significantly fallen short over the last five years. After another $100 billion+ of insured nat cat losses in 2021, it's clear that catastrophes ... Read the full article
Fidelis joins Poseidon Principles for Marine Insurance
3rd March 2022
Specialty insurer and reinsurer Fidelis has become the latest company to join the Poseidon Principles for Marine Insurance, which sets a framework for responsible insurance practices in the maritime sector. As part of the shipping ecosystem, Fidelis believes that marine insurers have a part to play in promoting responsible environmental stewardship, ... Read the full article
Vesttoo appoints General Managers across Europe, South Korea, UAE
3rd March 2022
Vesttoo, an AI-based insurance-linked investment platform, has expanded its global leadership team to include key industry veterans who will manage the company’s offices in London, Seoul, as well as Dubai. The executives include the former CEO of Allianz Global Corporate and Specialty UK, former CEO of AIG Korea, and a former ... Read the full article
AMS names BMS’s Romulo Braga as CFO
3rd March 2022
AMS Management Group (AMS) has appointed Romulo Braga as Chief Financial Officer, where he will be responsible for scaling up enterprise growth through capital strategy optimisation, assisting with nationwide corporate development, and supervising operations and infrastructure investments. Braga brings over 20 years of insurance industry and capital markets experience, nine of ... Read the full article
Korean Re and Shinhan Life sign coinsurance agreement
3rd March 2022
Korean Re has entered into a coinsurance agreement with Shinhan Life. The agreement between the two firms will see Korean Re work with Shinhan Life to help the latter manage its assets and liabilities. According to Korean Re, it will lead to individual transactions collectively worth up to KRW 500 billion ($414m). Korean ... Read the full article
Average premium renewal rate change flat across Canadian market in Q4: Applied Systems
3rd March 2022
Applied Systems, a provider of insurance technology and software, has reported that year-on-year, the level of premium rate change in Canada's commercial insurance market was flat across all lines in the fourth quarter of 2021. The fourth quarter and full-year 2021 results of the Applied Commercial Index™, the Canadian insurance sector's ... Read the full article
DARAG acquires Guernsey based reinsurance captive
3rd March 2022
Legacy acquirer DARAG Group, has acquired a Guernsey based reinsurance captive which has been in run-off since 2019. The sale of the captive is part of a strategic realignment for its cedant owner, which is looking to tighten its business focus. Its key business lines are property damage, business interruption, and public ... Read the full article
Lloyd’s appoints new chief people officer
3rd March 2022
Lloyd’s has made Sara Gomez its new chief people officer. Gomez will move into the role after joining Lloyd’s in July 2021 and becoming Interim chief HR officer and a member of Lloyd’s executive committee in December 2021. As chief people officer, Lloyd’s said Gome will focus on developing Lloyd’s talent, ... Read the full article
SiriusPoint adds Jason Robart to Board
3rd March 2022
Global specialty insurer and reinsurer SiriusPoint has announced the appointment of Jason Robart to the SiriusPoint Board of Directors, as an Independent Director, effective 1 March 2022. Robart is the co-founder and managing partner of Seae Ventures, an early-stage venture capital firm focused on supporting women, and BIPOC healthcare and fintech ... Read the full article
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