Reinsurance News
BMS to act as ACIN’s silver sponsor
1st March 2022
Independent re/insurance broker BMS has partnered with African Caribbean Insurance Network (ACIN), acting as a 2022 silver sponsor, whilst collaborating with them on achieving their objectives and driving their strategic vision. The ACIN was formed in 2018 and was created to help boost black and minority ethnic representation within the insurance ... Read the full article
Lloyd’s appoints special adviser to Burkhard Keese
1st March 2022
Lloyd’s has made Des Potter its special adviser to CFO and COO Burkhard Keese. Potter, in his new role, will be working on enhancing Lloyd’s capital framework and the instruments available to investors to support underwriting. Keese said: “I am delighted that Des joins us to strengthen our position as a credible ... Read the full article
Middle market labour shortage among other business challenges: Chubb
1st March 2022
According to new data from Chubb and the National Center for the Middle Market's (NCMM) 2021 Year-End Middle Market Indicator, 35% of middle market firms rank increased risks among the top three most difficult aspects of running their business in the current environment. Ben Rockwell, Division President, Chubb Middle Market explained: ... Read the full article
WTW Singapore makes two senior appointments
1st March 2022
WTW has appointed Choo Oi San as Singapore Country Leader, and Ludan Wang as Head of Corporate Risk and Broking (CRB) for Singapore. Oi San will hold dual capacity, combining her new role with her current position as Division Leader for South Asia and Emerging Markets, Insurance Consulting and Technology business. In ... Read the full article
DARAG names Andrew Pryde as CRO
1st March 2022
Legacy acquirer DARAG Group has appointed Andrew Pryde to the new role of Chief Risk Officer, where he will report to the group's Chief Executive Officer, Tom Booth. Pryde joins from Beazley, where he held the CRO role for more than ten years, and brings valuable experience of implementing leading edge ... Read the full article
James River & Fortitude Re enter into $335m LPT retro agreement
1st March 2022
JRG Reinsurance Company Ltd. (JRG Re), a primary operating subsidiary of James River Group Holdings, Ltd., has entered into a $335 million loss portfolio transfer retrocession agreement with Fortitude Reinsurance Company Ltd. Under the terms of the agreement, Fortitude Re will reinsure the majority of the reserves from the firm's casualty ... Read the full article
Reinsurance set to be triggered as Australia flood claims rise
1st March 2022
As insurance claims related to the ongoing flooding in Southeast Queensland and the New South Wales coast continue to rise, a number of insurers have already warned that the event is expected to trigger their reinsurance protection. The latest data from the Insurance Council of Australia (ICA) reveals that insurers have ... Read the full article
Euler Hermes binds first policy on Dialogue platform
1st March 2022
Independent complex risks platform Dialogue Exchange Global (Dialogue) has announced that Euler Hermes, has bound its first policy on Dialogue’s electronic placing platform, arranged by specialist independent broker, Cofarco. The policy is the first excess-of-loss structure to be placed on the Dialogue platform. Dialogue received accreditation as a recognised Lloyd’s e-placement ... Read the full article
Applied Underwriters acquires Catlin Specialty Insurance Company
1st March 2022
Applied Underwriters is to acquire Catlin Specialty Insurance Company, according to a statement from the former. The deal will see Applied Underwriters purchase the firm from AXA XL and consolidate it within its North American Casualty group of companies. The transaction is set to close in the year’s second quarter after ... Read the full article
Club Vita consolidates UK, US and Canadian ops, forms independent business
1st March 2022
Longevity analytics firm Club Vita has consolidated its operations in the UK, US and Canada under a sole parent company, Club Vita LLP. This merger transfers three separate Club Vita businesses from founders Hymans and Eckler to operate as an independent business. The company uses ZIP codes and other characteristics of the ... Read the full article
Aon hit by cyber attack
28th February 2022
Global insurance and reinsurance broker Aon was hit by a cyber attack on February 25th, 2022, according to an 8-K filed with the Securities and Exchange Commission (SEC) in the U.S. In its filing, Aon states that it identified a cyber incident impacting a limited number of systems. In response, Aon promptly ... Read the full article
Now is a good time for pension schemes to begin their de-risking journey: Prudential Retirement Strategies’ Mathur
28th February 2022
Activity in the pension risk transfer (PRT) market has been robust, and with ample capacity and support from the re/insurance community persisting, alongside attractive pricing, it’s a great time for pension schemes to begin their de-risking journey, according to Rohit Mathur, Head of International Reinsurance at Prudential Retirement Strategies. After a ... Read the full article
European insurers see adaptation as vital as IPCC warns of irreversible climate impacts
28th February 2022
As the Intergovernmental Panel on Climate Change (IPCC) releases its latest report, insurers and reinsurers across Europe agree that adaptation is vital to ensure climate resilience, reports Insurance Europe. The European insurance and reinsurance federation, Insurance Europe, "fully supports the need for a very strong focus on adaptation, as suggested by ... Read the full article
MAPFRE launches new insurtech scale-up program
28th February 2022
MAPFRE has launched a new scale-up program for insurtechs that offers up to €100,000 of financing per project, focusing on health and wellness, climate risks, and cybersecurity for SMEs. This version of insur_space is MAPFRE’s fourth to date, and is aimed at early-stage or growth companies that already have a product ... Read the full article
Arch Insurance names Joe Morrello as SVP
28th February 2022
Arch Insurance, part of Arch Capital Group, has appointed Joe Morrello as Senior Vice President, E&S Property where he will oversee the expansion of Arch E&S Property through the company’s strong relationships with its broker partners and our decisions based on advanced analytics. Morrello is a seasoned property professional with years ... 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.
