Reinsurance News
AXA XL promotes Kendall to Strategic Partnerships manager, Design Professional
28th February 2022
AXA XL's Design Professional insurance business has promoted Michaela Kendall to the newly created role of Strategic Partnerships manager to oversee and strengthen key industry and market relationships. Kendall will be based in AXA XL's Atlanta office, and report to Douglas Strong, Chief Underwriting Officer, Design Professional. She will lead a team ... Read the full article
Descartes & Reask partner on AI-powered parametric cover
28th February 2022
Descartes Underwriting, a parametric-specialized provider of corporate insurance against nat cat and climate risks, has formed a new partnership with Reask, a tropical-cyclone risk analytics firm. The collaboration aim to expand parametric cyclone insurance into new locations by combining wind data from Reask with Descartes’ ability to incorporate new technology into ... Read the full article
Lloyd’s re/insurance market backs sanctions against Russia: report
28th February 2022
The specialist Lloyd's insurance and reinsurance marketplace has told The Straits Times that it is backing sanctions against Russia following its ongoing invasion of Ukraine. With Russia's invasion now on day five, western nations have announced a range of sanctions designed to damage the country's economy and cut it off from ... Read the full article
Everspan partners with auto insurer Branch
28th February 2022
Everspan Insurance has entered into a partnership with Branch Financial (Branch), an auto insurer, to help expand its product offerings in select states throughout the US. Since launching in 2019, Branch has expanded at an unprecedented speed while helping members save an average of $548 a year. Wyatt Blackburn, President of Everspan ... Read the full article
Jim O’Neill joins McGriff’s Executive Risk Advisors Group
28th February 2022
McGriff, an insurance broking subsidiary of the Truist Insurance Holdings group, has announced the appointment of Jim O’Neill as a Senior Vice President and New York City-based producer in the firm’s Executive Risk Advisors group. O’Neill joins McGriff with nearly 40 years of experience as an underwriter and broker working with ... Read the full article
Berkshire Hathaway P&C reinsurance returns to profit in 2021
26th February 2022
The property and casualty reinsurance business of Warren Buffett-run holding company Berkshire Hathaway returned to profit in 2021, delivering positive income on the back of a 95.1% combined ratio, despite the impacts of $2.1 billion of major catastrophe losses. A year ago, Berkshire Hathaway's P&C reinsurance division, which includes Gen Re, ... Read the full article
Elementum names Alaina Cubbon as VP, Portfolio Management
25th February 2022
Alternative investment manager Elementum, which specialises in collateralised natural catastrophe event reinsurance investments, has appointed Alaina Cubbon as Vice President, Portfolio Management. Within the company's Investment Team, Cubbon will focus on portfolio construction and underwriting for Elementum’s CRI-inclusive funds. She joins the firm from the ILS Investment Team at Hiscox in Bermuda ... Read the full article
Travelers acquires assets of insurtech Trōv
25th February 2022
US primary insurer Travelers has acquired assets of Trōv Technology, a provider a software designed to help brands deploy modern P&C insurance solutions in home, renters, auto, pet, small business and mobility. With this transaction, most members of Trōv's team have also joined Travelers, and will be positioned within Travelers' Personal ... Read the full article
Gallagher Re reshuffles Australia team with senior appointments
25th February 2022
Global reinsurance broker Gallagher Re has made changes within its Australia operations with a raft of new hires led by the appointment of a new Chief Executive Officer (CEO). Heather Bone has been appointed as CEO from March, where she will lead the company’s operations in the country, working closely with ... Read the full article
Verisk predicts Dudley and Eunice losses will fall between €3bn and €5bn
25th February 2022
The insured losses from Winter Storms Dudley/Ylenia and Eunice/Zeynep will fall somewhere between €3bn and €5bn, according to Verisk Extreme Event Solutions, with the majority of expected to be within Germany, the UK, and the Netherlands. According to the company, the industry loss estimates also reflect an adjustment to account for ... Read the full article
Lockton Re appoints new North American casualty facultative leader
25th February 2022
Lockton Re has appointed Craig Wadman as its new North American casualty facultative leader. In his new role, Wadman will report to Rob McNamara, North American facultative leader for the company. McNamara said: “We are continuing to bring in high-caliber hires, which will amplify and strengthen our facultative presence and capabilities in ... Read the full article
Insurers face exposure to Ukraine invasion in multiple areas: analysts
25th February 2022
The insurance industry is counting the cost of Russia’s invasion of Ukraine. According to multiple analysts, the market is exposed in a number of areas, including political risk insurance (PRI), aviation war, trade credit, and marine cargo/war. It is understood that the credit and energy insurance markets will also come under ... Read the full article
Universal improves full-year income despite heavy Q4 loss
25th February 2022
Florida headquartered and expansive primary insurance company, Universal Insurance Holdings, has reported a 17.3% increase in net income for 2021, despite suffering a heavy loss in the fourth quarter. Income for the full year was $28.4 million, compared with $24.2 million in the previous year, while the Q4 loss amounted to ... Read the full article
Aon appoints leaders for SSI practice in North America
25th February 2022
Re/insurance broker Aon has announced it has formalized its Strategic Solutions and Innovation (SSI) practice within Commercial Risk Solutions in North America, with Ward Ching and Michael Gruetzmacher set to spearhead the practice. Ching serves as Head of Strategic Solutions and Innovation and Gruetzmacher as Head of Alternative Risk Transfer and ... Read the full article
Munich Re Specialty names Sabrina Hart as President, Excess & Surplus
25th February 2022
Munich Re Specialty Insurance (MRSI), a division of German reinsurance giant Munich Re, has appointed Sabrina Hart as the company’s President of Excess & Surplus Lines. She joins MRSI following a 25-year career with a major global insurance carrier, the last seven years as Executive Vice President for the Midwest Region. In ... Read the full article
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