Reinsurance News
Beazley achieves 30% growth in GWP for 2021
10th February 2022
Specialist insurer Beazley has achieved double-digit premium growth, with gross written premiums (GWP) up by 30% to $4,618.9 million for the fourth year in a row, surpassing 2020, when the company reported $3,563.8m in GWP. The insurer also reported an improved combined ratio of 93% compared to 109%, which was reported ... Read the full article
Arch’s reinsurance segment reports solid fourth-quarter underwriting gain
10th February 2022
Bermudian carrier Arch Capital Group has reported a much-improved performance across its insurance and reinsurance operations during the fourth quarter of 2021, helping the firm generate a combined ratio of 77.6% for the period. Across the group, gross premiums written (GPW) increased by almost 27%, year-on-year, to $2.9 billion, as net ... Read the full article
Munich Re backs $15m funding round for FloodFlash
10th February 2022
Parametric insurtech firm FloodFlash has secured $15 million in a Series A round of funding that was led by Chicago-based Buoyant Ventures with Munich Re Ventures also featuring as an investor. Sony Financial Ventures/Global Brain, MS&AD Ventures and PropTech1 all participated in the round alongside existing investors Pentech, Local Globe and ... Read the full article
Kuvare launches third-party asset management business
10th February 2022
Kuvare Insurance Services (KIS) has launched its third-party asset management business, as part of the company’s expansion across private asset-backed and structured credit, private corporates, and commercial mortgage debt to non-affiliated insurance clients. Over the past two years KIS has built its team of insurance industry professionals and asset class specialists ... Read the full article
Everest Re strengthens combined ratio as GWP rises 25%
10th February 2022
Bermuda-based Everest Re has reported underwriting income of $228 million for the fourth quarter of 2021, alongside a 25% rise in gross written premiums (GWP) across the Group driven by growth in both its insurance and reinsurance segments. In the quarter, Everest Re achieved a solid underwriting gain in spite of ... Read the full article
Kilter Finance agrees to invest $40mn into Best Practices Medical Partners
10th February 2022
Kilter Finance has agreed to invest $40 million into Best Practices Medical Partners (BPMP), who will use the funding to make a planned capital contribution to its risk retention group, Applied Medico-Legal Solutions Risk Retention Group (AMS RRG). The investment proceeds will be used by BPMP to increase the statutory surplus ... Read the full article
Re/insurance pricing to remain ahead of loss cost inflation: JP Morgan
9th February 2022
Analysts at JP Morgan remain confident that the overall P&C pricing environment should remain positive for P&C (re)insurers in 2022, providing attractive growth opportunities and remaining ahead of loss cost inflation. In particular, reinsurance pricing should be buoyed by another year of substantial losses and continued weak sub-sector ROE, JP Morgan ... Read the full article
New Dawn Risk Group makes two appointments
9th February 2022
New Dawn Risk Group has made two new appointments. An announcement from the company reveals that Sarah Khan has been appointed as head of professional risks, while Francesca Vernon will become head of the new Healthcare and Life Sciences team. Max Carter, CEO of New Dawn Risk Group, said: “As we continue ... Read the full article
Descartes hires Beeg as Business Development Manager, NA
9th February 2022
Descartes Underwriting, an insurtech company specializing in corporate insurance solutions to address climate and emerging risks, has announced the appointment of Brendan Beeg as Business Development Manager for North America. Based in Denver, Colorado, Beeg’s responsibilities will include all aspects of sales and distribution management, as well as strategy for brokers ... Read the full article
ARPC successfully renews $3.475bn terrorism retro program for 2022
9th February 2022
The Australian Reinsurance Pool Corporation (ARPC), which administers the country's terrorism insurance scheme, has renewed its $3.475 billion retrocession program for 2022 at the same price as the previous year. Combined with ARPC's net assets and the $10 billion Commonwealth guarantee, the renewal of the retro program provides scheme capacity of ... Read the full article
Markel International announces renewables reinsurance partnership with AEGIS
9th February 2022
Markel International and Associated Electric and Gas Insurance Services (AEGIS) are teaming up to provide expanded reinsurance capacity for onshore renewable energy projects. Under the deal, Markel International will provide up to $75m in capacity behind AEGIS for its policyholders’ renewable risks. The reinsurance support provided by Markel will also allow AEGIS ... Read the full article
Moody’s predicts rate increases in April and July
9th February 2022
Moody’s has indicated that the insurance sector should be prepared for ‘broad-based price increases’ when renewals begin in April and July. According to a note from the agency, the extent of price increases will depend on the balance of the supply of capacity alongside the demand for reinsurance coverage. All in all, ... Read the full article
SiriusPoint recruits Zurich’s Price as Head of Travel for A&H
9th February 2022
Global specialty insurer and reinsure SiriusPoint has announced the appointment of Christopher Price as Head of Travel for Accident & Health (A&H). Based in London, Price joins the company from Zurich Insurance Group, where he was most recently Head of Travel & Accident (EMEA). He has previously held senior positions with ACE, ... Read the full article
Vesttoo & Corinthian Re launch non-catastrophe insurance investment-grade fund
9th February 2022
Alternative Reinsurance and Investment platform, Vesttoo, has partnered with Corinthian Re to launch VESCOR, which will offer the world's first non-catastrophe insurance investment-grade feeder fund. The new strategic partnership has been designed to offer institutional investors rated notes securitising "dozens" of underlying property and casualty (P&C) reinsurance transactions. The pair explained that ... Read the full article
BHSI names Janine McGriskin as Head of Financial Institutions, UK
9th February 2022
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Janine McGriskin to Head of Financial Institutions, UK, having previously been Senior Underwriter, UK Financial Institutions, at BHSI. McGriskin will continue to be based in the company's London office, and holds just under 20 years of Executive & Professional Lines underwriting experience, with a ... Read the full article
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