Reinsurance News
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
LSM names Paul Beattie as Global Head of War and Terrorism
9th February 2022
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Paul Beattie as Global Head of War and Terrorism within its London Specialty Business. Beattie is based in London and takes up the role with immediate effect, whilst continuing with his existing role, Head of Underwriting, Marine Niche Products. This ... Read the full article
SCOR Investment Partners exceeds $3bn in ILS assets
9th February 2022
French reinsurer SCOR's asset management company, SCOR Investment Partners, has exceeded $3 billion in Insurance linked Securities (ILS) assets under management at the end of 2021. The amount was mainly driven by the inflows into its two flagship funds, Atropos and Atropos Catbond, launched in 2011 and 2013 respectively. Last year, Atropos' ... Read the full article
Shyam Gidumal to Join RenRe Board of Directors
9th February 2022
RenaissanceRe Holdings has announced that Shyam Gidumal has been nominated to stand for election as an independent director of the Company at its Annual General Meeting of Shareholders in May. Gidumal, the company said, has over 35 years of experience in operational leadership, digital transformation, and strategy development as a senior ... Read the full article
Tysers appoints James Lucas as associate director
9th February 2022
Broker firm Tysers has appointed James Lucas to be its associate director in its political violence and terrorism team. Lucas will join from Aon Benfield where he is responsible for developing the Latin America and EMEA Terrorism and Political Violence solutions across Aon’s network. Jason Collins, co-head of global broking, markets and ... Read the full article
Topsail Re raises an additional $50m for growth
9th February 2022
Topsail Re, a Cayman Islands domiciled reinsurer, has raised an additional $50 million of equity capital from its existing shareholders, as the company eyes further growth. Launched in late 2018 ahead of the January 1st, 2019, reinsurance renewals, Topsail Re currently underwrites more than $500 million of property and casualty ... Read the full article
White Mountains falls to full-year loss despite “light” Q4 cats
9th February 2022
Bermuda-domiciled financial services holding company White Mountains has posted comprehensive income of $34 million for the fourth quarter of 2021, and a loss of $273 million for the full-year. Both figures were well below the $495 million and $716 million of comprehensive income that the company reported in the same respective ... Read the full article
Argo’s Q4 result to include adverse reserve development & non-operating charges
9th February 2022
Bermuda-based property and casualty insurer, Argo Group International Holdings, Ltd., has reported that its fourth quarter 2021 financial results will include up to $140 million of net adverse prior year reserve development, and also some non-operating charges. Argo has pre-announced a number of negative impacts ahead of the release of its ... Read the full article
Fermat Capital Management adopts CyberCube software
9th February 2022
Fermat Capital Management, the specialist insurance-linked securities (ILS) investment manager, has licensed CyberCube’s Portfolio Manager software. The deal will see Fermat begin to use the application, which helps risk carriers financial stress portfolios against a range of cyber-related scenarios such as ransomware attacks or outages. Joanna Syroka, senior underwriter and director of ... Read the full article
Neptune Flood writes its 100,000th policy
9th February 2022
Neptune Flood has announced it has written its 100,000th policy. The flood insurer, which opened for business in 2018, said it has now expanded its reach to 48 states, plus Washington DC with its residential, commercial, and condominium flood insurance products. Jean-Luc Eckstein, chief customer officer for Neptune Flood, said that the ... Read the full article
SCOR’s lower cat exposure driven by climate change not retro pricing, says Conoscente
8th February 2022
The 11% reduction of catastrophe exposures on SCOR's P&C in-force portfolio for 2022 was driven by the reinsurer's adjusted view of risk due to climate change, as the price rises achieved on the cat portfolio offset higher retrocession rates, according to Jean-Paul Conoscente, Chief Executive Officer (CEO) of SCOR Global ... Read the full article
Mosaic “focused on the future” after successful first year
8th February 2022
Mosaic Insurance has completed its first year in business, securing Lloyd’s approvals, enabling worldwide licenses and financial-strength ratings, including A+ rating from Standard & Poor's, A from AM Best, and AA- from Fitch Ratings. Within this time, the company has also expanded through its strategic technology and capital partnerships, and has launched ... Read the full article
Reinsurance Group of America declares Covid impact ‘manageable’
8th February 2022
Reinsurance Group of America has deemed the impacts of the Covid-19 pandemic on its latest Q4 and full-year results to be ‘manageable’. Speaking in an earnings call, Todd Larson, the organisation’s senior executive vice president and CFO, said that its ‘well-diversified global, strong balance sheet, and underlying earnings power positions’ would ... Read the full article
QBE names Kevin Shallow as Director of Underwriting, Marine
8th February 2022
QBE has appointed Kevin Shallow as Director of Underwriting and Product Head for Marine, succeeding Tim Pembroke who will be retiring on 31 March after nearly 38 years in the marine insurance industry, including over 24 years with QBE. Shallow is currently a Portfolio Manager within the marine division, and joined ... Read the full article
WTW reports 6% organic revenue growth for 2021
8th February 2022
Re/insurance broker WTW has reported organic revenue growth of 4% in the fourth quarter of 2021 and 6% for the full year, boosted by positive organic results within its Investment, Risk & Reinsurance (IRR) segment. The IRR segment posted huge organic change of 32% for the quarter and 16% for the ... 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.
