Reinsurance News
Swiss Re’s Magnum Go receives Digital Trust Label
18th January 2022
Swiss Re’s Magnum Go, an automated underwriting engine designed for life insurance, has been certified with the Digital Trust Label (DTL). Done through the Swiss Digital Initiative (SDI), the DTL designed to help users identify trustworthy digital certificates. Moses Ojeisekhoba, CEO Reinsurance of Swiss Re, said: “We strongly believe in digital responsibility ... Read the full article
LMG welcomes inquiry into UK’s commercial re/insurance market
18th January 2022
The London Market Group has welcomed The House of Lords Industry and Regulators Committee’s inquiry into the regulation of the London insurance market, which was announced recently. The inquiry is to “explore the extent to which regulatory policy is well-designed and proportionately applied and the possibilities for optimising policy following ... Read the full article
Canopius names Trevor Moss as Head of Investor Relations
18th January 2022
Global specialty insurer and reinsurer, Canopius Group, has hired Trevor Moss from Agency Partners as Head of Investor Relations, effective March 2022. In his new role, Moss will work with investors, analysts and banks to offer the firm an 'outside-in' perspective of its market, as part of the re/insurer's continued investigation ... Read the full article
Ardonagh Specialty grows cross class follow capacity solution
18th January 2022
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist, reinsurance and wholesale broking brands, has further expanded its cross-class follow-capacity solution to include Price Forbes’ property business. The cross class follow capacity solution was launched in partnership with Beazley back in April 2021 for ... Read the full article
MGA Aqueous adds trio to underwriting team
18th January 2022
Specialist MGA Aqueous Underwriting has expanded its underwriting team with the addition of three new hires. Senior Underwriter Louise Redmond and Underwriter Debbie Farman join the MGA’s PI team, whilst Trading Underwriter Liam Wilson joins its e-trade team specialising in SME Package business. Redmond has over 20 years’ market experience and joins ... Read the full article
Willkie Farr & Gallagher names partners for Transactional and Regulatory Practice
18th January 2022
Willkie Farr & Gallagher has announced that Melanie James and Tim Baumgartner have joined the firm’s Insurance Transactional and Regulatory Practice as partners. Both appointments will be based in Willkie’s London office, having previously been partners at an international law firm, where James also served as Global Co-Chair, Insurance Sector. James brings ... Read the full article
MAPFRE reports reinsurance growth
18th January 2022
Spanish insurer MAPFRE has released a breakdown of the growth in its written premiums between December 2020 and December 2021, revealing that its reinsurance business grew by 12.8% in this time. The latest results follow the company’s reporting in October that its reinsurance business had grown 14.5% in the first ... Read the full article
Brit bolsters Property Facilities team
18th January 2022
Specialty insurer Brit has added Joanne Allen and Thomas Poynder to its Property Facilities team, effective early January 2022. Allen joins Brit as Flood Class Underwriter, reporting to Sarah Mendola, Divisional Director. Poynder joins as Underwriter for Transportation, reporting into David Perkins, Class Underwriter, Transportation. Joining from Argo Global, Allen has more ... Read the full article
Pool Re investing into research on systemic risks
18th January 2022
Pool Re will be one of the investors in a new research consortium aimed at protecting society from future systemic risks. The consortium, which will be led by the Cambridge Centre for Risk Studies, along with the University of Cambridge’s Judge Business School will "support the creation and extension of private-public ... Read the full article
Peter Child named CEO of SRS Europe
18th January 2022
Strategic Risk Solutions (SRS) has announced the appointment of Peter Child as Chief Executive Officer (CEO) of its European operation, effective January 1st, 2022. Child will also retain his current role as Managing Director of SRS Guernsey. In his new role, he takes on responsibility for continuing to grow SRS' presence ... Read the full article
Cyber the top concern for businesses in 2022: Allianz
18th January 2022
Cyber perils are viewed as the top concern for businesses globally in 2022, as natural catastrophe and climate change risks climb the rankings of the latest Allianz Risk Barometer. With 44% of respondents citing cyber incidents as their biggest concern, largely driven by the threat of ransomware attacks, the peril claimed ... Read the full article
Richard Pike to join Howden Re as Executive Director, Treaty Reinsurance
18th January 2022
Richard Pike, currently of Berkley Re, is set to join reinsurance broker Howden Re in April as Executive Director, Treaty Reinsurance, based in Sydney. In his new role, which he takes on following his contractual obligations, Pike will report to Stephen Warwick, Head of Treaty for Asia Pacific. At Howden Re, Pike ... Read the full article
Reinsurance pricing to remain firm, but no acceleration likely: JMP Securities
17th January 2022
Analysts at JMP Securities expect property reinsurance pricing to remain firm as the market progresses through 2022, but warn that rates will not materially accelerate from current levels without additional significant loss events. The recently completed January 1 renewal saw continued upward movement in pricing, with some business seeing the strongest ... Read the full article
Parliament launches inquiry into UK’s commercial re/insurance market
17th January 2022
The regulation of the UK's commercial insurance and reinsurance market is the subject of an inquiry by the House of Lords Industry and Regulators Committee. The Committee has published a call for evidence for its inquiry into the London Market, which is focused on commercial and wholesale speciality risks. The purpose of ... Read the full article
Intact Financial estimates Q4 cat losses at $186m
17th January 2022
Toronto-based property and casualty (P&C) insurer Intact Financial Corporation has announced that its estimated catastrophe losses for the fourth quarter of 2021 are $186 million, pre-tax. Approximately 55% of the catastrophe losses were recorded in the company’s Canada segment, with half in personal property. This mostly reflected the impact of floods in ... Read the full article
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