Reinsurance News
Liberty Mutual names Damon Hart as EVP
14th December 2021
Liberty Mutual Insurance has appointed Damon Hart as Executive Vice President and Chief Legal Officer. Hart succeeds Jim Kelleher, who announced he will retire at the end of this year. Previously, Hart was promoted to Deputy Chief Legal Officer in 2020 and prior to this, served as Senior Vice President and ... Read the full article
Alastair Swift named LIIBA representative on LMG board
14th December 2021
The London Market Group has announced that Alastair Swift, Head of Corporate Risk & Broking at GB Willis Towers Watson, has joined its board. Swift will be one of the elected board members chosen to represent LIIBA (the London and International Insurance Brokers’ Association) on the LMG Board. “Alastair Swift brings a ... Read the full article
Execs see positives in late renewals as market discipline persists: KBW
14th December 2021
After recent meetings with insurance and reinsurance company executives, analysts at KBW have highlighted how the late January 1st, 2022, renewals season could be positive. According to one executive, the late reinsurance renewal season is positive as in general, brokers look to place highest-quality accounts first in order to set the ... Read the full article
Re/insured losses from catastrophes to hit $112bn in 2021, says Swiss Re
14th December 2021
Swiss Re has estimated that insurance and reinsurance industry losses from natural catastrophe events in 2021 has increased to $105 billion, with man-made disasters resulting in an additional $7 billion of losses. According to Swiss Re Institute's preliminary sigma estimates, this is the fourth highest annual insured loss bill from nat ... Read the full article
Brit partners with Lloyd’s to pilot continuous contracts for coverholders
14th December 2021
Brit Ltd (Brit) has piloted the first continuous binder at Lloyd’s, which is planned to launch in January 2022. The new forms of contract aim to improve efficiencies by replacing the traditional annual renewal cycle, which can often be time and labour intensive and result in capacity being confirmed weeks or ... Read the full article
Reinsurer data capabilities provide edge amid ESG integration: Jefferies
14th December 2021
Analysts at Jefferies have suggested that reinsurers’ data capabilities should provide them with a pricing advantage as environmental, social and governance (ESG) considerations are increasingly integrated into the insurance sector. The firm believes that climate change presents both significant opportunities and risks for the non-life insurance industry, although it says many ... Read the full article
WTW hires Tim Rourke as UK Head of P&C Pricing, Product, Claims and Underwriting
14th December 2021
Willis Towers Watson has appointed Tim Rourke as the new UK Head of P&C Pricing, Product, Claims and Underwriting in the company’s Insurance Consulting and Technology business. He succeeds Graham Wright in this role, who is taking on a new challenge outside of the company. Rourke most recently served as Head of ... Read the full article
Tysers adds Lee Jenkins to Bloodstock team
14th December 2021
Lloyd’s broker Tysers has announced the addition of Lee Jenkins as a Director within its Bloodstock team. In this role, Jenkins will focus on developing new market opportunities and identifying areas for business growth. This appointment is the latest in a string of senior hires across Tysers in broking, claims and operations ... Read the full article
Parthenon Capital to acquire majority stake in KBRA
13th December 2021
Kroll Bond Rating Agency (KBRA) has entered a deal with private equity firm Parthenon Capital Partners who will acquire a majority stake in the company. KBRA currently holds over 400 employees across its five offices in the U.S. and Europe. The company has issued over 51,000 ratings with nearly $3 trillion in ... Read the full article
Argenta pegs industry hit from US tornados as high as $7bn
13th December 2021
Lloyd's managing agent Argenta says the freak tornado outbreak which devastated multiple US states over the weekend could drive industry losses as high as $7 billion. Mayfield, Kentucky Analysts believe the most suitable comparison to a past event is a derecho that hit Iowa in 2020. A derecho is essentially an ... Read the full article
RLI corp announces two senior promotions
13th December 2021
US property and casualty insurer RLI Corp. has announced the promotion of Brian Schick to the new role of Vice President, Surety and Thomas Ward to the role of Assistant Vice President, Risk Services. In Schick’s new role, he will have executive leadership and oversight responsibility for RLI’s Contract, Miscellaneous and ... Read the full article
Carbon Underwriting names Kirsty Coates as Claims Manager
13th December 2021
Independent managing general underwriter (MGU) and Lloyd’s syndicate, Carbon Underwriting, has appointed Kirsty Coates as Claims Manager. In her new role, Coates will be responsible for managing Carbon’s portfolio of claims, providing specialist knowledge and insights to ensure that the best outcomes are achieved consistently and efficiently for policyholders at all ... Read the full article
Alliant names Doug Bixby as SVP
13th December 2021
Alliant Insurance Services, the specialty insurance brokerage firm, has announced that Doug Bixby has joined the company as Senior Vice President. In this role, Bixby will focus on providing management professional lines including product liability and clinical trials liability within the Healthcare, Life Sciences and FinTech sectors. Bixby started his career at ... Read the full article
Natural infrastructure projects reduce wildfire losses: Marsh McLennon
13th December 2021
Marsh McLennan, in partnership with The Nature Conservancy in California has released new research that demonstrates the financial benefits that accompany nature-based approaches to wildfire risk reduction. The report uses the 2018 Camp Fire in California as a case study, and shows that community-encircling wildfire buffers of land managed for fire ... Read the full article
Coalition launches cyber-focused Captive
13th December 2021
Commercial lines insurtech Coalition is set to launch a new captive targeting risk on its cyber programs. It's hoped this Captive will enhance Coalition's ability to manage capacity and its long-term growth objectives, whilst also aligning incentives with its customers. The firm's technology-driven approach is eyeing a new, more successful model of ... Read the full article
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