Reinsurance News
US P&C insurers to generate steady earnings in 2022: Fitch
9th December 2021
According to Fitch Ratings, US property & casualty (P&C) insurers are in a position to generate statutory underwriting profits and steady earnings next year, despite challenges from higher inflation and a likely reduction in contributions from investment gains. Fitch holds a neutral fundamental sector outlook for the US P&C sector for ... Read the full article
IQUW appoints Rene Lamer to Bermuda-based MD role
9th December 2021
IQUW has announced he appointment of Rene Lamer to the firm’s Bermuda office as Managing Director – Underwriting and Operations. He joins the company to help build out the underwriting and operational capabilities of the region's new platform. Lamer reports to Stephen Young, who recently joined as Head of Reinsurance and CEO Bermuda.Read the full article
Nature-based carbon a $1.3bn opportunity for re/insurers: report
9th December 2021
A new report by carbon market experts, BeZero Carbon, in partnership with international insurance broker, Howden, and UK insurance broker Blackford, has outlined the significant opportunity the re/insurance industry could play in securitising the nature-based carbon market and unlocking the capital needed to scale it. The report estimates that the voluntary ... Read the full article
BMS acquires reinsurance broker PWS Mexico
9th December 2021
Independent broking specialist BMS Group has announced further expansion plans in Latin America, having agreed to acquire PWS Mexico, a Mexico City-based specialist reinsurance broker. PWS Mexico was founded in 2000 and provides broking services to a range of Mexican clients, largely in Engineering, Energy, Property & Casualty and Specie, with ... Read the full article
Canada’s CPPIB pension to sell Ascot & Wilton Re stakes: Report
9th December 2021
According to a report, one of the larger pension investors that has a specialism in insurance and reinsurance markets, the Canada Pension Plan Investment Board (CPP Investments), is looking to sell two of its key investments in the space, Wilton Re and Ascot Group. Reuters has reported that the move marks ... Read the full article
Digital disruption to accelerate in 2022: Clyde & Co
8th December 2021
Analysts at Clyde & Co are anticipating that investment in technology will ramp up in the coming year, with potential ramifications for every aspect of insurance companies’ operations, from internal processes to the products and solutions they deliver to customers. The global COVID-19 pandemic has already accelerated the push to digitisation ... Read the full article
Malene Insurance Brokers becomes Howden Takaful Brokers
8th December 2021
Howden, the international insurance broker, has announced that following its merger with Malene Insurance Brokers in February 2019, Malene will operate as Howden Takaful Brokers, a fully dedicated Takaful specialist. Howden says the rebrand reinforces its commitment to respond to the growing demand for Islamic driven solutions and providing a strong ... Read the full article
Sampo acquires full ownership of Hastings
8th December 2021
Sampo has signed an agreement with Rand Merchant Investment Holdings (RMI) to acquire full ownership of UK insurer Hastings. Under the terms of the agreement, Sampo will pay GBP 685 million for RMI’s 30 per cent minority interest in Hastings and the option held by RMI to acquire 10 per cent ... Read the full article
Argenta exits Lloyd’s China platform
8th December 2021
Argenta Syndicate Management Limited (ASML), a subsidiary of the broader group, is to cease underwriting all new and renewal business relating to the Lloyd’s China platform (LICCL). This decision is effective immediately. ASML says it will work with LICCL to continue servicing existing business, and ensure that the run-off is conducted in ... Read the full article
WTW names new Director of Strategic Growth
8th December 2021
Willis Towers Watson (WTW) has appointed Kishan Dasan as Director of Strategic Growth, Construction and Natural Resources Australasia. Dasan will be based in Melbourne and joins WTW from AIG where he was Head of Construction Asia Pacific. This is a new role created to meet a key need within the construction and ... Read the full article
AM Best maintains stable outlook on global reinsurance amid positive pricing momentum
8th December 2021
Heightened demand for protection, continued positive price momentum and a disciplined underwriting environment has seen ratings agency A.M. Best maintain its stable outlook on the global reinsurance industry. AM Best's latest reinsurance market segment report highlights some positive and negative factors for the sector as the new year edges closer. Underpinning the ... Read the full article
Marsh makes senior FINPRO Specialty appointments
8th December 2021
Insurance broker and risk advisor Marsh has announced several senior leadership appointments within its Financial and Professional (FINPRO) Specialty. Effective 1 January 2022, Paul Denny is appointed as Global Specialty Head, FINPRO, Marsh Specialty. Additionally, Beth Thurston has been appointed UK CEO of FINPRO business, and Stephanie Manson as UK Management Liability ... Read the full article
Hiscox to expand RMS partnership
8th December 2021
Specialist global insurer Hiscox is working with RMS on extending and increasing use of the cat modeller's Location Intelligence API technology. The tech is designed to improve customer experience on a coverholder level, while also providing market-leading modelling data to enable high-resolution, location-level hazard, risk, and loss metrics. RMS Location Intelligence also ... Read the full article
Mercer forecasts £60bn of UK pension risk transfer activity in 2022
8th December 2021
Mercer has predicted combined bulk annuities, longevity swaps and new risk transfer solutions to reach £60 billion during 2022. This growth is attributed to a variety of factors, including pent-up demand and better affordability following significant improvements to funding levels of defined benefit (DB) pension schemes in 2021. Innovation in ... Read the full article
WTW secures placement of London Stock Exchange’s first SPAC
8th December 2021
Global broker Willis Towers Watson has secured the insurance placement of Hambros Perks Acquisition Company, the first ever listing of a Special Acquisition Company (SPAC) on the London Stock Exchange. A SPAC is a company that has no commercial operations and is formed strictly to raise capital. The vehicle aims to raise upwards ... Read the full article
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