Reinsurance News
Premium renewal rate changes vary in October: IVANS
10th November 2021
The results of the October 2021 IVANS Index show that, month-over-month, average premium renewal rates across major commercial lines of insurance business experienced variable changes, reports IVANS. Released on a monthly basis, the IVANS Index is the insurance industry’s premium renewal rate index, which analyses more than 120 million data transactions. The ... Read the full article
MNK Re announces new UK wholesale, retail business
10th November 2021
MNK Re, a broker of specialist risks into Lloyd’s, has announced the launch of a new business focused on UK wholesale and retail. MNK Re UK Specialty will initially focus on developing wholesale and high net worth lines. Grahame Lamb, Richard Daws and Jonathan Britton are set to lead the new operation; ... Read the full article
Swiss Re names new Head of P&C Analytics, APAC
10th November 2021
Global reinsurer Swiss Re has appointed Monami Mukherjee as Head of Property & Casualty (P&C) Analytics for the Asia Pacific region, supporting the firm's commitment to provide cutting-edge data and analytics solutions across the P&C sector. She brings 17 years of experience across P&C Actuarial and Strategy Operations in primary markets ... Read the full article
Ontario Teachers’ to invest in Lloyd’s London Bridge Risk PCC
10th November 2021
Lloyd’s has announced the participation of the Ontario Teachers’ Pension Plan Board in the London Bridge Risk Protected Cell Company (PCC), providing initial capital in excess of £100 million with an expectation for that to grow over time. Ontario Teachers’ is the administrator of Canada's largest single-profession pension plan and has ... Read the full article
More rate needed, but cat is clearly a profitable line: Munich Re CFO
10th November 2021
While many of the catastrophe prone markets have already experienced hardening over the past few years, higher prices are still required for some of the less impacted geographies and perils, but overall, Munich Re is pleased with the profitability of its catastrophe book, according to its Chief Financial Officer (CFO), ... Read the full article
Allianz reports strongest Q3 despite higher nat cat experience
10th November 2021
Global insurer Allianz has reported its strongest ever third quarter performance in 2021, as total revenues and operating profit increased, year-on-year, driven by a solid performance in all business segments. Allianz has announced Q3 total revenue growth of 9.5% to €34.4 billion, alongside an 11.3% rise in operating profit to €3.2 ... Read the full article
BHSI promotes Carlos Beltran to SVP, Global Property Underwriting Officer
10th November 2021
Berkshire Hathaway Specialty Insurance (BHSI) today announced the appointment of Carlos Beltran as Senior Vice President, Global Property Underwriting Officer. Beltran joined BHSI in 2018 as Vice President, Property Underwriting Manager for the Middle East, before taking on the role of Head of First Party Lines for Asia. Prior to BHSI, he ... Read the full article
Tysers welcomes UK’s £500m Production Restart Scheme extension
10th November 2021
Lloyd’s broker Tysers has reported that the UK’s £500m Production Restart Scheme (PRS) for film and TV shoots has been extended for another six months. The scheme was first launched in July 2020 to help the film and TV industry recover from the pandemic by underwriting COVID-19 related delays. This gives productions ... Read the full article
Allianz Insurance adds Chris Varley as Chief Analytics Officer
9th November 2021
Allianz Insurance has added Chris Varley as Chief Analytics Officer, a newly created position effective from March 2022. Varley will be responsible for increasing data and pricing capabilities while creating a distinct analytics strategy across the organisation. He joins from Willis Towers Watson, having served as a senior director in a role ... Read the full article
Markel Specialty names Steve Girard as President, Southeast region
9th November 2021
Markel Corporation has appointed Steve Girard as President of the Southeast region for Markel Specialty. Girard currently serves as Regional President of the Mid-Atlantic region and will replace Nick Abraham. He joined Markel in 2008 in the Southeast region as Managing Director, Production and Underwriting. He was named Southeast Regional President in 2011. ... Read the full article
Carbon Underwriting secures BOOST&Co investment
9th November 2021
London’s Carbon Underwriting is eyeing new business lines and the development of its data-driven underwriting platform following significant funding from alternative lender BOOST&Co. Carbon will also use the investment for working capital purposes and to bolster its underwriting and leadership teams. BOOST&Co provides growth capital for UK SMEs covering a wide range of ... Read the full article
W. R. Berkley names Henle as President of Union Standard
9th November 2021
W. R. Berkley Corporation has announced the appointment of John Henle as President of Union Standard Insurance Group (Union Standard), effective immediately. He succeeds B. Keith Mitchell, who has transitioned into a new role as Chairman of Union Standard. Henle joins Union Standard with more than 20 years of multi-line insurance experience, ... Read the full article
Ascot appoints former Argo exec Will Chen to US CFO role
9th November 2021
Specialty re/insurer Ascot has appointed Will Chen to lead its US business as Chief Financial Officer, a role he recently operated in at rival player Argo. Chen, who brings 25 years' experience to the role, will take on primary authority and oversight for the financial prosperity of businesses including Ascot Specialty ... Read the full article
Tremor unveils real-time capacity viewing feature
9th November 2021
Reinsurance pricing and placing platform, Tremor Technologies, has released Tremor X-Ray™, a feature which provides insurance companies with real-time views of where capacity is coming from for their reinsurance programs. Through Tremor's latest feature, insurers can now filter by partner group, A.M. Best rating and more to see how supply flows ... Read the full article
Rep. Maloney reintroduces Pandemic Risk Insurance Act of 2021
9th November 2021
New York Congresswoman Carolyn Maloney reintroduced the Pandemic Risk Insurance Act of 2021 (PRIA) on November 2nd, paving way for the creation of the Pandemic Risk Reinsurance Program, designed to protect businesses of all shapes and sizes from the impacts of future pandemics. Rep. Maloney, alongside various stakeholders, first introduced ... Read the full article
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