Reinsurance News
Convex gets regulatory approval for UK branch
2nd December 2021
Convex Group has received regulatory approval to write European business via the UK branch of its recently establish Luxembourg-based European insurer. UK regulators the the Financial Conduct Authority and the Prudential Regulation Authority gave the go-ahead to Convex to start writing business from the UK branch based in London, effective immediately. Established ... Read the full article
Insured loss from storm Hendrik-Ignatz (Aurore) seen at €311m by PERILS
2nd December 2021
Storm Hendrik-Ignatz, also known as storm Aurore, which impacted parts of north-western and central Europe from October 20th to 21st, is expected to drive insurance industry losses of €311 million, according to an initial estimate by PERILS. Storm Aurore was driven by an unusually strong jet stream for mid-October with wind ... Read the full article
Profitable growth is back: Beazley
2nd December 2021
Beazley has released a new report which shows a good outlook for profitable growth in the short and medium term. The report noted that the outlook for growth in 2022 has improved in comparison to six months ago. Its margin has returned to the business as the combined ratio is now trending ... Read the full article
HDI Global SE develops insurance solution for Hoyos Integrity Corp
2nd December 2021
Industrial insurer HDI Global SE has developed an insurance solution for US company Hoyos Integrity Corporation. Hoyos Integrity Corporation specialises in digital services and device development for protected communication and the secure storage, custody and transfer of digital assets. The Hoyos wallet is available for both iOS and Android devices and supports ... Read the full article
PICC gives vape company $160m product liability cover
2nd December 2021
People's Insurance Company of China (PICC) has announced an International Warranty Service (IWS) strategic cooperation with vape brand GEEKVAPE. The agreement involves a product safety liability insurance policy with a coverage of up to 1 billion yuan (US$ 160 million). The International Warranty Service will act as an additional protection and commitment ... Read the full article
Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher
1st December 2021
With Arthur J. Gallagher’s (AJG) acquisition of Willis Re’s treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it feels like day one at a billion dollar startup. In the past seven years, Gallagher Re has established itself as the fifth largest ... Read the full article
Canopius Group names Lindsay Astor as Chief of Staff
1st December 2021
Global specialty re/insurer, Canopius Group has appointed Lindsay Astor to the newly-created role of Chief of Staff, and Head of Strategic Development. Astor joins Canopius from AXA XL, where she was most recently Head of Underwriting Management, UK & Lloyd’s, with responsibility for leading a team of business managers, and overseeing ... Read the full article
McGriff makes two senior leadership appointments
1st December 2021
McGriff, an insurance broking subsidiary of the Truist Insurance Holdings group, has appointed Crystal Sanderson as National Personal Lines & Small Business Practice Leader. Sanderson’s previous position was Senior Vice President and Director of McGriff’s Sales Center. Sanderson, who joined McGriff in 2006, will be responsible for all main street and premier ... Read the full article
Marty Schafer joins Ethos as First Distribution Officer
1st December 2021
Life insurtech Ethos has announced the appointment of Marty Schafer as its first Chief Distribution Officer to bolster the company's channel distribution. He will be responsible for building a team to focus on enabling partnerships specifically with third party life insurance distributors and life, property and casualty insurance agents. Schafer joins Ethos ... Read the full article
Toa Re America makes three leadership appointments
1st December 2021
Toa Re America (TRA) has appointed David Kavula and Kim Brown as Senior Vice Presidents Treaty Underwriting. Both positions report to Brian Sabia, Executive Vice President and Chief Underwriting Officer. Kavula joins TRA from Everest Re where he recently held the position of Vice President Treaty Underwriting Casualty. Prior to Everest Re, he ... Read the full article
Canopius backed Delos closes $5.3m seed funding round
1st December 2021
Delos Insurance Solutions, a catastrophe insurance managing general agency (MGA) with a focus on California wildfire risks, has successfully closed a $5.3 million seed funding round led by IA Capital, with participation from Avanta Ventures, Red Dog Capital, and Futureland Syndicate. Delos underwrites as an MGA using capacity from Canopius and ... Read the full article
Obsidian strikes carrier partnership with insurtech Steadily
1st December 2021
Obsidian Insurance Holdings, Inc., a program fronting insurance holding company, has announced a new carrier partnership with Steadily, a Texas-based insurtech that specialises in landlord insurance. The new program with Obsidian will offer insurance solutions that enable landlords to get rapid insurance quotes online. The partnership hopes to remove points of friction ... Read the full article
Howden acquires specialist insurance broker EML
1st December 2021
International insurance broker Howden has acquired Expat Marine Limited (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong. The acquisition is considered a reinforcement to Howden’s commitment to the Hong Kong market. EML was established 32 years' ago and caters for the insurance ... Read the full article
MS AUL appoints Head of Sustainability & ESG
1st December 2021
MS Amlin Underwriting Limited (MS AUL), the Lloyd’s global specialty re/insurer, has announced the appointment of Amir Sethu as Head of Sustainability & ESG, a newly created role. Sethu takes up the role later this month and reports directly to Martyn Rodden, Director of Strategy & Transformation. As Head of Sustainability & ... Read the full article
Aviva officially exits Italian market
1st December 2021
Aviva has now fully exited the Italian market following a €543 million sale of various life insurance businesses to CNP Assurances. The UK insurer had previously offloaded its general insurance business to Allianz €330 million, in a deal that was finalised last month. That deal with Allianz involved a portfolio equally ... Read the full article
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