Reinsurance News
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
First Superfund deal imminent following regulatory nod, says Aon
1st December 2021
Re/insurance broking giant Aon has underlined the significance of so-called Superfunds and expects the new Pension Risk Transfer (PRT) instrument to be deployed imminently. Superfunds have been introduced to help help counteract emerging gaps between the fixed sums paid out by pension schemes and the income received from investments. The driving concept ... Read the full article
James Kent to lead Gallagher Re as acquisition of Willis Re completes
1st December 2021
Global re/insurance broker Arthur J. Gallagher & Co. has completed its previously announced acquisition of the treaty reinsurance operations of rival Willis Towers Watson (WTW). It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re from its parent for ... Read the full article
Ransoms demanded to ransoms paid on the decline: Corvus
1st December 2021
Corvus Insurance has released a new report, showing the insights and tools used by risk managers, IT departments, security researchers, and solution providers to hone their offerings and approaches to keeping organisations safe from evolving cyber threats. The report looked at ransomware which has quickly become a dominant force in cyber ... Read the full article
WTW appoints Anthony Monaghan to Industry Transportation Leader role
1st December 2021
Global re/insurance broker Willis Towers Watson has named Anthony Monaghan as GB Industry Transportation Leader for its Risk & Broking Division in GB. Monaghan joins from Marsh, where he most recently led their Manufacturing & Automotive Industry. Prior to MMC’s acquisition of JLT, he was Marsh’s Transportation Leader for the UK and ... Read the full article
German primary insurers’ capital levels are credit positive: Fitch
1st December 2021
According to Fitch Ratings, German primary insurers’ ratings which are supported by their capital positions, has improved in recent years. The rating agency highlighted that insurers’ capital positions are generally at least level with the ratings assigned, with ‘Very Strong’ or ‘Extremely Strong’ Prism Factor-Based Capital Model (FBM) scores. Most ratings are ... Read the full article
Singapore fintech Pand.ai launches broker with Allianz, Etiqa & MSIG
1st December 2021
Fintech startup Pand.ai has announced the launch of GINA.sg, an English-Chinese bilingual WhatsApp Chatbot that helps car owners in Singapore find motor insurance. GINA.sg will be launched in partnership with insurers Allianz, Etiqa and MSIG. It will offer digital brokerage services for general insurance under the Monetary Authority of Singapore (MAS) Fintech ... Read the full article
Severe stagflation scenario would hurt insurers, warns Swiss Re
30th November 2021
Analysts at Swiss Re have warned that a severe ‘stagflation’ event, similar to that seen in the 1970s, would hurt re/insurers due to weakening premium revenues and poor investment returns. The reinsurer defines stagflation as persistently high inflation coinciding with weak economic growth and high unemployment. A surge in US Consumer Price ... Read the full article
Charles Lee to lead AXA XL’s US South West Global Risk Management business
30th November 2021
AXA XL has appointed Charles Lee to lead its Global Risk Management business in the South West Region of the US. Lee joins AXA XL from Chubb where he was Senior Vice President, Global Client Executive and led the Global Casualty Pacific South Region in Los Angeles. He has also been ... Read the full article
SCOR strengthens biodiversity commitment
30th November 2021
French reinsurer SCOR has joined act4nature international, an alliance of companies committed to accelerating concrete business action in favour of nature and biodiversity. Signatory of the Finance for Biodiversity Pledge and member of the Finance for Biodiversity Foundation, SCOR has made additional biodiversity-related commitments as part of the act4nature alliance. The reinsurers new ... Read the full article
Alliant appoints O’Malley to senior cyber position
30th November 2021
Alliant Insurance Services has announced the appointment of Meghan O’Malley as First Vice President. She will lead the Western region, providing cyber solutions for Alliant clients located west of the Mississippi River. Prior to joining Alliant, O’Malley served as Divisional Director for Cyber and Technology Solutions at Howden Specialty in London where ... Read the full article
PlanGap & Insurex partner on social security protection reinsurance
30th November 2021
Financial product innovation company PlanGap has formed a strategic partnership with insurance advisory firm Insurex to develop reinsurance solutions for the Social Security Protection marketplace. According to recent survey data, 7 out of 10 Americans age 45+ doubt they will receive their full Social Security benefits as promised. The primary concern is ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
