Reinsurance News
New York Life names Craig DeSanto as CEO
18th November 2021
US domiciled mutual life insurer, New York Life has appointed Craig DeSanto as Chief Executive Officer (CEO), subject to regulatory approvals. DeSanto, who is currently the company’s president, will succeed Ted Mathas, who has served as CEO for nearly fourteen years. He will remain chairman of the board in a non-executive capacity ... Read the full article
WTW adds four to Board as succession process continues
18th November 2021
International insurance and reinsurance broker, Willis Towers Watson (WTW), has announced that Inga Beale, Fumbi Chima, Michael Hammond, and Michelle Swanback will all join its Board of Directors in 2022. These additions to its Board follow on from WTW's announcement in August that Carl Hess will succeed John Haley as ... Read the full article
Dean Klisura named Guy Carpenter CEO amid major MMC leadership re-shuffle
18th November 2021
Dean Klisura, currently the president of Guy Carpenter, has been appointed to lead the company as Chief Executive Officer, a role that will be taken up alongside his current duties. This appointment comes amid a broader shake up of the Marsh McLennan group's leadership, one that includes Marsh CEO and president ... Read the full article
US life insurers purchasing riskier assets: Moody’s
18th November 2021
According to analysts at Moody’s, the trend of US life insurance companies purchasing riskier assets has been driven by a combination of the low-interest rate environment and an influx of private equity investors. The Moody’s report shows that US life insurers have increased investments in less-liquid and illiquid investments, such private ... Read the full article
Markel adds Morgan Housel to board of directors
18th November 2021
Specialist insurer Markel Corporation has appointed Morgan Housel to its board of directors. Housel serves as a partner of The Collaborative Fund, a multi-stage private investment fund. He is also a frequent presenter discussing matters related to risk, investor psychology and business history, and author of the book The Psychology of Money. Housel ... Read the full article
VIG reports 41% rise in 9M profits
18th November 2021
Vienna Insurance Group (VIG) has reported a 41.2% rise in profit before taxes for the first nine months of 2021, which totalled €376 million, versus €266.3 million for the same period last year. The company also recorded a 0.9 percentage point improvement in its combined ratio of 95.2%, as the impact ... Read the full article
SiriusPoint announces Andreas Kull as its new Chief Risk Officer
18th November 2021
Specialty insurer and reinsurer, SiriusPoint Ltd., has added Andreas Kull as its new Chief Risk Officer (CRO), where he will be responsible for oversight of the company's enterprise-wide risk management strategy. The appointment is effective March 1st, 2022, and comes as SiriusPoint continues to bolster its culture of underwriting excellence. Kull will ... Read the full article
Helios acquires 2% stake in Lloyd’s LLV as capacity quest continues
18th November 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired a 2% shareholding in a holding company of a group of Limited Liability Vehicles (LLV). The company announced in August its intention to bulk up its capacity using high quality syndicates at the historic insurance and reinsurance marketplace. As a ... Read the full article
BMS Re Brazil adds Pedro Carvalho as Head of Fac
18th November 2021
BMS Re, the specialist reinsurance broker, has announced the addition of Pedro Carvalho as Head of its Brazilian facultative department, effective immediately. In his new role as Head of BMS Re Brazil's fac unit, Carvalho will be based in São Paulo and will report to José Leão, Chief Executive Officer (CEO) ... Read the full article
Brit closes $380m loss portfolio transfer with RiverStone International
18th November 2021
Specialty insurer and reinsurer Brit Ltd has announced the completion of a loss portfolio transfer (LPT) agreement with run-off specialist RiverStone International (RiverStone). The deal is for predominantly legacy years of account on certain classes and certain discontinued classes of business underwritten by Brit Syndicate 2987 and is effective from 1 ... Read the full article
Hiscox names Liz Breeze as interim Group CFO
18th November 2021
Global specialist insurer and reinsurer, Hiscox, has announced that the Chief Financial Officer (CFO) of its reinsurance and insurance-linked securities (ILS) unit, Liz Breeze, will take over as interim CFO of the Group. Breeze's appointment remains subject to regulatory approval, and she will assume her new role while the company continues ... Read the full article
Private US P&C insurers posted strong net income growth in H1 2021: Verisk
18th November 2021
A joint report from Verisk and the American Property Casualty Insurance Association (APCIA), has shown that private property/casualty insurers in the United States posted strong net income growth in the first half of 2021. As the U.S. economy recovers from the pandemic, insurers' net income rose to $37.5 billion in the ... Read the full article
Ardonagh’s 9M 2021 income rises 30%
18th November 2021
UK-based independent insurance distribution platform and global brokerage, The Ardonagh Group, has reported a 30% rise in income for the first nine months of 2021 to £675.7 million, supported by strong growth in its Specialty and International units. Total income improved markedly from the £519.5 million reported for the same period ... Read the full article
Helios acquires LLV Queensbury Underwriting
18th November 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the competition of a further limited liability vehicle (LLV) acquisition. Queensberry Underwriting Limited was acquired for a cash consideration of £800,000. It will provide Helios with further syndicate capacity of £2.2 million. This time last month, Helios confirmed that it had ... Read the full article
WhenFresh partners with Ambiental on FloodScore Climate data
18th November 2021
Property data specialists WhenFresh has announced further collaboration with risk management and predictive analytics firm Ambiental to make available its FloodScore Climate dataset available via its proprietary API. Ambiental’s FloodScore Climate solution is designed to enable the re/insurance and banking sector to respond to the Bank of England's regulatory requirements. It does ... Read the full article
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