Reinsurance News
95% of re/insurance execs view climate as investment risk: BlackRock
15th November 2021
A new study by investment management firm BlackRock shows that re/insurers are increasingly concerned about the implications of climate risk, with 95% of executives confirming it will have a significant impact on portfolio construction over the next two years. The findings of BlackRock’s tenth annual Global Insurance Report follow an unprecedented ... Read the full article
ABIR makes Public Policy & Government Relations hire
15th November 2021
The Association of Bermuda Insurers and Reinsurers (ABIR) has announced the appointment of Lynesha Lightbourne as Assistant Director of Public Policy and Government Relations. Lightbourne arrives with 18 years of business development, financial services, and high net worth client service experience, and joins ABIR from the Bermuda Business Development Agency (BDA), ... Read the full article
Miller appoints Kate Levett as Head of Market Management
15th November 2021
Specialist re/insurance broker Miller has announced the appointment of Kate Levett to the newly created role of Head of Market Management. Levett will report to Ken MacDonald, Executive Chairman, and lead the development and coordination of relationships with Miller’s carrier partners. This will include expanding client access to products and services, as ... Read the full article
Aston Lark acquires Innovation Broking
15th November 2021
Aston Lark Group, the Goldman Sachs-backed insurance broker soon to be acquired by Howden, has announced the acquisition of Innovation Broking, based in London and Watford. Established in 2015, Innovation Broking is an independent corporate insurance broker and employee benefits adviser that was founded by Paul Dickson and Howard Pearson. The company ... Read the full article
HDI Global hires Michelle Boyd from AXA XL
15th November 2021
Specialty insurer, HDI Global Specialty SE has entered the Marine Hull and Machinery London market with the hire of Senior Underwriter Michelle Boyd. Boyd has over 20 years’ insurance market experience, covering both broking and underwriting roles and joins the specialty lines insurer from AXA XL, where she was senior marine ... Read the full article
James River hires Mike Hoffmann from Everest Re as Group CUO
15th November 2021
Bermuda domiciled insurance holding company, James River Group Holdings, Ltd., has appointed Mike Hoffmann to the newly created role of Group Chief Underwriting Officer (CUO), reporting to the company's Chief Executive Officer (CEO), Frank D’Orazio. As CUO, Hoffmann will head up a team with responsibility for underwriting, enterprise risk, and ceded ... Read the full article
Swiss Re’s Mumenthaler named Chairman of The Geneva Association
15th November 2021
Swiss Re Chief Executive Christian Mumenthaler has been appointed Chairman of The Geneva Association, having served as Vice Chairman since late 2019. Mumenthaler succeeds Intact CEO Charles Brindamour in the role, while Lee Yuan Siong, CEO & President of AIA, will step into his previous position as Vice Chairman. Additionally, Aviva CEO Amanda ... Read the full article
Asian Development Bank & V20 partner on Philippines climate insurance
15th November 2021
The Asian Development Bank (ADB) has announced a new project to develop climate-smart insurance for micro, small, and medium-sized enterprises (MSMEs) in the Philippines to be administered through the Asia-Pacific Climate Finance Fund (ACliFF). The climate-smart insurance project represents the first project under the Vulnerable Twenty Group’s (V20) new Sustainable Insurance ... Read the full article
Multi-billion dollar US floods drive up global nat cat bill for October: Aon
15th November 2021
A series of flooding events during October resulted in billions of dollars worth of economic costs, according to Aon's monthly natural catastrophe report. Meanwhile, a late-season severe weather outbreak in the US’ Southern Plains and Midwest generated large hail, damaging winds and tornadoes between Oct. 10 and 11. Aon says total economic ... Read the full article
Liberty Mutual adds Anne Waleski to board of directors
15th November 2021
Liberty Mutual Insurance has appointed Anne Waleski, previously of insurer and reinsurer Markel Corporation, to the company's board of directors. Waleski has served in executive and leadership roles at publicly traded companies and brings over 30 years of extensive financial expertise spanning the property and casualty insurance, manufacturing and retail sectors. She ... Read the full article
Fitch highlights strong 9M earnings from Europe’s top 4 reinsurers
15th November 2021
Europe’s four biggest reinsurers are said to have demonstrated strong earnings improvements over the course of 2021’s first nine months, despite what was a period of heavy catastrophe losses for the sector. Fitch Ratings' analysts explained how Munich Re, Swiss Re, Hannover Re and SCOR all posted ... Read the full article
RSA and Intact integrate specialty teams
15th November 2021
RSA’s London Market and European specialty lines teams will integrate with Intact’s global specialty team in order to strengthen both brands’ customer offering and standing in the international market. Following Intact’s acquisition of RSA’s UK & International business earlier this year, teams from both firms will develop an integrated global ... Read the full article
Hannover Re parent Talanx reports €177m Q3 income
15th November 2021
Hannover Re's parent company Talanx has reported group net income of €177 million during the third quarter of 2021, bringing its total for the first nine months of the year to €723 million. Although the Q3 figure is slightly down from the €194 million reported in the same period last year, ... Read the full article
Net zero drive requires more regulatory flexibility: LIIBA
15th November 2021
Christopher Croft, CEO of broker body LIIBA, has asserted that regulators will need to show more flexibility to help support the drive to achieve net zero in the insurance and reinsurance industries. Speaking online to the Association of Lloyd’s Brokers, a US-based group of Lloyd’s coverholders, Croft said that the journey ... Read the full article
Gen Re opens new office at the DIFC
15th November 2021
General Reinsurance AG (Gen Re) has bolstered its presence in the Middle East with the launch of a new office at the Dubai International Financial Centre (DIFC). The launch makes Gen Re the second insurer owned by Berkshire Hathaway to expand its presence in the region. Gen Re has been granted a ... Read the full article
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