Reinsurance News
Aon launches Ransomware Defence to improve cyber preparations
7th October 2021
Re/insurance broker Aon has announced the launch of Ransomware Defence, a solution that brings the firm’s Aon’s cyber security expertise and capabilities together into one solution to help mid-market organisations improve their cyber preparedness. Aon notes that insurers are experiencing mounting losses, largely driven by the proliferation of ransomware, with the ... Read the full article
AXA XL Insurance promotes Michael Takigawa
7th October 2021
AXA XL Insurance has announced the appointment of Michael Takigawa as its new Head of Commercial E&O for the Americas region. Takigawa is based in San Francisco and Monterey, where he will oversee the underwriting strategy and product innovation for AXA XL's Commercial E&O business in the region. He joined AXA XL ... Read the full article
Corvus adds Vincent Weafer as CTO
7th October 2021
AI-driven commercial insurer Corvus has announced the appointment of Vincent Weafer as its new Chief Technology Officer, bringing over 25 years’ experience to the role. Weafer was most recently Senior Vice President of Cyber Engineering at Capital One, where he led a multi-disciplined team of cyber, technology, and machine learning engineers ... Read the full article
RLI announces Q3 cat losses of up to $35mn, net of reinsurance
7th October 2021
U.S. property and casualty insurance company, RLI Corp., has pre-announced estimated pre-tax catastrophe losses of between USD 30 million and USD 35 million for the third-quarter of 2021. RLI is scheduled to release its third-quarter 2021 financials after the market closes on October 20th. The insurer's loss range of USD 30 million ... Read the full article
CoreLogic hires Next Gear Solutions founder to lead combined claims
7th October 2021
Catastrophe risk modeller CoreLogic has appointed Garret Gray, Founder and CEO of recently acquired Next Gear Solutions, to lead the company’s combined claims operations. CoreLogic completed the acquisition of Next Gear Solutions, a market leader in digital workflow platforms and solutions for the property restoration industry, in September 2021. The transaction brought ... Read the full article
Swiss Re joins insurtech Getsafe’s $93m Series B
7th October 2021
Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article
ICEYE adds Global Head of Insurance Solutions
7th October 2021
ICEYE, a builder and operator its own commercial constellation of SAR satellites, has named Lisa Wardlaw as Global Head of Insurance Solutions, and Daniel Stander as a Senior Advisor. The company owns and operates the largest synthetic-aperture radar (SAR) constellation in the world and offers solutions focused on the unique needs ... Read the full article
David Bruce named as CEO of Marsh Commercial
7th October 2021
Insurance broker and risk advisor Marsh has announced the appointment of David Bruce as Chief Executive Officer of Marsh Commercial. Effective January 1, 2022, Bruce will also join Marsh’s UK & Ireland Executive Committee. Bruce joined Marsh Commercial in 2018 as Chief Operating Officer and has held a number of senior broking ... Read the full article
AXIS Insurance reshuffles Capital Risk Solutions team
7th October 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has made three appointments within its Capital Risk Solutions (CRS) team. Jim Parker and Richard Jelf, both Senior Underwriters, will focus on growing the project finance and aircraft finance portfolio as well as strengthening existing relationships and driving business growth. Both ... Read the full article
EIOPA sets out its strategic priorities for 2022
7th October 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the coming year, with the goals of ensuring consumer protection and safeguarding financial stability. Activities take into account the ongoing effects of COVID-19, the market situation and political priorities, in particular supporting the digital and green recovery. The ... Read the full article
Lockton agrees to acquire the Edge Group
7th October 2021
Independent insurance broker Lockton has entered into an agreement to acquire the Edge Group. Edge Group is the largest independent marine broker in the Scandinavian market, with an estimated 2% share of the global marine insurance market. Its acquisition will complement Lockton’s existing marine footprint in the Mediterranean and Singapore and will ... Read the full article
Coalition acquires Attune
7th October 2021
Coalition, a cyber insurance and security provider, has acquired Attune, a managing general agent (MGA) and technology-powered broker platform for commercial insurance. This acquisition brings both companies together to offer digitally-powered insurance that can leverage vast amounts of data to assess, mitigate and eliminate risk for businesses. Coalition will expand the reach ... Read the full article
Climate transition plans vital as risk of fuel poverty looms: Swiss Re
6th October 2021
Swiss Re has underlined the “urgent need” for orderly climate change transition plans that invest more into renewables, as the energy crisis in Europe threatens to give rise to ‘fuel poverty’ and increase social tensions. In a new report, analysts note that energy prices have skyrocketed in recent weeks, as shortfalls ... Read the full article
Cowbell Cyber gets fronted reinsurance capacity via Palomar
6th October 2021
AI-powered cyber insurer Cowbell Cyber gained fronted reinsurance capacity via a new strategic partnership with Palomar Excess & Surplus Insurance Company. Palomar announced earlier this month that it was entering the fronting sector of the US market with a new venture called PLMR-FRONT. This new multi-year agreement with Cowbell is backed ... Read the full article
Safety National Re makes senior reinsurance appointments
6th October 2021
Safety National Casualty Company, a specialty provider of insurance and reinsurance and member of the Tokio Marine Group, has announced a series of appointments within its reinsurance lines. Firstly, Bob King, formerly Senior Vice President and Chief Underwriting Officer of Treaty Reinsurance, has been appointed as Executive Vice President of Treaty ... Read the full article
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