Reinsurance News
AXIS Insurance adds Senior Underwriters to Financial Institutions team in London
19th October 2021
AXIS Insurance, a division of Bermuda-based AXIS Capital Holdings Limited, has added Beth Convey, Julieta Moya, and Mark Sutton to its Financial Institutions team in London, effective immediately. The trio join the insurer as Senior Underwriters, reporting to Callum McPherson, Head of Financial Institutions in London. In their new roles, they will ... Read the full article
TMK appoints Chubb’s David Slevin to lead Aviation department
19th October 2021
Specialist international insurer Tokio Marine Kiln has appointed David Slevin to lead its Aviation department starting next spring, as sights are set on expanding the firm's presence in the sector. The newly created role will see Slevin push for profitable growth and development of TMK’s Aviation portfolio. He brings more than 36 ... Read the full article
Atrium hires Toby Russell as Casualty Treaty Underwriter
19th October 2021
Atrium Underwriting (Atrium), the managing agent for Lloyd’s Syndicate 609 has appointed Toby Russell as Casualty Treaty Underwriter reporting to Andrew Winyard, Head of Casualty Treaty. He joins Atrium from Aon Re, where he worked the past 8 years as a broker within the North American Casualty Treaty team. Winyard commented: “Toby ... Read the full article
Charles Taylor adds Derik Chen as Regional Director for China
19th October 2021
Charles Taylor Adjusting has appointed Derik Chen as Greater China Regional Director, where he will have oversight of the company’s growth in China and Taiwan. Chen will also lead the establishment of the firm’s property and casualty adjusting business in Taiwan. Currently based in Shanghai, Derik has over 25 years of experience ... Read the full article
2021 was “no outlier” for European cat losses: Swiss Re’s Reichelt
18th October 2021
With climate concerns growing across the re/insurance market, Swiss Re’s Frank Reichelt warns that secondary peril losses will inevitably grow, meaning a year like 2021 in Europe is “no outlier on a global scale.” With the January 2022 renewals coming up, reinsurance buyers are reflecting on what has been another active ... Read the full article
The Carrick Group secures $40mn credit from Bank of Montreal
18th October 2021
International non-life legacy business The Carrick Group has confirmed a $40 million credit agreement between its Bermuda-based subsidiary and the Bank of Montreal. The credit will be used to pursue and execute legacy transactions. Karl Wall, Chief Executive Officer of Carrick Group said this credit agreement provides access to additional funding that will ... Read the full article
Taussig Capital acquires Spencer Re
18th October 2021
Taussig Capital, an advisory firm with a focus on asset managers, family offices, insurers, reinsurers, and banks, has acquired all of the voting shares of Spencer Re I.I., which will be rebranding as Taussig Capital Re. Founded in 2006 and licensed in Puerto Rico, Spencer Re I.I. is a global insurance ... Read the full article
Guy Carpenter launches Wildfire Risk Score
18th October 2021
Guy Carpenter & Company has launched a Wildfire Risk Score designed to help clients manage their exposure to the evolving risk of wildfire across Europe. The solution builds on the approach successfully deployed in the U.S. and adds an additional peril geography to Guy Carpenter’s climate advisory offerings. Through the new platform, ... Read the full article
Reinsurer capital strength a cushion against loss volatility: S&P
18th October 2021
Analysts at S&P Global Ratings have reported that the very strong capital adequacy of the global reinsurance sector continues to provide it with a cushion against catastrophe risk and other large losses, which have proven extremely volatile in recent years. “The sector remains resilient to extreme events because of its robust ... Read the full article
Reinsurance: The data driven future – Register for this live webcast
18th October 2021
We're holding another live webcast on November 4th and this time the discussion will be focused on the use of technology within the reinsurance sector and the importance of data as a driver of future innovation. The webcast is being held in association with our ... Read the full article
Ransomware a growing concern for re/insurers, says Fitch
18th October 2021
As part of a new report on cybersecurity risks, analysts at Fitch Ratings have noted that ransomware in particular is becoming a “growing concern” for the re/insurance industry. The rating agency said cybersecurity is arguably reaching an “acute phase,” following high-profile events at several of the largest and most sophisticated insurance ... Read the full article
Andy Read joins ICEYE to lead global government solutions
18th October 2021
ICEYE, a commercial synthetic-aperture radar (SAR) satellite operator and flood data specialist, has appointed Andy Read to the role of Global Head of Government Solutions. With an extensive background in public policy, natural catastrophe resilience and re/insurance, Read will lead ICEYE’s efforts to deliver actionable, natural disaster data to public sector ... Read the full article
SCOR backs WTW’s Climate Transition Pathway solution
18th October 2021
SCOR has signed up to align capacity to support the Climate Transition Pathway (CTP) solution, developed by Willis Towers Watson. CTP is an accreditation framework that provides insurance companies and financial institutions with a consistent approach to identifying businesses with robust low carbon transition plans aligned to the Paris Agreement. SCOR is the ... Read the full article
Two-thirds of BI test case policyholders now paid: FCA
18th October 2021
New data from the Financial Conduct Authority (FCA) shows that 68.4%, or just over two-thirds, of UK policyholders whose COVID-19 business interruption (BI) policies have been accepted by insurers have now recieved at least an interim payment. As of October 5th, the aggregate value of the payments made for the 24,463 ... Read the full article
Beazley receives in principle approval to launch Lloyd’s first ESG syndicate
18th October 2021
Specialist insurer Beazley has received in principle approval from Lloyd’s to establish Syndicate 4321 from the start of next year. The syndicate will focus exclusively on offering additional capacity to businesses that perform well against ESG metrics and will be led by Will Roscoe, Head of the Market Facilities Division. Syndicate 4321, ... Read the full article
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