Reinsurance News
Helios secures further capital raise with latest LLV purchases
27th September 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired three limited liability vehicles (LLVs) for an aggregate cash consideration of roughly £1.95 million, generating syndicate capacity of £2.39 million. The acquired LLVs, named Nameco (No 2011 & No 2012 and G.T.C. Underwriting, follows Helios' purchase of North Breache Underwriting, a ... Read the full article
Apollo adds RMS’ ExposureIQ app into exposure management workflow
27th September 2021
Independent specialist re/insurer Apollo has announced the integration of RMS’ ExposureIQ application into its exposure management workflow, citing its outstanding internal exposure management processes and underwriting capabilities as a key factor. ExposureIQ is an cloud-based exposure management application running on the RMS open cloud platform, RMS Risk Intelligence. It enables faster and more ... Read the full article
Farmers Insurance to use mobile robot for catastrophe claims
27th September 2021
Farmers Insurance plans to use a digitally controlled mobile robot to assist with in-field catastrophe claims handling and non-catastrophe property inspections, in an effort to improve safety and efficiency. Created by Boston Dynamics and customized for Farmers, a robotic quadruped will join claims personnel beginning as early as fall 2021 to ... Read the full article
SiriusPoint names Justin Brenden as Chief Actuary
24th September 2021
Specialty re/insurer SiriusPoint has appointed Justin Brenden to the role of Chief Actuary. In his new role, Brenden will lead SiriusPoint’s actuarial organisation, with responsibility for global reserving and aligning pricing to drive to the Company’s objective of improving underwriting profitability. He will be based in Bermuda and report to SiriusPoint Chief ... Read the full article
Munich Re’s HSB launches cyber coverage in Canada
24th September 2021
HSB Canada, part of Munich Re, has introduced a new collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. HSB Cyber Suite is a cyber reinsurance solution for property-casualty insurers, including underwriting, marketing support, 24/7 claim service, and ... Read the full article
Over-reserving sees PERILS drop Australia flood loss estimate to AU$751mn
24th September 2021
Catastrophe insurance data provider PERILS has cited over-reserving as the sole driver behind its significantly lower industry loss estimate from the New South Wales and Queensland flooding in March; what six weeks ago was AU$1.055 billion now stands at $751 million. Between March 18 and 24 the East Coast of Australia ... Read the full article
AJ Gallagher acquires Federal Crop Insurance specialist Files Agribusiness
24th September 2021
Global insurance broker Arthur J. Gallagher & Co. has announced the acquisition of Bastrop, LA-based Files Agribusiness, LLC. Founded in 2010, Files Agribusiness is a retail insurance agency that specializes in offering Federal Crop Insurance, agribusiness property and casualty, and agricultural aviation coverages. It serves clients primarily in the states of Louisiana, ... Read the full article
RAA elects RenRe’s O’Keefe as board’s Secretary-Treasurer
24th September 2021
The Reinsurance Association of America's board of directors has elected Justin O’Keefe, Senior Vice President and Chief Underwriting Officer for the global property segment at RenaissanceRe, as Secretary-Treasurer. He is responsible for the company’s property underwriting strategy, activities and teams across its global platforms, having joined in 2004 before holding a ... Read the full article
Beazley names AXIS Capital’s Bob Quane CUO
24th September 2021
Specialist insurer Beazley has appointed Bob Quane to serve as its Chief Underwriting Officer (CUO), a role he brings 30 years' industry experience to. Quane joins from AXIS Capital, having served as CUO within its insurance segment. Based in New York, he starts October 11 and is also set to join Beazley’s Executive ... Read the full article
BILTIR board member Natasha Scotland Courcy appointed new Vice-Chair
24th September 2021
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has announced the transition of Board member Natasha Scotland Courcy to serve as its new Vice-Chair, as well as the arrival of Andrew Sooboodoo. The appointments were confirmed at BILTIR’s annual 2021 Bermuda International Life and Annuity Conference. Scotland Courcy, who is Senior Vice-President, ... Read the full article
Arch Insurance names Silvia Martinez as General Counsel
24th September 2021
Arch Insurance International, part of Arch Capital Group, has appointed Silvia Martinez as General Counsel, with immediate effect. Martinez has extensive corporate governance knowledge and expertise overseeing complex corporate and capital market transactions, bringing 10 years of legal experience to the role. Based in London, she will report to Kirsten Valder, Chief ... Read the full article
Athora agrees to acquire Amissima Vita
24th September 2021
Athora Holding has agreed to acquire Italian life insurer, Amissima Vita as part of its continuing growth strategy focused on traditional life savings and pension products. The transaction is expected to complete within the first half of next year and is subject to applicable regulatory clearances. This acquisition represents Athora’s first step ... Read the full article
GIIA awards first ESG accreditation to Dunant Re
24th September 2021
The Guernsey International Insurance Association (GIIA) has awarded its first environmental, social and governance (ESG) accreditation for an insurance entity. The framework was launched in Guernsey earlier this year and has awarded Dunant Re IC, an Incorporated Cell of Replexus ICC (Guernsey), managed by Aon Insurance Managers (Guernsey) this accreditation. The Red ... Read the full article
Mosaic announces series of key appointments to UK team
24th September 2021
Mosaic Insurance has expanded its cybersecurity business line internationally with the addition of new team members to its UK-based unit. George Cole has been appointed AVP, Underwriter, International Cyber, working with global clients to develop solutions and grow a sustainable cyber portfolio. Previously, he was an assistant underwriter at Occam Underwriting, after ... Read the full article
Protecdiv completes placement deal with Maquia Capital
24th September 2021
US re/insurance broker Protecdiv has completed a procurement and placement deal with Maquia Capital in partnership with CAC Speciality. Maquia Capital is a Miami based Financial Group that in December 2020 announced plans to launch a SPAC for the acquisition of growth-oriented Technology companies. The firm is aiming to improve its ... Read the full article
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