Reinsurance News
Chris Wallace to head up QBE UK insurance business
25th October 2021
Chris Wallace has been appointed Executive Director of QBE’s UK Insurance business, taking over the role from Cécile Fresneau. Fresneau was promoted to run the European Operations Insurance division earlier this year. Wallace will take up his role effective November 1st, and will report to Fresneau. Upon assuming leadership for the UK business, ... Read the full article
Marsh clients to receive preferred D&O coverage on ESG-related exposures
25th October 2021
Global insurance and reinsurance broker Marsh has revealed a new directors and officers liability (D&O) insurance initiative that will recognize U.S. clients with superior environmental, social, and governance (ESG) frameworks. Marsh's clients will work with international law firms including Norton Rose Fulbright and Orrick, Herrington & Sutcliffe LLP to independently review, ... Read the full article
Swiss Re predicts strong digital P&C premium growth in Southeast Asia
25th October 2021
New research by Swiss Re Institute projects that the digital property and casualty (P&C) personal lines market could reach a cumulative $7.5 billion in premiums over the next five years in South and Southeast Asia. Survey results on attitude to buying personal lines insurance in these regions highlighted a unique opportunity ... Read the full article
Allianz raises European flood loss to €1.1 billion
25th October 2021
Global insurer Allianz is now expecting gross losses of approximately €1.1 billion from the impacts of storm Bernd across Germany, Belgium, and the Netherlands in July. In early August, Allianz pegged its losses from the July flooding across parts of Europe at €900 million, of which it said roughly €500 ... Read the full article
Tokio marine makes two hires within Cyber & Professional Lines
25th October 2021
Tokio Marine HCC has appointed Richard Savage as Director of Cyber Incident Response and Alex Bovicelli as Director of Threat Intelligence. The appointments are the latest in a series of enhancements to the group’s cyber security capabilities as it builds on its 15-year heritage of cyber insurance excellence. Bovicelli will focus on ... Read the full article
EXOR & Covéa reported in talks over PartnerRe sale again
24th October 2021
According to reports, EXOR, the Agnelli family owned investment and holding company, is back at the negotiating table with French insurance group Covéa over the possible sale of reinsurance firm PartnerRe. Discussions between EXOR and Covéa are reported to have resumed in recent weeks, with Italian business newspaper Il Sole 24 ... Read the full article
Cyber is the one truly hard element of the market: GC’s Peter Hearn
22nd October 2021
Peter Hearn, Chief Executive Officer (CEO) of reinsurance broker Guy Carpenter, has asserted that the “one hard element” of the reinsurance market right now is cyber. Hearn was joined by executives from parent company Marsh McLennan (MMC) earlier this week during a call to discuss the company’s Q3 results. Guy Carpenter reported ... Read the full article
AXA XL appoints new east coast environmental insurance lead
22nd October 2021
AXA XL's environmental insurance business has appointed Joseph Madigan to lead its east coast business, with Tim Chung stepping into Madigan’s previous role as head of environmental for the central region. Madigan now assumes underwriting management responsibility of the organisation's largest region, working with brokers and clients all along the East ... Read the full article
Climate modeller Terrafuse AI launches platform for Cali wildfire risk
22nd October 2021
Terrafuse AI, a climate and weather risk forecasting tool developer, has launched a new platform for assessing and mitigating the growing property risk from wildfires in California, called Wildfire AI. Nearly 4.5 million U.S. homes were identified at high or extreme risk of wildfire, with more than 2 million in California ... Read the full article
AGCS’ ART division appoints Houlihan to lead Americas on permanent basis
22nd October 2021
Allianz Global Corporate & Specialty (AGCS) has named Thomas Houlihan as the firm's permanent regional head of Americas within its Alternative Risk Transfer (ART) division. Based in New York, he reports to Grant Maxwell, global head of ART. Houlihan has been serving in this role on an interim basis since May 2021 ... Read the full article
Neptune Flood announces NAPA Insurance Center partnership
22nd October 2021
AI-driven flood insurtech Neptune has partnered with National Automotive Programs, a Texas based specialty insurance broker. The partnership extends Neptune's platform to the NAPA family of over 22,000 locations nationally. NAPA provides access to an instant flood solution described as offering greater and broader coverages than the traditional National Flood Insurance Program ... Read the full article
US employer medical costs set to increase 5% next year: Aon
22nd October 2021
Re/insurance broker Aon has predicted that costs for large US employers that pay for their employees' medical care will increase on average 5% to more than $13,000 per employee in 2022. Aon notes that employer health plan costs and medical claims were suppressed for most employers in 2020 due to the ... Read the full article
Berkshire (BHSI) expands global network across 170 countries
22nd October 2021
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has expanded its global network to 170 countries worldwide. This encompasses owned offices and network partners that can provide BHSI customers with locally admitted insurance policies. “We are very pleased to welcome so many outstanding partners ... Read the full article
W. R. Berkley reports $2.3bn of NPW in Q3
22nd October 2021
Re/insurance holding company W. R. Berkley corporation reported its net premiums written (NPW) increased by 23.7% in Q3, at $2.3 billion compared to $1.8 billion for the same prior year period. Helping its net premium increase was their reinsurance segment, with casualty reinsurance NPW increasing to $194 million whilst its property ... Read the full article
Munich Re’s HSB acquires new SMB-focused cybersecurity platform
22nd October 2021
Munich Re-owned specialty insurer HSB has acquired a digital cybersecurity platform from cybersecurity firm Zeguro, including a suite of management tools and services designed for small businesses. The addition of Zeguro’s cyber safety solution and key personnel is expected to strengthen the overall cybersecurity offering of HSB. The platform offers integrated online ... Read the full article
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