Reinsurance News
Aon / Willis Towers Watson still debating dates, key pre-trial points with US DoJ
14th July 2021
The debate over the scheduling of key dates in the legal process continues in the build up to Aon and Willis Towers Watson's (WTW) antitrust trial with the US Department of Justice (DoJ). Late in June, after what we assume was a protracted period of negotiation, the US department of Justice ... Read the full article
Mosaic begins underwriting US transactional liability coverage
14th July 2021
Mosaic Insurance has begun underwriting transactional liability coverage in the US amid the current upsurge in mergers and acquisitions activity. Launched with a maximum initial capacity of $25 million per risk, Mosaic’s product line includes Representations and Warranties Insurance, a staple for private equity and strategic buyers and sellers in M&A ... Read the full article
Moskowitz & Bell take senior reinsurance roles at Everest Re
14th July 2021
Bermuda-based re/insurer Everest Re Group has announced the appointments of Ari Moskowitz and Peter Bell to critical leadership roles within its Reinsurance Division. Moskowitz has been named Senior Vice President, Chief Operations Officer and Peter has been named Senior Vice President, Chief Executive Officer and Managing Director of Bermuda, subject to ... Read the full article
AXIS Re announces three key leadership promotions
14th July 2021
AXIS Re, the reinsurance business segment of AXIS Capital, today announced the promotion of three key staff members, including Simon Stirnemann to Head of EMEA LatAm Casualty. Stirnemann has been with AXIS more than 15 years, working in the Singapore and Zurich offices, and has held liability and casualty underwriting roles ... Read the full article
Swiss Re predicts strong 5.8% global GDP growth in 2021
14th July 2021
Swiss Re is expecting a strong global economic recovery from COVID-19 to result in historically high global gross domestic product (GDP) growth of 5.8% in 2021. Global insurance premiums are set to follow this strong growth, increasing by an expected 3.3% in 2021 to a total of $6.9 trillion. The report ... Read the full article
Kingstone inks new reinsurance program
14th July 2021
Northeast regional property and casualty insurance holding company Kingstone has announced the finalisation of its reinsurance program for the period between July 1, 2021 through June 30, 2022. "I am delighted to let you know that Kingstone has finalized its 2021- 2022 catastrophe reinsurance placement,” said Barry Goldstein, Kingstone Chief Executive ... Read the full article
RMS names Jason Futers as Managing Director
14th July 2021
Catastrophe risk modelling firm RMS has appointed Jason Futers as Managing Director, and will lead RMS’s UK insurance business. Futers has experience in creating and managing successful multi-disciplinary teams, previously holding roles within client success, technology, sales, and product management for companies in the UK, Europe, US, and Asia. From 2017, he ... Read the full article
YuLife raises $70mn in Series B funding round
14th July 2021
Life insurer YuLife has raised $70 million (£50 million) in a Series B funding round led by Target Global. The round was also supported by new investors Eurazeo and Latitude as well as existing investors Creandum, Notion Capital, Anthemis, MMC Ventures, and OurCrowd. The insurer will use the capital to develop new ... Read the full article
Fidelis raises capital as Travelers makes strategic minority investment
14th July 2021
Bermuda-based insurance and reinsurance holding company, Fidelis Insurance Holdings Limited, has announced that The Travelers Companies, Inc. has made a strategic minority investment in Fidelis. Terms of the transaction, which sees Fidelis raise additional capital with a strategic investor, were not disclosed. Fidelis operates a Three Pillar strategy across bespoke, reinsurance and ... Read the full article
IGI sets up Malta-based European subsidiary
14th July 2021
International General Insurance Holdings Ltd. (IGI) has set up a European subsidiary in Malta, following regulatory approval from the Malta Financial Services Authority (MFSA). The subsidiary, called IGI Europe, is authorised by the MFSA to write a full suite of IGI products and will exercise passport rights across the European Union ... Read the full article
Lloyd’s Europe looks to complete leadership with new Board additions
14th July 2021
Lloyd’s Insurance Company (LIC), the European subsidiary of the Lloyd's insurance and re/insurance marketplace, has announced the additions of Bruno van Lierde, Nicole Verheyen, Amélie Breitburd, and Angela Crawford-Ingle to its Board of Directors. A search process is also underway for the recruitment of an additional independent, non-executive director which would ... Read the full article
Ryan Specialty announces launch of initial public offering
14th July 2021
Ryan Specialty Group has launched its initial public offering of 56,918,278 shares at an expected price of between $22 and $25 per share. Ryan Specialty intends to grant underwriters the right to purchase up to an additional 8,537,742 shares of its Class A common stock. Ryan Specialty has applied to list its ... Read the full article
Swiss Re & Milliman partner to deliver simplified flood offering
14th July 2021
Global reinsurance giant Swiss Re has partnered with Milliman, Inc. to deliver a new simplified flood solution via the latter's open advisory and rating organization, Milliman Appleseed. Developed by Swiss Re, the new flood offering has been designed to provide flexible coverage for low and moderate flood risks. According to the pair, ... Read the full article
BHSI enters Mittelstand property market in Germany
14th July 2021
Berkshire Hathaway Specialty Insurance (BHSI) has started underwriting property cover for Mittelstand enterprises across Germany. As a result, Natali Bagaric has been named Head of Property, Mittelstand. Bagaric comes to BHSI with 18 years of industry experience. She was most recently Practice Leader Real Estate & Hotels, at Chubb European Group SE ... Read the full article
TransRe names Craig Hupper as ESG leader
14th July 2021
Alleghany Corporation's TransRe has announced the promotion of Craig Hupper to lead its various Environmental, Social and Governance (ESG) initiatives. In this capacity, Hupper takes on responsibility for advancing the reinsurer's overall ESG framework, as well as implementing the policies, procedures and metrics needed to execute various programs. Additionally, Hupper will coordinate ... Read the full article
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