Reinsurance News
Paris climate targets not possible without giant carbon removal industry: Swiss Re
8th July 2021
Reaching the Paris climate targets won’t be possible without a carbon removal industry the size of oil & gas, according to a new report from Swiss Re. The reinsurance giant has said that reducing CO2 emissions should be a priority, followed by removing any other unavoidable emissions from the atmosphere and ... Read the full article
PrimeOne adds Swiss Re’s Hinman as CUO
8th July 2021
Privately held specialty commercial lines carrier PrimeOne has appointed Darrin Hinman to serve as its Chief Underwriting Officer from August 1. Hinman joins from Swiss Re, where he served as Vice President of Actuary and Senior Treaty Underwriter since July 2011. He also spent time as pricing actuary on the global casualty ... Read the full article
W. R. Berkley names new president of Berkley Fire & Marine
8th July 2021
W. R. Berkley Corporation has appointed David Higley as president of Berkley Fire & Marine. Higley joins Berkley Fire & Marine with over 30 years of commercial property and casualty insurance experience, including more than 10 years in executive leadership roles in the marine market. He most recently served as senior vice ... Read the full article
Spring Partners hires Emma Stanford as Lead Underwriter
8th July 2021
Spring Partners, a joint venture from broker Aston Lark, has appointed Emma Stanford as Lead Underwriter. Stanford brings a wealth of experience in the Financial Lines Industry, most recently as Head of UK Financial Institutions at AXA XL. Spring has also confirmed that its capacity support for Financial Institutions with Beazley has ... Read the full article
Aon partners with insurtech Walbing on trade credit marketplace
8th July 2021
Re/insurance broker Aon has partnered with Hamburg-based fintech Walbing on the establishment of a service tailored for syndicated trade credit insurance. Those wanting to secure coverage will receive an offer directly via the new marketplace, with the respective contract concluded through Aon’s One Underwriting Agency. “In the midst of the corona pandemic, ... Read the full article
In raising $500m RenRe notes it could be used to replenish after catastrophes
8th July 2021
Bermuda domiciled reinsurer RenaissanceRe Holdings Ltd. (RenRe) has announced plans to raise $500 million via a share offering, the proceeds of which it says could be used to replenish its capital base after a catastrophe event. RenRe has agreed to sell 20 million depositary shares in an underwritten public offering, each ... Read the full article
SiriusPoint launches specialty MGA Banyan Risk with Usher-Jones
8th July 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced the launch of a new managing general agent (MGA) that will underwrite Directors & Officers (D&O) business, called Banyan Risk. Banyan has been established by Founder and CEO Tim Usher-Jones in partnership ... Read the full article
LMA promotes Patrick Davison to Underwriting Director
8th July 2021
The Lloyd’s Market Association has promoted Patrick Davison to the role of Underwriting Director as part of a long-planned succession with Jane Hayes, who will step into an executive director role. Davison has served as Deputy Underwriting Director for the past 18 months, leading the market’s response on both COVID-19 and ... Read the full article
AXIS Re hires Lopiccolo to drive global broker engagement
8th July 2021
AXIS Re the reinsurance business segment of AXIS Capital Holdings has appointed Matt LoPiccolo as Strategic Account Executive, Global Brokers for its client engagement initiative, AXIS Re Strategic Partners. LoPiccolo joins AXIS Re after serving as Head of US Digital Distribution within the company’s insurance segment. He will continue to be based ... Read the full article
Assurant details reinsurance coverage for 2021
8th July 2021
US specialty insurance group Assurant has detailed its 2021 property catastrophe reinsurance program, which provides $965 million of coverage in excess of a $80 million retention for a first event, with retention lowering to $55 million for a second and third event. The company decided to reduce its retention for certain ... Read the full article
Pool Re sets up systemic risks advisory group
8th July 2021
UK government-backed terrorism reinsurer Pool Re has announced the formation of a new expert advisory group to explore how to better protect the UK economy from systemic risks. Re:New will bring together figures from re/insurance, government, industry and academia to discuss how re/insurers, the private sector, public sector and the public ... Read the full article
Guy Carpenter announces two senior hires
8th July 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has appointed Matt Petka as Managing Director and Riley Underwood as Senior Vice President within its GC Access business unit. Petka will assume a senior leadership role within GC Access, where he will be responsible for overseeing solution development and client management. Alongside ... Read the full article
Moody’s turns stable on UK life sector
8th July 2021
Moody’s has decided to change its outlook on the UK life insurance sector to stable from negative, one year after the coronavirus pandemic resulted in a shift to negative The rating agency notes that the sector’s operating profit and capitalisation were resilient in 2020, and are expected to remain robust over ... Read the full article
CRC Group acquires Constellation Affiliated Partners
8th July 2021
CRC Group has closed on the acquisition of Constellation Affiliated Partners, more than doubling the size of its Specialty Programs Division and creates one of the largest program managers in North America. CRC Group’s new Specialty Programs Division now places more than $2.4B in premium across more than ten industry and ... Read the full article
Discipline holding as market balance returns: Willis Re’s Vickers
7th July 2021
James Vickers, Chairman of Willis Re International, has said that “discipline is still there,” even as the latest edition of the broker’s 1st View Report shows that recent reinsurance price increases have brought the market close to equilibrium. Speaking in an interview with Reinsurance News, Vickers noted that the reinsurance market ... Read the full article
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