Reinsurance News
BMS Re opts for Relay’s F1 electronic placement system
7th July 2021
The US reinsurance arm of specialist broker BMS has selected Relay’s F1 electronic placement system to support its push for further growth across the sector. The broker portal combines a range of features designed to increase the ease of doing business, facilitate and integrate quotes from all reinsurers, and reduce the ... Read the full article
Tokio Marine HCC Intl. adds trio to professional risks team
7th July 2021
Tokio Marine HCC International, a member of Tokio Marine Group, has announced the appointments of Matthew Clayton and Ross Thompson as Senior Underwriters and Jonathan Olle as Senior Media Property and Liability Underwriter, all within its Professional Risks team in London. Clayton joins after a 16-year stint at Hiscox, where he ... Read the full article
Ascot announces Boston Indemnity Company acquisition
7th July 2021
Bermuda-domiciled specialty re/insurer Ascot reached an agreement to acquire Boston Indemnity Company (BIC) from Great Midwest Insurance Company (GMIC), a subsidiary of Skyward Specialty Insurance Group. The acquisition has been described as an attempt to facilitate Ascot’s entry into the US contract and commercial surety market. It has also been stated that ... Read the full article
Aviation claims edging closer to normal as Covid loosens grip, says Allianz
7th July 2021
Inspired by an inevitable surge in domestic travel following the decline of COVID-19’s disruptive influence, global insurer Allianz has categorised the aviation industry as one largely on the rebound. However, as a rising number of aircraft return to the skies, Allianz' report highlights a number of potential challenges, including “rusty” pilots ... Read the full article
Miller names new Head of Renewable Energy and Environmental Technology
7th July 2021
Re/insurance broker Miller has appointed Rhys Newland as Head of Renewable Energy and Environmental Technology. Newland joined the company at the beginning of this month, and reports to Martin Henderson, Head of Energy. The newly created position signals Miller’s commitment to the fast-moving renewable energy sector as it continues to make high ... Read the full article
Rokstone launches $18m marine cargo facility
7th July 2021
Rokstone, the international speciality re/insurance MGA part of Aventum Group, has announced the launch of a new $18 million Global Facultative General Marine Cargo facility. The facility uniquely includes $5 million for niche selective cargo treaties and new reinsurance capacity solutions, and additional direct wholesale capacity is planned in the coming ... Read the full article
UK P&I Club creates new regional roles for claims handling
7th July 2021
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services to the international shipping community, has created a new role of Regional Claims Director in each of its main service hubs, to enhance global claims capability for members. Following the retirement of Global Technical Claims Director ... Read the full article
Hiscox adds SCOR’s Vincent Prabis to key ILS role
7th July 2021
Specialist insurer Hiscox has appointed Vincent Prabis to serve as Managing Principal within its Insurance Linked Securities (ILS) division. Prabis previously served as Head of ILS Strategies at SCOR Investment Partners. He will now be responsible for spearheading Hiscox’s evolution in the sector, ensuring investor demands for high-quality, innovative and diversified solutions ... Read the full article
Guy Carpenter launches new climate advisory & modelling services
7th July 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the launch of a suite of advisory and modelling services to help clients integrate climate change strategies into their Environmental, Social and Governance (ESG) programs. Key services include natural hazard risk assessment and risk modelling, exposure data enhancement, and adjustment ... Read the full article
Lockton Re adds WTW’s Kazimierz Layton to Specialty unit
7th July 2021
Lockton Re, the global reinsurance broking arm of Lockton, has announced that later this year, Kazimierz Layton will be joining its Specialty Division. For more than 15 years, Layton has been working in the Political Risk and Credit Insurance broking sector. Most recently, he served as an Executive Director at insurance broker ... Read the full article
Athene takes minority share in Australia’s Challenger
7th July 2021
Athene Holding Ltd. and Apollo Global Management have reached an agreement to purchase a 15% minority stake in Challenger Limited from an existing shareholder, marking their entry into the Australian retirement marketplace. Once completed and when combined with other Challenger shares acquired by Athene and Apollo, the acquisition of the 15% ... Read the full article
EIOPA sees “signs of deterioration” among reinsurers since pandemic
7th July 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has observed “signs of deterioration” in the European reinsurance sector, which it says could have long-term implications for the EU protection gap. The comments came as part of a new Financial Stability Report from EIOPA that addresses key financial stability risks in the ... Read the full article
Aon / WTW US antitrust trial to begin in November, possibly later
7th July 2021
A federal judge has told global brokers Aon and Willis Towers Watson (WTW) that their trial versus the Antitrust Division of the U.S. Department of Justice (DoJ) is unable to commence before November and could be delayed further owing to a backlog of cases. After the DoJ proposed a trial ... Read the full article
One Concern announces two senior hires
7th July 2021
One Concern has appointed Dr. Jeffrey Bohn as Chief Strategy Officer and Craig Fugate as Chief Resilience Officer. Both appointments will work closely with One Concern’s expert Advisory Board including Alice Hill, a Senior Fellow at the Council on Foreign Relations, and Steve Howard, Chief Sustainability Officer, Temasek International. Bohn served as ... Read the full article
North Queensland reinsurance pool could lower premiums up to 20%: RACQ
7th July 2021
The Royal Automobile Club of Queensland Limited (RACQ) says that, if implemented effectively, Australia's reinsurance pool could result in up to a 20% premium discount for homes in medium and high-risk cyclone areas. On May 4, 2021, the Federal Government of Australia announced a $10 billion fund in the form ... Read the full article
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