Reinsurance News
Zurich hires Frank Verkerk as CPO
2nd July 2021
Global insurer Zurich has appointed Frank Verkerk to the new role of Group Chief Platform Officer. He joins the company next month from ABN Amro, where he was Chief Digital Officer and responsible for digital transformation. In his new role, Verkerk will focus on enabling open platforms with third parties for Zurich ... Read the full article
DARAG completes sale of active Italian business to NOBIS
2nd July 2021
Legacy acquirer DARAG Group has completed the sale of its non-legacy Italian business, DARAG Italia, to NOBIS Compagnia di Assicurazioni. The sale, first announced in October 2020, will help DARAG to focus exclusively on providing legacy solutions, as it looks to streamline its operations, the firm said. The relevant policies, distribution ... Read the full article
Prudential Financial sells Taiwan business to Taishin Financial
2nd July 2021
US insurance and investment firm Prudential Financial has completed the sale of its Taiwan based life insurance business to Taishin Financial Holding Co., Ltd., following a successful regulatory review. The sale of Prudential Life Insurance Company of Taiwan Inc was first announced back in August 2020, and saw the locally based Taishin ... Read the full article
Vantage CEO Hendrick to serve as interim Head of Insurance as Kuhn departs
1st July 2021
Vantage Risk Ltd., the recently launched Bermudian reinsurer, has announced that Jack Kuhn, Chief Executive Officer (CEO) of its insurance division, is stepping down from his role. Effective July 2nd, 2021, Vantage CEO Greg Hendrick will serve as interim Head of Insurance while continuing to lead the firm. Commenting on Kuhn's departure, ... Read the full article
Gallagher acquires employee benefits consulting firm Stellar
1st July 2021
Insurance broker Gallagher has announced the acquisition of Stellar Benefits, an Ohio-based employee benefits consulting firm. Founded in 2003, Stellar Benefits offers comprehensive health and welfare programs for businesses of all sizes, ranging from individual offices to multinational corporations. Ronald Rafal, Alan Greenberg and their associates will continue to operate from their ... Read the full article
Praedicat adds three litigations to its CoMeta tracker
1st July 2021
Emerging risk analytics company Praedicat has updated the litigation tracker in its CoMeta software product with the addition of three new mass litigations. The new mass litigations include PFAS (per- and polyfluoroalkyl substances), heavy metals in baby food, and paraquat, a herbicide alleged to cause Parkinson’s disease. These will be added to ... Read the full article
AXIS Re adds Partner Re’s Hanhart as EMEA & LatAm property underwriter
1st July 2021
AXIS Re has appointed Nicole Hanhart to the role of property underwriter for EMEA & Latin America, where she'll be responsible for underwriting a treaty portfolio. Hanhart joins AXIS Re after 20 years at Partner Re, where she was most recently a Senior Underwriter with the Global Catastrophe team. Her underwriting experience ... Read the full article
UnipolRe promotes John Scully to CUO
1st July 2021
Ireland-based reinsurer UnipolRe, owned by Italian financial services group UnipolSai Assicurazioni, has appointed John Scully as its new Chief Underwriting Officer. Scully has been promoted from his role as a Senior Underwriter in the business. He joined UnipolRe in October 2019 as an Underwriter and previously worked for TransRe as an Underwriter ... Read the full article
HX launches data-driven insurance platform NOVA
1st July 2021
HX, the data analytics and advisory division of Howden Group Holdings, has announced the launch of NOVA, an insurance business platform designed to give users a better understanding of the market and its underlying drivers. By amalgamating unique data sets - including proprietary Howden pricing and placement information, loss trends, regulatory ... Read the full article
Cat bond & related ILS issuance sets new record in Q2 2021 at $8.5bn: Report
1st July 2021
Catastrophe bond and related insurance-linked securities (ILS) issuance reached a record $8.5 billion in the second quarter of 2021, of which almost $6 billion or more than 70% covered property catastrophe risks, according to the Artemis Q2 2021 market report. The latest Artemis cat bond and ILS market report, ... Read the full article
Lockton hires Aon’s Raj Shourie to lead Political & Credit Risks Division
1st July 2021
Insurance broker Lockton has appointed Raj Shourie within the Political & Credit Risks Division. Shourie will be responsible for leading the engagement with financial institutions internationally out of London, for both credit mitigation and country risk protection. He joins Lockton from Aon, where he was the Financial Institutions Advisory Lead for Credit ... Read the full article
Fukushima quake largest insured loss outside US at $2.63bn: CRESTA
1st July 2021
CRESTA, the insurance industry organisation that provides a global standard for risk accumulation zones and industry losses, has reported that February’s Fukushima Earthquake is the largest insured loss recorded outside of the US so far in 2021, with costs estimated to be around $2.63 billion. In a Q2 update to its ... Read the full article
CII names Aston Lark CEO Blanc as President
1st July 2021
Industry body the Chartered Insurance Institute (CII) has announced the appointment of Aston Lark CEO Peter Blanc as President for 2022. Blanc also currently serves as non-executive chairman of Hastings Insurance Services Ltd, the broker arm of Hastings Direct, and up until recently served as chairman of the Large Brokers’ Advisory ... Read the full article
Marsh, Guy Carpenter announce key leadership exchange
1st July 2021
Re/insurance brokers Marsh and Guy Carpenter have announced a series of key leadership appointments, including Paul Moody’s transition to serve as the latter’s UK Chief Executive Officer. Moody joins on September 1 from Marsh, a company he’s served for over two decades. He will report to Dean Klisura, President, Guy Carpenter and ... Read the full article
Pandemic class actions filed against Lloyd’s and QBE
1st July 2021
Law firm Gordon Legal has initiated a Federal Court case against underwriters at Lloyd’s of London and filed a class action lawsuit against QBE in Australia over business interruption (BI) claims related to the pandemic, according to reports from the Australian Financial Review. Gordon Legal says the cases relate to claims ... Read the full article
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