Reinsurance News
DoJ’s Feb 2022 trial date ‘untenable’ and prolongs uncertainty, says Aon/WTW
30th June 2021
Lawyers of global re/insurance brokers Aon and Willis Towers Watson (WTW) have described the US Department of Justice's (DoJ) proposal that its trial seeking to block their merger not commence until February of next year as "untenable". In an effort to stop the creation of what it calls a "broking behemoth", ... Read the full article
BHSI adds to D&O Liability and Professional Indemnity policies in Ireland
30th June 2021
Berkshire Hathaway Specialty Insurance (BHSI) has added to its suite of Directors & Officers (D&O) Liability and Professional Indemnity policies for customers in Ireland. The company has launched a new suite of Professional First coverages that includes Architects, Engineers & Consultants Professional Indemnity and Project Specific Professional Indemnity, Design & Construct ... Read the full article
AI enabled NOW Insurance partners with Hiscox
30th June 2021
AI-enabled insurance platform NOW has announced a partnership with Hiscox on medical malpractice insurance policies for health care professionals on its direct-to-consumer marketplace. Through Hiscox, health care professionals will be able to access medical malpractice insurance plans tailored to their specific needs and work requirements. Effective immediately, they can visit the Hiscox ... Read the full article
Insurance Europe endorses single market for data
30th June 2021
Insurance Europe has lent its support to the European Commission’s call to create a single market for data that combines information from public bodies, businesses and citizens. For insurers, the EU body says that a greater availability of data could lead to improved risk monitoring and assessment, better customer experiences and ... Read the full article
Guy Carpenter strengthens Non-Marine Specialty practice
30th June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the additions of James Johns as Managing Director and Joshua O’Donoghue as Senior Vice President (SVP) within its Non-Marine Specialty unit. Johns, who takes on his new role from August 12th, will operate as a leading broker and account executive ... Read the full article
FGRe inks contract with leading insurtech firm
30th June 2021
Reinsurance and investment management firm FG Financial Group has announced that its reinsurance subsidiary, FG Reinsurance (FGRe), has entered into a contract with a leading Insurtech company. This is FGRe’s second reinsurance contract written since FG Global launched the subsidiary in June 2020. The contract provides automotive insurance utilising driver monitoring to ... Read the full article
South Africa asks for further divestments in Aon / WTW remedy package
29th June 2021
The Competition Commission of South Africa (CCSA) has required that brokers Aon and Willis Towers Watson (WTW) make a number of significant divestments to remedy competition concerns before their pending merger can be approved in the country. The regulator has asked that the brokers divest WTW’s entire global reinsurance broking business ... Read the full article
Mosaic launches FI division
29th June 2021
Newly established specialty insurer Mosaic has launched its financial institutions division, set to underwrite risks globally through its London office. Coverage will be aimed at protecting a broad range of financial institutions from exposures caused by crime, damages payable to third parties and legal defense costs. Its D&O coverage is also designed ... Read the full article
Global Atlantic in $8bn reinsurance deal with Ameriprise Financial
29th June 2021
Life and annuity insurer Global Atlantic Financial Group has entered into a $8.0 billion annuity reinsurance transaction with financial services company Ameriprise Financial. The deal is comprised primarily of fixed-rate and income annuities alongside a smaller component of fixed index annuities, and was carried out through Global Atlantic subsidiaries Commonwealth Annuity ... Read the full article
Acrisure names Grahame Millwater Head of Global Insurance
29th June 2021
In an effort to expand and transform itself into a broader fintech financial services company, insurance broker Acrisure has appointed Grahame Millwater its new Head of Global Insurance. Acrisure plans to align its core insurance broker business around Millwater’s leadership and further diversify its portfolio in 2021 and beyond. Millwater most recently ... Read the full article
QBE Re eyes LatAm expansion with new Colombia office
29th June 2021
QBE Re, the reinsurance arm of the Australian insurer, has announced the opening of a new office in Colombia, as well as a key regional appointment. Located in Bogotá, Colombia the new office will write life reinsurance business and be led by Christian Hofmann, who has been appointed Client Manager (Latam ... Read the full article
Protecdiv closes first reinsurance deal with Sompo, BMS
29th June 2021
Specialty property and casualty re/insurance broker Protecdiv has announced the completion of its first transaction for Sompo International with strategic partner BMS Group. The transaction was conducted as part of the co-brokering partnership Protecdiv has with BMS Group and is the first transaction executed alongside BMS Re. Protecdiv first announced its ... Read the full article
US midsize mutual life insurers supported by higher levels of capital: Fitch Ratings
29th June 2021
The ratings for the midsize mutual peer group have continued to be supported by higher levels of capital relative to the broader life industry, reflecting the unique characteristics of mutual ownership, according to Fitch Ratings’ latest peer review of the sector. Compared with stock companies, these mutual insurers generally have a ... Read the full article
Simon Wilson to succeed Stovin as Markel Intl. President
29th June 2021
Financial holding company Markel Corporation has appointed Simon Wilson as president of Markel International. He will succeed William Stovin, who has led the subsidiary since 2008. The transition is part of a planned succession that will fully take effect no later than January 1, 2022. Stovin joined Markel as part of the ... Read the full article
MS Amlin Underwriting adds Richard Little to Marine Energy team
29th June 2021
Lloyd’s global specialty re/insurer MS Amlin Underwriting has announced the appointment of Richard Little as a Senior Underwriter within its Marine Energy Liability team. Little will take up the role later this year and report directly to Kevin Massey, Marine Liability Product Group Leader. He brings close to 20 years of industry ... Read the full article
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