Reinsurance News
Innovative finance models needed to plug disaster funding gap: Howden
7th October 2021
Howden, the international insurance broker, plans to drive forward the use of innovative financing models to help plug the estimated $20 billion disaster relief funding gap by bringing the issue to the fore at the World Climate Summit. As an official partner of the Summit, Howden Group CEO, David Howden, will ... Read the full article
Canopius adds Richard Parker to co-lead expanded space division
7th October 2021
Global specialty re/insurer Canopius has appointed Richard Parker to serve as joint head of space alongside Chris Gibbs, and underwriting assistant Kelly Bromley. Both Gibbs and Bromley assumed their new roles in the US on October 1, making Canopius’ space team one of the largest in the market. Parker brings over 34 ... Read the full article
Resolution Life names Simon Woods as CEO
7th October 2021
Resolution Life, a long-term legacy life insurance solutions provider, has appointed Simon Woods as Group Chief Financial Officer. Woods will be responsible for the financial leadership of the business, including accounting, controlling, tax, investments, capital raising and deployment, debt strategy and management, and treasury services. He joins Resolution Life from EY in ... Read the full article
Lloyd’s Insurance Company appoints UK leadership
7th October 2021
Lloyd’s Insurance Company (LIC) has today announced a series of leadership appointments within its UK branch, including the addition of Mark Cooper as its head. LIC is Lloyd’s Belgian subsidiary authorised to carry insurance and reinsurance business in the European Economic Area (EEA). Cooper's appointment is effective 1 November and will see him ... Read the full article
Possible downgrade for Argo’s Lloyd’s Syndicate 1200
7th October 2021
Syndicate Research Limited has downgraded the B- (Below Average), negative outlook, Continuity Opinion of Lloyd's syndicate 1200 (Argo Managing Agency Limited) to C+ (Below Average) and placed the Continuity Opinion under review for possible downgrade. These actions are a result of mounting concerns regarding the group’s long-term commitment to the business. Syndicate ... Read the full article
Chubb appoints Kevin Rampe to lead North America claims
7th October 2021
Insurer Chubb has named Kevin Rampe Head of North America Claims, a role previously occupied by Bill Hazelton. Rampe previously served as Chubb's Global Deputy General Counsel and in his new role will oversee all aspects of Chubb's North America commercial and personal lines claims. Additionally, he will also oversee efforts to ... Read the full article
Workers’ comp lines set to feel pandemic impact over long-term: AM Best
7th October 2021
As the line most sensitive to economic cycles, analysts at AM Best expect that workers’ compensation lines will continue to experience the negative impacts of the COVID-19 pandemic acutely over the long-term. The economic downturn caused by the pandemic caused massive unemployment in the US and had a material effect on ... Read the full article
MS Amlin (MS AUL) hires Stuart Forsyth as Lead Class Underwriter for Hull
7th October 2021
MS Amlin Underwriting Limited (MS AUL), the Lloyd’s global specialty insurer and reinsurer, has appointed Stuart Forsyth as Lead Class Underwriter for Hull. Forsyth will take up the role mid-October and report directly to Laurence Humberstone, Head of Marine. He brings more than 30 years of experience across underwriting and broking within ... Read the full article
LSM adds new business development lead in Italy
7th October 2021
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Simone Jurina as Business Development Manager, LSM Italy, based in Milan. Jurina will be responsible for all aspects of business development including market engagement and broker relationship management. He reports to ... Read the full article
Aon launches Ransomware Defence to improve cyber preparations
7th October 2021
Re/insurance broker Aon has announced the launch of Ransomware Defence, a solution that brings the firm’s Aon’s cyber security expertise and capabilities together into one solution to help mid-market organisations improve their cyber preparedness. Aon notes that insurers are experiencing mounting losses, largely driven by the proliferation of ransomware, with the ... Read the full article
AXA XL Insurance promotes Michael Takigawa
7th October 2021
AXA XL Insurance has announced the appointment of Michael Takigawa as its new Head of Commercial E&O for the Americas region. Takigawa is based in San Francisco and Monterey, where he will oversee the underwriting strategy and product innovation for AXA XL's Commercial E&O business in the region. He joined AXA XL ... Read the full article
Corvus adds Vincent Weafer as CTO
7th October 2021
AI-driven commercial insurer Corvus has announced the appointment of Vincent Weafer as its new Chief Technology Officer, bringing over 25 years’ experience to the role. Weafer was most recently Senior Vice President of Cyber Engineering at Capital One, where he led a multi-disciplined team of cyber, technology, and machine learning engineers ... Read the full article
RLI announces Q3 cat losses of up to $35mn, net of reinsurance
7th October 2021
U.S. property and casualty insurance company, RLI Corp., has pre-announced estimated pre-tax catastrophe losses of between USD 30 million and USD 35 million for the third-quarter of 2021. RLI is scheduled to release its third-quarter 2021 financials after the market closes on October 20th. The insurer's loss range of USD 30 million ... Read the full article
CoreLogic hires Next Gear Solutions founder to lead combined claims
7th October 2021
Catastrophe risk modeller CoreLogic has appointed Garret Gray, Founder and CEO of recently acquired Next Gear Solutions, to lead the company’s combined claims operations. CoreLogic completed the acquisition of Next Gear Solutions, a market leader in digital workflow platforms and solutions for the property restoration industry, in September 2021. The transaction brought ... Read the full article
Swiss Re joins insurtech Getsafe’s $93m Series B
7th October 2021
Swiss Re was among the participants in the extended Series B funding round of digital insurer Getsafe, which secured another $63 million in funds, bringing the Series B total to $93 million. IptiQ, Swiss Re’s digital B2B2C provider of bespoke insurance solutions, previously led the initial Series B funding round ... Read the full article
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