Reinsurance News
ICEYE adds Global Head of Insurance Solutions
7th October 2021
ICEYE, a builder and operator its own commercial constellation of SAR satellites, has named Lisa Wardlaw as Global Head of Insurance Solutions, and Daniel Stander as a Senior Advisor. The company owns and operates the largest synthetic-aperture radar (SAR) constellation in the world and offers solutions focused on the unique needs ... Read the full article
David Bruce named as CEO of Marsh Commercial
7th October 2021
Insurance broker and risk advisor Marsh has announced the appointment of David Bruce as Chief Executive Officer of Marsh Commercial. Effective January 1, 2022, Bruce will also join Marsh’s UK & Ireland Executive Committee. Bruce joined Marsh Commercial in 2018 as Chief Operating Officer and has held a number of senior broking ... Read the full article
AXIS Insurance reshuffles Capital Risk Solutions team
7th October 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has made three appointments within its Capital Risk Solutions (CRS) team. Jim Parker and Richard Jelf, both Senior Underwriters, will focus on growing the project finance and aircraft finance portfolio as well as strengthening existing relationships and driving business growth. Both ... Read the full article
EIOPA sets out its strategic priorities for 2022
7th October 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has outlined its strategic priorities for the coming year, with the goals of ensuring consumer protection and safeguarding financial stability. Activities take into account the ongoing effects of COVID-19, the market situation and political priorities, in particular supporting the digital and green recovery. The ... Read the full article
Lockton agrees to acquire the Edge Group
7th October 2021
Independent insurance broker Lockton has entered into an agreement to acquire the Edge Group. Edge Group is the largest independent marine broker in the Scandinavian market, with an estimated 2% share of the global marine insurance market. Its acquisition will complement Lockton’s existing marine footprint in the Mediterranean and Singapore and will ... Read the full article
Coalition acquires Attune
7th October 2021
Coalition, a cyber insurance and security provider, has acquired Attune, a managing general agent (MGA) and technology-powered broker platform for commercial insurance. This acquisition brings both companies together to offer digitally-powered insurance that can leverage vast amounts of data to assess, mitigate and eliminate risk for businesses. Coalition will expand the reach ... Read the full article
Climate transition plans vital as risk of fuel poverty looms: Swiss Re
6th October 2021
Swiss Re has underlined the “urgent need” for orderly climate change transition plans that invest more into renewables, as the energy crisis in Europe threatens to give rise to ‘fuel poverty’ and increase social tensions. In a new report, analysts note that energy prices have skyrocketed in recent weeks, as shortfalls ... Read the full article
Cowbell Cyber gets fronted reinsurance capacity via Palomar
6th October 2021
AI-powered cyber insurer Cowbell Cyber gained fronted reinsurance capacity via a new strategic partnership with Palomar Excess & Surplus Insurance Company. Palomar announced earlier this month that it was entering the fronting sector of the US market with a new venture called PLMR-FRONT. This new multi-year agreement with Cowbell is backed ... Read the full article
Safety National Re makes senior reinsurance appointments
6th October 2021
Safety National Casualty Company, a specialty provider of insurance and reinsurance and member of the Tokio Marine Group, has announced a series of appointments within its reinsurance lines. Firstly, Bob King, formerly Senior Vice President and Chief Underwriting Officer of Treaty Reinsurance, has been appointed as Executive Vice President of Treaty ... Read the full article
Enstar closes £400mn ADC with RSA
6th October 2021
A subsidiary of legacy specialist Enstar has closed a previously announced agreement with Royal & Sun Alliance Insurance (RSA) to provide adverse development cover (ADC) for certain UK, Irish, and other business of RSA and its subsidiaries. This deal was first announced this year in July and was expected to ... Read the full article
Aon announces historic Hong Kong cat bond
6th October 2021
Global re/insurance broker Aon has structured and placed the first catastrophe bond issued from a Hong Kong domicile. Executed by Aon Securities (Hong Kong), the cat bond was sponsored by non-life reinsurance firm China Property & Casualty Reinsurance Company and provides $30 million-per-occurrence typhoon catastrophe protection. Aon states that a meaningful percentage ... Read the full article
Howden acquires CHB Insurance Brokers
6th October 2021
Howden, the international insurance broker, has acquired CHB Insurance Brokers (CHB), one of the pre-eminent Property & Casualty brokers in the Baltic region. The acquisition marks Howden’s expansion into the Baltic market as it continues to build out its international platform and expand its retail operations across Europe to support both ... Read the full article
Chubb announces senior promotions
6th October 2021
Chubb has appointed Peter Tucker to a newly created position within its North America Field Operations, as Executive Vice President, National Distribution. In his new role, Tucker will be responsible for overseeing Chubb's enterprise-wide engagement with key brokerage and agency partners that are consolidating from traditionally independent companies into national or ... Read the full article
Lockton Financial Services adds new cyber leadership for Pacific region
6th October 2021
Lockton Financial Services (LFS), a division of the global re/insurance brokerage focused on the financial services industry, has announced the additions of Elissa Doroff and Akhil Chopra to help lead its Pacific Series cyber practice. As Managing Director—Cyber Product Leader, Doroff will be focused on driving product innovation and thought leadership ... Read the full article
EU reinsurers urge UK regulator to delay Solvency II changes
6th October 2021
Insurance Europe’s Reinsurance Advisory Board (RAB) has urged the UK’s Prudential Regulation Authority (PRA) to either extend its Temporary Permissions Regime (TPR) or wait until the Treasury's review of Solvency II is finalised before making changes to its regulatory requirements. A recent consultation conducted by the PRA outlined proposed changes to ... Read the full article
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