Reinsurance News
Aston Lark moves to acquire The Health Insurance Company
23rd September 2021
Chartered insurance broker Aston Lark has agreed terms to acquire the clients of The Health Insurance Company, a move aimed at strengthening the group’s health insurance expertise. With further acquisitions planned, this move is seen as a further step in Aston Lark's efforts to continually expand its Employee Benefits and Healthcare ... Read the full article
Swiss Re and Claim Genius partner on AI motor solution
23rd September 2021
Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article
Skuld announces senior appointments within London office
23rd September 2021
Marine insurer Skuld has made senior appointments within its London office, naming Matthew Burton as senior vice-president (SVP), global business development. Burton will report to chief business development officer, Gregory Thomas. Thomas said: “Matt’s new role really seeks to emphasise our overall growth ambitions on a global level. “His work in Skuld London ... Read the full article
Insurtech firm bolttech secures $210mn in extended funding round
23rd September 2021
Insurance technology firm bolttech has secured an additional $30 million after extending its recently announced $180 million series A funding round, which was led by Activant Capital Group. The extended funding round saw the addition of two new strategic investors, Singapore-based global investor EDBI and Alma Mundi Insurtech Fund, Spain ... Read the full article
Earnings for US P&C insurers materially improved in H1: Fitch
22nd September 2021
According to a new report from Fitch Ratings, statutory earnings for U.S. property/casualty (P&C) insurers materially improved in the first half of this year, with better underwriting performance tied to higher commercial lines pricing and diminishing effects of pandemic-related losses, as well as outsized investment gains. Fitch noted that the industry ... Read the full article
Ross Bowie promoted to Orchid Chief Underwriting Officer
22nd September 2021
Independent managing general underwriter Orchid Underwriters Agency (OUA) has promoted Ross Bowie to Chief Underwriting Officer, consolidating underwriting responsibilities across the company’s personal lines segments and positioning for further growth in one of its core businesses. Steve Carlsen, CEO of Orchid Insurance, commented, “The promotion of Ross Bowie to OUA Chief ... Read the full article
Vesttoo hires Daniel Butzbaugh as VP of catastrophe markets
22nd September 2021
Vesttoo has appointed Daniel Butzbaugh as Vice President, Catastrophe (CAT) Markets. He joins Vesttoo from Stonybrook Capital where he was Vice President and Head of the Industry Loss Warranty (ILW) Desk. Butzbaugh brings over 20 years’ experience in the re/insurance-linked investment sector. Prior to Stonybrook, he worked in reinsurance, insurance-linked investment and ... Read the full article
The Hanover Q3 cat losses could reach $165m, nearly half from Ida
22nd September 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has released a preliminary estimate of its catastrophe losses for the third quarter of 2021, which it says will be in the range of $150 million to $165 million, before tax. Estimated losses from Hurricane Ida alone are approximately $75 ... Read the full article
UK Gov launches £800mn reinsurance scheme for live events
22nd September 2021
The UK Government has officially launched its £800 million reinsurance scheme to cover COVID-related cancellation costs for live events, backed by a number of Lloyd’s Market Association (LMA) players. The scheme will support live events across the country - such as concerts and festivals, conferences and business events - that ... Read the full article
Howden hires Swiss Re’s Stanley Cochrane as Head of Energy Transformation
22nd September 2021
International insurance broker Howden has appointed Stanley Cochrane as Head of Energy Transformation. Cochrane joins Howden from Swiss Re, where he spent 30 years as a property underwriter, specialising in energy, natural resources and complex risks. Most recently, he spent six years in Singapore as Head Property & Specialty Asia Pacific. He will ... Read the full article
Amwins Global Risks names Head of Construction & Engineering
22nd September 2021
Amwins Global Risks, the specialist insurance and reinsurance broker, has announced the appointment of Gary Keenan as Head of Construction & Engineering. He will take over from current managing director, Steve Willsmer, who retires at the end of this year. Keenan joins Amwins from from Ed Broking where he held the role ... Read the full article
Atrium names Mike MacColl as Head of Hull & War
22nd September 2021
Atrium Underwriting, the managing agent for Lloyd’s Syndicate 609, has announced the appointment of Mike MacColl as Head of Hull and War. MacColl has over 35 years’ experience in the marine market having started his career at Lloyd’s Claims Office. He joins Atrium from AXA XL where he held the position of ... Read the full article
Beazley promotes Rachel Turk to Group Head of Strategy
22nd September 2021
Specialist insurer Beazley has appointed Rachel Turk to the newly created position of Group Head of Strategy, a role which sees her join the firm's executive committee with immediate effect. Turk joined the company back in 2009 as a D&O underwriter in Specialty Lines, later becoming Focus Group Leader in 2015, ... Read the full article
Legal & General enters £250m buy-in transaction with Selecta UK Pension Plan
22nd September 2021
Legal & General has agreed a £250m buy-in transaction with the Selecta UK Pension Plan securing the benefit payments of approximately 1,000 pensioners and 1,000 deferred members. Selecta UK is Europe’s leading coffee and vending machine operator. The Plan has an existing relationship with Legal & General, having worked with Legal ... Read the full article
Effective reinsurance utilisation to reduce Provinzial’s Bernd losses: Fitch
22nd September 2021
Primary German insurer Provinzial is expecting gross claims of at least €1 billion from the flooding in the country in July, although the company's net hit should come down considerably thanks to its effective use of reinsurance, reports Fitch. In early August, Provinzial estimated that losses from Storm Bernd would ... Read the full article
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