Reinsurance News
SOMPO invests a further $45 million into One Concern
4th June 2021
SOMPO Holdings has agreed to launch the next phase of its strategic partnership with One Concern to develop the global resilience market. SOMPO will invest an additional $45 million in One Concern as part of the agreement, which will enable One Concern to expand its core capabilities in AI-enabled resilience solutions ... Read the full article
Hurricane risk landscape is becoming more complex: RMS
3rd June 2021
RMS' latest update to its North Atlantic hurricane model continues to evolve the science of hurricane risk modelling, as the changing climate, growing exposures and changing market conditions drive an increasingly complex risk landscape, according to Jeff Waters and Ben Brookes. The latest in our sister publication Artemis' series ... Read the full article
Allianz (AGCS) adds duo to North American financial lines team
3rd June 2021
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz, has announced the appointments of Robert Green as North American Regional Head of Professional Indemnity (PI) and Rick Hornby as Regional Product Lead for Financial Institutions (FI). Joining from AGCS London, Green will manage the underwriting, distribution and ... Read the full article
PartnerRe names Gallego as Head of Capabilities Development L&H
3rd June 2021
Bermuda domiciled reinsurer PartnerRe has appointed Pascale Gallego as Head of Capabilities Development for Life & Health. Gallego has worked at PartnerRe for just under 18 years. Prior to this transition Gallego worked as Deputy CEO of Europe, Middle East, Latin America, having previously worked as Head of Life Reinsurance France, Southern ... Read the full article
Hippo announces partnership with Cape Analytics
3rd June 2021
Hippo, a California-based insurtech focused on US home insurance, has partnered with Cape Analytics (Cape), a re/insurance data analytics provider, to advance Hippo's automated property analysis capabilities. Throughout this partnership, Hippo will continue to enhance its underwriting and ongoing risk management and mitigation insights to provide home protection. The insurtech firm will ... Read the full article
AXIS promotes Trivitt to Head Commercial & Strategic Partnerships, Intl.
3rd June 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has promoted Keith Trivitt to Head of Commercial & Strategic Partnerships within its International Division. In this newly created role, Trivitt will be responsible for maximising commercial initiatives and developing profitable strategic growth opportunities. He brings 15 years’ experience in business ... Read the full article
HDI Global SE hires Arvind Drubhra as Director of Operations, UK & Ireland
3rd June 2021
Primary commercial specialist HDI Global SE, UK and Ireland (HDI) has appointed Arvind Drubhra as Director of Operations. Drubhra will be responsible for HDI’s Technical Operations, Claims Operations, Global Servicing and IT & Change teams and will report directly to Managing Director Claire McDonald. He joins from AGCS, where he spent the ... Read the full article
Aon announces further $1.4bn divestment to appease US regulators
3rd June 2021
Re/insurance broker Aon has announced the sale of two businesses for a combined total consideration of $1.4 billion, during a week that has seen its acquisition of Willis Towers Watson scrutinised by the US Department of Justice (DOJ). As part of the newly-unveiled divestiture, Aon’s US retirement business will be ... Read the full article
CIAM urges SCOR to push Kessler out of Chairman role in 2022
3rd June 2021
In a new letter to the governance of SCOR, activist investor CIAM has argued that Denis Kessler should be allowed to serve as Chairman of the company for a transitional period only, which would end at the Annual General Meeting in 2022 when he reaches the statutory age limit. It follows ... Read the full article
Canada Life Reinsurance in $1.4bn co-insurance deal with Dai-ichi Life
3rd June 2021
Canada Life Reinsurance, a provider of reinsurance solutions for life and health, annuity, and property & casualty business, has entered into a new long-term coinsurance agreement with Dai-ichi Life. The deal covers JPY ¥125 billion (CDN$1.4 billion) of in-force liabilities on a portfolio of life insurance policies. Under the agreement, Canada Life ... Read the full article
Supercede platform aims to simplify outward reinsurance placements
3rd June 2021
Reinsurance tech firm Supercede has created a new platform for insurance carriers to manage their largest outward reinsurance placements. Supercede Analytics aims to simplify the way the industry manages and processes increasingly complex submission data by having insurers’ outwards reinsurance divisions prepare all the data relating to their placements. Currently, carriers mostly ... Read the full article
Olivier Gay takes over as President & CEO of SCOR Canada Reinsurance
3rd June 2021
French reinsurer SCOR has announced the appointment of Olivier Gay as President and Chief Executive Officer (CEO) for SCOR Canada Reinsurance Company, in addition to his role as Chief Underwriting Officer (CUO) for the business, effective June 11th, 2021. Gay takes over as President and CEO of the company from Paul ... Read the full article
TWIA secures $1.93b reinsurance tower for 2021, doubles cat bond size
3rd June 2021
The Texas Windstorm Insurance Association (TWIA) has released the details of its full catastrophe reinsurance program for the 2021 hurricane season, which consists of a $1.93 billion program tower, including $830 million of traditional reinsurance and $1.1 billion of coverage from catastrophe bonds. Combined with its $2.1 billion in statutory funding, ... Read the full article
DARAG announces key senior hires
3rd June 2021
European Legacy acquirer DARAG has announced key senior appointments to further broaden out its capabilities. The company has appointed Alastair Lauder as Group Chief Actuary who will be based in London. He most recently served as Syndicate Actuary at Arch Managing Agency (formerly Barbican), where he led the reserving team and oversaw ... Read the full article
EQC secures $7bn in earthquake reinsurance
3rd June 2021
The Earthquake Commission (EQC) has agreed a record-high reinsurance cover of nearly $7 billion on the international reinsurance market for the 2021/22 financial year. “We are extremely pleased we have been able to increase the cover for New Zealand homeowners despite the tougher international reinsurance market due to the impact of ... Read the full article
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