Reinsurance News
Ballantyne adds Robert Ralf as Divisional Director, FL
26th May 2021
Independent London broker Ballantyne has announced the appointment of Robert Ralf as Divisional Director, Financial Lines, reporting to Richard Spragg, Co-Founder and Director of Broking. Ralf has worked for a number of leading brokers including Aon, AFL Broking Ltd and Ed Broking where he was Divisional Operating Officer for Specialty and ... Read the full article
Upland Capital adds Mark Jones as Chief Risk Officer
26th May 2021
Upland Capital Group, the E&S casualty, property, and specialty insurance provider that launched earlier this year, has announced the appointment of Mark Jones as its Chief Risk Officer, Chief Actuary, and Head of Analytics. In this role, he will manage the enterprise risk of the organization, reporting to the company’s ... Read the full article
BGC in $500mn sale of brokerage business to Ardonagh
26th May 2021
BGC Partners has entered into an agreement to sell its Insurance Brokerage business for $500 million to The Ardonagh Group. Ed Broking Group and Besso Insurance, recently grouped together under the brand of Corant Global, comprise of global wholesale and specialty re/insurance broker Ed, Lloyd’s broker Besso, aviation specialist Piiq Risk ... Read the full article
RAA welcomes government’s $1bn FEMA pledge
26th May 2021
With this year’s Hurricane season rapidly approaching, the Reinsurance Association of America (RAA) has welcomed the Biden Administration’s pledge for $1 billion in funding for the Federal Emergency Management Agency’s (FEMA’s) Building Resilient Infrastructure and Communities program. The program was created in order to help communities better prepare for extreme weather ... Read the full article
Aspen names William Miller its Chief Actuarial Officer
26th May 2021
Aspen Insurance has added William Miller as its new Group Chief Actuarial Officer, effective July 1. Prior to this he spent 12 years at Chubb legacy ACE, where he was latterly Chief Actuary for its Risk Management & Foreign Casualty divisions. Miller's actuarial career spans 35 years within the non-life sector and ... Read the full article
BMS launches operations in Turkey
26th May 2021
BMS, the independent specialist insurance and reinsurance broker, has announced the establishment of BMS Sigorta ve Reasürans Brokerliği A.Ş (BMS Turkey), a new unit headquartered in Istanbul. Chairman Servet Gurkan, together with Tamer Saka and Kerim Gurkan, will lead the new operation which will report in London to Peregrine Towneley, Chairman ... Read the full article
Aviva’s Colm Holmes to succeed Dye as Allianz UK CEO
26th May 2021
Allianz Holdings plc, the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain, has announced the appointment of Colm Holmes as its next Chief Executive Officer (CEO). Holmes, who currently serves as CEO of Aviva General Insurance, will take over the role from outgoing CEO ... Read the full article
Industry expecting Tokyo Olympics cancellation as pressure mounts
26th May 2021
Few could have foreseen the drama and controversy that awaited Japan after its Olympic ambitions were ignited by a 2013 bid successful in fending off competition from Spain and Turkey. We're just two months out from its already-postponed start date and the feeling among our extensive re/insurance industry contact base is ... Read the full article
Peak Re names Matteo Cussigh as CEO of Swiss unit
26th May 2021
Peak Reinsurance Company (Peak Re) has promoted Matteo Cussigh to the role of Chief Executive Officer (CEO) for its Zurich-based subsidiary, Peak Reinsurance AG (Peak Re AG) and Head of Marketing & Production, Europe, Peak Re. Cussigh brings over 20 years of experience in both traditional reinsurance and alternative risk solutions ... Read the full article
Reinsurance rate growth to boost run-off market: KBW
26th May 2021
According to reports from Keefe, Bruyette & Woods (KBW), industry executives are optimistic about the prospects for the run-off reinsurance market, which they say should benefit from rising pricing trends. KBW recently hosted a series of meetings with Florida and Bermuda re/insurance executives about their outlook on various sectors of the ... Read the full article
Generali opens new representative office in Brussels
26th May 2021
Generali has opened a new representative office in Brussels to study the activities of European institutions and strengthen the EU public affairs activities whilst contributing to sustainable recovery and the European Green Deal. The Italian insurer launched a € 3.5 billion plan which will be delivered through a range of funds ... Read the full article
P&C insurers struggling to keep pace with customer expectations, says J.D. Power
25th May 2021
A survey conducted by J.D. Power has shown that overall customer satisfaction with insurers’ digital offerings hasn’t improved this year, despite industry-wide improvements in best-practice competency. With an increasing amount of property and casualty (P&C) insurance customers, followed by the migration to more digital channels during the past year, expectations for ... Read the full article
Pro Global hires Lorraine Mojica as US Head of Audit
25th May 2021
Re/insurance solutions provider, Pro Global Holdings has appointed Lorraine Mojica as its new US Head of Audit. Prior to this appointment, Mojica was Assistant Vice President at Northshore International Insurance Services and brings over 20 years of industry experience. Throughout her career, Mojica has delivered technical insurance consulting services, operational reviews of ... Read the full article
Vermont Governor signs update to insurance legislation
25th May 2021
Vermont Governor, Phil Scott, has recently signed a new legislation making changes within its insurance and captive insurance statutes to help minimise the number of items before the legislature. The bill makes several updates to Vermont’s captive law, including clarifying the ability for a cell to convert to another type of ... Read the full article
Premiums for standalone cyber policies grew over 28% in 2020: AM Best
25th May 2021
According to a new report by rating agency AM Best, the ransomware attack on US energy firm Colonial Pipeline has impacted the cyber insurance segment, with premiums for standalone cyber policies growing beyond 28% in 2020. The report highlighted that the higher rate of growth for standalone policies gives an indication ... Read the full article
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