Reinsurance News
Euler Hermes makes key changes within its Board of Management
25th May 2021
Trade credit insurer Euler Hermes group, has announced key changes within its Board of Management and Regional Management teams. Michele Pignotti, a member of the Group Board of Management who’s in charge of Market Management, Commercial and Distribution, will be leaving the company in June to pursue new challenges within Solunion ... Read the full article
Protective Life appoints Michael Morrissey as Chairman
25th May 2021
Protective Life Corporation, a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc., has announced the appointment of Michael J. Morrissey as Chairman of its Board of Directors. Morrissey has served on Protective’s Board of Directors since May 2020 and previously served as President and Chief Executive Officer of the International ... Read the full article
US insurance industry reports $7.5tn in cash and invested assets: NAIC
25th May 2021
According to a National Association of Insurance Commissioners (NAIC), the US insurance industry reported a total of $7.5 trillion in total cash and invested assets at the end of last year, showing an increase of 7.7% compared to 2019. The NAIC report also noted that cash and invested assets have grown ... Read the full article
AGCS welcomes Zurich’s Carol Laufer to lead NA liability
25th May 2021
Allianz Global Corporate & Specialty (AGCS) has announced two appointments within its North America Executive Management Team (EMT), including new Regional Head of Liability Carol Laufer. Laufer replaces Dieter Hautzer, who is due to retire following a 30-year career with the firm. She joins from Zurich North America having served as US ... Read the full article
GuideOne National makes two senior property hires
25th May 2021
GuideOne National, a specialty insurance subsidiary of GuideOne Mutual Insurance Company, has announced the appointments of Nick Batten as Vice President of Specialty Property, and Joseph Simeoni as Lead Property Underwriter, effective immediately. Batten joins GuideOne National from FM Global, where he most recently served as Vice President, Manager Global Services ... Read the full article
Sompo Intl. hires Zurich’s Shea to succeed retiring Charman
25th May 2021
Sompo International Holdings has appointed James Shea as Executive Chairman of the Board of Directors and he will also become Chief Executive Officer (CEO) of Overseas Insurance and Reinsurance Business for Sompo, succeeding John Charman who has been with the company for eight years. Shea’s appointments will take place in September, ... Read the full article
Organisations continue to overlook threats posed by emerging risks: Marsh
25th May 2021
A new report by insurance broker Marsh claims that the majority of large and midsize organisations continue to disregard the rising threat posed by a range of emerging risks, overlooking the impact these could have on their businesses. Based on a global survey of nearly 1,000 organisations, the report picked up ... Read the full article
New Zealand extends Aon / WTW merger decision to July
25th May 2021
The New Zealand (NZ) Commerce Commission has failed to reach a decision on whether to approve the merging of Aon and rival Willis Towers Watson (WTW) by its deadline of May 25th, so has extended the date a decision is due by to July 2nd. New Zealand's Commerce Commission had launched ... Read the full article
Chaucer names Kelan Hunt Deputy Active Underwriter
25th May 2021
Specialty re/insurance group Chaucer has appointed Kelan Hunt to the role of Deputy Active Underwriter, succeeding the soon to be retired Ed Lines. Hunt brings over 30 years’ experience to the role, having joined Chaucer in 2015 to lead its Energy division. In 2019 he took on the additional responsibility of leading ... Read the full article
Boost secures $20mn in Series B funding
25th May 2021
B2B digital insurance platform Boost has completed a $20 million Series B financing round in an effort to fuel growth of its platform, new product development and partner marketing. The round was led by RRE Ventures and included new investors and a global publicly traded reinsurance company, bringing total funding since ... Read the full article
Africa Specialty Risks launches parametric underwriting division
25th May 2021
Pan-African focused reinsurance group Africa Specialty Risks has announced the launch of its parametric division, alongside the appointment of Dr Raveem Ismail as Head of Parametric Underwriting and Ian Bishop as Parametric Product Manager. ASR Parametric has been established to combine underwriting, technology and analytical expertise to offer innovative risk solutions. Cover will ... Read the full article
KBW reports satisfactory, albiet unspectacular 6/1 pricing expectations
24th May 2021
Reinsurance executives’ 6/1 reinsurance renewal pricing expectations remain satisfactory but unspectacular, according to a new KBW report. Florida renewals are expected to end up at 5-10%, with bigger increases on loss-impacted accounts. One executive anticipated 20-30% increases for Florida- focused property insurers whose expansion into other Gulf states proved less diversifying than ... Read the full article
Desai and Spenner join Mosaic Insurance as SVP’s, M&A
24th May 2021
Mosaic Insurance has appointed Stavan Desai as Senior Vice President (SVP), M&A Team Leader and Katherine Spenner as SVP, Chief Legal Officer, M&A as the new insurer builds out its transactional liability team in the United States. Both will be based in New York and report to William Monat, a prominent ... Read the full article
NFIP reform bills target stronger reinsurance program
24th May 2021
Four bills reintroduced this week to the US congress have proposed a number of reforms to the National Flood Insurance Program (NFIP), among which is the strengthening of FEMA’s authority to purchase reinsurance. The bills were put forward by Missouri Congressman Blaine Luetkemeyer, who asserted that the NFIP has been “mismanaged ... Read the full article
Arch appoints Christine Todd CIO
24th May 2021
Arch Capital Group has appointed Christine Todd to the role of Chief Investment Officer, effective June 7. Todd will report to Chief Executive Officer Marc Grandisson and have responsibility for setting the firm’s investment strategy and managing the day-to-day operations of the investment portfolio. She succeeds W. Preston Hutchings, who is retiring ... Read the full article
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