Reinsurance News
Davies acquires Lloyd’s MGA Asta
8th September 2021
Specialist professional services and technology firm Davies has acquired Lloyd's third party managing agent Asta in an effort to add strength and reach to its global insurance services practice. London-based Asta was key in the development of Lloyd’s recent Syndicate-in-a-box (SIAB) framework and is seen as a way to widen Davies' ... Read the full article
Ryan Specialty exec Tom Clark to step down
8th September 2021
Ryan Specialty Group has announced the resignation of Tom Clark, who currently serves as Chief Executive Officer (CEO) of RSG Underwriting Managers. Clark will step down from his position as CEO of Ryan Specialty’s underwriting management business from September 30th, 2021. The company confirmed that Clark is leaving for personal reasons, and ... Read the full article
Tremor hits $500bn reinsurance capital milestone
8th September 2021
Programmatic re/insurance risk transfer marketplace Tremor surpassed $500 billion in reinsurance capital this month after signing its 115th reinsurer to its marketplace. Tremor says that it now provides insurance companies with direct access to more than 95% of the world’s reinsurance capacity across traditional reinsurers, Lloyd’s syndicates and ILS funds. In addition, ... Read the full article
Midwest hires Georgette Nicholas as President and CFO
8th September 2021
Technology-enabled, services-oriented life and annuity Midwest Holding has appointed Georgette Nicholas as President and Chief Financial Officer. Nicholas brings over 30 years of experience in the global financial services industry including insurance, reinsurance and capital markets. She has previously held the position of CEO and Managing Director for Genworth Mortgage Insurance Australia, ... Read the full article
UK care sector MGA Nivante launches on NuVenture platform
8th September 2021
London-based managing general agency (MGA) platform NuVenture has announced the launch of Nivante, a new MGA that will provide specialist combined insurance products for the UK care sector. Available only through brokers, Nivante will deliver liability, property damage, and medical malpractice solutions to a range of care organisations. The MGA is co-founded ... Read the full article
BMS adds Stephan Simon to Private Equity, M&A and Tax unit
8th September 2021
BMS, the independent specialist re/insurance broker, has appointed Stephan Simon as a director and head of warranty and indemnity insurance in the Private Equity, Mergers & Acquisitions (M&A) and Tax Insurance division. He will report to Tan Pawar, managing director and head of Private Equity, M&A and Tax for BMS in ... Read the full article
R&Q enters loss portfolio & reinsurance business transfer with Delvag
8th September 2021
Randall & Quilter Investment Holdings has announced that with the assistance of Black Forest Reinsurance Consulting (BFRC) and Guy Carpenter, it has transacted a Loss Portfolio Transfer of reinsurance business with Delvag Versicherungs-AG (Delvag). With this transaction Delvag reaches economic finality of a third-party reinsurance portfolio amounting to around EUR 22million ... Read the full article
SCOR unveils ambitious growth targets for 2022
8th September 2021
SCOR has unveiled a new set of ambitious growth targets as part of its strategic plans for 2022, which include a significant boost to premiums within its P&C business, as well as an increased focus on natural catastrophe lines of business. Alongside its Investor Day 2021, the reinsurer said it plans ... Read the full article
Climate change is front and centre for reinsurers, say Aon execs
8th September 2021
As industry losses from so-called secondary perils such as wildfires, winter storms and floods continue to rise, coupled with the expectation of more frequent and severe events in general, climate change is "front and centre in most people's thinking," according to Andy Marcell, Chief Executive Officer (CEO) of Aon's Reinsurance ... Read the full article
Life insurers operating income rises by 65% in H1: Fitch Ratings
8th September 2021
According to a new report from Fitch Ratings, pretax operating income rose approximately 65% on an aggregate basis in the first half of 2021 compared the first half of last year. The increase reflects strong net investment income driven by alternatives, improved mortality experience, and higher account values from strong equity ... Read the full article
B3i to deliver DLT reinsurance solution for nuclear pools
8th September 2021
The Blockchain Insurance Industry Initiative (B3i) has been appointed to develop Distributed Ledger Technologies (DLT)-based solutions for the management of inter-pool reinsurance contracts. Six nuclear pools in North-Western Europe, namely France, Germany, Spain, Switzerland, UK and the Nordics (Sweden and Finland) hope to benefit from increased contract certainty, process efficiency and ... Read the full article
RenRe & Vantage back Tower Hill’s new reciprocal insurer
8th September 2021
Florida-based Tower Hill Insurance Group has announced the launch of a new reciprocal insurance entity called Tower Hill Insurance Exchange (THIE), which is backed by entities controlled by Gallatin Point Capital, Vantage Group Holdings, and RenaissanceRe. The new carrier launches with an initial capital commitment of more than USD 200 million ... Read the full article
Global reinsurance capital and ROE increased in H1: Willis Re
8th September 2021
Global reinsurers performed well in the first half of 2021, with a further expansion of their capital bases and strong headline underwriting results and Return On Equity’s (ROE), according to Willis Re. Underlying ROEs, while less strong, still showed an improvement, with total capital dedicated to the global reinsurance industry measuring ... Read the full article
Brown & Brown agrees to acquire Berkshire Insurance Group
8th September 2021
Berkshire Hills Bancorp, and Brown & Brown Massachusetts have entered into a definitive agreement for the sale of the assets and operations of Berkshire Insurance Group, (BIG), a subsidiary of Berkshire Hills. The transaction is subject to customary conditions and is expected to be completed in the third quarter. BIG provides insurance ... Read the full article
Munich Re’s HSB adds Mathew Prentice as Cyber Product Lead
8th September 2021
Munich Re-owned specialist engineering and technology insurer HSB has added Mathew Prentice to support its computer and cyber product range offering. Prentice will be responsible for the development and implementation of HSB’s underwriting strategy for the computer and cyber account in the UK and Ireland. Based in Birmingham and reporting to Andy ... Read the full article
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