Reinsurance News
Marsh arranges $1bn+ insurance programme for OneWeb
2nd September 2021
OneWeb, the low Earth orbit (LEO) satellite communications entity, has extended its collaboration with global brokerage Marsh with a new $1 billion+ insurance programme. This agreement was placed with a panel of leading specialist insurers through Marsh, and is for an aggregate insured value of over $1 billion. The global insurance and ... Read the full article
Innovative approaches to insurance-linked investments: Register for live webcast
2nd September 2021
Artemis, our insurance-linked securities (ILS) focused sister site, has partnered with Vesttoo to bring you another live webcast. This time, the discussion will focus on opportunities to access high frequency, low severity Life and Property & Casualty (P&C) insurance asset classes. Register online here to secure your place ... Read the full article
Flooding in New York & New Jersey could lift hurricane Ida re/insured loss: report
2nd September 2021
After battering Louisiana as a Category 4 hurricane, storm Ida has caused severe flooding in New York and New Jersey which could add to the insurance and reinsurance industry loss, although this is still expected to remain under $25 billion, say analysts at Keefe, Bruyette & Woods (KBW). After making two ... Read the full article
Swiss Re to launch central cyber underwriting team
2nd September 2021
Global reinsurer Swiss Re is set to create a central cyber underwriting team, led by AXA XL's John Coletti, that will assume responsibility for group's product development and underwriting activities in the space. Coletti will join Swiss Re as Head of Global Cyber in early October and previously served as the ... Read the full article
Zurich hires Caroline Dunn as CUO, UK
2nd September 2021
Global insurance group Zurich has appointed Caroline Dunn as Chief Underwriting Officer for its UK branch to lead its underwriting strategy across all lines of business. Dunn will join the Zurich team in November, following Hayley Robinson’s recent promotion to the role of Chief Group Underwriting Officer at Zurich Insurance Group. She ... Read the full article
Canopius lines up Gavin Phillips as its next CFO
2nd September 2021
Global specialty re/insurer Canopius has appointed Gavin Phillips as its next Group Chief Financial Officer and has said he is due to begin the role in January 2022. Phillips' appointment follows current CFO Nigel Meyer's decision to step back from his role in March 2022 to concentrate on establishing a portfolio of ... Read the full article
Munich Re launches second green bond to support climate strategy
2nd September 2021
Reinsurer Munich Re has launched its second green subordinated bond after a successful issuance in 2020, designed to reinforce its capital base with a focus on emerging growth opportunities in reinsurance markets. The volume of this issue is €1 billion (USD 1.2 billion) and the bond has a coupon of 1% ... Read the full article
Enstar takes controlling stake in Enhanzed Re
2nd September 2021
Enstar has announced that one of its subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Re previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is ... Read the full article
Ryan Specialty Group reports Q2 net income of $63.4 million
2nd September 2021
Ryan Specialty Group has reported its net income for the second quarter of 2021 increased by 27.1% to $63.4 million, compared to $49.9 million in the prior-year period. Total operating expenses for the second quarter of 2021 were $297.8 million, a 57.8% increase compared to the prior-year period. This was primarily due ... Read the full article
QBE Re hires SiriusPoint’s Tracey Gibbons to lead in Bermuda
2nd September 2021
QBE Re, the reinsurance arm of the global insurer, has expanded its Bermuda office with the appointment of Tracey Gibbons as Head of QBE Re, Bermuda. Gibbons joins from SiriusPoint where she was Senior Vice President, bringing over 30 years’ experience to the role and a remit to develop the Bermuda ... Read the full article
Europe’s major reinsurers grew 11% at mid-year 2021 renewals: Litmus Analysis
2nd September 2021
Europe's four major reinsurers renewed roughly €12 billion of treaty premium at the mid-year 2021 reinsurance renewals, with an average risk-adjusted price increase of 2.1%, according to research from Litmus Analysis. The €12 billon of renewed treaty premium represents growth of 11%, which is an improvement on the 5% growth recorded ... Read the full article
Hurricane Ida insured loss could reach $21 billion: CoreLogic
2nd September 2021
Analysis by catastrophe risk modeller CoreLogic estimates an overall loss from Hurricane Ida of between $27 billion and $40 billion, of which up to $21 billion could be covered by re/insurance protection. The economic loss range from CoreLogic is for losses from wind, storm surge and inland flooding damages to residential ... Read the full article
Growing need for data in London Market: Amwins
2nd September 2021
As part of a new report on the state of the London Market, analysts at Amwins have pointed to a growing requirement for greater levels of data, analytics and insight. The observation comes on the back of a challenging 18-month period for the London Market, which has faced a worldwide pandemic, ... Read the full article
MS Amlin SE names AXA’s Frédéric Fischer CFO
2nd September 2021
European primary insurer MS Amlin Insurance S.E. has announced the appointment of Frédéric Fischer as Chief Financial Officer, a role he takes up from today. Fischer joins from AXA, where he most recently held the position of CFO at its Corporate Solutions. During his 25-year career at AXA, he has held a ... Read the full article
Howden hires Paul Tubb as Executive Director for Assets team
2nd September 2021
International insurance broker Howden has appointed Paul Tubb as Executive Director and head of the newly created Infrastructure Assets team, a specialist practice within Howden’s construction division. Tubb will start his new position next year, and will report to Naresh Dade, Managing Director, Global Head of Construction. He will be responsible for ... Read the full article
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