Reinsurance News
WTW promotes Kirsten Beasley to lead Bermuda office
18th August 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has appointed Kirsten Beasley to lead its Bermuda office. Beasley has been WTW’s head of healthcare broking, North America, since 2018 and will now lead a team of 26 in Bermuda. She will focus on Bermuda placements in casualty, property, financial lines, and ... Read the full article
BMS Re adds Scott Christian as EVP for Cat Analytics
18th August 2021
Independent reinsurance broker BMS Re has announced the appointment of Scott Christian as Executive Vice President, Catastrophe Analytics. Based in Atlanta, Georgia, Christian will report to Kirk Conrad, Global Head of Analytics at BMS. Christian brings over 19 years of catastrophe and risk management experience, having most recently served as Senior Vice ... Read the full article
Reinsurance to limit W&W’s up to €400m gross loss from July flooding
18th August 2021
Germany-based financial services company, the Wüstenrot & Württembergische Group (W&W), has said that it expects storm events and subsequent flooding in mid-July to drive gross expenses of up to €400 million. The company's loss estimate for the impacts of storm Bernd in Europe, which arrived in Central Europe in July, is ... Read the full article
Casualty market proves value as diversifier for reinsurers: Aon
18th August 2021
Re/insurance broker Aon has released a new report for the first half of 2021, giving insight into the Property & Casualty insurance market. The broker's report underlined how the casualty market is proving its value as a good diversifier for reinsurers' challenged property experience in recent years, along with robust primary ... Read the full article
QOMPLX and Tailwind abandon merger plans
18th August 2021
Risk analytics provider QOMPLX has agreed to terminate its business combination agreement with Tailwind Acquisition Corp., a special purpose acquisition company, due to challenging market conditions. The deal would have seen QOMPLX go public via a merger with Tailwind, and reflected a post-transaction equity value for QOMPLX of roughly $1.4 billion ... Read the full article
LIIBA adds McGill’s Hennessy to board
18th August 2021
Karl Hennessy, Head of Specialty Broking for Lloyd’s broker McGill and Partners, has been appointed to the board of the London and International Insurance Brokers’ Association (LIIBA). LIIBA notes that Hennessy has over 30 years’ experience in the London insurance market. He began his career with Fenchurch International, before moving to Lloyd ... Read the full article
Acrisure enters partnership with Quotal
18th August 2021
Insurtech ecosystem specialist Quotall has entered into a strategic partnership with global insurance distribution business Acrisure. The partnership will see Acrisure provide insurance product sourcing and insurer partnership services to meet the portfolio needs of Quotall clients. The joint strategy will offer a consolidated solution for big brands across industry sectors that ... Read the full article
ASR hires Krishna Bheenick as Managing Director, Mauritius
18th August 2021
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, has appointed Krishna Bheenick as Managing Director in Mauritius. Bheenick brings a wealth of experience in the Insurance and wider Financial Services sector in Mauritius and internationally, having held senior positions at SWAN General, Mauritius Commercial Bank, XL Catlin Insurance (UK), Munich ... Read the full article
AJG able to balance & reinvigorate Willis Re’s employee & client bases: KBW
17th August 2021
According to reports from Keefe, Bruyette & Woods (KBW), Arthur J Gallagher (AJG) will be able to stabilise and reinvigorate Willis Re’s employee and client bases, whilst expanding its reinsurance product capabilities and global footprint. It was announced ... Read the full article
Zurich NA names Kelly Kinzer to lead Construction Casualty
17th August 2021
Zurich North America has appointed Kelly Kinzer to the newly created role of Head of Construction Casualty. The appointment is seen as a reflection of Zurich's efforts to realign its Construction business into two segments (Property and Casualty) to simplify and enhance how it goes to market and serves project owners, ... Read the full article
Atradius reports smooth transition after trade credit reinsurance scheme
17th August 2021
Trade credit insurer Atradius has reported a smooth transition for customers after the close of the Government Trade Credit Reinsurance Scheme, which was introduced to support the industry during the pandemic. Atradius noted that the handover process ran as expected with a continuation of limits for customers and growing levels of ... Read the full article
Beazley hires Patricia Kocsondy as Head of US Cyber & Tech
17th August 2021
Specialist insurer Beazley has appointed Patricia Kocsondy as Head of US Cyber & Tech. Kocsondy joins from Chubb, where she served as senior vice president, errors & omissions (E&O) and cyber underwriting, for Chubb Limited’s North American Financial Lines. In her previous role, she was responsible for strategic leadership and direction, portfolio ... Read the full article
Gallagher hires Nick Hughes as a Consultant for aerospace practice
17th August 2021
Insurance broker Gallagher has appointed Nick Hughes as a Consultant within its global aerospace practice. In his new role, Hughes will be responsible for supporting client-facing teams with legal input to complex insurance coverage, claims and contractual issues, as well as helping to grow Gallagher’s aerospace client base. Until his retirement in ... Read the full article
Caribbean P&C insurers surpass expectations: AM Best
17th August 2021
Most property and casualty (P&C) insurers in the Caribbean region surpassed performance expectations in 2020 despite the challenges of COVID-19, according to AM Best. Consolidated net income more than doubled on the 2019 level last year among AM Best rated insurers, despite the pandemic weighing heavily on countries with weak public ... Read the full article
Insured Haiti quake loss estimated at $250mn by KCC
17th August 2021
Catastrophe risk modeller Karen Clark & Company (KCC) has estimated that insured losses from the M7.2 earthquake that hit Haiti last week will be around $250 million. However, with insurable, or economic, losses estimated at around $1.7 billion, only around 14.7% of the overall cost of the quake will be covered ... Read the full article
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