Reinsurance News
Corant names Paul Scope as Chairman of Bermuda operations
5th May 2021
Global brokerage and financial technology firm Corant Global has announced the appointment of Paul Scope as Chairman of its Bermuda operations with immediate effect. Scope brings over 40 years of industry experience to Corant and joins from Willis Bermuda where he has been chairman since 2015. Prior to that, he founded Park ... Read the full article
Hiscox reports 6.3% premium growth, no change to COVID losses
5th May 2021
Hiscox Group, the specialist insurance and reinsurance underwriter, has reported that its gross written premiums increased 6.3% to $1.26 billion during the first quarter of 2021, as strong growth in Hiscox London Market, Hiscox Europe and direct and partnerships business more than offset planned reductions in the US broker channel. The ... Read the full article
Direct Insurance rebrands and consolidates as Aventum
5th May 2021
Global speciality insurance business Direct Insurance Group has restructured and rebranded to Aventum, bringing together its UK and international teams into one combined global insurance group with two distinct businesses, underwriting and broking. Consilium is now Aventum’s International speciality wholesale re/insurance broker, combining the group’s global broking operations, and Rokstone is ... Read the full article
Hannover Re improves P&C results, confirms profit targets for 2021
5th May 2021
Hannover Re, one of the major European reinsurers, has confirmed its profit targets for 2021 after posting double-digit growth in premium income in the first quarter, as well as modestly improved group net income. Gross premiums were up by 11.9%, or 16.8% adjusted for exchange rate effects, while net income increased ... Read the full article
Markel Singapore appoints Financial Lines Underwriter
5th May 2021
Specialist insurer Markel International has appointed Joe Wong as a Specialist Financial Lines Underwriter in Singapore to strengthen its financial lines product offerings in the Southeast Asia region. Reporting to Simon Moi, Head of Professional and Financial Risks, he will underwrite a range of financial lines products, including Cyber, Commercial D&O, ... Read the full article
AEGIS hires Lizzie Powell as Head of Specialty Delegated Facilities
5th May 2021
Lloyd’s managing agency AEGIS London has appointed leading underwriter Lizzie Powell to the newly created role of Head of Specialty Delegated Facilities. Joining from Canopius Group, where she's held the role of Head of Special Risk since 2017, Powell will build out the diversified follow portfolio that complements AEGIS London’s strong ... Read the full article
AXA reports 2% revenue growth for Q1; favourable price effects at AXA XL
4th May 2021
Global insurer AXA has reported total revenue growth of 2% for the first quarter of 2021 to €31 billion, driven in part by favourable price effects at AXA XL which helped its commercial lines segment grow by 4% to €11.6 billion during the period. Across AXA's property and casualty (P&C) operation, ... Read the full article
Amwins signs agreement to acquire Equisure
4th May 2021
Amwins Group, the independent wholesale distributor of specialty insurance products in the US, has signed a definitive agreement to acquire Equisure, an insurer for equine and canine risks. The transaction is expected to close later this month and will further position Amwins as a diversified specialty distribution firm. Scott Purviance, Chief Executive ... Read the full article
Kirk Cyrus replaces Chris Evans as Chairman of SRS Barbados
4th May 2021
Strategic Risk Solutions (SRS), a provider of insurance management and consulting services, has announced that Kirk Cyrus is to take over from Chris Evans as the Chairman of SRS Barbados. Cyrus, who currently serves as SRS’s Managing Director in Barbados, will take on the additional role of Chairman effective May 1st, ... Read the full article
Marsh analysis shows commercial insurance pricing rose 18% in Q1
4th May 2021
Analysis undertaken by Marsh indicates global commercial insurance prices increased 18% during the first quarter of 2021. The opening three months of 2021 was reportedly the first to show a fall in the average rate of increase since Q4 2017. These findings follow year-on-year average increases of 22% in the fourth quarter ... Read the full article
Kettle hires Kevin Copeland as CFO
4th May 2021
Reinsurance start-up Kettle has appointed Kevin Copeland as Chief Financial Officer. Copeland has held senior executive positions in the insurance industry in Bermuda for over 15 years and also has extensive experience in the investment industry. Most recently, he was Senior Vice President, Finance and Chief Investment Officer of re/insurance group James ... Read the full article
Beat Capital launches D&O underwriting vehicle Tegron Specialty
4th May 2021
Beat Capital Partners Ltd., a long duration investor specialising in insurance, and industry veteran Paul Shore have announced the launch of a new underwriting vehicle called Tegron Specialty. Tegron will focus on D&O insurance for publicly traded companies, specialising in excess of loss placements. As CEO, Shore brings more than 25 years ... Read the full article
Clack joins Mosaic Insurance as Deputy Active Underwriter at Lloyd’s
4th May 2021
Mosaic, the global specialty insurance company recently launched by Ironshore executive Mitch Blaser, has announced the appointment of Danny Clack as Senior Vice President, Deputy Active Underwriter. He joins Mosaic's London team and will support Active Underwriter Charlie Mackey across all business lines through Mosaic Syndicate 1609, with a focus on ... Read the full article
WTW establishes framework to support climate transition plans
4th May 2021
Re/insurance broker Willis Towers Watson (WTW) has announced the launch of Climate Transition Pathways (CTP), an accreditation framework that helps insurers and financial institutions to identify which organisations have transition plans aligned with the Paris Agreement. The CTP governance committee will work with independent third-party groups including Volans, a consultancy responsible ... Read the full article
RAA promotes Scott Williamson to SVP
4th May 2021
The Reinsurance Association of America (RAA) has promoted Scott Williamson to Senior Vice President. Williamson is currently the Director of Analytics and is responsible for the Association’s interactive data models and analytics that quantify and communicate the impact of various state and federal regulatory and legislative proposals on the re/insurance industry. As ... Read the full article
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