Reinsurance News
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
Arthur J. Gallagher acquires Mutual Brokers
4th May 2021
Global insurance broker, Arthur J. Gallagher & Co. has acquired Canberra, Australian Capital Territory (ACT)-based Mutual Brokers. Mutual Brokers was founded in 1985 and is an independent broker serving a broad cross-section of commercial and small corporate clients in Canberra and the ACT. Its owners, Lou Pennetta and Adrian Dodd and the ... Read the full article
Tremor approved to redistribute AM Best ratings within Panorama
4th May 2021
Programmatic re/insurance risk transfer marketplace, Tremor Technologies, has been granted the rights to redistribute Best’s Credit Ratings as part of Panorama, its recently launched trading platform. The credit ratings by AM Best will be continuously updated within Panorama to provide critical ratings information to buyers of reinsurance protection using the ... Read the full article
United Fire Group announces $29mn Q1 cat hit
4th May 2021
US property and casualty insurer United Fire Group has announced an estimated $29 million pre-tax catastrophe loss for the first quarter of 2021. These above average catastrophe losses in the first quarter of 2021 were mainly attributable to winter storm Uri. As previously released as an estimate back in March, this catastrophic ... Read the full article
Ki updates Broker API platform whilst announcing strong Q1 results
4th May 2021
Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has released its new Broker API platform along with its strong first quarter results. Since it began trading at the beginning of this year, it has bound over 1,000 risks in the first quarter of this year and is on track ... Read the full article
PERILS releases third industry loss estimate for 2020 Queensland Hailstorms
4th May 2021
Zurich-based catastrophe insurance data provider PERILS is now anticipating a AU$1.173 billion industry hit from last October’s South East Queensland Hailstorms. During the afternoon of 31 October, severe thunderstorms impacted South East Queensland, including the surrounding areas of Brisbane, the Gold Coast and the Sunshine Coast. The corridor from Amberley through ... Read the full article
Eppolito takes over as President of Berkley Oil & Gas, Randall named Chair
4th May 2021
Linda Eppolito has been named as President of Berkley Oil & Gas, succeeding Carol Randall, who has taken on the role of Chairman of the operating unit, effective immediately. Eppolito joined W.R. Berkley's Oil & Gas division in July of 2010, most recently serving as its Chief Financial Officer (CFO). She brings ... Read the full article
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