Reinsurance News
“Disruption” from Aon – WTW merger an MMC growth driver, CEO Glaser suggests
27th April 2021
Global insurance brokerage Marsh McLennan may already be benefiting from new hires and clients gained as a result of the still impending Aon and Willis Towers Watson (WTW) merger, CEO Dan Glaser suggested today. During the Marsh McLennan (MMC) first-quarter 2021 earnings call that finished just recently, CEO Dan Glaser discussed ... Read the full article
American Family opts for catastrophe models from KCC
27th April 2021
Karen Clark & Company (KCC) has announced that P&C insurer American Family Group has licensed its full suite of US catastrophe models delivered through the RiskInsight open loss modeling platform. The multi-year agreement includes the KCC models for hurricane, earthquake, severe convective storm, winter storm, and wildfire. “We’re thrilled to be partnering ... Read the full article
Donegal Group reports increase in net profit for Q1
27th April 2021
Donegal Group has reported its financial results for Q1 2021, showing an increase of net income which came to $10.5 million compared to $3.7 million for the prior year period. For Q1 it reported a combined ratio of 98.5% compared to last year’s 97.0% showing a slight deterioration, although still profitable. The ... Read the full article
Arch provides reinsurance capacity for Delos Cali wildfire cover
27th April 2021
Bermuda-based re/insurer Arch Capital Group Ltd. has agreed to provide reinsurance capacity to Delos Insurance Solutions to expand its coverage for wildfire-exposed homes in California. The reinsurance capacity will be provided by Arch Reinsurance Ltd. (Bermuda) and the Lloyd’s of London syndicate, Arch Syndicate 1955 (formerly Barbican Syndicate 1955). Broker Guy Carpenter ... Read the full article
Guy Carpenter’s revenue up 7% as Marsh reports ‘outstanding’ first quarter
27th April 2021
Global insurance brokerage Marsh McLennan has reported consolidated revenue of $5.1 billion for the first quarter of 2021, supported by solid revenue growth at its reinsurance broking arm, Guy Carpenter. Consolidated revenue increased 9%, or 6% on an underlying basis from the prior year quarter, as operating income jumped, year-on-year, from ... Read the full article
Shepherd Compello adds Steve Hart as Chief Broking Officer
27th April 2021
Specialist insurance broker Shepherd Compello has announced the appointment of Steve Hart to the role of Chief Broking Officer. Hart is set to oversee the creation and implementation the broking strategy which delivers the company’s financial goals for all lines of business. He will also lead the development of opportunities in new ... Read the full article
UPC Insurance partners with Mindtree & Duck Creek
27th April 2021
UPC Insurance has partnered with technology services company Mindtree and core system solutions provider Duck Creek Technologies on the implementation of SaaS-based systems to improve customer experience and claims efficiency. This includes policy, billing, claims, data insights, and insurance technology solutions as well as the consolidation of multiple applications on a ... Read the full article
Interest rates to pressure European life earnings through 2021: Fitch
27th April 2021
Analysts at Fitch Ratings have forecast that European life re/insurers’ earnings will be under pressure through 2021, due to the protracted low interest rate environment. As a result of these low interest rates, investment margins will be reduced, making it difficult for insurers to finance policyholders’ liability with capital guarantees, the ... Read the full article
Organic revenue growth boosts Brown & Brown’s Q1 income
27th April 2021
Insurance brokerage Brown & Brown has posted a 31.0% increase in net income for the first quarter of 2021, on the back of strong organic revenue growth, rate increases, and good business retention. Net income for the quarter was $199.7 million, representing an increase of $47.3 million over the same period ... Read the full article
Catastrophe losses to dent FedNat Q1 net income by $14.5m
27th April 2021
Florida based primary insurer FedNat has reported that catastrophe weather losses experienced in the first-quarter of 2021 will lower its net income for the period by $14.5 million, after-tax and net of all reinsurance recoveries. The majority of the company's Q1 2021 catastrophe bill comes from the impacts of winter storm ... Read the full article
Brokers look to upselling and acquisitions to fuel recovery: GlobalData
27th April 2021
New survey results from GlobalData show that UK insurance brokers are looking towards upselling, acquisition and marketing to grow their businesses and recover from the challenges of 2020. GlobalData’s 2021 UK Commercial Brokers Survey found that the three most popular growth strategies for national brokers all saw an increase in the ... Read the full article
Kevin Kerridge to succeed Steve Langan as Hiscox USA CEO
26th April 2021
International specialist insurer Hiscox has selected Kevin Kerridge to succeed Steve Langan as Chief Executive Officer of Hiscox USA, effective May 15. Kerridge, who will report to Hiscox’s CEO of Global Retail Ben Walter, joined Hiscox in 1996. In 2009 he relocated from London to New York to oversee the launch and ... Read the full article
WTW licences Radar Live software to Chubb
26th April 2021
Insurance Consulting and Technology broker Willis Towers Watson has licensed its pricing delivery software Radar Live to Chubb. Radar Live is designed to integrate across multiple channels and provide commercial insurers with increased pace and agility to generate and benefit from ever more sophisticated insights. Chubb will be able to leverage advanced ... Read the full article
Ben Love takes UK leadership role at Aon’s Reinsurance Solutions
26th April 2021
Insurance and reinsurance broker Aon plc has appointed Ben Love to its Reinsurance Solutions' UK Leadership Team. Based in London, Love will focus primarily on client growth strategy in addition to other specific client responsibilities. He joins Aon from reinsurer Tamesis DUAL, where he was Director of Underwriting since 2018. Prior to this ... Read the full article
RMS launches Canada wildfire HD risk model
26th April 2021
Catastrophe risk modeller RMS has expanded its North America Wildfire HD Model Suite with the ability to achieve a granular view of wildfire risk in Canada. RMS Canada Wildfire HD Model is designed to allow users understand how individual locations in Canada will be impacted by a wildfire event, via complex ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
