Reinsurance News
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
IAT hires Mark Westmoreland as Managing Director
26th April 2021
Specialty property and casualty (P&C) insurer IAT Insurance Group has appointed Mark Westmoreland as Managing Director for its Assumed Reinsurance division. Prior to joining IAT, Westmoreland was at Munich Re for over 17 years, holding the position of Senior Vice President and Regional Property Underwriting Manager as well as Property Reinsurance ... Read the full article
Live webcast: The Power of Parametric Solutions for Climate Resilience
26th April 2021
The Weather Risk Management Association (WRMA) and sister publication Artemis have partnered to host a live webcast on April 29th 2021 to discuss the role of parametric solutions in supporting climate resilience. Register online here to secure your place at this free live webcast ... Read the full article
Kettle names William Haddrell CUO
26th April 2021
Reinsurance startup Kettle has announced the appointment of William Haddrell as its new Chief Underwriting Officer, who will join following the completion of his current work obligations. Haddrell is set to join from Sompo and will also being heading up the underwriting at Kettle’s recently-approved managing general agent. Co-Founder and CEO Andrew ... Read the full article
SiriusPoint targets alternative markets with Hestia Capital partnership
26th April 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has announced a new partnership with advisory start-up Hestia Capital. The partnership with the Texas-based advisory firm represents the first that SiriusPoint has entered into since its inception in February 2021. Established by industry ... Read the full article
Pacific Life Re expands into funded reinsurance market with new GFS team
26th April 2021
Pacific Life Re is expanding into the funded reinsurance market following the establishment of a new Global Funded Solutions (GFS) team. GFS has been created to further support Pacific Life Re’s clients in writing asset intensive business where it is required. The initial focus was intended to support the UK pension risk ... Read the full article
Compre adds Marialuisa Petrella, Connie Tregidga to leadership team
26th April 2021
International specialist legacy group Compre has appointed Marialuisa Petrella as claims director, and Connie Tregidga as group M&A director. Petrella joins in May from Armour Risk Management Limited where she served as head of European claims. Prior to that she worked for QBE and is a lawyer by profession. She will report to ... Read the full article
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