Reinsurance News
Allstate’s Q2 net income reaches $1.6bn
5th August 2021
Allstate has announced a second quarter net income applicable to common shareholders of $1.6 billion, up from the $1.2 billion announced in the prior year quarter. This upswing was primarily driven by higher performance-based investment income results. Adjusted net income of $1.1 billion, increased $333 million compared to the prior year quarter. Allstate ... Read the full article
The Hartford adds Claire Burns as Marketing, Communications Officer
5th August 2021
The Hartford has appointed Claire Burns to serve as Chief Marketing and Communications Officer, effective September. Burns will report directly to Chairman and CEO Christopher Swift and succeeds Kathleen Bromage, who will remain in an advisory role and continue to oversee Hartford Next through the end of the year. “Claire’s outstanding industry ... Read the full article
United (UPC Insurance) falls to Q2 net loss as reinsurance changes take hold
5th August 2021
United Insurance Holdings Corp. has reported a net loss for the second quarter of 2021 of $23.5 million, driven by a reduction in revenue during the period as the firm's ceded premiums earned spiked on the back of changes made to its reinsurance use. This quarterly loss compares with net income ... Read the full article
Fidelis names Mathias as Director of Underwriting; Murfet takes on CRO role
5th August 2021
Fidelis Insurance Holdings Limited, the specialty insurance and reinsurance firm launched by Richard Brindle, has appointed Charles Mathias as its first Group Director of Underwriting, supporting the Chief Executive Officers (CEOs) of insurance, reinsurance, and Socium. In this newly created role, Mathias takes on responsibility for ensuring that the firm's underwriting ... Read the full article
Life and P&C insurers to accelerate automation use over the next five years
5th August 2021
A new survey by Willis Towers Watson suggests global life and property and casualty (P&C) insurers want to improve the efficiency and auditability of their processes and close the gap between their current use of automation and where they aspire to be in five years. The survey quesrtioned life and P&C ... Read the full article
Hassan Baqar takes CFO role at FG Financial
5th August 2021
FG Financial Group, Inc., a reinsurance and investment management holding company focused on collateralized and loss capped reinsurance, has announced the appointment of Hassan R. Baqar as Chief Financial Officer (CFO). Baqar will succeed John S. Hill, who has decided to retire after serving as CFO at FG Financial since its ... Read the full article
Hannover Re’s H1 profit rises as P&C result offsets COVID losses in L&H
5th August 2021
Global reinsurer Hannover Re has reported Group net income of €670.6 million for the first half of 2021, supported by a significant improvement in the performance of its property and casualty (P&C) business, somewhat offset by COVID-19 losses of €236.4 million in its life and health (L&H) operation. For H1 2021, ... Read the full article
Risk Strategies acquires Centric Actuarial Solutions
5th August 2021
Risk Strategies has acquired property and casualty actuarial consulting firm Centric Actuarial Solutions. Centric consults clients in a wide variety of industries to help understand and assess their cost of risk, with a focus on organisations employing alternative risk programs and approaches. Its clients include governmental entities, retail and restaurant businesses, self-insured ... Read the full article
Amwins acquires National Truck Underwriting Managers
5th August 2021
Amwins has acquired National Truck Underwriting Managers (NTUM), a truck insurance wholesaler offering access to primary liability, physical damage and motor truck cargo package policies. NTUM will join Amwins' Underwriting Division, and compliment the services of Amwins Transportation Underwriters and working in conjunction with trucking industry specialists within the firm's Brokerage ... Read the full article
Enstar subsidiary inks reinsurance contract with ProSight Global
4th August 2021
A subsidiary of legacy specialist Enstar Group has secured a deal with ProSight Global to provide reinsurance relating to 2019 and prior year business. In signing the deal, ProSight will receive a ground up loss portfolio transfer of discontinued workers’ compensation and excess workers’ compensation lines, as well as adverse development ... Read the full article
Howden appoints Charlie Connell to lead Sports & Entertainment
4th August 2021
International insurance broker Howden has appointed Charlie Connell to its Sports & Entertainment practice group in the newly created Head of Entertainment role. Connell joins from EC3 Brokers where he was Head of Contingency and Entertainment, a role he has held for the past four years. In his new position, he will ... Read the full article
McLarens acquires Canadian loss adjuster MGB Claims
4th August 2021
Insurance services provider McLarens is set to acquire MGB Claims, a complex commercial claims adjusting firm based in Canada. Headquartered in Toronto with additional employees in Calgary and Vancouver, MGB Claims’ team consists of 25 adjusters plus additional support personnel. MGB Claims focuses on large and complex claims in Canada and the ... Read the full article
MS Amlin invests in US based ESG start-up InQlusiv
4th August 2021
Lloyd's re/insurer MS Amlin has announced plans to invest in InQlusiv, LLC, a US based environmental, social and governance (ESG) focused managing general agency (MGA). The minority investment will support the start-up as it looks to provide a business owners policy (BOP), plus a parametric digital business interruption policy, for SMEs. In ... Read the full article
Verisk insurance revenues up 11.8% in Q2
4th August 2021
Data analytics provider Verisk has reported overall revenue growth of 10.1% to $747.5 million during the second quarter of 2021, boosted by revenue growth of 11.8% in its insurance segment. Underwriting and rating revenues increased 11.2% in the quarter, resulting from annual increases in prices following enhancements to the content of ... Read the full article
Greenlight Re expands Board with three new additions
4th August 2021
Hedge fund-backed reinsurer Greenlight Capital Re has expanded its board of directors to nine members with the addition of Johnny Ferrari, Ursuline Foley and Victoria Guest. Ferrari is currently a consultant to companies in the financial services industry, having retired from KPMG International in June 2021. Prior to his retirement, Ferrari specialized ... Read the full article
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