Reinsurance News
Howden expands in Spain with ARTAI takeover
21st April 2021
International insurance broker Howden has announced the acquisition of ARTAI, an independent corporate broker based in Spain. The acquisition will expand Howden’s presence across Spain, Portugal and Morocco, where ARTAI maintains a workforce of 600 employees across 30 offices, and manages more than €350 million in premiums. ARTAI was founded 28 years ... Read the full article
GRS hires Andrew Whitfield as Intl. Executive General Adjuster
21st April 2021
International loss adjuster Global Risk Solutions (GRS) has appointed Andrew Whitfield as International Executive General Adjuster. Whitfield has over 30 years of experience in construction, energy, power, nuclear and property insurance sectors throughout the United States as well as Canada, Europe, Latin America and South Asia. Before joining GRS, he held the ... Read the full article
Helios names Reith and Libassi as Non-Exec Directors
21st April 2021
Helios Underwriting has announced the additions of Tom Libassi of ILS Capital Management and Martin Reith, the Founder of Ascot Underwriting Limited, as Non-Executive Directors of the company with immediate effect. Libassi is the Co-Founder and Managing Partner of ILS Capital Management. He joins Helios as a Non-Executive Director following his ... Read the full article
Trinity Underwriting forms carrier partnership with Obsidian
21st April 2021
Amwins Underwriting-owned Trinity Underwriting Managers has announced a new carrier partnership with Obsidian. The partnership will look to enhance Trinity Underwriting’s automotive liability product offerings, including solutions for towing, automotive repossession, sand and gravel, paratransit and intermodal trucking businesses. "The automotive industry has faced volatility and a myriad of complex challenges, leaving ... Read the full article
Global reinsurer capital grows 4% to new high of $650bn: Aon
21st April 2021
Analysts at Aon have reported that global reinsurer capital increased by 4% year-on-year to a new high of $650 billion at the end of 2020. According to Aon, the increase was driven by strong capital market recovery from the COVID-19 shock in the first quarter, new equity issuance and US dollar ... Read the full article
W. R. Berkley posts record quarterly underwriting gain for Q1
21st April 2021
W. R. Berkley Corporation has reported net income of $229.5 million and a quarterly underwriting gain of $182.6 million for the first-quarter of 2021. The company's net income improved significantly from the $4.4 million loss reported a year earlier, while underwriting income reached a quarterly high. Both gross and net premiums written ... Read the full article
EIOPA releases report on climate change risk scenarios in ORSA
21st April 2021
The European Insurance and Occupational Pensions Authority (EIOPA) has released a report which explores the use of climate change scenarios in the Own Risk and Solvency Assessment (ORSA) addressed to national supervisory authorities. Within the report, EIOPA set out expectations on the supervision of the integration of climate change risk scenarios ... Read the full article
Munich Re’s consulting unit adopts pricing tech from Akur8
21st April 2021
Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article
You can’t build a shiny new skyscraper on foundations of sand: Dun & Bradstreet’s Harrison
20th April 2021
The role of data & analytics is changing in the re/insurance industry but as carriers have looked to bolster their capabilities, a few things have served to hinder their efforts, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet (D&B). In a recent ... Read the full article
David Fike named Head of Zurich’s NA Life, Accident & Health unit
20th April 2021
The recently-formed North American Life, Accident and Health unit of Zurich is set to be led by new Head David Fike, an industry stalwart who has been with the global insurer since 2014. Fike will report to Zurich North America CEO Kristof Terryn. Reporting to Fike, David Dietz is to continue serving ... Read the full article
HDI Global SE hires Andrew Perry as Marine Underwriting Manager
20th April 2021
Primary commercial specialist HDI Global SE, Australia has appointed Andrew Perry to the newly created role of Marine Underwriting Manager, Western Region. Perry brings over twenty years of Marine underwriting experience and has served in senior roles at several well-known Marine insurers. His appointment will take place next month and will be ... Read the full article
Price Forbes launches digital General Aviation facility
20th April 2021
Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article
Miller extends partnership with Concirrus for Quest Marine platform
20th April 2021
Re/insurance broker Miller has extended its partnership with insurtech company Concirrus to continue to utilise its Quest Marine platform. The platform will provide Miller's brokers with information which can target client improvement efforts on the most critical factors affecting the portfolio. This can relate to vessel maintenance, organisational profile, or behaviour at ... Read the full article
Arch’s UK regional division announces two key senior promotions
20th April 2021
The UK regional division of Arch Insurance has promoted Vicky Rowlay to National Director - Business Transformation and Neil Peters to National Director - Branch Network, with immediate effect. Rowlay is set to focus on developing and implementing key business strategies as well as assuming responsibility for the company’s Regional Trading ... Read the full article
Travelers reports higher Q1 profit result despite $835m cat losses
20th April 2021
The Travelers Companies, Inc. has reported a year-on-year increase in net income to $733 million for Q1 2021, despite catastrophe losses, net of reinsurance, hitting $835 million. Up from $600 million in the prior year period, the increase was driven by higher core income, higher net favourable prior year reserve development ... Read the full article
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