Reinsurance News
COVID-19 intensifies social inequality and political unrest: Marsh
13th April 2021
Analysts at insurance broker and risk advisor Marsh predict that pandemic-induced economic stress will continue to worsen global political risk throughout this year, along with amplifying the threats facing already-fragile economies. Marsh Specialty published the Political Risk Map 2021, which shows larger increases than ever before in country economic risk across ... Read the full article
Generali (GC&C) appoints trio to senior underwriting roles
13th April 2021
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Reto Arrigoni as Global Head of Casualty Underwriting. At the same time, Enrico Mazza has been named as GC&C Italy Head of Underwriting and Tomasz Kukuła as ACEER (Austria, Central and Eastern Europe, ... Read the full article
Markerstudy Group appoints Benny Higgins as Chairman
13th April 2021
Motor insurer Markerstudy Group has appointed Benny Higgins as Group Chairman, following its acquisition of Brightside Group. Markerstudy received its regulatory approval for the acquisition on 22nd March, with the deal completed on 12th April. Kevin Spencer, Group CEO, said: “We are steering Markerstudy Group on an exhilarating growth trajectory and due ... Read the full article
RenRe among backers of BlackRock’s $1.5bn sustainable ETFs
13th April 2021
BlackRock, a fiduciary to investors and provider of financial technology, has launched two active sustainable exchange-traded fund (ETFs) as the firm looks to leverage the global the transition to a low-carbon economy. The two funds raised more than $1.5 billion, highlighting the increased focus on climate-aware strategies from global institutional investors. Bermudian ... Read the full article
Matt Newman takes chief strategy role at Apollo
13th April 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has announced the appointment of Matt Newman as Group Chief Strategy and Innovation Officer. Newman currently serves as Apollo’s Group Head of Casualty and Active Underwriter of Syndicate 1971, and will retain this role as he takes on his new responsibilities from ... Read the full article
Liberty Mutual Re names Peter Smith EVP, MD
13th April 2021
Liberty Mutual Re has named Peter Smith as Executive Vice President (EVP) and Managing Director, a newly-created position within the reinsurance underwriting company. Smith brings over 25 years’ experience to the role and will be based in London. He joined LSM in 2012 and was previously Executive Underwriting Officer. Before that he ... Read the full article
Commercial pricing close to peak levels: KBW
13th April 2021
Analysts at KBW believe that commercial insurance lines pricing has been “close to peak levels” during the first quarter of 2021, with plateauing and very modest deceleration expected as the year continues. This could entail slightly smaller rate increases that still remain above loss trends, KBW explained. Analysts added that specialty commercial ... Read the full article
Aon / WTW concessions include regional businesses, FinPro, cyber, aerospace: Reuters
13th April 2021
Global insurance and reinsurance broker Aon has reportedly offered to sell assets in a number of EU countries in order to gain EU antitrust approval for its proposed combination with Willis Towers Watson (WTW), according to Reuters. Reports at the end of March suggested that a remedy proposal for European ... Read the full article
Aon hires Jon Wiegand as Head of Power in UK Global Broking Centre
13th April 2021
Insurance and reinsurance broker Aon plc has appointed Jon Wiegand as Head of Power in the UK Global Broking Centre. He will report to James MacNeal, Managing Director of Construction and Power. Wiegand’s role will take place later this year, and is set to align with the development of Aon’s global Energy ... Read the full article
RSG makes several leadership changes
13th April 2021
International specialty insurance firm Ryan Specialty Group has made several leadership changes to its transportation offerings. RT Specialty, Ryan Specialty Group’s wholesale brokerage, has appointed Doug Hathaway as Head of its National Transportation Practice as well as its commercial transport program, Interstate Insurance Management. Dennis Beecher has also promoted to President of ... Read the full article
Timothy Markey takes Divisional VP role at Great American
13th April 2021
Great American Insurance Group has announced the promotion of Timothy E. Markey to Divisional Vice President within its Fidelity / Crime Division. Markey joined Great American in 2017 as a Divisional Assistant Vice President. Since then, he has assumed roles of increasing responsibility and was named Head of Claims for Fidelity / ... Read the full article
DNIR hires Abdulla Al Nuaimi as CEO
13th April 2021
Dubai National Insurance and Reinsurance (DNIR) has appointed Abdulla Al Nuaimi as Chief Executive Officer. Al Nuaimi has over 25 years of experience working in the government and private sectors. He has held numerous roles, including Director of Operations and International Cooperation at Etihad Credit Insurance. Prior to that, he served for nine ... Read the full article
Lloyd’s European CEO Rottiers to depart, Amélie Breitburd succeeds
12th April 2021
Lloyd’s of London has announced the departure of Sonja Rottiers from her role as European Chief Executive Officer, with Amélie Breitburd set to step into the position. Breitburd brings over 25 years’ experience in international insurance markets, having previously served at AXA, KPMG and Allianz. She'll be onboarded during the second quarter ... Read the full article
Watford wraps up Axeria acquisition
12th April 2021
Bermuda domiciled re/insurance company Watford has completed its purchase of French property and casualty insurer Axeria, having acquired 100% of the capital stock from the APRIL Group. The deal was first announced in December 2019, and will see Watford acquire a company with in-force gross written premiums of approximately €140 ... Read the full article
US weather drives $1bn+ industry loss in March: Aon
12th April 2021
Re/insurance broker Aon has estimated that insured catastrophe losses are likely to exceed $1 billion in March, following an active month for severe weather in the US. Weather outbreaks in the US included hail, flooding and a total of 122 tornadoes, which was the highest monthly count since 2017. Of these, ... Read the full article
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