Reinsurance News
China Re expecting up to 65% H1 profit growth
23rd July 2021
China Reinsurance Group (China Re), the country’s largest reinsurer, has released a preliminary estimate of its results for the first half of 2021, which states that net profit will be up by between 55% and 65%. The company’s profits dipped by 24% to roughly RMB 2.467 billion (USD 380.8 million) ... Read the full article
BMA pegs Bermuda re/insurers’ Uri payments to US clients at $2.7bn
23rd July 2021
The Bermuda Monetary Authority (BMA) has said that Bermuda insurers and reinsurers are set to incur gross claim losses of $2.7 billion as payments to U.S. policyholders and cedents as a result of the impacts of winter storm Uri. The devastating storm arrived on the country’s President’s Day weekend bringing damaging ... Read the full article
Aon expecting $10bn economic hit from recent European floods
23rd July 2021
The catastrophic floods seen recently across parts of Western and Central Europe are expected to drive preliminary economic losses of over $10 billion, according to a new Aon report. Torrential rainfall caused by a slow-moving area of low pressure “Bernd” resulted in catastrophic flooding across parts of Western and Central Europe ... Read the full article
Aqueous adds Alex Stephenson as Senior Underwriter
23rd July 2021
Specialist MGA Aqueous Underwriting has announced the appointment of Alex Stephenson to the role of Senior Underwriter, with immediate effect. He joins Aqueous having spent 10 years at Manchester Underwriting and had previously worked at RSA and at broker Millers. Aqueous currently writes PI for a range of trades and professions. The ... Read the full article
Swiss Re CorSo to bolster International Programs leadership
23rd July 2021
Swiss Re Corporate Solutions has strengthened its International Programs leadership with the appointments of William Porter as Head International Programs Americas and Reto Collenberg as Head International Programs APAC and EMEA, both effective 1 August. Together they will oversee Swiss Re Corporate Solutions' International Programs business and market strategy globally. Based in New ... Read the full article
W. R. Berkley posts record Q2 underwriting profit
23rd July 2021
W. R. Berkley Corporation has posted record underwriting profit of $202.2 million for the second quarter of 2021, as net premiums written increased by 27.2%. Overall, the company posted operating income of $219.1 million, compared with just $11.6 million in the same period last year, while its six-month total was $420.8 ... Read the full article
Beazley returns to profit as all divisions achieve rate rises in H1 2021
23rd July 2021
Specialist insurer Beazley has reported profit of $167.3 million for the first half of 2021 against a loss of $13.8 million in the prior year period, as the firm achieved good rate increases across all classes, platforms and territories. For the first half of the year, Beazley has reported solid growth ... Read the full article
German insurers well-positioned for 2021 nat cats: AM Best
23rd July 2021
Despite the recent widespread and catastrophic flooding across Germany, AM Best believes the country’s non-life segment has, in general, the ability to absorb such high weather-related losses, as it has shown the discipline in the past to price appropriately for such events. Last week’s flooding impacted parts of Central and ... Read the full article
RenRe reports higher underwriting income, improved CR in Q2 2021
23rd July 2021
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced gross written premium growth to more than $2 billion for the second quarter of 2021, as the company's underwriting income improved year-on-year and combined ratio strengthened to 72.4%. For Q2 2021, RenRe's underwriting income reached $329 million compared with $217 million for the same ... Read the full article
Aston Lark acquires Principle Insurance in Ireland
23rd July 2021
Aston Lark Ireland has announced plans to further strengthen its personal lines insurance capabilities with the acquisition of Principal Insurance Ireland DAC. Based in Dublin, Principal Insurance was established in 2015 and is a leading player in the Irish motorcycle insurance market, with a 30%+ market share. Its 18-strong team, led by ... Read the full article
Aioi Nissay Dowa Europe partners with ibott to provide solutions for mobility sector
23rd July 2021
Aioi Nissay Dowa Europe (AND-E) and its subsidiary Toyota Insurance Services (TIS) have partnered with ibott, a division of Apollo to develop a range of insurance solutions for the shared mobility sector. The companies announced that the partnership will initially be focused within the UK, with plans to extend throughout Europe ... Read the full article
Lloyd’s names Guy Carpenter’s Vicky Carter as Deputy Chair
22nd July 2021
The specialist Lloyd's of London insurance and reinsurance marketplace has named Vicky Carter of reinsurance broker Guy Carpenter as its new Deputy Chair, effective September 1st, 2021. Carter has served as a member of Lloyd's Council since February 2019 and has worked for the Lloyd's marketplace for over 40 years, having ... Read the full article
Intact adds former Partner Re CEO Emmanuel Clarke to Board
22nd July 2021
Intact Financial Corporation today announced the appointment of Emmanuel Clarke to its Board of Directors. Clarke brings over twenty-five years experience working at PartnerRe to the role, and was most recently serving a President and Chief Executive Officer. "We are pleased to welcome Emmanuel Clarke to our Board of Directors at this ... Read the full article
INSTANDA names new Senior Manager, Propositions and Business Development
22nd July 2021
Cloud-based digital insurance platform INSTANDA has appointed Simon Candy as Senior Manager in Propositions and Business Development to support its expansion into the life and health market. Candy will be responsible for identifying new growth opportunities in the market, and as part of this, enhancing INSTANDA’s existing Life and Health proposition ... Read the full article
Allianz announces launch of Global Commercial insurance division
22nd July 2021
Global re/insurer and asset manager, Allianz Group, has unveiled its new Global Commercial insurance division established under Chris Townsend, Member of the Allianz SE Board of Management, enabling a dedicated focus on the property and casualty (P&C) commercial space. Allianz says that its new Global Commercial Group Center represents a significant ... Read the full article
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