Reinsurance News
MS Amlin appoints new COO, P&C country manager
16th July 2021
MS Amlin Insurance SE has announced the appointments of Norbert Herkströter as Chief Operations Officer and Jan Vande Weghe as Property and Casualty Country Manager for Belgium. Herkströtermost recently served as Chief Information Officer at Delft University of Technology. Prior to this, he held a variety of senior roles at Aegon, NIBC ... Read the full article
Judge accuses US DoJ of wasting time in Aon – Willis trial
16th July 2021
In a hearing yesterday, the US Department of Justice agreed to adjust its timeline to deliver important information related to its earlier investigation of the antitrust case to the courts much faster than previously anticipated. These materials, part of the US Department of Justice's research before the court case even began, ... Read the full article
Lockton Re bolsters Specialty Division with Aon’s Eran Charit
16th July 2021
Lockton Re has announced the appointment of Eran Charit to its Specialty Division, joining later this year. Charit has been in the Political Risk and Credit Insurance broking space for over 10 years. He most recently served as Head of Structured & Capital Solutions at Aon. Before that he spent time with Gallagher. “I’m ... Read the full article
Aileen Mathieson takes Chief Investment role at Aspen
16th July 2021
Bermuda domiciled insurer and reinsurer Aspen Insurance Holdings has announced the appointment of Aileen Mathieson as Group Chief Investment Officer (CIO). Mathieson brings over 15 years of investment and financial experience and joins from Aberdeen Standard Investments where she was Global Head of Insurance. Prior to this, she was CIO, UK Life ... Read the full article
Stephen Young to lead IQUW’s new Bermudian arm
16th July 2021
Specialty re/insurer IQUW is set to launch in Bermuda with a range of third party client-related products and services, having secured regulatory approval last month. Former Chief Executive Officer of Sompo International Reinsurance Stephen Young will lead as CEO of IQUW Bermuda and Global Head of Reinsurance. Alongside Young’s appointment, Kate Hamilton ... Read the full article
Allstate’s June cat losses hit $154m, bringing Q2 total to $752m
16th July 2021
US primary insurer Allstate has announced estimated catastrophe losses for the month of June of $195 million or $154 million, after-tax. Together with losses of $598 million between the months of April and May, this brings Allstate’s total catastrophe losses for the second quarter of 2021 to $752 million, after-tax. Catastrophe losses ... Read the full article
Aon appoints Thompson to lead broking in EMEA region
16th July 2021
Re/insurance broker Aon has added Tracie Thompson as Chief Broking Officer for the EMEA region, excluding the UK. Thompson’s appointment is effective immediately and will see her report to Hugo Wegbrans, Global CBO, and Eduardo Dávila, CEO of Commercial Risk, Health and Affinity in EMEA (excluding UK). Based in Madrid, she will ... Read the full article
Insured losses from flooding across Europe to reach into the billions
16th July 2021
The insurance and reinsurance industry is expecting losses in the billions of Euros as a result of catastrophic flooding across parts of Europe, with the event poised to become one of the costliest flood episodes on record. In Germany, hundreds of people are missing and more than 100 lives have been ... Read the full article
IUA endorses UK building safety bill
16th July 2021
International Underwriting Association (IUA) has lent its support to the UK Government’s Building Safety Bill, which aims to provide insurers with greater confidence to develop new products for construction professionals. However, the IUA warns that the core aims of the legislation must be properly implemented, resourced and enforced. “The Bill is good ... Read the full article
Credit insurtech LimitFi closes seed funding round
16th July 2021
Limit Financial (LimitFi), a managing general underwriter (MGU) specializing in credit insurance and reinsurance solutions, has closed a seed funding round led by Des Moines-based ManchesterStory, a venture capital firm focused on the insurtech sector. LimitFi focuses on low-loss, conservatively structured credit risks where there is not considered to be an ... Read the full article
Chubb bolsters senior UK & Ireland Casualty team with two new hires
16th July 2021
Global insurer Chubb has announced two senior appointments to its United Kingdom & Ireland (UK&I) Casualty team. Ben Campey has been appointed London Corporate Casualty Manager, while Chris Templeton becomes UK&I Construction Casualty Manager. Campey will be responsible for leading and growing Chubb's London Middle Market casualty portfolio, working alongside business development ... Read the full article
Enstar set for $880mn share repurchase, $229mn stake in Enhanzed Re
15th July 2021
Legacy specialist Enstar Group is set to repurchase 3,749,400 of ordinary shares currently held by Hillhouse Capital Management for a total of $879.3 million. The shares represent Hillhouse’s entire interest in Enstar and consist of 16.9% total ordinary shares and 9.4% voting ordinary shares. The transaction is expected to close within a ... Read the full article
Miller hires Debbie Hobbs as Head of Cyber, Tech & Media
15th July 2021
Independent specialist re/insurance broker Miller has announced the appointment of Debbie Hobbs as Head of Cyber, Technology & Media. Hobbs joins from cyber MGA EmergIn Risk and will concentrate on growing Miller’s cyber, tech and media book. She will report into Head of Delegated Authorities & Professional Risks, Tim Norman. Tim Norman commented ... Read the full article
MS Amlin adds Richard Bayman as Head of Aviation Reinsurance
15th July 2021
Lloyd’s global specialty re/insurer MS Amlin Underwriting has announced the appointment of Richard Bayman as Head of Aviation Reinsurance. Bayman will take up the role in Q3 2021, subject to regulatory approval, and report directly to Matthew Wilken, Head of Reinsurance. Bayman brings more than twenty years of experience in the aviation ... Read the full article
AM Best stays negative on Mexico over pandemic concerns
15th July 2021
AM Best has decided to maintain its negative outlook on Mexico’s insurance market, due to continued concerns over the impacts of the COVID-19 pandemic. In 2020, the rating agency notes that Mexico’s insurers were able to generate minimal business, reflecting the limited economic response to the pandemic on a local level, ... Read the full article
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