Reinsurance News
Tremor releases Fetch for following capacity markets
3rd December 2021
Tremor Technologies, a reinsurance pricing and placing platform, has released Tremor FetchTM, a tool which allows reinsurers to authorise following capacity and automatically receive their line at the cedent’s chosen clearing price. Reinsurers that choose to use FetchTM can note their minimum price and also the maximum share they would be ... Read the full article
Fannie Mae completes $1.2bn Credit Risk Transfer
3rd December 2021
U.S. government-sponsored enterprise Fannie Mae has completed its final Credit Risk Transfer (CRT) of 2021, covering $30.7 billion in unpaid principal balance (UPB) of generally 30-year original term, fixed-rate loans acquired from April through June 2021. The deal transferred nearly $1.2 billion of mortgage credit risk to private insurers and reinsurers. Since ... Read the full article
Aspen names MS Amlin exec Rob Houghton group COO
3rd December 2021
Bermudian re/insurer Aspen has added Rob Houghton as Group Chief Operating Officer, a role he's set to begin in early 2022. Houghton joins from MS Amlin, where he served as both Group COO and, more recently, Chief Executive Officer of its Business Services unit. Based in London, he will also be joining ... Read the full article
White Mountains names Liam Caffrey CFO
3rd December 2021
Former Aon executive Liam Caffrey has been appointed by financial services holding company White Mountains to serve as its next Chief Financial Officer, effective March 2022. Caffrey, who is currently serving as a consultant to a subsidiary of the White Mountains, previously spent nine years at Aon, as both Chief Executive Officer ... Read the full article
PPL next gen platform due in 2022, Masojada confirms
3rd December 2021
Bronek Masojada, Chair of the PPL Board, has said that delivery of the next generation of the platform will be in 2022. Speaking during a CEO Breakfast event this week, Masojada confirmed the timeline for the next phase of London Market's electronic placing platform. Originally rolled out in 2016, Placing Platform Limited ... Read the full article
Markel Intl. hires Robert O’Connor-Mitchell as senior surety underwriter
3rd December 2021
Markel International, a subsidiary of the Markel Corporation, has appointed Robert O’Connor-Mitchell as a senior surety underwriter, as the company plans to strengthen its current position in the surety market. O’Connor-Mitchell will report to Damian Manning, head of surety at Markel International, as he promotes Markel’s surety product offerings. Additionally, alongside Manning, ... Read the full article
John Chen to step down as President of Swiss Re China
3rd December 2021
Reinsurer Swiss Re has announced that John Chen has decided to retire from his role as President of Swiss Re China and General Manager of the Beijing Branch. Chen will step down as of January 31, 2022, following five years at Swiss Re. Swiss Re has asked Brian Han, Deputy Head of ... Read the full article
Sompo Intl’s UK legal entity awarded CII ‘Chartered Status’
3rd December 2021
Endurance Worldwide, the UK legal entity of Sompo International, has been awarded the title of 'Chartered Insurer' title by the Chartered Insurance Institute. It is one of only 34 firms to have achieved this particular status. Julian James, Chief Executive Officer, International Insurance, noted his delight at having achieved such an ... Read the full article
Australian Gov releases draft legislation on $10bn cyclone reinsurance pool
3rd December 2021
Draft legislation designed to establish a reinsurance pool for cyclone and cyclone-related flood for privately-owned homes, strata corporations and small businesses insurance policies in Australia, has been welcomed by insurers in the country. Australia’s Federal Government announced in May the establishment of a $10 billion reinsurance pool, and since then ... Read the full article
Allianz in $35bn reinsurance agreement with Resolution Life & affiliates of Sixth Street
3rd December 2021
Allianz Life, part of the global insurer and reinsurer, has announced a new reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35 billion fixed index annuity portfolio. The arrangement is in line with the firm's strategy to unlock value in its ... Read the full article
Howden to utilise hull & cargo solutions from Concirrus
3rd December 2021
International insurance broker Howden is planning to utilise the Quest Marine Hull and Quest Cargo solutions by insurtech Concirrus as part of a digital transformation program. Howden will be the first company in the broker market to utilise Quest Cargo to inform the development of xTrade Cargo, its new digital platform ... Read the full article
TEAM develops GARNet investment structure for re/insurers
3rd December 2021
Bermuda-based firm, TEAM International (Holdings), Ltd., has announced the development of a new investment structure intended for application in the insurance and reinsurance industries. The Guaranteed Adjustable-Rate Note (GARNet) has been designed specifically for long-term, high-grade investors, with re/insurers thought as particularly likely to benefit from their capital efficiency when held ... Read the full article
Bond to lead Marsh’s climate and sustainability innovation efforts
2nd December 2021
Re/insurance broker Marsh has named Ryan Bond to lead its climate and sustainability insurance innovation efforts, a role effective in the new year. Based in London, Bond will report to Amy Barnes, Head of Climate and Sustainability Strategy. Having joined the business in 2007, he will now be responsible for leading the ... Read the full article
Andy Higginson named Chairman of Ardonagh Retail
2nd December 2021
Global insurance brokerage and service provider, The Ardonagh Group, has announced the appointment of Andy Higginson as Chairman of Ardonagh Retail, its online consumer business which caters for 3 million customers in the UK and Ireland. Ardonagh Retail trades under a number of brands including Swinton, Carole Nash and Autonet, and ... Read the full article
Blue Island Technology launches new risk engine
2nd December 2021
Blue Island Technology (BIT) has launched Blue Lightning, a cat risk analytics and roll-up engine. The engine is designed to run alongside a customer’s existing portfolio management system to provide a fast and responsive analytics and roll-up solution. With the ability to scale up and out, coupled with intelligent caching, Blue Lightning ... Read the full article
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