Reinsurance News
Obsidian expands in California with Western Home acquisition
9th July 2021
Obsidian Insurance Holdings has expanded its presence in California with the acquisition of admitted carrier Western Home Insurance Company from Western National Mutual Insurance Company. Western Home, a Minnesota domestic insurer, is commercially domiciled in California, and holds certificates of authority in five other states. The company is being acquired as a ... Read the full article
Re/insurance pricing trends improving across all primary lines, says RBC
9th July 2021
Pricing trends continue to improve in almost all lines of business in both primary insurance and reinsurance, according to analysis from RBC Capital Markets. Analysts expect to see prices continue to increase with specialty and commercial lines increasing faster than reinsurance prices. Furthermore, there’s an expectation that margins are beginning to improve ... Read the full article
Aon / WTW merger cleared by European Commission
9th July 2021
The ongoing merger between re/insurance broking giants Aon and Willis Towers Watson has cleared a significant hurdle today with breaking news of the deal’s approval by the European Commission. The approval is described as conditional on full compliance with a substantial set of commitments offered by Aon, including the divestment of ... Read the full article
Signal Mutual promotes Justin Gardner to lead as CEO
9th July 2021
Signal Mutual, a provider of Longshore benefits in the US, has appointed Justin Gardner as its new Chief Executive Officer, as part of a succession plan that sees him succeed Richard Wood. Wood will continue to serve in an advisory capacity as a director on Signal’s board and as CEO of ... Read the full article
FM Global names Malcolm C. Roberts as President & CEO
9th July 2021
Commercial property insurer FM Global has appointed Malcolm C. Roberts as President and elected him to its board of directors. Roberts, who previously served as Executive Vice President, will also succeed Thomas A. Lawson as Chief Executive Officer, effective Jan. 1, 2022. Roberts joined the mutual insurance company in 1995 as a ... Read the full article
Argo Group announces two senior promotions
9th July 2021
Specialty re/insurer Argo Group International Holdings has appointed Mary Henderson as president of Argo Pro and Rich Fachet as Senior Vice President, head of financial institutions. With over 25 years of experience in the insurance industry, Henderson joined Argo from Travelers Companies, where she spent 14 years serving in several roles, ... Read the full article
Jencap acquires Lloyd’s coverholder Worldwide Special Risks
9th July 2021
Wholesale program management and binding authority business Jencap has acquired Lloyd’s coverholder underwriting agency Worldwide Hole ‘N One (WHNO). Through its primary brand, Worldwide Special Risks (WWSR), the company services the live events market with a range of covers including cancellation, non-appearance, and event property and liability. Additional lines, set to include ... Read the full article
Sompo Intl. expands P&C unit with launch of Sompo GRS Asia-Pacific
9th July 2021
Bermuda domiciled insurer and reinsurer, Sompo International Holdings Ltd., has announced the establishment of Sompo Global Risk Solutions (GRS) Asia-Pacific within its Commercial Property & Casualty (P&C) segment. The expansion sees the formation of a new team in Singapore to serve select industries in the Asian markets via appointed brokerages. The launch ... Read the full article
Hiscox hires Riaz Thanduparakkal as Line Underwriter, Energy
9th July 2021
Global insurer Hiscox has appointed Riaz Thanduparakkal as Line Underwriter, Energy to lead its underwriting team in developing their product offering for the energy sector. Thanduparakkal, who will be based in Hiscox’s London office, joins after working for Chubb Group for over 10 years. At Chubb he recently held roles including Product ... Read the full article
Consilium announces new DUA service for coverholders
9th July 2021
Consilium, an international re/insurance broker and part of the Aventum Group, has announced the launch of a new global delegated underwriting authority (DUA) service for coverholders, which aims to disrupt the current market for binder placements. The service, called Exponential, is available to both insurance and reinsurance coverholders and will provide ... Read the full article
Amynta Group promotes Shawn Ellis to EVP and CEO of warranty business
9th July 2021
Amynta Group has appointed Shawn Ellis as Executive Vice President and Chief Executive Officer of Amynta Warranty. In Ellis’ new position, he will be responsible for leading its warranty business operating as Warranty Solutions, Warrantech and Guardsman. Ellis currently serves as the President of Amynta's subsidiary, PDP Group, providing specialty insurance and ... Read the full article
Paris climate targets not possible without giant carbon removal industry: Swiss Re
8th July 2021
Reaching the Paris climate targets won’t be possible without a carbon removal industry the size of oil & gas, according to a new report from Swiss Re. The reinsurance giant has said that reducing CO2 emissions should be a priority, followed by removing any other unavoidable emissions from the atmosphere and ... Read the full article
PrimeOne adds Swiss Re’s Hinman as CUO
8th July 2021
Privately held specialty commercial lines carrier PrimeOne has appointed Darrin Hinman to serve as its Chief Underwriting Officer from August 1. Hinman joins from Swiss Re, where he served as Vice President of Actuary and Senior Treaty Underwriter since July 2011. He also spent time as pricing actuary on the global casualty ... Read the full article
W. R. Berkley names new president of Berkley Fire & Marine
8th July 2021
W. R. Berkley Corporation has appointed David Higley as president of Berkley Fire & Marine. Higley joins Berkley Fire & Marine with over 30 years of commercial property and casualty insurance experience, including more than 10 years in executive leadership roles in the marine market. He most recently served as senior vice ... Read the full article
Spring Partners hires Emma Stanford as Lead Underwriter
8th July 2021
Spring Partners, a joint venture from broker Aston Lark, has appointed Emma Stanford as Lead Underwriter. Stanford brings a wealth of experience in the Financial Lines Industry, most recently as Head of UK Financial Institutions at AXA XL. Spring has also confirmed that its capacity support for Financial Institutions with Beazley has ... Read the full article
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