Reinsurance News
PlanGap & Insurex partner on social security protection reinsurance
30th November 2021
Financial product innovation company PlanGap has formed a strategic partnership with insurance advisory firm Insurex to develop reinsurance solutions for the Social Security Protection marketplace. According to recent survey data, 7 out of 10 Americans age 45+ doubt they will receive their full Social Security benefits as promised. The primary concern is ... Read the full article
AM Best revises US workers compensation segment as stable
30th November 2021
According to rating agency AM Best, the impact of COVID-19 on insurers' balance sheets and operating performance has been stable, despite the ongoing uncertainty surrounding the COVID-19 pandemic from both economic and regulatory perspectives. Insurers' top lines were impacted early in the pandemic, but premium levels are returning to pre-pandemic levels, ... Read the full article
Zurich introduces electric vehicle protection products
30th November 2021
Zurich North America has released a suite of vehicle protection products designed to meet the unique needs of electric vehicle (EV) owners. The set of products provides coverage from the repair or replacement of high-voltage rechargeable batteries to roadside assistance for recharging EV batteries that run out of power mid-trip. They also ... Read the full article
Amwins Global Risks adds Tom Graham to lead casualty division
30th November 2021
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, has added Tom Graham to serve as director of its casualty division. Graham joins from Apollo Syndicate Management having most recently held the position of US casualty underwriter. He will now focus on business emanating from the US, Canada and ... Read the full article
Athene, Apollo acquires majority slice of $1bn-rated lending platform Aqua
30th November 2021
Financial services company Athene has acquired a controlling stake in a consumer lending platform backed with funds managed by leading investment firm Blackstone. Aqua Finance’s subsequent valuation sees it hit the $1 billion mark. Apollo is estimating an $80 billion annual run-rate of asset origination across its platforms, which span commercial and ... Read the full article
Lockton New Zealand names Peter Lowe as CEO
30th November 2021
Independent insurance broker Lockton New Zealand has appointed Peter Lowe as Chief Executive Officer. A qualified Chartered Accountant, Lowe has a background in alternative risk financing and reinsurance design, and has managed large global insurance programmes, including the design and placement of risk financing programmes. Previously the CEO, Director and Senior Vice President ... Read the full article
MS Amlin names PartnerRe’s Jörg Bruniecki CUO, EMEA
30th November 2021
Global reinsurer MS Amlin AG has appointed Jörg Bruniecki as Chief Underwriting Officer for Europe, the Middle East and Africa (EMEA), a Zurich-based role. Effective 2022 Bruniecki will report to Charles Goldie, CUO of the wider MS Amlin AG group With over 24 years’ experience across a range of executive leadership positions, ... Read the full article
Convex able to write reinsurance business in the US from January 1
30th November 2021
The operating subsidiaries of insurer and reinsurer Convex Group Limited have received approval from the National Association of Insurance Commissioners (NAIC) and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer. By obtaining reciprocal jurisdiction status, both Convex Insurance UK Limited (CIL) and Convex Reinsurance Limited (CRL) are ... Read the full article
DARAG Germany adds Dr. Christoph Wetzel to supervisory board
30th November 2021
Legacy acquirer DARAG Group has announced the addition of Dr. Christoph Wetzel to the supervisory board of its German insurance entity, DARAG Deutschland AG. Dr. Wetzel is currently the Chief Executive Officer (CEO) of fpb AG, a member of the ON Service Group. He has worked in the German insurance market for ... Read the full article
SMEs responded well to COVID-19 and Brexit: Marsh
30th November 2021
According to a new report by insurance broker Marsh, small and medium sized enterprises (SME) in the UK believe that their business continuity plans responded well to both the COVID-19 pandemic and Brexit, despite the disruption they have experienced since the beginning of 2020. However, the report also highlighted that since ... Read the full article
Storm Arwen could drive insured losses of up to £300m: PwC’s Khan
30th November 2021
Storm Arwen, which brought wind gusts of nearly 100mph to parts of the UK late on Friday, could result in insurance industry losses of between £250 million and £300 million, according to Mohammad Khan, General Insurance Leader at PwC UK. Across the country, heavy snow and severe winds caused widespread disruption ... Read the full article
QBE adds Ben Hunter from Liberty Mutual as Director of Canada
30th November 2021
Ben Hunter, currently of Liberty Mutual Canada, is set to join QBE in January 2022 as Director of Canada, reporting to Peter Burton, Executive Director, International Markets, QBE European Operations. Hunter takes over from Jamie Thompson who was named Director of Financial Lines, QBE European Operations in May. He brings a wealth ... Read the full article
RRB expands in APAC with Taiwan subsidiary
30th November 2021
Richmond Reinsurance Brokers (RRB) has established a subsidiary in Taiwan, obtaining the licence to provide reinsurance broking and risk consulting services for the Taiwan market. The new subsidiary will be led by CEO, Sung-Kook Cho who brings 30 years of experience in the insurance and reinsurance industries. He holds experience in providing ... Read the full article
Re/insurance pricing undergoing “period of dislocation”: HX’s Flandro
29th November 2021
David Flandro, Managing Director at HX Analytics, has said that the re/insurance market is “clearly going through a period of dislocation” when it comes to pricing, with multiple factors set to influence trends at the upcoming 2022 renewals. Speaking as part of HX’s re/insurer earnings review for Q3, Flandro noted that ... Read the full article
Eos to integrate ESG factors into investment decisions
29th November 2021
Eos Venture Partners (Eos), the venture capital fund focused exclusively on the insurtech sector, has committed to integrating environmental, social, and governance (ESG) factors, including closing the protection gap, into its investment decisions. Eos Partner Sam Evans says the global pandemic has highlighted the importance of resilience and the need to ... Read the full article
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