Reinsurance News
WTW appoints Anthony Monaghan to Industry Transportation Leader role
1st December 2021
Global re/insurance broker Willis Towers Watson has named Anthony Monaghan as GB Industry Transportation Leader for its Risk & Broking Division in GB. Monaghan joins from Marsh, where he most recently led their Manufacturing & Automotive Industry. Prior to MMC’s acquisition of JLT, he was Marsh’s Transportation Leader for the UK and ... Read the full article
German primary insurers’ capital levels are credit positive: Fitch
1st December 2021
According to Fitch Ratings, German primary insurers’ ratings which are supported by their capital positions, has improved in recent years. The rating agency highlighted that insurers’ capital positions are generally at least level with the ratings assigned, with ‘Very Strong’ or ‘Extremely Strong’ Prism Factor-Based Capital Model (FBM) scores. Most ratings are ... Read the full article
Singapore fintech Pand.ai launches broker with Allianz, Etiqa & MSIG
1st December 2021
Fintech startup Pand.ai has announced the launch of GINA.sg, an English-Chinese bilingual WhatsApp Chatbot that helps car owners in Singapore find motor insurance. GINA.sg will be launched in partnership with insurers Allianz, Etiqa and MSIG. It will offer digital brokerage services for general insurance under the Monetary Authority of Singapore (MAS) Fintech ... Read the full article
Severe stagflation scenario would hurt insurers, warns Swiss Re
30th November 2021
Analysts at Swiss Re have warned that a severe ‘stagflation’ event, similar to that seen in the 1970s, would hurt re/insurers due to weakening premium revenues and poor investment returns. The reinsurer defines stagflation as persistently high inflation coinciding with weak economic growth and high unemployment. A surge in US Consumer Price ... Read the full article
Charles Lee to lead AXA XL’s US South West Global Risk Management business
30th November 2021
AXA XL has appointed Charles Lee to lead its Global Risk Management business in the South West Region of the US. Lee joins AXA XL from Chubb where he was Senior Vice President, Global Client Executive and led the Global Casualty Pacific South Region in Los Angeles. He has also been ... Read the full article
SCOR strengthens biodiversity commitment
30th November 2021
French reinsurer SCOR has joined act4nature international, an alliance of companies committed to accelerating concrete business action in favour of nature and biodiversity. Signatory of the Finance for Biodiversity Pledge and member of the Finance for Biodiversity Foundation, SCOR has made additional biodiversity-related commitments as part of the act4nature alliance. The reinsurers new ... Read the full article
Alliant appoints O’Malley to senior cyber position
30th November 2021
Alliant Insurance Services has announced the appointment of Meghan O’Malley as First Vice President. She will lead the Western region, providing cyber solutions for Alliant clients located west of the Mississippi River. Prior to joining Alliant, O’Malley served as Divisional Director for Cyber and Technology Solutions at Howden Specialty in London where ... Read the full article
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
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