Reinsurance News
Aston Lark announces key ES Risks acquisition
6th July 2021
Chartered insurance broker Aston Lark has acquired ES Risks, a company offering bespoke and niche wholesale re/insurance facilities to industry clients. Covering all classes of business, ES Risks strives to demonstrate a dedication to delivering profitable growth, a strong brand and top tier service to all parties. “The ES Risks team brings ... Read the full article
AIG underlines sustainability targets in first ESG report
6th July 2021
Global re/insurer American International Group (AIG) has released its first Environmental, Social and Governance (ESG) report which details its progress toward supporting a more sustainable future for its stakeholders. The report outlines how the company is aligning its sustainability efforts with its core business strategy and describes how AIG identifies, measures ... Read the full article
Markel adds Kristin Towse as speciality underwriting officer
6th July 2021
Markel Corporation has announced today that Kristin Towse has joined as Executive Underwriting Officer for its Specialty division. Towse will be responsible for leading the Products and Regulatory Services and Risk Solution Services teams. She will also be responsible for further building out Markel Specialty multiline capabilities, focusing on industry verticals. "Kristin's proven ... Read the full article
Tindall launches new TAI Treaty product
6th July 2021
Tindall Associates Inc. (TAI) has launched its new product, TAI Treaty, a digital solution for treaty management. The product uses machine learning to produce a data warehouse, containing all treaties, amendments, and related documents, and provides search functionality to easily navigate and export information. Through the TAI platform, clients can administer and ... Read the full article
ARPC welcomes Terrorism Insurance Act review
6th July 2021
The Australian Reinsurance Pool Corporation (ARPC) has welcomed the new terms within the 2021 Triennial Review of the Terrorism Insurance Act 2003 (TI Act), which will be conducted by the Treasury. The review will asses whether or not there continues to be market failure in the private sector supply of terrorism ... Read the full article
The goal is to create a single source of truth data environment, says Swiss Re’s Haycock
5th July 2021
As data quality challenges continue to hinder insurers and reinsurers, Swiss Re is looking to overcome some of the inefficiencies and develop a habitat in which valuable data is discoverable, accessible, and trusted. This is according to Swiss Re’s inaugural Chief Data Officer, Ian Haycock, who spoke with Reinsurance News recently ... Read the full article
Constellation acquires Columbian Financial Group
5th July 2021
Constellation Insurance Holdings has announced plans to acquire Columbian Mutual Life Insurance Company in a deal that will involve the conversion of Columbian to a stock company and the issuance of all of its newly issued stock to Constellation pursuant to a sponsored demutualization. Constellation, an insurance holding company, is backed ... Read the full article
AXA XL appoints Marine Ress casualty CUO for Europe
5th July 2021
AXA XL Insurance has appointed Marine Ress as Chief Underwriting Officer, Casualty, APAC & Europe, a Paris based role. Ress’ appointment is effective October 1 and will see her oversee the management of AXA XL’s casualty portfolio. She’ll work closely with local underwriting teams and be responsible for the underwriting strategy for ... Read the full article
Player’s Health hires Naveen Anand as President of Insurance
5th July 2021
Insurtech start-up, Player’s Health has appointed Naveen Anand as its new President of Insurance. Anand brings over 30 years’ experience in the North American property and casualty insurance market, previously holding leadership roles at Chubb, CNA, Torus, and Hallmark Financial Services. He will be in charge of insurance strategy and growth for ... Read the full article
Midwest secure reinsurance agreement with American Republic
5th July 2021
Technology-enabled, services-oriented life and annuity platform Midwest Holding has announced that its American Life & Security Corp (ALSC) subsidiary has entered into a reinsurance agreement with American Republic Insurance Company (ARIC). The agreement is renewable on an annual basis, subject to potential adjustment of the quota share, up to $100 million ... Read the full article
UPC Insurance estimates $40mn Q2 cat loss
5th July 2021
Property and casualty holding company UPC Insurance incurred around $40 million in pre-tax natural catastrophe losses during the second quarter of 2021, approximately $31 million after tax. The company’s estimated catastrophe losses includes claims from two new tropical storms and fourteen new PCS catastrophe events that occurred during the second ... Read the full article
BMS hires Andrew McKenzie as Northern Region manager, Australia
5th July 2021
Independent broker BMS has appointed Andrew McKenzie as Northern Region manager of financial lines in Australia. Based in Brisbane, McKenzie will report to Stuart Davies, head of financial lines at BMS Australia. He joins BMS in Australia from his most recent role as Director of Specialties at Aon, where he also led ... Read the full article
Bermuda joins OECD global taxation plan
5th July 2021
The Government of Bermuda has announced that the country will join the OECD ('Inclusive Framework') for international taxation. Bermuda says the move reflects its commitments to transparency, cooperation and high levels of compliance with international standards. Curtis Dickinson, the Minister of Finance for Bermuda, has previously responded to the global minimum ... Read the full article
ABI welcomes government’s response to Solvency II
5th July 2021
The Association of British Insurers (ABI) have welcomed the UK Government's confirmation that it will reform Solvency II to enable the insurance sector to meet its ambitions and maximise its contribution to climate change investment. Commenting on the announcement, Charlotte Clark, Director of Regulation, ABI, said: “Solvency II reform will be ... Read the full article
Charterhouse announces sale of broking subsidiary Siaci
5th July 2021
Private equity firm Charterhouse has entered into exclusive negotiations to sell Siaci Saint Honoré, a leading global B2B insurance brokerage, to a consortium of investors led by Burrus Group. This deal will prompt the formation of a newly combined group, one which will contain an independent European ... Read the full article
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