Reinsurance News
TISE lists first humanitarian cat bond
29th November 2021
The International Stock Exchange (TISE) has listed the world's first humanitarian catastrophe bond, which covers pure volcanic eruption. The bond was issued by Dunant Re IC, an Incorporated Cell of Replexus ICC (Guernsey), and has been listed on TISE's Qualified Investor Bond Market (QIBM) and admission to its sustainable market segment, TISE ... Read the full article
Bermuda’s long-term re/insurance sector assets reaches $667 billion: BILTIR
29th November 2021
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has released a report which shows the widespread economic and social benefits which the organisation brings to Bermuda. The report shows that the Bermuda life re/insurance sector companies hold $667 billion of assets under management. BILTIR member companies contribute $500 million in direct and ... Read the full article
Moody’s launches asset-liability management tool for insurers
29th November 2021
Moody’s Analytics has announced the launch of RiskIntegrity Investment Insight, an asset-liability management (ALM) solution for insurance companies. The new tool combines data and modeling capabilities from across Moody’s Analytics to help insurers to build liability-aware investment portfolios and better evaluate their investment strategies across a range of business metrics. “Insurers are ... Read the full article
Brit’s Ki enters into $130m Sustainability Linked Funds at Lloyd’s LOC
29th November 2021
Ki, the fully digital and algorithmically-driven Lloyd’s syndicate launched by Brit in collaboration with Google Cloud, has entered into a $130 million Sustainability Linked Funds at Lloyd's Letter of Credit Agreement. Ki entered into the facility with its banking partners Barclays Bank plc, Sumitomo Mitsui Banking Corporation, and NatWest Bank plc. Led ... Read the full article
AIG hires Donna Pearlman to lead Reinsurance Operations
29th November 2021
Global insurer and reinsurer, American International Group, Inc. (AIG), has added Donna Pearlman to the newly created role of Reinsurance Operations Lead. In her new role, Pearlman takes on responsibility for reinsurance at AIG, reporting to Gerald Yeung, Global Head of Ceded Re Placement Operations. She joins the re/insurer after running her ... Read the full article
WTW partners with software provider CodeEast on digital solution
29th November 2021
Re/insurance broker Willis Towers Watson (WTW) and software provider CodeEast have announced a global partnership offering a new digital transformation solution for insurance companies and MGAs. Combining WTW’s Radar Live with CodeEast's ONEview digital insurance platform, the solutions is designed to maximise profit margins and reduce operational costs using product distribution ... Read the full article
Ardonagh adds to Geo Underwriting & Bravo Networks leadership
29th November 2021
The Ardonagh Group has announced the addition of Jaime Swindle to the leadership team of its platform, Geo Underwriting, and the appointment of Scott Bennett as Managing Director of Bravo Networks. Swindle will support the development of Geo Underwriting’s UK commercial MGA proposition from 1 December. She will join Derek Coles’ executive ... Read the full article
PRA sees potential for reforms to help re/insurers invest
29th November 2021
The Prudential Regulation Authority (PRA) believes there is an opportunity to consider reforms that would help insurers and reinsurers invest in the UK economy. Speaking at the Insurance Asset Management Conference, Charlotte Gerken, Executive Director for Insurance at the PRA, insisted that the regulator remains “open and ready to listen to ... Read the full article
Allianz makes senior appointments within Global Commercial division
29th November 2021
Elizabeth Cabrera and Joana Moniz have been appointed to the newly established Allianz Global Commercial Group Center as Head of Underwriting Strategy & Planning and Global Head of Long Tail Lines, respectively. Cabrera joins the Chief Underwriting Office with effect from November 1st and Moniz from December 1st, with both ... Read the full article
WTW adds MacCarthy to CRB business as Head of Asia Casualty
29th November 2021
Global re/insurance broker Willis Towers Watson has added Ben MacCarthy to its Corporate Risk and Broking (CRB) business as Head of Casualty Asia, effective December 1. MacCarthy will be based in Hong Kong and reports to Paul Ward, Head of Global Markets P&C in Asia at WTW. He brings over 15 years' experience ... Read the full article
Heritage announces partnership with insurtech Slide, acquires 6% stake
29th November 2021
Heritage has announced an extensive strategic partnership with insurtech Slide, a deal that will see the property and casualty insurance holding company enhance its underwriting and rating decision capabilities with new technologies. Heritage is set to take a 6% equity stake in the insurtech P&C carrier, as well as a perpetual, royalty free ... Read the full article
Aon announces launch of Saudi-based reinsurance unit
29th November 2021
Re/insurance broker Aon has announced the formation of a new reinsurance broking unit in Saudi Arabia, Aon Reinsurance Brokers Saudi Arabia LLC (ARBS), with the firm adding Mohammad Al Marhoon to lead as managing director. ARBS received a reinsurance broking licence from the Saudi Central Bank (SAMA). This development is seen as particularly ... Read the full article
Reinsurance pricing expectations high across lines, survey shows
26th November 2021
Data from the latest Reinsurance News market survey, undertaken in collaboration with our sister-site Artemis, shows that market participants overall are expecting price rises across all business lines next year, with loss-affected lines in particular forecast for large increases. The survey looked at responses from hundreds of identifiable market ... Read the full article
Strategic Risk Solutions acquires Global Re SCC in Barbados
26th November 2021
Strategic Risk Solutions (SRS), a provider of insurance management and consulting services, has announced the acquisition of Global Re SCC, a Barbados-registered Segregated Cell Company (SCC). Established in 2004 under the Companies Act of Barbados with a Class 1 license, Global Re SCC engages in both general insurance business and long-term ... Read the full article
Cybercube warns underwriters after GoDaddy attack
26th November 2021
New research has highlighted how a Single Point of Failure (SPoF) cyber attack represents one of the most likely ways the world could experience its first systemic cyber event, according to analytics company, CyberCube. The GoDaddy breach is the latest in a series of cyber attacks on SPoFs including the SolarWinds ... Read the full article
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