Reinsurance News
AXA XL launches Disaster Recovery Hub with Cambridge Centre for Risk Studies
19th November 2021
AXA XL has launched a new online Disaster Recovery Hub comprised of more than 100 major disaster case studies in partnership with the Cambridge Centre for Risk Studies at Cambridge Judge Business School. The Hub includes data visualisations and other tools to assess the role the insurance industry can play in ... Read the full article
GCM Grosvenor raises $500m for insurer-focused alternatives strategy
19th November 2021
Global alternative asset management solutions provider GCM Grosvenor has secured $500 million backing to develop a structured alternative investment solution. The vehicle will look to invest in alternative strategies like private equity, infrastructure, absolute return strategies, and alternative credit. Led by GCM Grosvenor Insurance Solutions, which the firm formed in June, the ... Read the full article
AmRisc Group appoints Molly Nickoles as Waypoint Wholesale CEO
19th November 2021
AmRisc Group, the US catastrophe-focused managing general agent, has appointed Molly Nickoles as CEO of Waypoint Wholesale, the company’s wholesale brand. Nickoles previously served as the chief underwriting officer for the Builders Risk product. Based in Birmingham, she started her career as a senior underwriter with AmRisc Group in 2003. “Molly embodies our ... Read the full article
Zurich CEO ‘very confident’ on 2022 targets
19th November 2021
Zurich Chief Executive Officer Mario Greco says he is "very confident" that his group can deliver on its 2022 targets, citing investment in developing customer service satisfaction and deployment of new technologies, as well as an overall adjustment of services in response to customer needs. His comments come as the group ... Read the full article
Former Hiscox director Chris Sharpe joins Inver Re
19th November 2021
Inver Reinsurance Brokers Limited (Inver Re), The Ardonagh Group's recently launched reinsurance broker, has announced the appointment of Chris Sharpe as Strategy, Innovation and Business Development Director. Sharpe previously helped to set up Hiscox’s business in Bermuda, before going on to create Hiscox Re by bringing together the company’s reinsurance operations ... Read the full article
Descartes partners with Global Earthquake Model Foundation
19th November 2021
Climate risk modelling insurtech Descartes Underwriting has partnered with the Global Earthquake Model (GEM) Foundation. GEM Foundation is an international public-private partnership committed to the development of open-source hazard and risk assessment software, tools and data. The collaboration aims to accelerate the ‘data to resilience’ continuum by leveraging Descartes’ parametric insurance solutions ... Read the full article
Amwins Special Risk Underwriters expands into professional lines
19th November 2021
Amwins Special Risk Underwriters has launched an Executive D&O Liability product marking an expansion beyond the property market, which the MGA has been writing exclusively for Amwins brokers since 2008. This non-admitted program will entertain excess public D&O risks and be written on A-(VIII) rated paper and supported by A+ and ... Read the full article
Tokio Marine Intl. non-life profit up by 200%
19th November 2021
Total non-life profits from the international operations of re/insurance holding company Tokio Marine rose by 199.2% to $1.1bn in the second quarter of 2021’s financial year. The improved performance was driven by North America, although a better result was also evident in its European operations. According to Tokio Marine, its international operations ... Read the full article
Sompo International profits recover to $313m in H1
19th November 2021
Bermuda-based specialty P&C re/insurer Sompo International Holdings has recorded adjusted profit of $313 million for its fiscal H1 period, bouncing back from a loss of $14 million for the same period last year. The company reported a marked improvement in profits over the six months ending September 30th, mainly due to ... Read the full article
MS Amlin reports H1 loss on Ida and European floods
19th November 2021
MS Amlin has reported a £101 million adjusted loss for the first half of the year, despite a 10.9 percentage point improvement in its combined ratio to 99.9% for the period. The main reason for the negative result was catastrophe losses in the period, driven mostly by the impacts of Hurricane ... Read the full article
Lemonade appoints USAA’s Sean Burgess as Chief Claims Officer
19th November 2021
Auto insurtech Lemonade has appointed Sean Burgess as Chief Claims Officer, a role he takes on after more than 25 years serving the military community and their families at USAA. Burgess will oversee all of Lemonade's key claims functions across the US and EU, reporting to Gavin Blair, SVP, Customer Operations. As ... Read the full article
ICA calls for AU$30bn investment to meet rising coastal threat
19th November 2021
A new report released today by the Insurance Council of Australia (ICA) estimates that the country's governments will need to invest $30 billion in large scale coastal protection and adaptation projects over the next 50 years, in order to mitigate the effects of climate change. With cover for actions of the ... Read the full article
Non-African reinsurers must adapt to Africa, not vice versa: Neema
19th November 2021
Unlocking the enormous opportunities in the African market will require reinsurers to adapt their approach based on local realities, not the other way around, according to African specialist underwriting agency, Neema Insurance Managing Agency, which has recently celebrated its first year of operations with very strong results. During an interview with ... Read the full article
Alta Signa welcomes opening of Bordeaux office
19th November 2021
Alta Signa, a European boutique Managing General Agent, has announced the opening of a new office in Bordeaux, following a regulatory breakthrough. The office, first established in December 2020, was Intended to facilitate the offering of financial lines products such as Commercial Directors & Officers (D&O), Commercial Professional Indemnity, Cyber, Crime, and ... Read the full article
Taussig Capital eyes SPAC-focused D&O insurance initiatives
19th November 2021
Taussig Capital, an advisory firm focused on asset managers, family offices, insurers, reinsurers, and banks, is to launch a Directors and Officers (D&O) insurance product geared towards Special Purpose Acquisition Companies (SPACs). A SPAC is a company that has no commercial operations and is formed strictly to raise capital. Taussig Capital CEO Joseph ... Read the full article
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