Reinsurance News
9M results show $6bn underwriting loss for US P&C industry: AM Best
22nd November 2021
Increased losses and expenses in the US property and casualty (P&C) industry during the first nine months of 2021 led to a $6.1 billion underwriting loss for the period, according to a new AM Best report. According to the report, the P&C industry recorded 8.2% growth in net earned premiums and ... Read the full article
Georgette Nicholas named as Midwest Holding CEO
22nd November 2021
Georgette Nicholas has been named as Chief Executive Officer (CEO) of Midwest Holding Inc, following the resignation of Co-CEO A. Michael Salem. She will take over as the sole CEO of the company effective immediately, as former Co-CEO Mike Minnich transitions into the role of President, while retaining his responsibilities as ... Read the full article
Gallagher hires Adam Finch as Managing Director of Rentguard
22nd November 2021
Gallagher has appointed Adam Finch as Managing Director of landlord and property specialist Rentguard. Rentguard, part of Gallagher’s SME and personal lines offering within its UK Retail division, was acquired by Gallagher in 2019 and provides property insurance products and services primarily to the residential and commercial lettings market. In his new ... Read the full article
Jillian Slyfield takes Chief Innovation Officer role at Aon
22nd November 2021
Re/insurance broker Aon has announced the appointment of Jillian Slyfield as its new Chief Innovation Officer, effective December 1st. Slyfield joined Aon in 2015 and most recently served as Digital Economy Practice Leader, where she addressed digital disruption of traditional industries and the on-demand economy. Prior to this, she served as an ... Read the full article
Vesttoo receives $15mn in Series B funding round
22nd November 2021
Alternative Reinsurance and Investment platform, Vesttoo has announced its $15 million Series B equity investment from Mouro Capital and MS&AD Ventures, the corporate venture capital fund of Japan-based MS&AD Insurance Group Holdings. The Series B round, which comes just three months after Hanaco Ventures led the company's Series A round, will ... Read the full article
Slide raises $100mn in Series A funding round
22nd November 2021
Homeowners insurtech Slide has announced it has raised $100 million in a Series A funding round, led by Gries Investment Funds and Tampa Bay Ventures. Slide’s technology leverages a dataset to power new advances in artificial intelligence and machine learning for modern homeowners, who can create bespoke insurance policies that fit ... Read the full article
K2 Insurance hires Scott Carpinteri to lead new parametric MGA
22nd November 2021
K2 Insurance Services has launched a new MGA, K2 Parametric which will be led by Scott Carpinteri, a well-known expert in the Parametric Insurance space. Carpinteri brings over 25 years of insurance experience, with the last 6 having been spent with Swiss Re Corporate Solutions where he has helped advance the ... Read the full article
Apollo gains Lloyd’s approval for ibott syndicate 1971
22nd November 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has been granted approval from Lloyd’s to establish and manage ibott syndicate 1971 for 2022. It has also been granted Permission to Underwrite in accordance with the agreed business plan. The ibott SPA 1971 was launched in January 2019 at Lloyd’s and specialises ... Read the full article
Pool Re’s Enoizi to step down as CEO
22nd November 2021
UK government-backed terrorism reinsurer Pool Re has announced that its current Chief Executive Officer Julian Enoizi will step down from his position in the spring of 2022. Enoizi has spent the past eight years leading the company and has spearheaded global collaboration through the foundation of the International Forum of Terrorism ... Read the full article
Retail profit erosion leaves Moody’s negative on European P&C
22nd November 2021
Europe's P&C insurers, who had benefited from lower retail claims during the pandemic, are expected to find difficulty with sluggish price growth and have received a negative outlook from Moody's. Analysts see the P&C cycle as one in transition, with claims frequency returning to normal levels and inflation continuing its steep upwards ... Read the full article
LIIBA CEO cautiously optimistic on UK’s financial services regulatory regime
22nd November 2021
Christopher Croft, CEO of broker body LIIBA, says governmental input into the UK’s future financial services regulatory regime has so far contained many of the ingredients needed to foster a vibrant commercial insurance sector, capable of flourishing across markets globally. However, Croft stressed how the "proof is in the pudding" and that ... Read the full article
Sompo International expands partnership with Praedicat
22nd November 2021
Sompo International Holdings Ltd., the global Bermuda-based specialty provider of property and casualty insurance and reinsurance, has expanded its partnership with Praedicat, the liability emerging risk analytics company. The expanded partnership will enable Sompo International to use Praedicat’s emerging risk framework, probabilistic liability catastrophe model and a new litigation tracking capability ... Read the full article
UK competition authority clears Gallagher acquisition of Willis Re
22nd November 2021
The UK’s Competition and Markets Authority (CMA) said this morning that it has ended its investigation into and cleared Arthur J. Gallagher & Co's (Gallagher) planned acquisition of the Willis Re treaty reinsurance business. The investigation has been ended as the CMA has decided now further action is required and said ... Read the full article
ICAP announces solar derivative deal in Australia
22nd November 2021
ICAP, part of the TP ICAP Group, a global markets infrastructure and data solutions provider, has completed a deal in the weather derivatives market in Australia, bringing together a renewable energy provider and a reinsurance company participant with a fixed agreement for the first time. The transaction, brokered by ICAP, has ... Read the full article
Industry needs to reprice large parts of cat business: SiriusPoint’s Sankaran
19th November 2021
Sid Sankaran, Chairman and CEO of SiriusPoint, has argued that the re/insurance industry needs to reprice large parts of its property catastrophe business in order to generate acceptable net returns. Speaking as part of the company’s Q3 earnings call, Sankaran maintained that SiriusPoint remains committed to property reinsurance, but intends to ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
