Reinsurance News
Former AXA XL duo to launch Specialty Insurance Cell
2nd June 2021
Former AXA XL Executive Jonathan Beck and Underwriter Richard Spurrier are set to launch a new Specialty Insurance Cell focused on land-based and maritime Kidnap and Ransom, Fine Art, Jewellery and Classic Car risks. The Cell, named ANT Exceptional Risks, launches alongside Special Purpose ILS vehicle ANT Insure. Ant Insure has been ... Read the full article
Amwins Global Risks adds senior brokers to London, Amsterdam offices
2nd June 2021
Specialist re/insurance broking and risk management firm Amwins Global has announced the appointment of senior brokers Phil Johnson and Mark Ritson to its London office and Ewoud Dekker within its Amsterdam team. Johnson joins from Miller Insurance Services, where he served as head of international casualty. In his new role, Johnson will ... Read the full article
AF Group partners with Waypoint to enter assumed reinsurance market
2nd June 2021
Specialty insurer AF Group has entered into the assumed reinsurance marketplace through a new partnership with Waypoint Underwriting Management. Waypoint will begin underwriting property, workers' compensation and casualty treaty reinsurance for and on behalf of AF Group at the beginning on July. The assumed reinsurance product is part of AF Group's AF ... Read the full article
Industry veterans team up on new fronting company, Concert
2nd June 2021
A newly-formed business dedicated to insurance fronting has launched today, after securing the required capital from its founders. Concert Group Holdings has been established by Strategic Risk Solutions’ Brady Young, Southern Insurance Underwriters’ Wes Duesenberg and Christopher Collins from Corinthian Re. Concert has been formed in partnership with Century Equity Partners and ... Read the full article
Progressive completes takeover of Protective Insurance
2nd June 2021
Property and auto-focused insurance group Progressive has announced the completion of its acquisition of Protective Insurance Corporation for approximately $338 million. First announced in February 2021, the transaction saw Protective shareholders receive $23.30 per share in cash, without interest, for their Class A and Class B common shares. The per share ... Read the full article
“Significant traction” for parametric solutions to pandemic: Artemis Live
2nd June 2021
Industry experts, speaking as part of the latest Artemis Live webcast, have said they believe there is "significant traction" for re/insurance solutions to leverage technology and hedge pandemic risk using parametric triggers. Last week's webcast, entitled “Hedging the Next Pandemic with Parametric Capital ... Read the full article
TigerRisk hires Bonner to lead Trade Credit, Surety, and Political Risk business
2nd June 2021
TigerRisk Partners has appointed Phil Bonner to lead its newly created global Trade Credit, Surety, and Political Risk business. Bonner will be based in London reporting to James Few, TigerRisk International's Chief Executive Officer. He will take up his appointment in June next year. Bringing over 30 years’ experience, he joins from ... Read the full article
QBE Re names GC’s Jamie Cook as Global Head of Client Management
2nd June 2021
Jamie Cook, formerly of reinsurance broker Guy Carpenter, has joined QBE Insurance as the new Global Head of Client Management, QBE Re, effective June 2021. Cook joins the reinsurer after spending three years with Guy Carpenter, most recently as Managing Director, Global Account Segment and Regional Sales Leader, EMEA. Previously, he spent ... Read the full article
US insurers braced for ‘above average’ hurricane season, reports Fitch
2nd June 2021
US property and casualty re/insurers are reportedly braced for large potential catastrophe losses as another above-average hurricane season approaches, according to a new Fitch Ratings report. Fitch notes how both P/C insurers and global reinsurers are largely well capitalised following the global pandemic last year, and generally well positioned to withstand ... Read the full article
Aon/WTW deal entering critical stage as US DOJ refuses to show its hand: reports
2nd June 2021
Reports emerging from specialist publisher The Capitol Forum describe The US Department of Justice (DOJ) as having adopted a dual-track strategy for its review of Aon's proposed acquisition of rival broker Willis Towers Watson. By simultaneously engaging in settlement talks and ensuring trial preparations are underway should it decide to mount ... Read the full article
Guy Carpenter names Brit’s David Arthur as Head Actuary, UK Non-Specialty
2nd June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the hiring of David Arthur as Head Actuary for its UK Non-Specialty business, including Global Casualty, Accident & Health, UK Property and UK Motor. Effective October 2021, Arthur takes on responsibility for the oversight of all actuarial activities undertaken within ... Read the full article
RGA to reinsure $1.8bn of statutory reserves from Dai-ichi Life
2nd June 2021
Life and health reinsurer, Reinsurance Group of America, has reached an agreement with The Dai-ichi Life Insurance Company to reinsure 200 billion JPY ($1.8 billion) of statutory reserves through coinsurance. The transaction took place at the end of March with additional terms of the transaction not currently being disclosed. Larry Carson, Executive ... Read the full article
Howden launches ESG-focused insurer, Parhelion
2nd June 2021
Global insurance broker Howden has announced the launch of Parhelion, a highly rated environmental, social and governance (ESG) focused, fully sustainable insurance carrier which aims to commence underwriting from January 1st, 2022. The new insurer is targeting a capital raise of USD 500 million and is being advised by Howden Capital ... Read the full article
Tryg and Intact complete RSA acquisition
2nd June 2021
Intact Financial Corporation and Scandinavian insurer Tryg have completed the acquisition of RSA Insurance Group. Tryg and Intact will now be able to initiate the separation of the RSA business, providing Tryg with sole legal ownership of Trygg-Hansa in Sweden and Codan in Norway whilst Intact continues to co-own Codan's Danish ... Read the full article
Tencent-controlled FuSure’s initial focus to be health reinsurance
2nd June 2021
Start-up reinsurer FuSure Reinsurance Company Limited, a joint venture controlled by Chinese technology conglomerate, Tencent Holdings Ltd., will have an initial focus on health reinsurance business in Greater China. It was announced yesterday that Tencent-backed FuSure had received a license to provide reinsurance services in Hong Kong. The new reinsurer is ... Read the full article
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