Reinsurance News
Marsh McLennan names two new General Counsels
18th May 2021
Marsh McLennan, a professional services firm in the areas of risk, has appointed Katherine Brennan as General Counsel of Marsh LLC and Connor Kuratek as Deputy General Counsel and Corporate Secretary of Marsh McLennan. Brennan will report to John Doyle, President and CEO, Marsh, and Peter Beshar, Executive Vice President and ... Read the full article
CIAM voices concerns over SCOR’s CEO transition
18th May 2021
Activist investor CIAM has raised several concerns about the succession plan and transition period at SCOR, which announced yesterday that CEO Denis Kessler will hand leadership of the reinsurer over to Laurent Rousseau after June this year. Rousseau is currently Deputy CEO of SCOR Global P&C, Chairman of SCOR Europe ... Read the full article
Acrisure Re launches international fac unit, led by Matthew Harvey
18th May 2021
Acrisure Re, the reinsurance division of global brokerage Acrisure, has announced the launch of an international facultative unit, to be led by Matthew Harvey as Senior Vice President. Harvey, who will be based in London, joined Acrisure Re on May 10th and will report to Acrisure Re Group Chief Executive Officer ... Read the full article
Helios details improved syndicate forecasts
18th May 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has announced the current mid-point forecasts for its portfolio of syndicate capacity for the 2019 and 2020 years of account, based on 1st quarter 2021 estimates. The company, which acquires and consolidates private underwriting capacity at Lloyd’s, recorded a capacity position ... Read the full article
Phoenix in advanced talks to sell European businesses, reports
18th May 2021
Leading life consolidator Phoenix Group is reported to be nearing the sale of its £550 million-rated European businesses to an unconfirmed buyer. Sky News says the deal is currently being finalised and that it could be announced as early as next week. Phoenix, whose market capitalisation stands at roughly £7.35 billion, is ... Read the full article
Liberty Specialty hires Christoph Paeßens as PI Manager for Germany
18th May 2021
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has named Christoph Paeßens, formerly of AXA XL Germany, as Professional Indemnity (PI) Underwriting Manager for Germany, effective immediately. In his new role, Paeßens will be based in Cologne, Germany, reporting to Interim Country Manager Angelika Gasser, and Head of PI for ... Read the full article
Aviation insurers seeks further rate increases after difficult year: McGill & Partners
18th May 2021
Analysts at specialist insurance broker McGill & Partners have examined the state of the aviation insurance market in 2021, noting that most firms will be seeking further rate increases to offset the difficulties of the past year. With more planes grounded than in the skies, 2020 was an unprecedented challenge for ... Read the full article
HX targets further growth with Asia launch
18th May 2021
HX, the data and analytics division of Howden Group, has launched in Asia to bring its capabilities directly to clients and carriers in the Asian market. HX Asia will be based at the Group's regional headquarters in Singapore, enabling it to deploy its data, analytics and technology capabilities directly to the ... Read the full article
Generali’s Q1 2021 operating result improves to €1.6bn
18th May 2021
Generali has reported a year-on-year improvement in its operating result to €1.6 billion for the first quarter of 2021, driven by a strong performance in the Property and Casualty (P&C), Asset Management, and other business segments during the period. The global insurer's consolidated operating result increased by 11% from the prior ... Read the full article
IDF program looks to develop parametric solutions in Colombia
18th May 2021
Public-private partnership the Insurance Development Forum (IDF) has launched a program aimed at developing a parametric flood and earthquake product, as well as an indemnity landslide protection, in Colombian city of Medellín. The project includes participation from IDF members Hannover Re and Willis Towers Watson and t is part of the ... Read the full article
Mosaic hires Finn McGuirk as SVP, Head of Political Risk
18th May 2021
Specialty insurer Mosaic has appointed Finn McGuirk as Senior Vice President, Head of Political Risk. An experienced Lloyd’s of London specialty underwriter, McGuirk will be responsible for building the class of business, one of seven lines the new insurer will underwrite globally through its Lloyd’s Syndicate 1609. He holds just under 25 ... Read the full article
Resolution & Ashbrooke acquire Sportscover European operations
18th May 2021
Resolution Underwriting Holdings and Ashbrooke Group have completed their acquisition of Sportscover Europe and Active Underwriting Specialists, the European operations of Sportscover Australia Group. The purchase of the two MGAs will add significant capability and expertise to both the Resolution and Ashbrooke groups, with Resolution putting provisions in place for the ... Read the full article
Laurent Rousseau to succeed Denis Kessler as CEO of SCOR
17th May 2021
Global reinsurance firm SCOR will have a new Chief Executive Officer after June this year, as the Board approved Laurent Rousseau, Deputy Chief Executive Officer of SCOR Global P&C, Chairman of SCOR Europe and member of the Group Executive Committee to succeed him. The announcement of Denis Kessler's successor was expected ... Read the full article
P&C Covid claims lower than expected in Q1, says RBC Capital Markets
17th May 2021
RBC Capital Markets analysts have said COVID-19 related P&C claims in the first quarter generally came in below expectations, with some companies even suggesting that guidance provided only a few months ago could be overly cautious. COVID-19 P&C claims are reported to be running well below the FY20 levels, with the ... Read the full article
As Lloyd’s re-opens re/insurers have work to do: London FOIL President
17th May 2021
With lockdown restrictions further relaxed around the UK today, the specialist Lloyd's of London insurance and reinsurance marketplace has reopened its underwriting room. Initially, the world's oldest insurance market has only reopened its famous underwriting room for those who need to be in, with plans to further relax restrictions at 1 ... Read the full article
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