Reinsurance News
RiverStone makes two senior hires
19th October 2021
RiverStone International has appointed Costas Miranthis as an independent non-executive director to the group board and Neil Taylor as the group chief investment officer. Miranthis brings over 35 years of experience within the financial and insurance sectors, including 13 years at Partner Re where he was most recently president and chief ... Read the full article
Tremor targets improved trading experience with Marketplace 2.0
19th October 2021
Tremor Technologies, Inc., the online reinsurance pricing and placing platform, has announced the release of a new version of its marketplace, in addition to a revamped logo and branding. Tremor Marketplace 2.0 is designed to provide users with greater interactivity and a more intuitive user interface, boasting features such as a ... Read the full article
Munich Re announces Bernd & Ida losses of €1.8bn in Q3
19th October 2021
For Q3 2021, global reinsurance giant Munich Re has pre-announced losses of roughly €600 million from the impacts of windstorm Bernd in Europe in July, and losses of around €1.2 billion from Hurricane Ida in the U.S. The cost of Bernd, which resulted in severe flooding and flash floods in Germany ... Read the full article
Travelers reports net income of $662m; record net written premiums
19th October 2021
The Travelers Companies, Inc. has reported net income of $662 million, core income of $655 million, and record net written premiums (NWP) of more than $8.3 billion for the third quarter of 2021, despite a rise in catastrophe losses to $501 million, net of reinsurance. Although still solid, the insurer's net ... Read the full article
Crum & Forster terminates reinsurance agreement with AmerInst
19th October 2021
Property and casualty (P&C) insurer Crum & Forster has decided to discontinue a long-standing quota share reinsurance arrangement with AmerInst Insurance Group. Since September 2009, AmerInst’s Bermuda-based reinsurance business, AmerInst Insurance Company Limited (AMIC), has maintained a professional liability quota share agreement with C&F. Under the terms of the agreement, AMIC reinsured ... Read the full article
TigerRisk partners with data analytics firm Pinpoint Predictive
19th October 2021
Re/insurance risk, capital and strategic advisor TigerRisk Partners has announced a new partnership with Pinpoint Predictive, an analytics platform that uses data and deep learning algorithms to inform P&C insurance decisions. Using behavioural modelling of the adult population of the US, Pinpoint’s automated platform produces risk scores for individuals as well ... Read the full article
Investcorp forms Insurance Solutions unit
19th October 2021
Investcorp, a global provider and manager of alternative investment products, has launched Investcorp Insurance Solutions platform, a newly formed business that will focus on providing investment management services for insurers. The company has hired Todd Fonner as Chief Investment Officer, who has over 28 years of experience in the insurance and ... Read the full article
AXIS Insurance adds Senior Underwriters to Financial Institutions team in London
19th October 2021
AXIS Insurance, a division of Bermuda-based AXIS Capital Holdings Limited, has added Beth Convey, Julieta Moya, and Mark Sutton to its Financial Institutions team in London, effective immediately. The trio join the insurer as Senior Underwriters, reporting to Callum McPherson, Head of Financial Institutions in London. In their new roles, they will ... Read the full article
TMK appoints Chubb’s David Slevin to lead Aviation department
19th October 2021
Specialist international insurer Tokio Marine Kiln has appointed David Slevin to lead its Aviation department starting next spring, as sights are set on expanding the firm's presence in the sector. The newly created role will see Slevin push for profitable growth and development of TMK’s Aviation portfolio. He brings more than 36 ... Read the full article
Atrium hires Toby Russell as Casualty Treaty Underwriter
19th October 2021
Atrium Underwriting (Atrium), the managing agent for Lloyd’s Syndicate 609 has appointed Toby Russell as Casualty Treaty Underwriter reporting to Andrew Winyard, Head of Casualty Treaty. He joins Atrium from Aon Re, where he worked the past 8 years as a broker within the North American Casualty Treaty team. Winyard commented: “Toby ... Read the full article
Charles Taylor adds Derik Chen as Regional Director for China
19th October 2021
Charles Taylor Adjusting has appointed Derik Chen as Greater China Regional Director, where he will have oversight of the company’s growth in China and Taiwan. Chen will also lead the establishment of the firm’s property and casualty adjusting business in Taiwan. Currently based in Shanghai, Derik has over 25 years of experience ... Read the full article
2021 was “no outlier” for European cat losses: Swiss Re’s Reichelt
18th October 2021
With climate concerns growing across the re/insurance market, Swiss Re’s Frank Reichelt warns that secondary peril losses will inevitably grow, meaning a year like 2021 in Europe is “no outlier on a global scale.” With the January 2022 renewals coming up, reinsurance buyers are reflecting on what has been another active ... Read the full article
The Carrick Group secures $40mn credit from Bank of Montreal
18th October 2021
International non-life legacy business The Carrick Group has confirmed a $40 million credit agreement between its Bermuda-based subsidiary and the Bank of Montreal. The credit will be used to pursue and execute legacy transactions. Karl Wall, Chief Executive Officer of Carrick Group said this credit agreement provides access to additional funding that will ... Read the full article
Taussig Capital acquires Spencer Re
18th October 2021
Taussig Capital, an advisory firm with a focus on asset managers, family offices, insurers, reinsurers, and banks, has acquired all of the voting shares of Spencer Re I.I., which will be rebranding as Taussig Capital Re. Founded in 2006 and licensed in Puerto Rico, Spencer Re I.I. is a global insurance ... Read the full article
Guy Carpenter launches Wildfire Risk Score
18th October 2021
Guy Carpenter & Company has launched a Wildfire Risk Score designed to help clients manage their exposure to the evolving risk of wildfire across Europe. The solution builds on the approach successfully deployed in the U.S. and adds an additional peril geography to Guy Carpenter’s climate advisory offerings. Through the new platform, ... Read the full article
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