Reinsurance News
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
Global Indemnity names Reiner Mauer as COO of its insurance operations
17th May 2021
Global Indemnity Group, LLC has named Reiner R. Mauer, formerly of United States Liability Insurance Company, as the Chief Operations Officer (COO) of its insurance businesses and the company’s Principal Operating Officer. Mauer brings 29 years' experience in the property and casualty (P&C) insurance industry to his new role, with a ... Read the full article
Transverse and Lumen launch Commercial Property Insurance Program
17th May 2021
Lumen Risk Services, has launched its Commercial Property Insurance Program in partnership with P&C program carrier, Transverse Insurance Group. The non-admitted program will initially offer monoline property coverage for multi-family, hospitality, and light commercial property accounts, along with future plans to expand into other lines of coverage. Alongside this launch, Lumen has ... Read the full article
Eric Matheny joins reinsurance broker BMS Re as CFO
17th May 2021
Eric Matheny, formerly of Allianz Global Corporate and Speciality (AGCS), has been appointed as the new Chief Financial Officer (CFO) of broker BMS Group's reinsurance arm, BMS Re, effective immediately. Matheny takes over from current US CFO, Steve Korducki, who will transition to a more active role in client facing activities, ... Read the full article
Insurers increase Louisiana hurricanes cost estimates by 25%: Donelon, LDI
17th May 2021
Insurers have increased their estimates of the cost of the three hurricanes that struck Louisiana by 25 percent since the end of last year, according to Louisiana Insurance Commissioner Jim Donelon. Policyholders have now filed 311,266 claims of all types from the three storms through the first quarter of this year. Of ... Read the full article
Fidelis adds Samantha Message to Energy & Construction team
17th May 2021
Specialty re/insurer Fidelis has announced the appointment of Samantha Message to its underwriting team in London. Upon taking up her new role, Message will be underwriting Energy and Construction business at Fidelis. She brings more than 10 years of re/insurance industry and related experience in underwriting and client facing roles, focusing on ... Read the full article
Benign April helps offset heavy YTD cat losses: Jefferies
17th May 2021
Analysts at Jefferies have characterised April as a largely "benign" month in terms of global insured catastrophe losses, which should help to ease the pressure on what has been a remarkably active year for catastrophes to date, with claims running at about 30% above the long-term average over the first ... Read the full article
Berkshire (BHSI) names Nikki Nagra as Head of Casualty Claims, UK
17th May 2021
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has announced the appointment of Nikki Nagra as Head of Casualty Claims in the UK. Nagra comes to BHSI with more than two decades of claims management experience, and has spent the previous 16 years ... Read the full article
Aon to sell retirement & investment business in Germany as part of EC remedy package
17th May 2021
Aon has agreed to sell its pensions consulting, pension insurance broking, pensions administration and investment consulting business in Germany to Lane Clark & Peacock LLP (LCP), as the global re/insurance broker moves closer to completing its proposed combination with rival Willis Towers Watson (WTW). This latest divestment comes as the brokerage seeks ... Read the full article
Lockton hires two MDs for Pacific region
17th May 2021
Lockton Insurance Brokers has appointed Harpreet Ubhi and Reid Eanes as Managing Directors to lead the Lockton Financial Services Practice (LFS). Ubhi and Eanes collectively bring over 30 years of industry experience, specialising in directors & officers liability, employment practices liability, corporate governance risk management, private equity and corporate acquisitions across ... Read the full article
Oxbridge Re posts improved Q1 net income
17th May 2021
Cayman Islands based Oxbridge Re generated a first quarter net income of $28,000, up from the $364,000 loss announced in the prior year quarter. The company attributes this improvement to a positive change in the fair value of equity securities compared to the depressed financial markets a year ago. However, the combined ... Read the full article
SRG hires Eastham as Managing Partner and Head of M&A team
17th May 2021
Insurance brokerage Specialist Risk Group (SRG) has appointed Nikki Eastham as Managing Partner and Head of its M&A team. Eastham joins after a 12-year career at PWC, where she was most recently a Director of the M&A team. She has a range of experience within strategic advisory, deal origination, target engagement, diligence, ... Read the full article
Guy Carpenter names Tres as lead of Strategic Risk & Capital Life Solutions, EMEA
17th May 2021
Guy Carpenter, the reinsurance arm of global brokerage Marsh McLennan, has hired Luca Tres as Head of Strategic Risk and Capital Life Solutions, EMEA, effective June 1st, 2021. In his new role, Tres takes on responsibility for driving continued growth in both the development and delivery of non-traditional life solutions to ... Read the full article
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