Reinsurance News
Ascot and Tierra Underwriting to provide green credit insurance
12th May 2021
Bermuda-domiciled specialty re/insurer Ascot has partnered with Tierra Underwriting Limited (Tierra) to provide credit insurance in support of green project finance transactions. Ascot will provide up to $15m in underwriting capacity, which will be used to support transactions that have carbon abatement at their core, or otherwise provide environmental benefits to ... Read the full article
MS Amlin strengthens US reinsurance team with senior hires
12th May 2021
MS Amlin AG, the reinsurance unit of MS Amlin group, has appointed Louis De Segonzac as Chief Underwriting Officer (CUO) and Maria Amelio as a Lead Casualty Underwriter within its US business, operating out of New Jersey and Miami. Amelio will report to De Segonzac whilst De Segonzac will report to ... Read the full article
PartnerRe’s non-life combined ratio improves despite Uri losses
12th May 2021
Bermuda domiciled reinsurer PartnerRe has reported a non-life underwriting profit of $40 million and a combined ratio of 96.7% for the first quarter of 2021, despite $104 million of net losses from Winter Storm Uri. The non-life underwriting performance represents a marked improvement from the loss of $46 million and combined ... Read the full article
HSCM releases Public InsurTech Index
12th May 2021
HSCM Bermuda has released its very own HSCM Public InsurTech Index (HPIX) in order to track the price movements of a portfolio of common equity securities listed in the last 10 years by companies operating in the US insurance sector. The HPIX was created and is administered by HSCM, whilst Solactive ... Read the full article
Battleface enters partnership with Spinnaker
12th May 2021
Travel insurance provider Battleface has partnered with Spinnaker Insurance Company, a fronting carrier wholly owned by insurtech group Hippo Enterprises. The partnership will give battleface the flexibility required when designing products for B2B2C markets, with a range of modular benefits and services that are best suited for customising products to fit ... Read the full article
ICA welcomes new National Recovery and Resilience Agency
12th May 2021
The Insurance Council of Australia (ICA) has welcomed the Federal Government’s decision to dedicate $600 million for new disaster preparation and mitigation programs as part of the establishment of the new National Recovery and Resilience Agency (NRRA). The establishment of the NRRA will bring a national focus to building infrastructure, homes ... Read the full article
Data is the currency of the re/insurance world: Kirk Conrad, BMS
11th May 2021
“The power of data has only grown with the explosion of what is available and what is tracked over time,” according to Kirk Conrad, BMS’s global head of analytics, who in a recent interview with Reinsurance News, discussed the importance of data and analytics within the reinsurance industry. When asked if ... Read the full article
Heritage CEO eyeing future return to double-digit ROEs in Florida
11th May 2021
Heritage Insurance Chief Executive Kirk Lusk says his company is implementing rating and underwriting actions within the Florida market that will facilitate a to return to double-digit ROEs in the future. Speaking during a recent earnings call, Lusk identified the Florida’s litigious environment as having creating such a difficult environment to ... Read the full article
RMS announces new innovations to ExposureIQ platform
11th May 2021
Catastrophe risk modelling and solutions company RMS has announced new innovations to its Risk Intelligence platform, ExposureIQ. ExposureIQ is a cloud-based exposure management application designed to help portfolio managers gain insights into their books, scaling to millions of locations, enabling discovery of hotspots, diversification, and portfolio re-balancing. The application provides access to ... Read the full article
AIG anticipates margin expansion throughout 2021/22
11th May 2021
Mark Lyons, Chief Financial Officer (CFO) and Peter Zaffino, President and Chief Executive Officer (CEO) of American International Group (AIG) have explained that the global re/insurer anticipates a margin expansion throughout 2021 and into 2022. The margin expansion is the result of AIG’s favourable underwriting actions from favourable global market conditions, ... Read the full article
Kin Insurance raises $63.9mn in Series C funding round
11th May 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has raised $63.9 million in a Series C funding round, according to Crunchbase News. Kin last raised money with a $23 million Series B last summer, and is backed by investors which include August Capital and ... Read the full article
Carbon Underwriting hires Fergus Cooney as Data Analytics Engineer
11th May 2021
Specialist independent managing general underwriter Carbon Underwriting has appointed Fergus Cooney as Data Analytics Engineer as it expands further its data analytics capabilities. Cooney joins Carbon from Rails bank where he played an integral role in delivering large scale end-to-end data projects as well as championing the use of data in ... Read the full article
Pacific Life Re seals key $190mn funded reinsurance deal
11th May 2021
Life reinsurer Pacific Life Re has completed a funded reinsurance transaction via its newly-formed Global Funded Solutions (GFS) business line. Covering pensioner and deferred liabilities of around £190 million, the transaction was completed with a leading UK insurer. This was the life reinsurer's second asset-intensive transaction written on an annuity deal and ... Read the full article
AGCS hires Maria Grace as Global Head of Property
11th May 2021
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz, has appointed Maria Grace as Global Head of Property. She will be reporting directly to Tony Buckle AGCS’s Chief Underwriting Officer Corporate and Board Member. Grace joins from Everest Re Group, where she served as the Chief Underwriting Officer ... Read the full article
PartnerRe adds Swiss Re’s Fiona Mitchell as account exec
11th May 2021
Partner Re has announced the appointment of Fiona Mitchell as an account executive within its Global Clients and Brokers unit. Mitchell is an experienced senior reinsurance professional with 13 years of expertise in areas including client relationship management, negotiation, project management, treaty structuring and placement. She joins from global reinsurer Swiss Re, ... Read the full article
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