Reinsurance News
Apollo hires head of terrorism and political violence
27th September 2021
Independent specialist re/insurer Apollo Syndicate Management has appointed Andrew Page to lead and develop its terrorism and political violence team. He reports to Chris King, head of crisis management. Page brings over 15 years' experience and joins from Beazley, where he spent a decade underwriting terrorism and political violence in both London and Singapore. He ... Read the full article
Africa Re “optimistic” after improved H1 performance
27th September 2021
Africa Re CEO Corneille Karekezi has said he is “cautiously optimistic” about the company’s prospects for 2021, following an H1 period that yielded improved underwriting and investment performance, as well as higher profits. Africa Re recorded a gross premium income of US $421 million in the first six months of 2021 ... Read the full article
Alliant names Taylor Hargrave VP
27th September 2021
US insurance broker Alliant has added Taylor Hargrave as Vice President, based in Dallas. Hargrave will design and implement property and casualty insurance programs for Alliant’s regional client base and joins with a comprehensive background in property and casualty insurance, including executive and professional liability, risk management, claims management, and loss ... Read the full article
R&Q names Andrew Pinkes as CEO of Legacy Insurance business
27th September 2021
Randall & Quilter Investment Holdings has appointed Andrew Pinkes as Global CEO of its Legacy Insurance business. The appointment follows the recent announcement of Gibson Re, a Bermuda-domiciled sidecar with $300 million of capital which will allow R&Q to support $2 billion of legacy insurance reserves. Pinkes will report into William Spiegel, ... Read the full article
European insurers to increase ESG investments on Solvency II reform
27th September 2021
The European insurance sector’s growing interest in assets with environmental, social and governance (ESG) characteristics is likely to get a further boost from the European Commission’s proposal to lower Solvency II (S2) capital charges for longer-term business, Fitch Ratings says. Fitch's report showed that insurers are well-placed to invest in longer-term ... Read the full article
Helios secures further capital raise with latest LLV purchases
27th September 2021
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has acquired three limited liability vehicles (LLVs) for an aggregate cash consideration of roughly £1.95 million, generating syndicate capacity of £2.39 million. The acquired LLVs, named Nameco (No 2011 & No 2012 and G.T.C. Underwriting, follows Helios' purchase of North Breache Underwriting, a ... Read the full article
Apollo adds RMS’ ExposureIQ app into exposure management workflow
27th September 2021
Independent specialist re/insurer Apollo has announced the integration of RMS’ ExposureIQ application into its exposure management workflow, citing its outstanding internal exposure management processes and underwriting capabilities as a key factor. ExposureIQ is an cloud-based exposure management application running on the RMS open cloud platform, RMS Risk Intelligence. It enables faster and more ... Read the full article
Farmers Insurance to use mobile robot for catastrophe claims
27th September 2021
Farmers Insurance plans to use a digitally controlled mobile robot to assist with in-field catastrophe claims handling and non-catastrophe property inspections, in an effort to improve safety and efficiency. Created by Boston Dynamics and customized for Farmers, a robotic quadruped will join claims personnel beginning as early as fall 2021 to ... Read the full article
SiriusPoint names Justin Brenden as Chief Actuary
24th September 2021
Specialty re/insurer SiriusPoint has appointed Justin Brenden to the role of Chief Actuary. In his new role, Brenden will lead SiriusPoint’s actuarial organisation, with responsibility for global reserving and aligning pricing to drive to the Company’s objective of improving underwriting profitability. He will be based in Bermuda and report to SiriusPoint Chief ... Read the full article
Munich Re’s HSB launches cyber coverage in Canada
24th September 2021
HSB Canada, part of Munich Re, has introduced a new collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. HSB Cyber Suite is a cyber reinsurance solution for property-casualty insurers, including underwriting, marketing support, 24/7 claim service, and ... Read the full article
Over-reserving sees PERILS drop Australia flood loss estimate to AU$751mn
24th September 2021
Catastrophe insurance data provider PERILS has cited over-reserving as the sole driver behind its significantly lower industry loss estimate from the New South Wales and Queensland flooding in March; what six weeks ago was AU$1.055 billion now stands at $751 million. Between March 18 and 24 the East Coast of Australia ... Read the full article
AJ Gallagher acquires Federal Crop Insurance specialist Files Agribusiness
24th September 2021
Global insurance broker Arthur J. Gallagher & Co. has announced the acquisition of Bastrop, LA-based Files Agribusiness, LLC. Founded in 2010, Files Agribusiness is a retail insurance agency that specializes in offering Federal Crop Insurance, agribusiness property and casualty, and agricultural aviation coverages. It serves clients primarily in the states of Louisiana, ... Read the full article
RAA elects RenRe’s O’Keefe as board’s Secretary-Treasurer
24th September 2021
The Reinsurance Association of America's board of directors has elected Justin O’Keefe, Senior Vice President and Chief Underwriting Officer for the global property segment at RenaissanceRe, as Secretary-Treasurer. He is responsible for the company’s property underwriting strategy, activities and teams across its global platforms, having joined in 2004 before holding a ... Read the full article
Beazley names AXIS Capital’s Bob Quane CUO
24th September 2021
Specialist insurer Beazley has appointed Bob Quane to serve as its Chief Underwriting Officer (CUO), a role he brings 30 years' industry experience to. Quane joins from AXIS Capital, having served as CUO within its insurance segment. Based in New York, he starts October 11 and is also set to join Beazley’s Executive ... Read the full article
BILTIR board member Natasha Scotland Courcy appointed new Vice-Chair
24th September 2021
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has announced the transition of Board member Natasha Scotland Courcy to serve as its new Vice-Chair, as well as the arrival of Andrew Sooboodoo. The appointments were confirmed at BILTIR’s annual 2021 Bermuda International Life and Annuity Conference. Scotland Courcy, who is Senior Vice-President, ... Read the full article
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