Reinsurance News
AXA XL backs NIP Group’s Commercial Excess Liability Coverage program
30th September 2021
AXA XL Insurance and NIP Group, an insurance program administrator, have partnered to launch a new monoline Commercial Excess Liability Coverage program, which the group will now provide brokers and insureds additional coverage through. The primary focus of the program will be on landscapers, arborists, greenhouse growers, paving and excavation contractors, ... Read the full article
Storebrand adopts Munich Re’s ALLFINANZ NOVA
30th September 2021
Munich Re Automation Solutions’s platform ALLFINANZ NOVA has been selected to automate Storebrand Livsforsikring AS (Storebrand)’s life insurance underwriting process. Storebrand has also implemented the Underwriter Workbench and Insight Data Analytics services from Munich Re, analysing the questions that are fed through NOVA to identify ways to increase the straight-through-processing rate. Storebrand ... Read the full article
Everest Re announces pricing of $1bn of Senior Notes
30th September 2021
Bermuda-based reinsurer Everest Re Group, Ltd. has announced that its wholly-owned subsidiary, Everest Reinsurance Holdings, Inc., priced a registered public offering of $1 billion aggregate principal amount of 3.125% Senior Notes due 2052. Everest Reinsurance Holdings expects the offering to close on October 4th, 2021, subject to customary closing conditions. The net ... Read the full article
Pacific Life partners with WNS for end-to-end PRT administration
30th September 2021
US life insurer Pacific Life is partnering with WNS, a provider of business process management solutions, to provide end-to-end operations support for its Pension Risk-Transfer (PRT) business. WNS will focus on transforming Pacific Life’s existing onboarding and service processes, including payment processing, accounting and data cleansing. This will be achieved via optimal ... Read the full article
ACORD releases re/insurance data standards for electronic placing
30th September 2021
ACORD, the standards-setting body for the global insurance industry, has expanded its Global Reinsurance & Large Commercial (GRLC) Data Standard to include new standards for electronic placing. Re/insurers will now be able to leverage these newly developed standards to help adopt more advanced electronic placement processes, from submission to bind. The initial ... Read the full article
Amwins launches underwriting portfolio mgmt team
30th September 2021
Amwins’ Global Risks broking arm has announced the launch of its John Andrews and Tom Wallace-led underwriting portfolio management unit. The pair’s focus will be on aggregating and creating exclusive capacity across the organisation. Andrews' career has seen him serve at firms such as Dale Underwriting, Arch Insurance Europe, Pioneer and Axis. Wallace joins ... Read the full article
Corvus adds Madhu Tadikonda as President
30th September 2021
Corvus Insurance, a provider of AI-powered commercial insurance, has welcomed Madhu Tadikonda as its first President. Tadikonda brings over a decade's worth of insurance industry experience to the role. He started his career at AIG, serving as both Chief Data Scientist in Commercial Insurance and then Global Chief Underwriting Officer. More recently, Tadikonda ... Read the full article
Appetite for US flood risk still limited: AM Best
29th September 2021
A new report from AM Best has highlighted that appetite for flood risk among US insurers is still limited, despite a slow transition towards the private market playing a more prominent role in providing competitive market options for those seeking coverage. The rating agency notes that the federally operated National Flood ... Read the full article
HDI Global SE names Raymond Ong as head of claims operations, ASEAN and Middle East
29th September 2021
HDI Global SE Singapore has appointed Raymond Ong to lead its claims operations for ASEAN and the Middle East. Ong brings over twenty years of experience in resolving complex and technical claims across the Asian region joins from the Singapore Claims Team at Willis Towers Watson. Prior to this, he worked at ... Read the full article
Mammoth Life & Reinsurance enters deal with Quad M Solutions
29th September 2021
Kentucky headquartered reinsurer Mammoth Life & Reinsurance Company has entered into a new commercial agreement with NuAxess, a subsidiary of holding company Quad M Solutions, which specialises in employer organization and staffing businesses. Collectively, the companies plan to target the large and growing independent contractor and GIG worker market which subsumes ... Read the full article
Lockton names Head of Intl. Property within Wholesale P&C division
29th September 2021
Insurance broker Lockton has has appointed Andrzej Danyluk as Head of International Property within its Wholesale Property & Casualty (P&C) division, effective immediately. In his new role in London, Danyluk will be responsible for developing and growing the international property portfolio of clients in collaboration with Lockton’s international offices and partners. Danyluk ... Read the full article
Arch MI obtains $639mn of indemnity reinsurance via Bellemeade Re
29th September 2021
Arch Mortgage Insurance Company (Arch MI) has secured over $639 million of indemnity reinsurance on a pool representing approximately $28.7 billion of mortgages from Bellemeade Re 2021-3 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $508 million in bonds and $131 million in direct reinsurance, and covers ... Read the full article
David Mocklow named CFO, Chief Claims Officer of MS Amlin Distribution
29th September 2021
MS Amlin Underwriting Limited (MS AUL) has announced the appointment of David Mocklow as Chief Financial Officer & Chief Claims Officer of a newly formed, US based sister company, MS Amlin Distribution Holdings (MS ADH). Mocklow takes up the roles with immediate effect, and will reports to Johan Slabbert CEO of ... Read the full article
Howden bolsters Construction division with 19 hires across EMEA
29th September 2021
International insurance broker Howden has added 19 new senior construction specialists in London and Dubai. Led by the recently appointed Global Head of Construction Naresh Dade and Howden’s Deputy Global Head of Construction Andrew Harrison Sleap, the expanded team will focus on developing bespoke retail and specialty solutions for Howden’s construction ... Read the full article
Cover Genius raises AUD$100m in Series C funding led by Sompo Asia
29th September 2021
Cover Genius has raised AUD$100 million in a Series C funding round led by Sompo Holdings Asia (Sompo Asia) who invested AUD$68 million, with participation from G Squared and other existing investors. The latest funding round follows a good six months for the insurtech, during which it tripled its gross written ... Read the full article
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