Reinsurance News
WTW, Applied Systems target real-time pricing enhancements
13th September 2021
Global reinsurance broker Willis Towers Watson is working with Applied Systems on a programme aiming to assist insurers and MGAs in developing their rates, underwriting rules and adjustments, and then deploying them directly to the market in real time. As part of the arrangement, Applied has expanded its Rating Hub functionality ... Read the full article
Reinsurance environment “most attractive in a decade”: SCOR’s Launay
10th September 2021
The reinsurance market environment is “probably the most attractive market in a decade,” according to Romain Launay, Deputy Chief Executive Officer (CEO) of SCOR Global P&C. During SCOR’s 2021 Investor Day, Launay discussed the impact of several market conditions on reinsurance rate momentum, against the backdrop of the COVID-19 pandemic. With the ... Read the full article
AXIS insurance makes three appointments
10th September 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings, has made three appointments within its US Renewables team. Becky Nace-Grover joins AXIS as a Senior Underwriter, Kamran Hameed joins as a Cross-Class Underwriter, and German Torres joins as an Underwriter. Their responsibilities will include strengthening new and existing broker and ... Read the full article
Humility is key as EMC Re targets new markets: Mondale Smith
10th September 2021
Mondale Smith, President and COO at EMC Re, has maintained that “humility and agility” will be key for the company to manage attrition and volatility as it looks to grow further and expand into new markets. EMC Re’s current portfolio is mainly comprised of US-based clients with just under a fifth ... Read the full article
NMI promotes Pollitzer to president and CEO
10th September 2021
Mortgage insurance specialist NMI Holdings has appointed Adam Pollitzer, current Executive Vice President and Chief Financial Officer, to President and Chief Executive Officer (CEO). Pollitzer will also join the company’s Board of Directors upon assuming his new role. He succeeds Claudia Merkle, who will step down as CEO and as a ... Read the full article
Vouch locks in $90mn of new funding, announces WeWork partnership
10th September 2021
Startup insurance platform Vouch has secured $90 million of new funding and revealed their role as the preferred business insurance provider to Brex, Carta, and WeWork customers. The firm has also established its own authorised insurance carrier and expanded its line of products. After two rounds of financing Vouch has secured a ... Read the full article
Reinsurance demand in LatAm to increase despite lower cat losses: Fitch
10th September 2021
The demand for reinsurance in Latin America (LatAm) is expected to increase during the second half of this year due to heightened uncertainty linked to COVID-19, according to a report by Fitch Ratings. The expected increase is also due to numerous high-impact weather events and primary insurers’ stronger ability to purchase ... Read the full article
Aon combines facultative reinsurance broking teams in Asia Pacific
10th September 2021
Aon's facultative reinsurance broking team in Singapore and its Reinsurance Solutions’ APAC facultative team have combined into one unit. The team will serve Aon’s clients in the Asia Pacific region. The newly combined team is part of Aon’s Reinsurance Solutions. Geoff Lambrou has become CEO, Facultative – Asia Pacific, to lead the newly ... Read the full article
2021 fast becoming the year of ESG: Guy Carpenter execs
10th September 2021
During a recent briefing hosted by Guy Carpenter, industry executives claimed that environmental, social and governance (ESG) issues have become more important than ever for reinsurers this year. Jessica Turner, Managing Director for Catastrophe Advisory at Guy Carpenter, highlighted the growing significance of ESG risks during a discussion that focused on ... Read the full article
Rising Edge hires Owen Dacey as Head of Claims
10th September 2021
Rising Edge, a London-based directors’ and officers’ (D&O) Managing General Agent (MGA), has appointed Owen Dacey as Head of Claims. Dacey brings over 10 years of experience managing high value complex D&O claims across the globe and will work as part of the senior management of Rising Edge with responsibility for ... Read the full article
WTW outlines Investor Day strategy
10th September 2021
Re/insurance broker Willis Towers Watson (WTW) has outlined its strategy to drive long-term growth and value creation for shareholders at its Investor Day. The broker plans to focus on core opportunities with the highest growth and return, including gaining market share in Risk and Broking and Individual Marketplace, along with innovating ... Read the full article
Rokstone promotes Ian Anson to Managing Director
10th September 2021
Rokstone, the international speciality re/insurance MGA part of Aventum Group, has announced the appointment of Ian Anson to Managing Director. Anson joined the group last year as a Portfolio Manager, before which he spent six years at Alesco Risk Management Services. At Alesco, he was initially a placing broker for four years ... Read the full article
Hurricane Ida drives full retention loss for United (UPC)
10th September 2021
Florida headquartered insurer, United Insurance Holdings (UPC Insurance), has announced estimated third-quarter 2021 catastrophe losses of $27 million pre-tax ($21mn after-tax), net of expected reinsurance recoveries. Included in the firm's estimated current year cat losses incurred in the quarter are losses from tropical storm Elsa, Hurricane Ida, and some other PCS ... Read the full article
Future insurance technology to be in the cloud: Sollers
10th September 2021
Cloud computing will become a common technology in the insurance industry over the next decade, according to a survey by Sollers Consulting. Robotic Process Automation (RPA) is seen as more important in the market than Artificial Intelligence and Machine Learning, while Telematics and the Internet of Things are weighted comparatively low. The ... Read the full article
New Dawn Risk names Angus Simpson as a non-executive director
10th September 2021
International specialty insurance broker New Dawn Risk has appointed Angus Simpson as a non-executive director. Simpson brings over 35 years of experience within the insurance industry. He has set up two businesses, an insurance broker and a Managing General Agency underwriting specialist personal lines business. Earlier in his career, he was a ... Read the full article
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