Reinsurance News
Plug and Play adds MGA insurtech Stere.io to Winter 2021 Cohort
23rd September 2021
Digital managing general agent-focused Stere.io has been selected by Plug and Play as one of more than 150 startups to join the innovation accelerator's Winter 2021 class. Stere launched in May 2021 and has been described as permanently changing how managing general agencies, insurtechs and program administrators resolve speed-to-market, capacity sourcing, ... Read the full article
Zurich partners with BOXX insurance for cybersecurity and insurance solutions
23rd September 2021
Zurich Insurance Group has collaborated with Toronto-based Insurtech, BOXX Insurance (BOXX), which provides fully-integrated cybersecurity and insurance solutions for small-to-medium-sized businesses (SMEs), consumers and families. Technology has brought significant benefits to businesses and individuals – improving lifestyles and connecting people wherever they are in the world. However, the increased adoption of digital ... Read the full article
LMG names Wagstaff as permanent CEO
23rd September 2021
The board of the London Market Group (LMG) has appointed Caroline Wagstaff as its permanent CEO. This follows a period of six months from April to September this year, during which Caroline was seconded to the role on a temporary basis. Matthew Moore, Chairman of the LMG commented: “Caroline has done an ... Read the full article
Ariel Re adds Occam’s Carr to London office as Head of Cyber
23rd September 2021
Bermuda-based reinsurer Ariel Re has added Daniel Carr to its London office as Head of Cyber, effective October 1. Carr most recently served for Occam Underwriting as as Chief Innovation Officer and Cyber Lead. Prior to that he worked as a Cyber Security Specialist with AEGIS in London. Ariel Re says this addition ... Read the full article
Volante secures approval for new Asta-managed syndicate at Lloyd’s
23rd September 2021
Multi-class international MGA platform Volante Capital Holdings (Bermuda) has received ‘in-principle’ approval from Lloyd’s to launch Syndicate 1699 for the 2022 year of account, with initial stamp capacity of £130 million. Volante will be managed by Asta Managing Agency Ltd. The syndicate will bring business to Lloyd’s through Volante’s existing international ... Read the full article
Reinsurers main beneficiaries of EC Solvency II review: Berenberg
23rd September 2021
Analysts at Berenberg believe that reinsurers will be the main beneficiaries of new proposal to review Solvency II rules made by the European Commission (EC). The review is largely in line with the initial proposal published by the EU regulator EIOPA in December 2020, and Berenberg notes that the framework is ... Read the full article
Alleghany adds Chris Cheesman to Board of Directors
23rd September 2021
Investment holding company Alleghany Corporation has elected Chris Cheesman as a new independent director to its Board of Directors, increasing the size from eight to nine directors. Cheesman is a member of the Board of Directors of American Century Investments' suite of equity mutual funds. She is an accomplished senior executive with ... Read the full article
Aston Lark moves to acquire The Health Insurance Company
23rd September 2021
Chartered insurance broker Aston Lark has agreed terms to acquire the clients of The Health Insurance Company, a move aimed at strengthening the group’s health insurance expertise. With further acquisitions planned, this move is seen as a further step in Aston Lark's efforts to continually expand its Employee Benefits and Healthcare ... Read the full article
Swiss Re and Claim Genius partner on AI motor solution
23rd September 2021
Swiss Re has partnered with insurtech firm Claim Genius to implement an artificial intelligence (AI) powered solution for motor claims. Using real time AI damage assessment and an estimation platform, the firms hope to bring more efficiency to the motor claims process. "Swiss Re Solutions aims to deliver world leading claims management ... Read the full article
Skuld announces senior appointments within London office
23rd September 2021
Marine insurer Skuld has made senior appointments within its London office, naming Matthew Burton as senior vice-president (SVP), global business development. Burton will report to chief business development officer, Gregory Thomas. Thomas said: “Matt’s new role really seeks to emphasise our overall growth ambitions on a global level. “His work in Skuld London ... Read the full article
Insurtech firm bolttech secures $210mn in extended funding round
23rd September 2021
Insurance technology firm bolttech has secured an additional $30 million after extending its recently announced $180 million series A funding round, which was led by Activant Capital Group. The extended funding round saw the addition of two new strategic investors, Singapore-based global investor EDBI and Alma Mundi Insurtech Fund, Spain ... Read the full article
Earnings for US P&C insurers materially improved in H1: Fitch
22nd September 2021
According to a new report from Fitch Ratings, statutory earnings for U.S. property/casualty (P&C) insurers materially improved in the first half of this year, with better underwriting performance tied to higher commercial lines pricing and diminishing effects of pandemic-related losses, as well as outsized investment gains. Fitch noted that the industry ... Read the full article
Ross Bowie promoted to Orchid Chief Underwriting Officer
22nd September 2021
Independent managing general underwriter Orchid Underwriters Agency (OUA) has promoted Ross Bowie to Chief Underwriting Officer, consolidating underwriting responsibilities across the company’s personal lines segments and positioning for further growth in one of its core businesses. Steve Carlsen, CEO of Orchid Insurance, commented, “The promotion of Ross Bowie to OUA Chief ... Read the full article
Vesttoo hires Daniel Butzbaugh as VP of catastrophe markets
22nd September 2021
Vesttoo has appointed Daniel Butzbaugh as Vice President, Catastrophe (CAT) Markets. He joins Vesttoo from Stonybrook Capital where he was Vice President and Head of the Industry Loss Warranty (ILW) Desk. Butzbaugh brings over 20 years’ experience in the re/insurance-linked investment sector. Prior to Stonybrook, he worked in reinsurance, insurance-linked investment and ... Read the full article
The Hanover Q3 cat losses could reach $165m, nearly half from Ida
22nd September 2021
Property and casualty (P&C) insurance company The Hanover Insurance Group, Inc. has released a preliminary estimate of its catastrophe losses for the third quarter of 2021, which it says will be in the range of $150 million to $165 million, before tax. Estimated losses from Hurricane Ida alone are approximately $75 ... Read the full article
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