Reinsurance News
Chubb names Head of Cyber & Tech for Overseas General Insurance
15th September 2021
Chubb has announced the appointment of Raheila Nazir as Head of Cyber & Technology for Overseas General Insurance, the company's international general insurance business. In this role, she will lead Chubb's international Cyber & Technology practice and be responsible for overseeing underwriting, strategy, product and business development, and financial performance. Nazir was ... Read the full article
Moody’s completes RMS acquisition
15th September 2021
Moody’s Corporation has announced the completion of its acquisition of catastrophe risk modelling firm RMS, having first signalled the deal on August 5. RMS is a leading global provider of climate and natural disaster risk modeling and analytics. The acquisition is seen as a way to expand Moody’s insurance data and ... Read the full article
Reinsurers well-positioned to meet ESG challenges: AM Best
15th September 2021
The reinsurance market is “well-positioned” to meet the growing challenge of environmental, social and governance (ESG) risks, according to Carlos Wong, Senior Director at AM Best. Speaking during AM Best's virtual Reinsurance Market Briefing as part of this year's cancelled RVS event, Wong acknowledged that the reinsurance industry faces a "big ... Read the full article
The Hartford to pay $787mn in new Boy Scouts of America deal
15th September 2021
The Hartford has entered into a new agreement-in-principle in the Boy Scouts of America (BSA) bankruptcy that will see the firm pay $787 million, before tax, for claims associated with policies mostly issued in the 1970s. In exchange for The Hartford’s payment, the BSA and its local councils will fully release ... Read the full article
Price Forbes names William Wood SVP of Insurance Management unit
15th September 2021
Price Forbes & Partners (Bermuda) has appointed William Wood to lead its newly created Insurance Management unit as Senior Vice President. Wood is a 27-year veteran of the Bermuda re/insurance marketplace and joins after a stint as Director of Captives and Commercial Insurers at Artex Risk Solutions (Bermuda). Before that he was CEO of ... Read the full article
Acrisure hires Lowell Singer as CFO
15th September 2021
Insurance broker and fintech services provider Acrisure has appointed Lowell Singer as Chief Financial Officer. He joins Acrisure following 14 years with The Walt Disney Company, where he served as Senior Vice President of Investor Relations. Singer will assume responsibility for the planning, management and execution of the company’s finance activities, reporting ... Read the full article
Steel City Re launches parametric ESG insurance product
15th September 2021
Steel City Re, a provider of parametric insurance solutions for reputation risk, has announced the launch of a new environmental, social and governance (ESG) product designed to protect Boards of Directors. Shareholder and public pressure has propelled ESG issues to the forefront of companies’ minds in recent years, but Steel City ... Read the full article
BMS Australia names new claims and technical manager, financial lines
15th September 2021
Independent specialist re/insurance broker, BMS has appointed Guy Van Dugteren as national claims and technical manager, financial lines in Australia. BMS has also hired Andrew McKenzie as head of financial lines, Northern Region in Australia. McKenzie and Van Dugteren are based in Brisbane and report to Stuart Davies, head of financial lines ... Read the full article
Global insured catastrophe losses 101% above long-term average: Jefferies
15th September 2021
Global insured catastrophe losses are running 101% higher than the long-term average (2008-2020) and more than 87% above the 10-year average, as Hurricane Ida adds an estimated USD 32.2 billion to the load in August, reports Jefferies. Excluding Ida, analysis by Jefferies shows that year-to-date (Jan-Aug) losses are coming in 15% ... Read the full article
Marsh Specialty adds leaders to UK Marine & Cargo Practice
15th September 2021
Insurance broker and risk advisor Marsh has announced the appointments of Sarah Dyer as Head of Logistics and Nick Adams as Business Development Leader within Marsh Specialty’s UK Marine & Cargo Practice. Based in London, Dyer will report to Louise Nevill, CEO, UK Marine & Cargo Practice, and Adams will report ... Read the full article
Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s
15th September 2021
To better assess the impacts of climate change over time, there's a real need to integrate the work of the scientific community with the actuarial work undertaken by the re/insurance industry, according to Dr. Kirsten Mitchell-Wallace, Head of Portfolio Risk Management, Lloyd's. Executives from the specialist Lloyd's insurance and reinsurance market ... Read the full article
Envelop Risk eyes expansion following successful $130mn Series B funding
15th September 2021
Data-driven underwriting and analytics company, Envelop Risk, has announced a Series B funding round in which it secured investments of USD 130 million led by SoftBank Vision Fund 2. As part of the transaction, Neil Cunha-Gomes, Investor for SoftBank Investment Advisers, is set to join Envelop Risk’s board of directors. The company ... Read the full article
We have to come back to doing the job of the underwriter: Munich Re’s Golling
14th September 2021
The focus on underwriting and discipline of traditional reinsurance players is what drives rates, not so much alternative capital or secondary perils, according to Stefan Golling, Member of the Board of Management at Munich Re. Yesterday, Munich Re hosted its annual insurance-linked securities (ILS) Roundtable as part of the 2021 rendez-vous ... Read the full article
Markel Intl. hires Janita Leu as senior marine underwriter
14th September 2021
Markel International, a subsidiary of the Markel Corporation, has appointed Janita Leu as a senior marine underwriter focusing on Fine Art and Specie insurance. Based in Singapore, Leu will report to Markel Asia’s Director Colin Fordham and work closely with the marine team, both in Asia Pacific and across the wider ... Read the full article
AXA XL promotes Innes to Global Practice Leader, Products & Airports, Aerospace
14th September 2021
AXA XL has promoted Andrew Innes to Global Practice Leader, Products & Airports, Aerospace. Based out of London, Innes will be responsible for strategically developing AXA XL’s global portfolio of aerospace manufacturers, service providers and airports, while also driving global governance, underwriting guidelines and pricing. He brings over 20 years’ experience of ... Read the full article
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