Reinsurance News
Mazars adds James Isherwood as Insurance Partner
15th March 2021
International tax, audit and advisory firm Mazars has appointed James Isherwood as Partner in the insurance actuarial team, based in London. Isherwood joins from Boston Consulting Group and will focus on further growing Mazars’ presence in the insurance sector. In addition to providing expertise in the ... Read the full article
Generali partners with YAS on HK passenger microinsurance product
15th March 2021
Italian insurer Generali is partnering with YAS Digital on Hong Kong’s first passenger microinsurance solution. Scope of coverage is extensive, and includes public transportation ranging from buses, mini-buses, trams, cable cars, MTR, and cross-harbour ferriess. RYDE with YAS has been launched to service Hong Kong's high ... Read the full article
Ryan Specialty announces new leadership for Ryan Re
15th March 2021
Ryan Specialty Group has announced the new formalised leadership structure for its subsidiary Ryan Re Underwriting Managers. Ryan Re was founded in 2019 to specialise in North American Property and Casualty treaty reinsurance and underwrites on behalf of Nationwide. Effective immediately, the executive leadership team for Ryan Re will include Brian Boornazian ... Read the full article
Uri could signal above-average cat loss year: Barclays
15th March 2021
Analysts at Barclays believe that the unprecedented level of losses caused by February’s Winter Storm Uri in the US could be “setting the stage” for another above-average catastrophe year for re/insurers. Current industry loss estimates put the cost of Uri in the $15 billion to $18 billion range, which Barclays notes ... Read the full article
Milliman acquires McHugh Consulting Resources
15th March 2021
Consulting and actuarial firm Milliman has acquired McHugh Consulting Resources, a provider of outsourced insurance compliance and regulatory services. The acquisition will further bolster Milliman's position as a life and health insurance compliance service provider. Milliman's compliance experts work with insurers to draft and develop contracts, complete rate filings, ensure compliance in ... Read the full article
MAPFRE forecasts 3% premium growth for 2021
15th March 2021
Spanish re/insurer MAPFRE is forecasting premium growth of 3% over 2020, as well as net earnings of more than €700 million. It is also targeting a combined ratio of 95% for the year, and a return on equity of around 8.5%. For 2020, MAPFRE recorded an operating result of €658 million with ... Read the full article
Miller adds Aon’s Charlie Simpson to lead new Bermuda platform
15th March 2021
Specialist re/insurance broker Miller has added Charlie Simpson to lead its new broking platform in Bermuda. Simpson will look to grow Miller’s presence in the region by launching an independent offering initially focused on reinsurance and insurance-linked securities, with more key hires to be announced soon. He has over 40 years’ experience ... Read the full article
AEGIS London promotes Simon Cooper to Head of Underwriting Insight
15th March 2021
Lloyd’s managing agency AEGIS London has promoted Simon Cooper, previously Head of Specialty, to the newly created role of Head of Underwriting Insight. Cooper will be succeeded by Ben Lockwood who was previously the specialty team’s Deputy Head. The role of Head of Underwriting Insight has been created to reflect the growing ... Read the full article
Blink partners with Terrawind to expand parametric flight disruption platform
15th March 2021
Blink Parametric, an Irish InsurTech firm, has opted to expand its flight disruption insurance platform in Central & Latin America via a new partnership with one of the leading travel assistance providers across the regions, Terrawind Global Protection. The new collaboration will deliver a bespoke flight disruption travel solution to clients, ... Read the full article
Arch hires O’Gorman to launch Transport & Logistics insurance division
15th March 2021
Arch Insurance International, part of Arch Capital Group Ltd., has hired Argo Group's Steve O'Gorman to lead its newly launched transport and logistics insurance unit, effective immediately. The insurer's new division provides a range of specialist marine and P&C insurance solutions for the logistics and cargo segments, on a global basis. Additionally, ... Read the full article
Motor insurance claims in 2020 fell by 19%: ABI
15th March 2021
A report by the Association of British Insurers (ABI) has shown that the number of motor insurance claims settled by insurers in 2020 fell by 19% due to COVID-19. Although this fall was predicted, it reflects the effects of lockdown restrictions throughout the year which led to significantly fewer vehicle journeys. As ... Read the full article
Talanx falls to underwriting loss on €2.1bn of large losses
15th March 2021
Talanx, the parent of major European reinsurance company Hannover Re, has reported an underwriting loss of €2.8 billion for 2020 amid total large losses of a significant €2.1 billion, driven mostly by the coronavirus pandemic. The company's underwriting performance deteriorated further from the €1.8 billion loss reported in 2019, as the ... Read the full article
QOMPLX to acquire Sentar Inc.
15th March 2021
Risk analytics provider QOMPLX has entered into an agreement to acquire cyber-intelligence company, Sentar Inc. Sentar will continue to be led by President Darren Kraabel alongside other key management. Bridget McCaleb will continue in a formal capacity leading integration efforts for Sentar during the transition. Sentar and QOMPLX have already begun to ... Read the full article
Brokers to include more diversity: SIB
15th March 2021
A new report from the Society of Insurance Broking (SIB) has identified four areas of reputational risk. It included a breakdown of diversity and inclusion within the sector, along with qualification requirements, recommending unrated insurers and commission-based renumeration. SIB's report has explored the idea that improving the diversity of the broking ... Read the full article
There’s more to do but demand for cyber reinsurance is growing: Chatterjee, Envelop Risk
12th March 2021
In a recent interview with Reinsurance News, Ari Chatterjee from Envelop Risk discussed how the cyber re/insurance market has changed in recent years and why demand for protection is projected to rise. “The development of the cyber reinsurance market actually sped up quite a lot in the recent past and one ... Read the full article
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