Reinsurance News
Financial vulnerability boosts insurance for young consumers: EY
16th September 2021
In a recent EY Global Insurance Consumer Survey, financial vulnerability and health-related concerns appear to have become more prevalent among young consumers in emerging market countries, which has driven an increase in purchasing insurance. The survey, which was taken by 4,200 consumers in seven countries across Africa, Asia, North America and ... Read the full article
BHSI announces two senior leadership hires
16th September 2021
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Beth Freeman as Senior Vice President, Accident & Health Underwriting, and Ken Gumbiner as Senior Vice President, Accident & Health Sales. Freeman joins BHSI with over 25 years of experience underwriting an array of A&H products and was, most recently, AVP, A&H Underwriting and ... Read the full article
Dale Partners receives ‘in-principle’ approval to establish managing agency
16th September 2021
Dale Partners Limited, the holding company of Dale Underwriting Partners (DUP), has been granted approval by Lloyd’s to form its own managing agency. The new entity, Dale Managing Agency Limited, will now submit its regulatory business plan, seeking approval from the PRA and FCA during 2022. DUP, an independent, owner-managed underwriting business, ... Read the full article
Commercial rates increase through Q2 but pace slows: WTW
16th September 2021
A new survey from Willis Towers Watson (WTW) shows that US commercial insurance prices grew again through the second quarter of 2021, although at a slower pace than in previous quarters. The broker’s Q2 Commercial Lines Insurance Pricing Survey (CLIPS) found that the aggregate commercial price change reported by carriers was ... Read the full article
Amwins Global Risks appoints new COO and Director of Operations
16th September 2021
Amwins Global Risks, the international arm of the global specialty insurance broker, has announced the appointment of Colm Hensman as Chief Operating Officer (COO) and Lindsey Davies as Director of Operations. Hensman joins as COO from specialist insurer Beazley, where he most recently served as the Head of ... Read the full article
Zurich puts capacity behind Howden’s KGM Underwriting
16th September 2021
Zurich UK has announced a new long-term agreement with KGM Underwriting, a specialist and niche motor insurer and part of the A-Plan / Howden Group. The partnership secures Zurich’s solus capacity, over a five-year term, for KGM’s motor portfolio. The five-year arrangement is worth over £700 million GWP and will commence in ... Read the full article
Reinsurers losing confidence in rate adequacy amid growing cat losses: Peel Hunt
15th September 2021
According to analysts at Peel Hunt, reinsurance underwriters are increasingly re-examining the adequacy of property catastrophe rates as the rising frequency and severity of catastrophe losses continues to test the accuracy of existing models. Whilst US property catastrophe rates are delivering better margins, Peel Hunt says that re/insurers are becoming “less ... Read the full article
Carbon adds Hugo Bashall as Head of Operations
15th September 2021
Specialist managing general underwriter (MGU) Carbon Underwriting Carbon has announced the appointment of Hugo Bashall as Head of Operations with immediate effect. Bashall began his insurance career at MS Amlin, performing a number of roles across operations and strategy, including establishing and running an office overseas. His most recent role was as ... Read the full article
Prudential to sell $31bn PALAC block of legacy variable annuities to Fortitude Re
15th September 2021
Prudential Financial has agreed to sell a portion of its in-force legacy variable annuity block to Fortitude Re for a total transaction value of $2.2 billion. Under the terms of the agreement, Prudential will sell one of its stand-alone legal entity subsidiaries, Prudential Annuities Life Assurance Corporation (PALAC), including PALAC’s in-force ... Read the full article
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
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
