Reinsurance News
Zurich hires Caroline Dunn as CUO, UK
2nd September 2021
Global insurance group Zurich has appointed Caroline Dunn as Chief Underwriting Officer for its UK branch to lead its underwriting strategy across all lines of business. Dunn will join the Zurich team in November, following Hayley Robinson’s recent promotion to the role of Chief Group Underwriting Officer at Zurich Insurance Group. She ... Read the full article
Canopius lines up Gavin Phillips as its next CFO
2nd September 2021
Global specialty re/insurer Canopius has appointed Gavin Phillips as its next Group Chief Financial Officer and has said he is due to begin the role in January 2022. Phillips' appointment follows current CFO Nigel Meyer's decision to step back from his role in March 2022 to concentrate on establishing a portfolio of ... Read the full article
Munich Re launches second green bond to support climate strategy
2nd September 2021
Reinsurer Munich Re has launched its second green subordinated bond after a successful issuance in 2020, designed to reinforce its capital base with a focus on emerging growth opportunities in reinsurance markets. The volume of this issue is €1 billion (USD 1.2 billion) and the bond has a coupon of 1% ... Read the full article
Enstar takes controlling stake in Enhanzed Re
2nd September 2021
Enstar has announced that one of its subsidiaries has completed the purchase of the entire 27.7% interest in Enhanzed Re previously held by an affiliate of Hillhouse Group. The purchase price of $217.1 million is based on 90% of Enhanzed Re’s total shareholders’ equity as of June 30, 2021 and is ... Read the full article
Ryan Specialty Group reports Q2 net income of $63.4 million
2nd September 2021
Ryan Specialty Group has reported its net income for the second quarter of 2021 increased by 27.1% to $63.4 million, compared to $49.9 million in the prior-year period. Total operating expenses for the second quarter of 2021 were $297.8 million, a 57.8% increase compared to the prior-year period. This was primarily due ... Read the full article
QBE Re hires SiriusPoint’s Tracey Gibbons to lead in Bermuda
2nd September 2021
QBE Re, the reinsurance arm of the global insurer, has expanded its Bermuda office with the appointment of Tracey Gibbons as Head of QBE Re, Bermuda. Gibbons joins from SiriusPoint where she was Senior Vice President, bringing over 30 years’ experience to the role and a remit to develop the Bermuda ... Read the full article
Europe’s major reinsurers grew 11% at mid-year 2021 renewals: Litmus Analysis
2nd September 2021
Europe's four major reinsurers renewed roughly €12 billion of treaty premium at the mid-year 2021 reinsurance renewals, with an average risk-adjusted price increase of 2.1%, according to research from Litmus Analysis. The €12 billon of renewed treaty premium represents growth of 11%, which is an improvement on the 5% growth recorded ... Read the full article
Hurricane Ida insured loss could reach $21 billion: CoreLogic
2nd September 2021
Analysis by catastrophe risk modeller CoreLogic estimates an overall loss from Hurricane Ida of between $27 billion and $40 billion, of which up to $21 billion could be covered by re/insurance protection. The economic loss range from CoreLogic is for losses from wind, storm surge and inland flooding damages to residential ... Read the full article
Growing need for data in London Market: Amwins
2nd September 2021
As part of a new report on the state of the London Market, analysts at Amwins have pointed to a growing requirement for greater levels of data, analytics and insight. The observation comes on the back of a challenging 18-month period for the London Market, which has faced a worldwide pandemic, ... Read the full article
MS Amlin SE names AXA’s Frédéric Fischer CFO
2nd September 2021
European primary insurer MS Amlin Insurance S.E. has announced the appointment of Frédéric Fischer as Chief Financial Officer, a role he takes up from today. Fischer joins from AXA, where he most recently held the position of CFO at its Corporate Solutions. During his 25-year career at AXA, he has held a ... Read the full article
Howden hires Paul Tubb as Executive Director for Assets team
2nd September 2021
International insurance broker Howden has appointed Paul Tubb as Executive Director and head of the newly created Infrastructure Assets team, a specialist practice within Howden’s construction division. Tubb will start his new position next year, and will report to Naresh Dade, Managing Director, Global Head of Construction. He will be responsible for ... Read the full article
Dedicated reinsurance capital estimated at $532bn: AM Best
1st September 2021
New projections from AM Best estimate that dedicated global reinsurance capacity could be at a level of around $532 billion in 2021, representing a 3% increase over the year-end 2020 figure of $517 billion. This estimate accounts for a $2 billion increase in traditional reinsurance capacity, which the rating agency puts ... Read the full article
AIG adds Ciara Brady as International Casualty CUO
1st September 2021
AIG has appointed Ciara Brady to serve as Chief Underwriting Officer for International Casualty, a role that's effective immediately and sees her succeed the now-retired Patrick Mailloux. Brady joins AIG from Allianz Global Corporate & Specialty in Zurich, where she served as Global Head of Liability since 2019. Prior to her time ... Read the full article
Motive Partners leads $100mn funding round for Insurify
1st September 2021
US virtual insurance agent and comparison platform Insurify has closed a $100 million Series B funding round led by specialist private equity firm Motive Partners. Existing investors Viola FinTech, MassMutual Ventures, Nationwide, Hearst Ventures and Moneta VC were joined by new arrivals Viola Growth and Fort Ross Ventures. Founded in 2013 by ... Read the full article
Tysers makes senior hires across broking, claims & operations
1st September 2021
Independent Lloyd’s broker Tysers has announced a series of senior hires across broking, claims and operations as part of its strategy to expand its core Marine and Aviation, North American P&C and Retail business lines. In addition, the firm is expanding its Dubai office in order to make the most of ... Read the full article
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