Reinsurance News
AXIS Insurance promotes Usman Malik to Chief Pricing Actuary
3rd September 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings has promoted Usman Malik to Chief Pricing Actuary. In this role, Malik will lead pricing strategy across the global Insurance segment, centred around enabling a consistent and global approach for portfolio construction. He will work in partnership with group underwriting and ... Read the full article
WTW and LSM align capacity to support Climate Transition Pathway
3rd September 2021
Willis Towers Watson has announced that Liberty Specialty Markets has aligned capacity to support the Climate Transition Pathway (CTP) solution. The CTP is an accreditation framework that provides insurance companies and financial institutions with a consistent approach to identifying businesses with robust low carbon transition plans aligned to the Paris Agreement. This ... Read the full article
Ida Northeast floods will add double-digit billions to economic cost: Aon
3rd September 2021
Analysts at Aon believe that flood damage in the Mid-Atlantic and Northeast regions caused by the tail-end of Hurricane Ida will result in an additional double-digit billion dollar economic loss. Ida made landfall in Louisiana on Sunday as a Category 4 hurricane, battering the state with sustained wind speeds of up ... Read the full article
Genworth secures $372mn of reinsurance via Triangle Re
3rd September 2021
Private mortgage insurer Enact Holdings has announced that its subsidiary, Genworth Mortgage Insurance Corporation, has secured $372 million of fully collateralized XOL reinsurance coverage through the issuance of an insurance linked note transaction with Triangle Re 2021-3 Ltd. Triangle Re 2021-3 provides coverage on a portfolio of existing seasoned mortgage insurance ... Read the full article
Ida’s insured property hit as much as $25bn, AIR estimates
3rd September 2021
Wind and storm surge damage inflicted by Hurricane Ida to insured onshore property has been estimated by AIR Worldwide to total between $17 billion and $25 billion. Ida’s first landfall was near Port Fourchon, roughly 60 miles south of New Orleans, hitting maximum sustained winds of 150 mph. It then collided southwest ... Read the full article
Optio promotes Kirby to global head of political violence and terrorism
3rd September 2021
Specialist MGA Optio Group has promoted Chris Kirby to global head of political violence and terrorism (PVT), and his relocation to establish Optio’s PVT underwriting capabilities in the US. Kirby joined Optio early in 2020 as head of political violence and terrorism, following the acquisition of specialist political-violence and terrorism MGA ... Read the full article
Sompo Intl. names new Head of Global Distribution & Product Development for reinsurance business
3rd September 2021
Sompo International has appointed Neville Weston as Head of Global Distribution and Product Development of its reinsurance platform. He will report to Christopher Donelan, CEO of Global Reinsurance, with the responsibility for assessing, devising and implementing key client and broker distribution growth initiatives, focusing on enhancing the reinsurance business’ underwriting deal ... Read the full article
Everest Re names new President of Mt. Logan Re
3rd September 2021
Bermuda-based insurer and reinsurer Everest Re Group has appointed John Modin as President of its subsidiary Mt. Logan Re. Modin joins Mt. Logan from Citigroup where he was a Managing Director in the financial services group and Head of Insurance Solutions. He brings over 30 years of experience in the financial services, ... Read the full article
SCOR shuffles Group Executive Committee
3rd September 2021
Global reinsurer SCOR has announced a number changes to its Group Executive Committee, proposed by Laurent Rousseau, Chief Executive Officer (CEO) of SCOR and supported by the Nominations Committee of the Board of Directors and approved by the entirety of the Board. SCOR says that the changes reflect the importance of ... Read the full article
Vantage launches Healthcare and Excess Casualty products
3rd September 2021
Vantage Group Holdings has introduced new product offerings in Healthcare and Excess Casualty. This announcement comes after Vantage previously announced it started offering products within within its Financial Lines and Professional Liability insurance. Vantage was established in late 2020 and began writing reinsurance risk on January 1, 2021, through its Bermuda ... Read the full article
FM Global announces senior leadership changes
3rd September 2021
Commercial property insurer FM Global, has announced changes within its senior leadership team. Lyndon Broad has been appointed senior vice president, chief underwriting officer and will manage the company’s underwriting and reinsurance functions. He previously was operations senior vice president of FM Global’s Boston operations. He succeeds Randall Hodge who was recently ... Read the full article
Groupama reports a net income of €297mn
3rd September 2021
French insurer Groupama has reported an improved net income of €297 million, compared to €139 million for the second quarter of 2020. The group’s economic operating income was €264 million, including its life and health insurance, economic operating income was €168 million at 30 June 2021 compared with €114 million for ... Read the full article
Marsh arranges $1bn+ insurance programme for OneWeb
2nd September 2021
OneWeb, the low Earth orbit (LEO) satellite communications entity, has extended its collaboration with global brokerage Marsh with a new $1 billion+ insurance programme. This agreement was placed with a panel of leading specialist insurers through Marsh, and is for an aggregate insured value of over $1 billion. The global insurance and ... Read the full article
Innovative approaches to insurance-linked investments: Register for live webcast
2nd September 2021
Artemis, our insurance-linked securities (ILS) focused sister site, has partnered with Vesttoo to bring you another live webcast. This time, the discussion will focus on opportunities to access high frequency, low severity Life and Property & Casualty (P&C) insurance asset classes. Register online here to secure your place ... Read the full article
Flooding in New York & New Jersey could lift hurricane Ida re/insured loss: report
2nd September 2021
After battering Louisiana as a Category 4 hurricane, storm Ida has caused severe flooding in New York and New Jersey which could add to the insurance and reinsurance industry loss, although this is still expected to remain under $25 billion, say analysts at Keefe, Bruyette & Woods (KBW). After making two ... 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.
