Reinsurance News
Applied Underwriters’ Centauri Insurance acquires Gulfstream renewals
23rd February 2021
Centauri Insurance, a subsidiary of risk services firm Applied Underwriters, has acquired the renewal rights to 16,700 policies from Gulfstream Property and Casualty Insurance Company and Gulfstream Select Insurance Company. Gulfstream is a Florida-based insurance company that provides homeowners' insurance. The polices acquired by Centauri relate to business in Alabama, Read the full article
THB to retain brand name amid LatAm expansion
23rd February 2021
Specialist re/insurance broker THB has announced that it will retain its brand name in Latin American (LatAm) regions following the renaming of its UK expansion operation to Amwins Global Risks. As part of its expansion, THB LatAm is planning to grow on a regional basis and to facilitate this approach the ... Read the full article
Phoenix, Standard Life Aberdeen simplify strategic partnership
23rd February 2021
Phoenix Group and Standard Life Aberdeen (SLA) have entered into a new binding agreement designed to simplify their existing strategic partnership and enable Phoenix to control its own distribution, marketing and brands. At the same time SLA became a leading shareholder in Phoenix and today has a strategic shareholding of around ... Read the full article
Carbon bolsters underwriting team with three hires
23rd February 2021
Specialist managing general underwriter Carbon has expanded its underwriting team with three new appointments, including Helen Wheal, who was formerly employed at Syndicate DTW1991. Wheal served for seven years’ within Syndicate DTW199’s UK and International underwriting team and she has joined the Carbon team as an underwriter. Theo Cannon arrives as an ... Read the full article
AXIS Insurance adds Jennifer Miller to Environmental Liability team
23rd February 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has hired Jennifer Miller as a Senior Underwriter in its Environmental Liability team. Effective immediately, Miller will be responsible for writing new business and broadening relationships with distribution partners, with a focus on the US South and Central regions. She ... Read the full article
MS Amlin hires Fergus Draper as Senior Yacht Underwriter
23rd February 2021
Lloyd's re/insurer MS Amlin has appointed Fergus Draper as Senior Yacht Underwriter. Draper began his insurance career as an Assistant Underwriter for British Marine. He then moved to Skuld in 2012 where he was Head of Yacht P&I in 2017. Prior to this position he worked as Senior executive. In his new role ... Read the full article
The Standard Club forecasts underwriting deficit for 2021
23rd February 2021
Specialist marine and energy insurer The Standard Club has completed its renewal negotiations for 2021, renewing 95% of its expiring portfolio. But while the Club expects the 2020/21 policy year to perform better than the previous one, it still anticipates that it will result in an underwriting deficit. This is mainly due ... Read the full article
Lockton launches clinical advisory with HCA
23rd February 2021
Global brokerage Lockton has partnered with HCA Healthcare UK to provide their clients with access to an independent occupational health and clinical advice committee. With the new access, clients will be able to see health experts for a range of advice and guidance within its package. The Clinical Advisory Service offers support ... Read the full article
Build America Mutual gets $150m of reinsurance with second Fidus Re ILS deal
23rd February 2021
Specialist financial guarantee insurer Build America Mutual (BAM) has secured $150 million of fully collateralized reinsurance via a second issuance through its Bermuda special purpose insurer (SPI), Fidus Re. Fidus Re was set up to issue and sell notes to investors, and was previously used by BAM to obtain $100 million ... Read the full article
Hive Underwriting adds Christine Dandridge to Board
23rd February 2021
Hive Underwriting, the holding company of Hive Aero Limited, has appointed Christine Dandridge, ACII to its board as a non-executive director. Dandridge will be joining Hive with immediate effect and brings over 40 years of experience in the insurance industry, beginning her career in 1978. She was one of the founding members ... Read the full article
Hymans Robertson promotes Kieran Mistry
23rd February 2021
Actuarial and advisory consultancy firm, Hymans Robertson, has promoted Kieran Mistry to Head of Non-Traditional Risk Transfer. He will be leading the firm’s advisory service supporting DB pension scheme trustees and sponsors considering new and emerging risk transfer options, including superfunds, capital backed solutions, and alternative insurance products. Since joining Hymans in ... Read the full article
ABI says post-brexit reforms to financial regulations could release £95bn
23rd February 2021
A new report commissioned by the Association of British Insurers published in response to the Government’s consultation on Solvency II shows how changes made to the Matching Adjustment and the Risk Margin mechanisms could free up £95 billion for re-investment. The ABI says these changes to the Solvency II regime would ... Read the full article
Aviva sells French business to Aéma Groupe for €3.2bn
23rd February 2021
After months of speculation, London-headquartered insurer Aviva has announced an agreement to sell its French business to mutual insurer Aéma Groupe, for €3.2 billion in cash. In the second-half of last year, reports started to emerge claiming that Aviva was considering the sale of its life and P&C operations in France ... Read the full article
Legacy deal activity to remain at record levels: PwC
23rd February 2021
New data from PwC shows that participants in the legacy re/insurance market expect deal activity to remain “at record highs” this year, with the US and Lloyd’s markets set to be particularly busy. Respondents to PwC’s Global Insurance Run-off Survey reported that predicted growth in the legacy market materialized over 2020, ... Read the full article
Conduit Re off to a strong start after successful IPO, say execs
23rd February 2021
Conduit Re, the newly-launched property and casualty reinsurer, has reported a strong start to business in attractive and improving market conditions at the January 1st, 2021 reinsurance renewals. After completing its successful IPO, which raised net proceeds of $1.057 billion (£790mn) and led to a Financial Strength Rating of ... Read the full article
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