Reinsurance News
Mosaic and DXC launch tech platform for specialty insurance
19th August 2021
Mosaic Insurance and DXC Technology have announced the launch of a new insurance technology platform designed to increase the speed at which specialty insurance is sold, underwritten and serviced. The new platform is powered by several of DXC’s technology services, including DXC Assure for Commercial and Specialty, business process outsourcing, applications, ... Read the full article
Behrens named Chief Operating & Tech Officer at Ryan Specialty Benefits
19th August 2021
Ryan Specialty Group, LLC has announced the appointment of Kirk Behrens as Chief Operating & Technology Officer of Ryan Specialty Benefits. In this role, he will work closely with John Zern, President and CEO of Ryan Specialty Benefits, to lead the development of this unit, which focuses on wholesale benefits brokerage ... Read the full article
Lloyd’s reports improved syndicate forecasts for 2019/2020
19th August 2021
Insurance and reinsurance marketplace Lloyd’s of London has released updated forecasts for its 2019 and 2020 years of account, which show improved forecasts for most syndicates. Overall, 16 syndicates are reporting an improved forecasts, with the largest improvements at SPAs 6107 (Beazley) and 6104 (Hiscox), although some syndicates continued to report ... Read the full article
Allstate braced for $227mn July cat losses
19th August 2021
US primary insurer Allstate has announced July catastrophe losses totalling an estimated $227 million, or $179 million after-tax. July saw 18 events rack up $211 million in losses, plus unfavourable prior period reserve estimates. In contrast, losses from the prior year period were $145 million and driven by hurricane Hanna and two ... Read the full article
Kin offers greater protection in upgraded reinsurance program
19th August 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has upgraded its reinsurance program to offer greater disaster protection. The insurer, which is currently backed 42 blue chip reinsurers, supports and manages risks for homeowners who are most exposed to the mounting impact of climate ... Read the full article
Property market sufficiently capitalised entering Q3: Amwins
19th August 2021
As we enter the third quarter of 2021 there remains sufficient capacity in the property market, with availability dependent on risk perception and rate, says Harry Tucker, Amwins' National Property Practice Leader. Commenting in a recent Amwins state of the market report, Tucker underlined how E&S carriers have become more willing ... Read the full article
OneAdvent’s Financial Lines MGA secures additional capacity with Active Re
19th August 2021
OneAdvent’s Financial Lines MGA has secured additional capacity with Barbadian reinsurer, Active Re. The negotiations with Active Re have resulted in the provision of a Delegated Underwriting Authority (DUA) to OneAdvent to write Financial Institutes and Commercial D&O on a facultative reinsurance basis. The new facility aligns with the Financial Lines MGA’s ... Read the full article
Ardonagh sees H121 income rise 33.4% to £433mn
19th August 2021
The Ardonagh Group has reported a 33.4% rise in income to £443.2 million for the first half of 2021, and an adjusted EBITDA increase of 53.4% to £153.3 million. Year-to-Date the broker also shouldered £279.9 million in operating costs, a 24.5% increase from the prior year period. Results were said to be ... Read the full article
MRSI releases new E&S Management Liability solution
19th August 2021
Munich Re Specialty Insurance (MRSI) has released a new E&S Management Liability solution for private companies and non-profit organisations. The solution delivers customised coverage for difficult exposures regardless of size of risk. Over the past two years, Management Liability coverage has become an increasingly important protection for businesses and organisations as they ... Read the full article
Eos hires Zach Powell as General Partner
19th August 2021
Eos Venture Partners (Eos), the venture capital fund focused exclusively on the insurtech sector, has appointed Zach Powell as General Partner. Powell brings years of industry experience to Eos, having spent the majority of his career as a principal investor in the financial services sector with a focus on insurance. He joins ... Read the full article
Cat losses cast shadow over European reinsurers’ H2 profits: Moody’s
19th August 2021
Analysts at Moody’s say that large catastrophe events in July have “cast a shadow” over the profitability outlook for the largest four European reinsurers for the remainder of the year, despite strong results over the first six months. Munich Re, Swiss Re, Hannover Re and SCOR all reported sharply higher profit ... Read the full article
AEGIS London makes two new promotions in claims team
19th August 2021
Lloyd’s insurer AEGIS London has announced it has made two new promotions in its claims team. Kerry Williams has been made Deputy Head of Claims, which is in addition to her current responsibility as Head of Technical Claims. Williams has been with AEGIS London since 2012, when she joined from Catlin. Carrie Trudeau, ... Read the full article
Hannover Re US incorporates ExamOne data into underwriting platform
19th August 2021
Hannover Life Reassurance Company of America (Hannover Re US) has announced a collaboration with ExamOne, a Quest Diagnostics Company, to incorporate ExamOne’s innovative LabPiQture data into hr | ReFlex, Hannover Re’s automated underwriting solution for life insurers. The integration will allow hr | ReFlex clients to automate the use of LabPiQture’s ... Read the full article
Miller hires Ron Whyte as Head of Strategic Development, Singapore
19th August 2021
Independent specialist re/insurance broker Miller has appointed Ron Whyte to lead the broker’s expansion in Asia-Pacific. Whyte joins as Head of Strategic Development, and will be based in Singapore. Bringing 40 years of industry experience, he will oversee Miller’s growth strategy in the Asia-Pacific region, bringing its capabilities and expanding its service ... Read the full article
ASR Re gains B++ strength rating from AM Best
19th August 2021
ASR Re, the newly launched Bermuda subsidiary of pan-African reinsurer Africa Specialty Risks (ASR), has been assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) by AM Best. The ratings, which both have a stable outlook, reflect ASR’s consolidated balance sheet strength, ... Read the full article
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