Reinsurance News
SRG promotes Anderson to Deputy CEO, hires Lebecq as COO
22nd February 2021
Specialist Risk Group (SRG), an integrated group of insurance intermediaries, has promoted Lee Anderson to Group Deputy Chief Executive Officer (CEO) and at the same hired Clare Lebecq as Group Chief Operating Officer (COO). Towards the end of December, it was revealed that SRG had agreed to be acquired by ... Read the full article
Compre announces completion of RITC with Coverys & AXA LM syndicate
22nd February 2021
Legacy group Compre has completed its second Lloyd's transaction, the reinsurance to close (RITC) of Syndicate 3330's 2018 year of account into Compre's Syndicate 1994. The legacy specialist's Lloyd's Syndicate 1994, which is managed by Apollo Syndicate Management, was launched last week. This latest transaction, which includes the purchase of AXA ... Read the full article
Re/insurance M&A to surge in 2021: Clyde & Co
22nd February 2021
Analysts at law firm Clyde & Co believe that global insurance mergers and acquisitions (M&A) activity is “set to soar” in 2021 despite economic challenges due to the pandemic. According to Clyde & Co data, there were 407 completed M&A deal worldwide in the re/insurance sector over 2020, down from 419 ... Read the full article
LMG Chief Exec Lebecq to leave role in April & join Specialist Risk Group
22nd February 2021
The London Market Group (LMG) is searching for a new Chief Executive Officer (CEO) as Clare Lebecq will be stepping down at the end of April 2021. Then Operations Director of JLT Specialty, Lebecq was named CEO of the LMG in August of 2018 to succeed Chris Beazley upon his ... Read the full article
THB rebrands to Amwins Global Risks
22nd February 2021
Amwins Group, Inc., the independent wholesale distributor of specialty insurance products in the U.S., has announced the rebranding of THB to Amwins Global Risks. THB is Amwins' international broking arm based in London, which joined the company in 2012. Since then, THB has doubled its annual premium placed to more than ... Read the full article
ARPC renews $3.475bn retro reinsurance program for 2021
22nd February 2021
The Australian Reinsurance Pool Corporation (ARPC), Australia's terrorism insurance scheme, has announced the renewal of its retrocession reinsurance program for 2021, which includes the purchase of an additional $25 million layer at the bottom of the program. The renewal of the $3.475 billion retro reinsurance program, combined with ARPC's net assets ... Read the full article
Ensurance secures capacity deal with AXA UK
22nd February 2021
Specialty lines MGA Ensurance has secured a new capacity deal with AXA Insurance UK for its core construction and engineering products. The deal sees AXA replace Swiss Re as the MGA’s main capacity provider and provides ‘AA’ rated capacity. “This is a landmark deal for Ensurance. We have worked hard building our ... Read the full article
Risk Strategies makes two leadership changes
22nd February 2021
US insurance broker and risk management firm, Risk Strategies, has promoted Tracy Hoffman and Matthew Smith to Managing Directors as part of planned leadership successions in both its Managed Health Care and Reinsurance arms. Hoffman is set to take over leadership of the National Heath Care Practice’s Managed Care team. She ... Read the full article
Ethiopia Re & AlHuda CIBE enter agreement to promote Re/Takaful industry
22nd February 2021
AlHuda CIBE and Ethiopia Reinsurance have entered into an agreement in order to promote the takaful and retakaful industry in the East African and Ethiopian insurance market. Zubair Mughal, CEO of AlHuda CIBE, said that Islamic finance is not only the interest of the Muslim population due to a number of ... Read the full article
Pacific Life Re strikes partnership with ThaiRe Life
22nd February 2021
Pacific Life Re and ThaiRe Life Assurance PCL have announced the formation of a new partnership to provide sustainable life reinsurance solutions to Thailand-based life insurance operators. The collaboration is expected to bring Pacific Life Re’s technical and product development expertise together with ThaiRe Life’s insights and standing in the local ... Read the full article
US winter storm Uri insurance industry loss lifted to $18bn by KCC
19th February 2021
Catastrophe risk modeller Karen Clark & Company (KCC) has updated its insurance and reinsurance industry loss for U.S. winter storm Uri, which is currently impacting southern states, to $18 billion. The devastating storm arrived on the country's President’s Day weekend bringing damaging ice in the Northwest and snow across the Midwest ... Read the full article
Kin Insurances reaches $10bn insured property value
19th February 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has surpassed $10 billion in total insured property value. The company saw a 400% increase in direct written premiums in Q4 2020 over the previous year, and enjoyed a 92% renewal acceptance rate. “Kin’s growth is evidence ... Read the full article
US winter storm Uri set to inflict record-breaking, multi billion-dollar industry losses
19th February 2021
Winter storm Uri, currently wreaking havoc across southern US states, looks set to become the largest on record for re/insurers, potentially surpassing the cost of 2017’s hurricane Harvey. Storm Uri landed over the US’ President's Day weekend bringing damaging ice in the Northwest and snow across the Midwest and Northeast. Texas has ... Read the full article
Astaara hires Nick Parkes as marine cyber analyst
19th February 2021
Astaara, a newly launched insurer focusing on cyber threats in the maritime industry, has appointed Nick Parkes as a marine cyber analyst. Parkes previously worked in engineering roles for both a commercial ferry company and a mechanical and electrical contractor. This announcement follows the recent appointments of a former naval captain, who ... Read the full article
Homeowners insurance to show modest underwriting loss: Fitch
19th February 2021
Global rating agency, Fitch Ratings has released a report which suggests that the U.S. P&C industry will to shift to a modest statutory underwriting loss in homeowners’ insurance for 2020 reported results. U.S personal lines underwriters have been faced with unique challenges in the homeowners’ line, with losses rising as a ... 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.
