Reinsurance News
European Commission clears VIG Aegon acquisition
13th August 2021
The European Commission has given clearance for Vienna Insurance Group AG Wiener Versicherung Gruppe's (VIG) acquisition of Aegon’s businesses in Central and Eastern Europe. Last year, Aegon, a provider of life insurance, pensions and asset management, reached an agreement to sell its Central and Eastern European operations to VIG for ... Read the full article
Hippo furthers underwriting capacity, partners with Incline P&C
13th August 2021
Incline P&C Group has entered into a new issuing carrier relationship with Hippo Insurance Services to offer protective policies and services to home insurance customers. Within the last six years, Hippo has expanded its insurance products to reach homeowners in 37 states and grown its distribution partnerships to meet customers when ... Read the full article
Cincinnati Financial posts $703mn net income for Q2
13th August 2021
Primary insurer Cincinnati Financial has reported a net income of $703 million for the second quarter of 2021, compared with $909 million for the same prior year period. The insurer reported a $206 million decline in income for the second quarter primarily due to the after-tax net effect of a $427 ... Read the full article
AmTrust to open Salt Lake City office
13th August 2021
New York based insurer AmTrust Financial Services, has created a greater Salt Lake City office which is set to open in November. The insurer expects to add up to 180 new high-paying Utah jobs in the next five years. This new office expansion supports AmTrust’s core lines of business and will ... Read the full article
Concord names Lewis-Gruss VP, Underwriting Counsel & Litigation
13th August 2021
Concord Specialty Risk has announced the appointment of Ayanna Lewis-Gruss, Esq. as Vice President & Underwriting Counsel, Litigation Insurance. She’s set to lead Concord’s Litigation Insurance practice and will be based in New York, NY. Lewis-Gruss has over eighteen-years’ experience in all aspects of litigation and arbitration, including managing and mentoring other ... Read the full article
Pension Risk Transfer volumes fall in first-half 2021
13th August 2021
According to a new report by Hymans Robertson, the total pension scheme buy-in and buy-out volumes over the first half of 2021 are expected to reach over £8 billion. Due to these volumes being lower than insurers would have expected, Hymans Robertson believes that there will still be opportunities for schemes ... Read the full article
CNA promotes Dieter Korte to Senior Vice President, Middle Market
13th August 2021
CNA has appointed Dieter Korte as Senior Vice President, Middle Market, effective immediately. In this role, Korte will be responsible for profitability, growth, and strategic direction of CNA's Middle Market Business Unit. Korte joined CNA over five years ago after 25 years of commercial leadership in the industry. In his previous role he ... Read the full article
COVID could elevate US hurricane claims: PCS
13th August 2021
Due to the increasing number of COVID-19 cases across areas of the United States, there is potential for added pressure to the catastrophe re/insurance market, according to Verisk company PCS, who has undertaken research on the matter. Last month, PCS Head Tom Johansmeyer warned that a pandemic resurgence could have ... Read the full article
Aon to provide Kraft Heinz’ captive insurer with investment services
13th August 2021
Re/insurance broker Aon has been hired to provide its new investment service for captive insurers to the captive insurer of global food and beverage company Kraft Heinz. Aon works with Goldman Sachs to deliver the service, which seeks to make it easier for captive insurers to identify and access appropriate, high-quality ... Read the full article
WTW appoints Jon Drummond to lead North America broking operations
13th August 2021
Global advisory, broking and solutions company Willis Towers Watson has announced the appointment of Jon Drummond as its new Head of Broking North America. Drummond will be responsible for leading the company’s North America broking operations and strategy, while also driving the transformation of digital broking. He'll be based in Chicago and ... Read the full article
DUAL to acquire Align Financial Holdings
12th August 2021
DUAL, the underwriting arm of Howden Group, has reached an agreement to acquire Align Financial Holdings, one of the leading specialist general agency and underwriting management groups in the US. Kieran Sweeney, Founder and CEO of Align, will lead the combined US businesses, supported by Jim O’Connor, CEO of DUAL North ... Read the full article
Sompo Global Risks to offer pandemic risk protection
12th August 2021
Sompo International Holdings has announced that Sompo Global Risk Solutions (GRS) will offer protection for epidemic and pandemic risk. The new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and ... Read the full article
Aon re-hires Sergio Jackson to serve as Reinsurance Solutions Senior MD
12th August 2021
Global re/insurance broker Aon has hired Joe Sergio Jackson back from TigerRisk to the US team of its Reinsurance Solutions unit as a Senior Managing Director. Jackson will be based in New York with a focus on key property accounts both regionally and globally. He’ll adopt additional responsibilities across segments of ... Read the full article
AXA XL appoints Mahoney to lead Political Risk, Credit & Bond Risk Mgmt
12th August 2021
AXA XL has appointed Dane Mahoney to serve as Global Head of Political Risk, Credit & Bond (PRCB) Risk Management. Based in New York, Mahoney reports to Rafael Docavo-Malvezzi, Global Chief Underwriting Officer for PRCB and will lead a team of global risk analysts across the Americas, Asia, and the UK. He ... Read the full article
Argo CUO departs as leadership reshuffle announced
12th August 2021
Specialty insurer Argo has announced that Chief Underwriting Officer, Tim Carter, and head of international Matt Harris, have both left the company. Concurrently, A number of key appointments have been made, including the promotion of Susan Comparato to Chief Administrative Officer. Comparato will oversee the global business services and innovation teams, having ... Read the full article
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