Reinsurance News
Credit insurtech LimitFi closes seed funding round
16th July 2021
Limit Financial (LimitFi), a managing general underwriter (MGU) specializing in credit insurance and reinsurance solutions, has closed a seed funding round led by Des Moines-based ManchesterStory, a venture capital firm focused on the insurtech sector. LimitFi focuses on low-loss, conservatively structured credit risks where there is not considered to be an ... Read the full article
Chubb bolsters senior UK & Ireland Casualty team with two new hires
16th July 2021
Global insurer Chubb has announced two senior appointments to its United Kingdom & Ireland (UK&I) Casualty team. Ben Campey has been appointed London Corporate Casualty Manager, while Chris Templeton becomes UK&I Construction Casualty Manager. Campey will be responsible for leading and growing Chubb's London Middle Market casualty portfolio, working alongside business development ... Read the full article
Enstar set for $880mn share repurchase, $229mn stake in Enhanzed Re
15th July 2021
Legacy specialist Enstar Group is set to repurchase 3,749,400 of ordinary shares currently held by Hillhouse Capital Management for a total of $879.3 million. The shares represent Hillhouse’s entire interest in Enstar and consist of 16.9% total ordinary shares and 9.4% voting ordinary shares. The transaction is expected to close within a ... Read the full article
Miller hires Debbie Hobbs as Head of Cyber, Tech & Media
15th July 2021
Independent specialist re/insurance broker Miller has announced the appointment of Debbie Hobbs as Head of Cyber, Technology & Media. Hobbs joins from cyber MGA EmergIn Risk and will concentrate on growing Miller’s cyber, tech and media book. She will report into Head of Delegated Authorities & Professional Risks, Tim Norman. Tim Norman commented ... Read the full article
MS Amlin adds Richard Bayman as Head of Aviation Reinsurance
15th July 2021
Lloyd’s global specialty re/insurer MS Amlin Underwriting has announced the appointment of Richard Bayman as Head of Aviation Reinsurance. Bayman will take up the role in Q3 2021, subject to regulatory approval, and report directly to Matthew Wilken, Head of Reinsurance. Bayman brings more than twenty years of experience in the aviation ... Read the full article
AM Best stays negative on Mexico over pandemic concerns
15th July 2021
AM Best has decided to maintain its negative outlook on Mexico’s insurance market, due to continued concerns over the impacts of the COVID-19 pandemic. In 2020, the rating agency notes that Mexico’s insurers were able to generate minimal business, reflecting the limited economic response to the pandemic on a local level, ... Read the full article
Howden launches climate risk, resilience division
15th July 2021
International insurance group Howden has announced the launch of a climate risk and resilience division, set to be led by Charlie Langdale. The team will focus on risk transfer products designed to help accelerate and de-risk the move towards a low carbon economy, as well as mitigate the results of climate ... Read the full article
Apollo gains Lloyd’s approval for standalone Syndicate 1971
15th July 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has been granted in principle approval from The Council of Lloyd’s to convert Special Purpose Arrangement (SPA) 1971 into a standalone syndicate. However, the approval remains subject to the completion of the Lloyd’s ‘making it happen’ (MIH) process. The ibott SPA 1971 was ... Read the full article
Qatar Re names William Malloy Chairman of the Board
15th July 2021
Multi-line reinsurer and Qatar Reinsurance has appointed William Malloy to succeed Sunil Talwar as Independent Non-executive Chairman. Malloy is expected to join the Board in September 2021 subject to regulatory approval. He brings with him 26 years of leadership experience in the insurance industry, spending more than 10 years with AIG serving ... Read the full article
South African unrest could drive insured losses of $680m: reports
15th July 2021
State-owned insurer Sasria has estimated that days of civil unrest across South Africa could drive insured losses of between 7 billion rand and 10 billion rand ($481 million to $683 million). Sasria told Reuters that the losses would mostly stem from damage and theft from businesses, following widespread vandalism and looting, ... Read the full article
Aon shuffles EMEA leadership
15th July 2021
Global insurance and reinsurance broker Aon has announced a number of senior leadership appointments in EMEA, as John Cullen steps down from his role as Chief Executive Officer (CEO) of Commercial Risk, Health and Affinity in EMEA at the end of June. As a result of Cullen's transition from the role, ... Read the full article
Sylvie Gleises named Country Manager, Singapore at AXA XL
15th July 2021
The insurance division of AXA's property & casualty and specialty risk division, AXA XL, has appointed Sylvie Gleises as Country Manager, Singapore, effective September 1st, 2021. Currently, Gleises serves as Global Head of Revenue Synergies and Head of Client Management for APAC & Europe at AXA XL. In her new role, which ... Read the full article
Liberty Mutual Re makes three senior appointments
15th July 2021
Liberty Mutual Reinsurance, the reinsurance unit of Liberty Specialty Markets, has announced the promotions of Matthew Pappas to Senior Underwriter and Max Mallen to Head of Portfolio Management for London and RoW. At the same time, the company announced that Michael Reynolds will join its US Casualty Underwriting team as Underwriting ... Read the full article
AIG offloads 9.9% share in its Life & Retirement operation to Blackstone
15th July 2021
American International Group, Inc. (AIG) has reached an agreement with Blackstone over the sale of a 9.9% stake in its Life & Retirement business, and will also sell certain affordable housing assets to Blackstone Real Estate Income Trust (BREIT). Blackstone will acquire an almost 10% stake in AIG's Life & Retirement ... Read the full article
Vantage’s excess and surplus (E&S) lines carrier gets rating
15th July 2021
AM Best has assigned a financial strength rating of A- (Excellent) and a long-term issuer credit rating of 'a-' (Excellent) to Vantage Risk Specialty Insurance Company (Vantage Risk) (Chicago, IL), along with a rating outlook of stable. Vantage Risk is a newly added member to Vantage Group Holdings and writes excess ... Read the full article
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