Reinsurance News
Allstate’s June cat losses hit $154m, bringing Q2 total to $752m
16th July 2021
US primary insurer Allstate has announced estimated catastrophe losses for the month of June of $195 million or $154 million, after-tax. Together with losses of $598 million between the months of April and May, this brings Allstate’s total catastrophe losses for the second quarter of 2021 to $752 million, after-tax. Catastrophe losses ... Read the full article
Aon appoints Thompson to lead broking in EMEA region
16th July 2021
Re/insurance broker Aon has added Tracie Thompson as Chief Broking Officer for the EMEA region, excluding the UK. Thompson’s appointment is effective immediately and will see her report to Hugo Wegbrans, Global CBO, and Eduardo Dávila, CEO of Commercial Risk, Health and Affinity in EMEA (excluding UK). Based in Madrid, she will ... Read the full article
Insured losses from flooding across Europe to reach into the billions
16th July 2021
The insurance and reinsurance industry is expecting losses in the billions of Euros as a result of catastrophic flooding across parts of Europe, with the event poised to become one of the costliest flood episodes on record. In Germany, hundreds of people are missing and more than 100 lives have been ... Read the full article
IUA endorses UK building safety bill
16th July 2021
International Underwriting Association (IUA) has lent its support to the UK Government’s Building Safety Bill, which aims to provide insurers with greater confidence to develop new products for construction professionals. However, the IUA warns that the core aims of the legislation must be properly implemented, resourced and enforced. “The Bill is good ... Read the full article
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
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.
