Reinsurance News
Chaucer launches Belt & Road consortium at Lloyd’s
24th June 2021
Specialty re/insurance group Chaucer has launched its new Belt and Road Consortium at Lloyd’s, designed initially to underwrite political violence risks but with plans to develop other lines in the future. Working with Chaucer’s parent company China Re, the consortium will provide large-scale capacity of up to $400 million for political ... Read the full article
Typtap hires Travis Rosecrans as VP of Risk & Reinsurance
24th June 2021
TypTap, the insurtech property underwriter funded by Floridian primary carrier HCI Group, has appointed Travis Rosecrans as Vice President, Risk & Reinsurance. Rosecrans joins from Gemini Re where he was a Co-Founder and Portfolio Manager. He spent just over five years at Guy Carpenter, working in roles such as Catastrophe Risk Analyst, ... Read the full article
Howden names Allianz’s Holger Schaefer as CEO for Germany
24th June 2021
Global insurance broker Howden has appointed Holger Schaefer, formerly of Allianz Group, as its new Chief Executive Officer (CEO) for Germany, effective September 1st, 2021. In his new role, Schaefer will lead Howden's goals for the German marketplace by building on its strong presence and leveraging the businesses and their expertise ... Read the full article
FERMA re-elects Wegener as President of Board
24th June 2021
The Federation of European Risk Management Associations (FERMA) has announced that Dirk Wegener has been re-elected to another two-year mandate as President of its Board. Wegener, who is Global Head of Corporate Insurance for Deutsche Bank and a member of the German risk management association GVNW, was also re-elected as member ... Read the full article
Global Atlantic in $5.7bn annuity reinsurance transaction with Great American
24th June 2021
Global Atlantic Financial Group Limited, a U.S. retirement, life re/insurance company, has completed a $5.7 billion fixed and fixed-indexed annuity reinsurance transaction with Great American Life Insurance Company, an affiliate of American Financial Group. Global Atlantic is set to co-invest in the transaction, alongside its subsidiaries, by leveraging the third-party capital ... Read the full article
Singapore Reinsurance Association election leaves board unchanged
24th June 2021
The Singapore Reinsurers’ Association (SRA) has announced that its board remains unchanged following a vote at its Annual General Meeting (AGM) last month. The AGM was held virtually for a second consecutive year, but the SRA also revealed plans to hold the upcoming Singapore International Reinsurance Conference (SIRC) as a ‘hybrid ... Read the full article
Evolution of nat cat events remains a key challenge for the energy space: Munich Re Syndicate’s Timothy Lee
23rd June 2021
The increased unpredictability and severity of natural catastrophe events will continue to be the key challenges for the energy insurance sector, according to Timothy Lee, Energy and Engineering Underwriter, Munich Re Syndicate Singapore. In an interview with Reinsurance News, Lee noted that the energy insurance market continues to harden, although at ... Read the full article
Nationwide names Tim Frommeyer as CFO
23rd June 2021
Ohio-based insurer Nationwide has appointed Tim Frommeyer as Chief Financial Officer (CFO) and also added him to the Nationwide executive leadership team. Frommeyer joined Nationwide 1986 and has held multiple senior positions including chief actuary for financial services, CFO for that organisation, and most recently as CFO for both financial services ... Read the full article
James River COO Robert Myron to retire in July
23rd June 2021
James River Group has announced the retirement of its President and Chief Operating Officer Robert Myron, after more than 11 years service. Myron is set to retire on July 31 for health reasons related to the effects of Lyme Disease. James River and Myron are expected to maintain a consulting relationship through ... Read the full article
Alternative Risk Strategies creates cannabis insurance solution
23rd June 2021
Alternative Risk Strategies (ARS) has created a new insurance solution for the cannabis industry. The solution has been specifically designed to meet the most difficult insurance challenges cannabis, hemp and CBD businesses face today. Under current market conditions, cannabis businesses are trying to purchase or renew insurance policies are experiencing an increasingly ... Read the full article
Arch Re looks to strengthen UK motor capabilities with acquisition of Somerset
23rd June 2021
Arch Reinsurance Ltd., the specialty property and casualty reinsurance subsidiary of Bermuda-based Arch Capital Group Ltd., is looking to acquire Somerset Bridge Group Limited, Southern Rock Holdings Limited and affiliates (Somerset). The proposed transaction, which is subject to regulatory approval, includes Somerset's motor managing general agent, distribution capabilities via direct and ... Read the full article
European insurers primed for more M&A: Moody’s CFO Survey
23rd June 2021
European insurers appear to be emerging from the pandemic with a stronger appetite for mergers and acquisitions (M&A), according to a survey of Chief Financial Officers conducted by Moody’s. Respondents seemed to indicate that mergers and acquisitions are increasingly being seen as a means of adapting business models to sluggish long-term ... Read the full article
Hiscox adds three Non Exec Director’s to boards of UK entities
23rd June 2021
Specialist global insurer Hiscox has bolstered the boards of two UK legal entities, adding three new Independent Non Executive Directors. James Illingworth will sit on the Board of Hiscox Syndicates Ltd (HSL), which oversees the insurer’s globally traded specialty (re) insurance lines, while Mark Cliff and Jane Hayes will both join ... Read the full article
TigerRisk names James Loggie as partner of Trade Credit, Surety and Political Risk
23rd June 2021
Global insurance and reinsurance brokerage, TigerRisk Partners has appointed James Loggie as partner of its global Trade Credit, Surety and Political Risk business. Based in London, Loggie will help drive TigerRisk’s aspirations to become the global leader in credit and related lines. Loggie will take up his appointment next year after completing ... Read the full article
Mosaic begins writing professional liability through London office
23rd June 2021
Newly established specialty insurer Mosaic begun underwriting professional liability coverage through its London office. Mosaic offers professional indemnity and D&O coverage for a range of service providers, including lawyers, specialist engineers in target industries like oil and gas, marine and aviation. The firm’s London-based professional liability team includes 20-year veteran of Lloyd’s ... Read the full article
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