Reinsurance News
Markel hires Tom Williams as Environmental Product Line Leader
15th January 2021
Financial holding company Markel Corporation has appointed Tom Williams as Environmental Product Line Leader, where he will lead the environmental team for the Markel Specialty division. Williams previously worked at Allianz Global Corporate & Specialty, where he was the environmental practice group leader for five years. Prior to this, he worked for ... Read the full article
Lemonade targets $544.5mn from upsized share offering
15th January 2021
Insurtech start-up Lemonade intends to offer 3,300,000 shares of its common stock for sale in an underwritten public offering, resulting in net proceeds of up to $544.5 million. The net proceeds from the offering is based on a public offering price of $165 per share, which is up on the $160.74 ... Read the full article
AXA XL names Pamela Rosado general counsel
15th January 2021
AXA XL has announced the appointment of Pamela Rosado as General Counsel, effective February 8. Rosado reports to AXA XL Chief Executive Officer (CEO), Scott Gunter and will be based in New York. She takes on the role from Anthony Recine, who served as interim General Counsel and who will now return ... Read the full article
Core Specialty, Lancer Management launches excess transportation program
15th January 2021
Core Specialty has secured a new partnership with Lancer Management Company and will now provide excess liability limits for qualified local, intermediate and long haul trucking accounts as well as general commercial and public automobile companies. The new excess facility will follow underlying commercial auto, general liability and employer's liability coverage. The ... Read the full article
Lloyd’s CFO Keese predicts strong interest in market’s ILS platform
14th January 2021
As the specialist Lloyd's of London insurance and reinsurance marketplace continues to evolve and enable additional modern ways of insurance financing, interest in the market sponsored London Bridge Risk PCC is expected to be robust, according to Burkhard Keese, Chief Financial Officer (CFO) at Lloyd's. Earlier today, Lloyd's announced that ... Read the full article
Howden Group’s HX partners with expert.ai
14th January 2021
HX, the data and analytics division of Howden Group, has announced a partnership with expert.ai to augment its data analytics services. Expert.ai's underwriting is aligned with HX’s aim to help insurers, re-insurers, corporates and brokers maximise their resources through its data insights. The platform works by automating the reading and analysis of ... Read the full article
Lloyd’s creates London Bridge Risk PCC as regulators approve new mISPV
14th January 2021
In a move which provides investors with easier access to the specialist Lloyd's of London insurance and reinsurance marketplace, regulators in the UK have approved the creation of a new multi Insurance Special Purpose Vehicle (mISPV). As part of the Future at Lloyd's strategy, the receipt of regulatory approval from both ... Read the full article
Third-party capital & ILS assets rise in 2020 as market shows signs of recovery
14th January 2021
Third-party reinsurance and insurance-linked securities (ILS) assets under management (AuM) of the top-ten ILS fund and third-party reinsurance capital managers increased to more than $61 billion through H2 2020, led by Nephila Capital, LGT ILS Partners, Fermat Capital Management, and Leadenhall Capital Partners. Data featured in the Artemis Insurance ... Read the full article
Return on capital to improve for reinsurers but price improvements to fade: Fitch
14th January 2021
Although Fitch Ratings expects the return on capital of the reinsurance sector to improve notably in 2021, analysts warn that price improvements are likely to "gradually fade" over the next 12-18 months on the back of ample capital and an elevated risk appetite. As expected, the reinsurance market continued to firm ... Read the full article
Howden to launch Australian broking operation
14th January 2021
International insurance broker Howden is entering a strategic partnership with insurance intermediary network Steadfast that will see the creation of an Australian broking operation. The partnership will also look to support Steadfast’s London Market broking requirements. Meanwhile, Howden in Australia will join Steadfast’s network - the country's largest general insurance platform - in ... Read the full article
Convex secures further $500mn, bringing total raised to $3.2bn
14th January 2021
International speciality re/insurer Convex has secured $500 million in committed preferred equity capital from affiliates of global investment firm Sixth Street. The company wrapped up 2020 with the raising of $1 billion, a move which brought the total amount raised in the 18 months since its launch to $2.7 billion. It was ... Read the full article
Capital supply sufficient to meet foreseeable reinsurance demand: Aon
14th January 2021
Aon analysts have described the capital-raising activity following the start of 2020 as having left the global supply of reinsurance capacity broadly unchanged. Overall, supply is considered sufficient to meet foreseeable reinsurance demand, but is likely to be deployed at better terms than have prevailed previously. Aon considers poor reinsurer earnings since ... Read the full article
MS Amlin SE names Sandra van der Wielen head of HR
14th January 2021
MS Amlin Insurance SE has announced the appointment of Sandra van der Wielen as head of Human Resources. Wielen brings over two decade's experience in HR management and for the last 10 years served as Head of HR at Merck for Belgium, Netherlands and Luxemburg, extended to the Nordic countries two years ... Read the full article
Liberty (LSM) names Lesley Harding as Global Head of Energy
14th January 2021
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has unveiled Lesley Harding as its new Global Head of Energy, effective immediately. Based in the company's London office, Harding reports to Michael Gosselin, Chief Underwriting Officer (CUO), Specialty. In her new role, she takes on responsibility for the firm's global ... Read the full article
Chaucer promotes Wyatt to Head of Political Risk and Credit
14th January 2021
Specialty re/insurance group Chaucer has promoted Deborah Wyatt to Head of Political Risk and Credit, as current head Nick Kilhams retires after 22 years of dedicated service. Under Nick’s leadership Chaucer has become a centre of excellence for political risk and credit underwriting, building a team focussed on delivering solutions for ... Read the full article
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