Reinsurance News
Howden names Aon’s Luigi Sturani as CEO, Europe
16th June 2021
Howden has continued its expansion and investment in Europe with the appointments of Luigi Sturani as Chief Executive Officer (CEO), Europe and Enrico Nanni as Chief Commercial Officer, Europe, effective June 2nd, 2021. In his newly created role, Sturani will lead a diverse regional management team, supported by Louise Cable-Alexander, CEO, ... Read the full article
Climate is single biggest opportunity for re/insurers: John Neal
16th June 2021
Lloyd’s CEO John Neal has described climate change as “the largest single underwriting and investment opportunity” that most re/insurers will see in their careers. Speaking on a panel at S&P’s virtual 37th Annual Insurance Conference last week, Neal said the re/insurance industry needs to “look at climate positively.” Neal was joined by ... Read the full article
Lockton Re appoints Jonty Davies to lead new Bermuda office as CEO
16th June 2021
Lockton Re, the reinsurance arm of the global brokerage, has announced the appointment of Jonathan (Jonty) Davies as Chief Executive Officer (CEO) of its newly launched Bermuda office. The launch of Lockton Re (Bermuda) Limited forms part of the broker's growing global platform. Davies joins the company from Aon Reinsurance Solutions where ... Read the full article
AM Best notes growing interest in GCC captives
16th June 2021
Analysts at AM Best have noted growing interest in the creation of captive insurance companies in the Gulf Cooperation Council (GCC) region, due partly to the hardening trend of international commercial insurance rates. The rating agency observed that the use of captive re/insurance in GCC countries has been limited to date, ... Read the full article
Global macroeconomic resilience cut by 18% by COVID-19: Swiss Re
15th June 2021
COVID-19’s emergence in 2020 caused macroeconomic resilience to fall by 18%, according to a Swiss Re Institute report. While global economic growth is expected to recover strongly this year after the pandemic-induced recession in 2020, the resulting macroeconomic resilience will fall short of levels seen pre-COVID-19. Meanwhile, the global insurance protection gap reached ... Read the full article
TransRe and Gen Re break off underwriting partnership
15th June 2021
Transatlantic Reinsurance Company (TransRe) and General Reinsurance Corporation (Gen Re) have decided not to renew their underwriting partnership for North American property and casualty (P&C) business that has been in place since July 2016. The reinsurers announced yesterday that they would not extend the 5-year agreement, under which TransRe has acted ... Read the full article
“Exciting time” for Global Atlantic as clients seek post-pandemic optimization: Manu Sareen
15th June 2021
It is an “exciting time” in the life and annuity market as the challenges posed by the COVID-19 pandemic and prolonged low interest environment have created new opportunities for reinsurance players such as Global Atlantic. This is according to Manu Sareen, President for Institutional Markets at Global Atlantic and CEO of ... Read the full article
CCRIF Caribbean members renew parametric insurance coverage
15th June 2021
Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) has announced that all member governments in the Caribbean have renewed their parametric insurance coverage ahead of the upcoming 2021 Atlantic Hurricane Season. This is the second year in a row that members have ceded over US$1 billion in risk to ... Read the full article
AEGIS London to offer active assailant parametric cover
15th June 2021
Lloyd’s insurer AEGIS London has announced the launch of a new parametric insurance product that is designed to protect small businesses against economic losses following a shooting or malicious incident within 250m of their premises. The product is targeted initially at SME businesses in the Dallas area for portfolios of up ... Read the full article
Greenlight Re hires Heejae Cho as Head of Innovation Underwriting
15th June 2021
Specialist property and casualty reinsurer Greenlight Capital Re has appointed Heejae Cho as Head of Innovation Underwriting. Cho brings over 18 years of senior underwriting and actuarial experience to Greenlight Re, previously working at ACE, XL and Arch. She will be responsible for managing the underwriting activities within the growing Greenlight Re ... Read the full article
Insurtech Root places June property cat program with Tremor Panorama
15th June 2021
Root, Inc., the parent company of the Root Insurance family of carriers, has successfully placed its June property catastrophe program with Tremor Technologies' next generation trading platform, Panorama™. Insurtech Root leverages industry-leading, mobile-first technology in order to bring fairness and a best-in-class experience to drivers. The company focuses on driving behaviour rather ... Read the full article
Colombian protests could trigger higher LatAm reinsurance rates: Fitch
15th June 2021
Analysts at Fitch Ratings have warned that Colombian insurers may face an impact to their loss ratios and overall financial performance due to social protests over the last month that have caused damage to property. Fitch expects a moderate deterioration in profitability but does not expect these events to lead to ... Read the full article
DUAL appoints Gordon Steward to MD role
15th June 2021
Howden Group’s underwriting arm DUAL has announced the appointment of Gordon Steward as Managing Director, Forestry. Steward reports to Richard Clapham, CEO, DUAL Group, and will focus primarily on small, medium to medium-large forestry companies in the southern hemisphere markets of South Africa, Australia, Chile, Uruguay, South East Asia and New ... Read the full article
FCA data shows further slowdown in BI test case payouts
15th June 2021
New data from the Financial Conduct Authority (FCA) shows a significant slowdown in the rate at which claims are being paid out for policies related to the COVID-19 business interruption (BI) test case in the UK. In total, reported claims payments now amount to £757 million as at June 14th, which ... Read the full article
Protective appoints Pooja Rahman as Chief Risk Officer
15th June 2021
Protective Life Corporation, a wholly owned subsidiary of Dai-ichi Life Holdings, has announced the appointment of Pooja Rahman as Senior Vice President (SVP) and Chief Risk Officer. With over 20 years of risk management, finance and legal experience in the insurance industry, Rahman most recently served as Head of Financial Risk ... Read the full article
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