Reinsurance News
American Integrity partners with Cape Analytics
21st January 2021
Florida-based property insurer American Integrity Insurance Company has partnered with Cape Analytics, allowing American Integrity to assess properties remotely to keep its agents, employees and customers safe, an essential capability throughout the COVID-19 pandemic. The insurer will be using Cape Analytics’ geospatial property intelligence, such as roof condition rating, roof geometry, ... Read the full article
Pandemic-related risks front and centre for corporates in 2021: Allianz
20th January 2021
The 10th annual Allianz Risk Barometer reveals that exposures related to the ongoing COVID-19 pandemic are considered the top business risks in 2021, with business interruption (BI) taking the top spot for the eighth time. A significant 41% of responses see BI as the top risk to business in 2021, followed ... Read the full article
SCOR collaborates with Covr Financial & Americo on life solution
20th January 2021
Global re/insurer SCOR, Covr Financial Technologies and Americo Financial Life and Annuity Insurance Company have launched LoanMatch Protector, a life insurance policy customised to a consumer's specific loan amortisation schedule. This new policy can be accessed by customers of banks, credit unions, lenders, e-banks and direct lenders through Covr's industry-leading, white-labeled ... Read the full article
Astaara makes three leadership hires as part of expansion
20th January 2021
Risk management company Astaara has employed three new senior members of staff as part of the company's expansion. Victoria Knowles has joined as Chief of Staff, while Asti Rogers and Gemma Smyth take on the roles of Head of Operations and Head of Analytics. Knowles has over 20 years of experience in ... Read the full article
Global Indemnity CEO Cynthia Valko to retire
20th January 2021
Global Indemnity Group's Chief Executive Officer Cynthia Valko is set to retire from the company on January 31. She will continue to serve the in an advisory capacity. The company’s board of directors will be undertaking a search process to identify the successor for Valko. “It has been my great privilege to serve ... Read the full article
QBE adds directors to North America board
20th January 2021
QBE has announced the addition of two new Non-Executive Directors to the board of its subsidiary, QBE North America. The new appointments are Shamla Naidoo and Sharon Ritchey. Both new directors will serve on the Audit, Investment, People & Remuneration and Risk & Capital Committees. There are also plans for Ritchey to Chair ... Read the full article
Sixth Street to acquire Talcott Resolution
20th January 2021
Global investment firm Sixth Street has agreed to acquire Talcott Resolution Life Insurance Company from a consortium of investors led by Cornell Capital, Atlas Merchant Capital, TRB Advisors, Global Atlantic Financial Group, Pine Brook, J. Safra Group, and The Hartford. Talcott Resolution manages over $90 billion in liabilities and surplus for ... Read the full article
Fitch sees regulatory initiatives as positive for Brazilian insurance market
20th January 2021
Regulatory changes supported by Superintendencia de Seguros Privados (SUSEP), a Brazilian state body responsible for insurance operations, should boost competition in the country's insurance sector and lower prices for consumers, reports Fitch. Currently, of the 120 insurance carriers authorised to operate in Brazil, around 10% control some 80% of the total ... Read the full article
Swiss Re’s net loss forecast to hit $389mn in 2020, says Berenberg
20th January 2021
Berenberg is anticipating Swiss Re to register a net loss of $389 million for 2020, up from the previous $178 million estimate, with COVID-19 claims driving the earnings downgrade for the year. It's worth noting that while this analysis applies directly to Swiss Re, the widespread nature of COVID-19 could result ... Read the full article
Constellation acquires INSUREtrust
20th January 2021
Constellation Affiliated Partners has acquired INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Georgia. INSUREtrust distributes cyber liability, technology errors & omissions, and miscellaneous professional liability coverages. Alongside its acquisition by Constellation, a New York-based insurance consolidator platform, the INSUREtrust team also announced the promotion of Christiaan Durdaller to President ... Read the full article
HSBC & Etiqa named as shortlisted bidders for AXA Singapore: reports
20th January 2021
British bank HSBC Holdings and Etiqa, the majority owned Malayan Banking insurance joint-venture, have been named as two of the shortlisted bidders for the Singapore operations of global insurer and reinsurer AXA, reports Bloomberg. According to reports, people familiar with the matter have said that the sale of AXA Singapore could ... Read the full article
Gallagher acquires Atlas General Insurance Services
20th January 2021
Re/insurance broker Arthur J. Gallagher & Co. has announced the acquisition of San Diego-based multiline program manager and managing general agency Atlas. Founded in 2009 by Bill Trzos, Atlas offers workers compensation, commercial lines and specialty property programs nationwide, with expertise in the California workers compensation market. Mike Mathews, Charles Lasher and ... Read the full article
Liberty (LSM) launches terrorism coverage for SME sector in Germany
20th January 2021
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the launch of a new terrorism insurance coverage designed specifically for the SME sector in Germany. LSM entered the marketplace in 2018 as part of its strategy to extend its reach in Europe, and since then, business written ... Read the full article
Hiscox able to absorb COVID-19 BI losses: S&P
20th January 2021
Hiscox's capitalisation can absorb additional COVID-19 business interruption losses despite earnings impact, says global ratings agency S&P Global Ratings. S&P believes the Supreme Court's recent COVID-19 BI decision has further depressed Hiscox Group's earnings. The U.K.'s Financial Conduct Authority brought forward a test case to determine whether certain holders of business ... Read the full article
Integral ILS secures investment from New Holland Capital
20th January 2021
ILS fund manager Integral ILS has received a cornerstone investment from alternative investment manager New Holland Capital (NHC). With this announcement, Integral has secured $600 million of signed commitments for its new dedicated ILS strategy. Along with the seed investment, NHC will provide strategic support to Integral as it ramps up its ... Read the full article
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