Reinsurance News
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
Conduit Re’s GWP in line with plan at 1/1; Lancashire’s Whelan joins as CFO
14th January 2021
Newly-launched property and casualty reinsurer Conduit Re has reported that it wrote gross premiums of $160 million at the January 1st, 2021 reinsurance renewals as pricing and terms and conditions fell in line with expectations. Highlights of the firm's 1/1 renewals includes GWP in line with plan and consisting of a ... Read the full article
SCOR integrates CyberCube model into cat platform
14th January 2021
Global reinsurer SCOR has integrated a CyberCube-developed cyber risk model into its own catastrophe modelling platform. By integrating CyberCube’s risk model alongside other natural catastrophe models within SCOR's CAT Platform, the reinsurer is aiming to further expand its modelling capabilities. The new architecture was made full operational for the Janurary 1 renewals. “In ... Read the full article
RenRe warns of Q4 operating loss amid $345mn weather & COVID impact
14th January 2021
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has reported that losses from weather-related catastrophe events and the ongoing COVID-19 pandemic will push the firm to a fourth-quarter operating loss. The reinsurer has announced that estimated losses from catastrophe events will have a net negative impact of roughly $170 million on its Q4 ... Read the full article
Chubb names Michael Kessler division president of cyber risk insurance
14th January 2021
Global re/insurer Chubb has announced the appointment of Michael Kessler as division president of its cyber risk insurance business. Currently serving as a vice president and chief reinsurance officer, Kessler will now oversee all facets of the business including strategy, product and business development, underwriting and service operations. He reports to Paul Krump, ... Read the full article
Despite further losses, the ARA’s CR strengthened in Q3: Aon
13th January 2021
In an improvement from the end of the second-quarter, Aon's Reinsurance Aggregate (ARA) reported a net combined ratio of 102.9% for the first nine months of 2020, amid losses from both the COVID-19 pandemic and natural catastrophe events. When compared with the end of Q2, the ARA's reported net combined ... Read the full article
HSCM hires SCOR’s Adrian Jones in InsurTech & re/insurance push
13th January 2021
Hudson Structured Capital Management Ltd. (HSCM), the insurance-linked securities (ILS), reinsurance and transportation-focused investment manager, has announced the appointment of Adrian Jones from SCOR as the firm looks to expand its InsurTech and global re/insurance groups. Jones has been hired as a Managing Director of HSCM and a Partner in the ... Read the full article
Munich Re Automation Solutions enters partnership with MetLife Gulf
13th January 2021
Munich Re Automation Solutions, a subsidiary of the global reinsurer, has entered a partnership with MetLife Gulf to allow the implementation of its ALLFINANZ solution. It's hoped that adopting ALLFINANZ will enable brokers, agents, and Bancassurance partners to provide a more streamlined service to their customers in Bahrain, Kuwait, Qatar, United Arab ... Read the full article
KCC releases US winter storm reference model
13th January 2021
Catastrophe risk modeller Karen Clark & Company has announced the release of its new US Winter Storm Reference Model. The model leverages a physics-based methodology to capture winter storm loss potential from snow and ice, freezing temperatures, and high winds. “Winter storms are challenging to model, both due to their meteorological complexity and ... Read the full article
Canopius Re secures class 4 reinsurer licence from BMA
13th January 2021
Canopius' Bermuda-based reinsurance company Canopius Re has secured a Class 4 Reinsurer licence from the Bermuda Monetary Authority. This reclassification makes it possible to significantly extend Canopius Re’s scope, enabling it to increase gross written premiums and write more third-party risks. Canopius Re is set to undergo a reorientation towards an initial ... Read the full article
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