Reinsurance News
Kevin Abramson named President at insurtech Cover Whale
7th June 2021
Commercial auto insurtech firm Cover Whale Insurance Solutions, Inc. has announced the appointment of Kevin Abramson as President. Abramson brings two decades of re/insurance industry experience, having led the casualty segment at TigerRisk Partners and held leadership positions at Willis Re North America. As a member of Cover Whale's leadership team, Abramson ... Read the full article
Zurich names new Head of Strategy, Innovation & Business Development, NA
7th June 2021
Global insurer Zurich has appointed Neeren Chauhan as Head of Strategy, Innovation & Business Development for Zurich North America. Chauhan joins Zurich after serving as Vice President, Distribution Transformation and Market Share Growth for Allstate Insurance Company. He brings over twenty years of global leadership experience across Asia, Europe, and North America. Chauhan ... Read the full article
Flood Re announces senior leadership appointments
7th June 2021
Flood Re, the UK’s government-backed reinsurance scheme, has announced the appointments of Andrea Santolalla as Director of Operations, Stuart Logue as Chief Financial Officer (CFO), and Emily White as Head of Catastrophe Modelling. Santolalla will oversee Claims and Underwriting, Operations, Outsourcing, and IT and Data functions. She was previously COO of Hiscox ... Read the full article
Tom Wakefield leaves Aon to become CEO of Gallagher Re
7th June 2021
Tom Wakefield, previously of Aon, has been announced as the new Chief Executive Officer (CEO) of Gallagher Re, the reinsurance arm of the global brokerage, subject to regulatory approval. Wakefield takes over as CEO of the reinsurance broker from Simon Behagg, who will transition to the role of Managing Director of ... Read the full article
Guy Carpenter forecasts above normal tropical cyclone activity
7th June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has published its annual briefing on the 2021 Western North Pacific Basic Tropical Cyclone season. According to the briefing, the number of tropical cyclones forecast to form between April 1 and September 30 is above normal. Near- to above-normal activity is consistent with ... Read the full article
Swiss Re Corporate Solutions names new Country Head Aus/NZ
7th June 2021
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has appointed Christine Bell as Country Head Australia & New Zealand. Bell will be based in Sydney, with her position taking place in August. She succeeds Melanie Slack who has taken up the position of Head UK, Ireland, SA & ... Read the full article
IFRS 17 to cost global insurance industry as much as $20bn: WTW
7th June 2021
The implementation of IFRS 17, the International Financial Reporting Standard that was issued by the International Accounting Standards Board, is estimated to cost the global insurance industry as much as $20 billion, according to a survey by Willis Towers Watson (WTW). The global insurance and reinsurance broker recently polled 312 carriers ... Read the full article
Canopius launches Vave platform as an MGA
7th June 2021
Specialty re/insurer Canopius Group has announced the launch of its algorithmic underwriting platform, Vave, as an MGA. Developed in-house, Vave began trading in May 2019, and has since quoted on over 1.2 million risks, representing $2.2 billion of premium. Vave MGA is forecast to exceed $100 million premium by the end of ... Read the full article
Collateralised reinsurers lead the way for Citizens 2021 renewal
7th June 2021
The largest slice of Florida’s Citizens Property Insurance Corporation's 2021 traditional reinsurance renewal went to providers of collateralised reinsurance, with these participants committing more limit than domestic and Bermuda reinsurers combined. For both the Coastal Account and Personal Lines Account segments of its $4.487 billion reinsurance tower, Citizens has secured a ... Read the full article
US P&C underwriting income down 53% in Q1: Fitch
7th June 2021
A new Fitch Ratings report has highlighted a 50% fall in first quarter net income within the US property/casualty space compared to the prior year quarter. Combined ratio, meanwhile, deteriorated from 95% to 96.4%, with catastrophe losses accounting for an estimated 6.9 points. This figure is up from 3.3 points seen in ... Read the full article
Brit creates new marine consortium
7th June 2021
Insurer and reinsurer Brit Ltd has created a new marine consortium named Keel, which has been launched to revolutionise the writing of Marine War and breach call risks. Keel offers up to $152.2m of capacity per risk and provides instant quotes that are fully sanctioned screened, which is an area of ... Read the full article
Crawford launches Japan desk in Thailand
7th June 2021
Crawford & Company, a provider of claims management solutions, has launched a new Japan desk in Bangkok, Thailand. Led by Tetsuya Fujita, the desk will provide a dedicated facility to support the growing presence of Japanese companies and their affiliates in the South East Asia region. Fujita is director of the company’s ... Read the full article
Validus Re promotes Wehmeyer to Exec VP, Head of Intl.
4th June 2021
Bermuda-based reinsurer Validus Re has promoted Sven Wehmeyer to serve as executive vice president, head of international. Reporting to Chief Executive Officer Chris Schaper, Wehmeyer succeeds Steve Bardill in the role, who retires later this year. Wehmeyer will maintain his current responsibilities for Validus Re's non-US property reinsurance and overseas offices. He has ... Read the full article
Greenlight Re Innovations invests in Paxafe
4th June 2021
Greenlight Re Innovations, a division of specialist hedge fund-backed property and casualty reinsurer Greenlight Capital Re, has invested in Paxafe, a supply-chain visibility and analytics platform focused on high value and perishable cargo. Historically, shippers and insurers have lacked certain basic insights into shipments’ location, condition, and custody, whereas this platform ... Read the full article
Ascot partnership to offer US builders risk insurance
4th June 2021
Bermuda-domiciled specialty re/insurer Ascot has formed a partnership with Highland Insurance Solutions to provide a builders risk insurance program for US projects. The partnership will provide Highland, a subsidiary of WNC Insurance Services, with additional capacity to underwrite frame and concrete construction projects on all risks policies. The solution will be available ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
