Reinsurance News
Charles Taylor announces Aegis acquisition
6th January 2021
Technology solutions provider Charles Taylor has acquired Wisconsin-based mutual management and third-party claims administrator, Aegis Corporation. Aegis provides both risk pools and self-insureds with bespoke insurance and claims management programs focused on the needs of public entities and municipal organisations. At its Brookfield, Wisconsin headquarters, some 45 employees oversee insurance programs and ... Read the full article
MS Amlin Insurance names Herbert Baeten as CUO for P/C
6th January 2021
MS Amlin Insurance SE has named Herbert Baeten as Chief Underwriting Officer (CUO) for its Property and Casualty (P/C) business lines, subject to regulatory approvals. This announcement comes after the decision of Rudy Benmeridja to retire at the end of 2020. Baeten will assume his new role from the start of February ... Read the full article
DARAG announces reinsurance agreement with US retailer
6th January 2021
Legacy acquirer DARAG has completed a transaction with a major US retailer to provide finality to its legacy workers compensation liabilities. The transaction was conducted through one of DARAG North America’s insurance entities. Tom Booth, Chief Executive Officer of DARAG, said the transaction demonstrates DARAG’s ambitions in the US market and how ... Read the full article
UK risk settlement market to continue thriving in 2021: Aon
6th January 2021
Analysts at Aon believe the UK risk settlement market will continue to thrive in 2021, with growth dependent on the number of larger transactions and on the speed at which the market for commercial consolidation develops. The broker noted that activity in the settlement market during 2020 was defined by the ... Read the full article
IAG completes $10bn catastrophe reinsurance renewal
6th January 2021
Australian insurer IAG has completed its 2021 catastrophe reinsurance program, maintaining its gross protection cover at up to $10 billion, with IAG retaining the first $250 million of each loss. Both the level of gross protection and retention of each loss are the same as the insurer's 2020 catastrophe reinsurance program. IAG ... Read the full article
AXA XL appoints AIG’s Jason Hawkins to manage regional D&O business
6th January 2021
AXA XL, the property & casualty and specialty risk division of global re/insurer AXA, has announced the addition of Jason Hawkins as Senior Vice President, Regional Head of Professional in New York, effective January 1st, 2021. Hawkins has joined the company to lead its regional D&O operation, working closely with both ... Read the full article
Accelerant expands into US market
6th January 2021
Underwriting group Accelerant Holdings has expanded into the US market, with AM Best re-affirming the groups A- (Excellent) rating. The group rating is inclusive of both its existing Malta-based carrier, Accelerant Insurance Limited, as well as its newly established carriers in Belgium, Accelerant Insurance Europe Limited, and Arkansas, Accelerant Specialty Insurance ... Read the full article
Markel Surety expands into National Accounts
6th January 2021
Markel Surety, a part of Markel Corporation's specialty division, has announced the establishment of a National Accounts segment. Michael Bond, who joined Markel on December 31, will lead the new unit. He previously served as the US head of surety for both Euler Hermes and Zurich Surety. The target market for the National ... Read the full article
2020 a benign year for international cat losses: CRESTA
5th January 2021
CRESTA, the re/insurance industry organisation that provides a standard global system of risk accumulation zones, has reported that 2020 represented a “very benign year” for major catastrophe losses outside of the US. CRESTA’s industry loss index, CLIX, shows that five catastrophe events outside the US generated re/insurance industry losses in excess ... Read the full article
TigerRisk names Aon’s Glyn Ridpath as Partner in Casualty division
5th January 2021
Insurance and reinsurance brokerage, TigerRisk Partners, has today announced the appointment of Glyn Ridpath as a Partner within the firm's expanding Casualty division, reporting to James Few, Chief Executive Officer (CEO), TigerRisk UK. Ridpath joins TigerRisk from rival broker Aon, where he most recently served as a Managing Director from March ... Read the full article
James O’Connor named CEO of DUAL North America
5th January 2021
DUAL, the underwriting arm of Howden Group Holdings, has announced the appointment of James O’Connor as CEO of DUAL North America. With immediate effect, he will become a member of DUAL’s Group Executive Committee, reporting to Richard Clapham, CEO, DUAL Group. O’Connor joins DUAL Group from Willis Towers Watson where he was ... Read the full article
Ascot appoints AXA XL’s Michael Kerrigan as Group CIO
5th January 2021
Bermuda-domiciled specialty insurer and reinsurer, Ascot, has hired Michael Kerrigan as Group Chief Information Officer (CIO), based in New York and reporting to Yvonne Costello, Group Chief Operating Officer (COO). In his new role, Kerrigan takes on responsibility for all aspects of Ascot's technology portfolio and will be tasked with progressing ... Read the full article
Ample capital levels moderated price increases at Jan 1: Guy Carpenter
5th January 2021
With reinsurers eager to deploy capacity in various sectors and capital levels high at the important January 1st, 2021 reinsurance renewals, price increases were more moderate than initial expectations, according to Guy Carpenter, the reinsurance broking arm of Marsh. On the back of a prolonged soft market state, the lower for ... Read the full article
Lloyd’s to close underwriting room again
5th January 2021
Insurance and reinsurance marketplace Lloyd’s of London has announced that its underwriting room will be closed once again following the introduction of new lockdown measures in the UK this week. The UK Government re-introduced lockdown restrictions yesterday in a bid to control the more infectious COVID-19 variant that has spread in ... Read the full article
Nexus develops reinsurance deal for Turkey’s Koru Sigorta
5th January 2021
Independent specialty MGA Nexus Group has announced that its Labuan, Malaysia-based subsidiary, Nexus Structured Solutions, has developed a 10-year structured reinsurance deal for Turkish insurer Koru Sigorta Anonim Şirketi (Koru Sigorta). The deal covers Koru Sigorta’s Motor Third Party Liability (MTPL) book of business with capacity provided by an ‘AA-‘ rated ... 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.
