Reinsurance News
Aspen names William Miller its Chief Actuarial Officer
26th May 2021
Aspen Insurance has added William Miller as its new Group Chief Actuarial Officer, effective July 1. Prior to this he spent 12 years at Chubb legacy ACE, where he was latterly Chief Actuary for its Risk Management & Foreign Casualty divisions. Miller's actuarial career spans 35 years within the non-life sector and ... Read the full article
BMS launches operations in Turkey
26th May 2021
BMS, the independent specialist insurance and reinsurance broker, has announced the establishment of BMS Sigorta ve Reasürans Brokerliği A.Ş (BMS Turkey), a new unit headquartered in Istanbul. Chairman Servet Gurkan, together with Tamer Saka and Kerim Gurkan, will lead the new operation which will report in London to Peregrine Towneley, Chairman ... Read the full article
Aviva’s Colm Holmes to succeed Dye as Allianz UK CEO
26th May 2021
Allianz Holdings plc, the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain, has announced the appointment of Colm Holmes as its next Chief Executive Officer (CEO). Holmes, who currently serves as CEO of Aviva General Insurance, will take over the role from outgoing CEO ... Read the full article
Industry expecting Tokyo Olympics cancellation as pressure mounts
26th May 2021
Few could have foreseen the drama and controversy that awaited Japan after its Olympic ambitions were ignited by a 2013 bid successful in fending off competition from Spain and Turkey. We're just two months out from its already-postponed start date and the feeling among our extensive re/insurance industry contact base is ... Read the full article
Peak Re names Matteo Cussigh as CEO of Swiss unit
26th May 2021
Peak Reinsurance Company (Peak Re) has promoted Matteo Cussigh to the role of Chief Executive Officer (CEO) for its Zurich-based subsidiary, Peak Reinsurance AG (Peak Re AG) and Head of Marketing & Production, Europe, Peak Re. Cussigh brings over 20 years of experience in both traditional reinsurance and alternative risk solutions ... Read the full article
Reinsurance rate growth to boost run-off market: KBW
26th May 2021
According to reports from Keefe, Bruyette & Woods (KBW), industry executives are optimistic about the prospects for the run-off reinsurance market, which they say should benefit from rising pricing trends. KBW recently hosted a series of meetings with Florida and Bermuda re/insurance executives about their outlook on various sectors of the ... Read the full article
Generali opens new representative office in Brussels
26th May 2021
Generali has opened a new representative office in Brussels to study the activities of European institutions and strengthen the EU public affairs activities whilst contributing to sustainable recovery and the European Green Deal. The Italian insurer launched a € 3.5 billion plan which will be delivered through a range of funds ... Read the full article
P&C insurers struggling to keep pace with customer expectations, says J.D. Power
25th May 2021
A survey conducted by J.D. Power has shown that overall customer satisfaction with insurers’ digital offerings hasn’t improved this year, despite industry-wide improvements in best-practice competency. With an increasing amount of property and casualty (P&C) insurance customers, followed by the migration to more digital channels during the past year, expectations for ... Read the full article
Pro Global hires Lorraine Mojica as US Head of Audit
25th May 2021
Re/insurance solutions provider, Pro Global Holdings has appointed Lorraine Mojica as its new US Head of Audit. Prior to this appointment, Mojica was Assistant Vice President at Northshore International Insurance Services and brings over 20 years of industry experience. Throughout her career, Mojica has delivered technical insurance consulting services, operational reviews of ... Read the full article
Vermont Governor signs update to insurance legislation
25th May 2021
Vermont Governor, Phil Scott, has recently signed a new legislation making changes within its insurance and captive insurance statutes to help minimise the number of items before the legislature. The bill makes several updates to Vermont’s captive law, including clarifying the ability for a cell to convert to another type of ... Read the full article
Premiums for standalone cyber policies grew over 28% in 2020: AM Best
25th May 2021
According to a new report by rating agency AM Best, the ransomware attack on US energy firm Colonial Pipeline has impacted the cyber insurance segment, with premiums for standalone cyber policies growing beyond 28% in 2020. The report highlighted that the higher rate of growth for standalone policies gives an indication ... Read the full article
Euler Hermes makes key changes within its Board of Management
25th May 2021
Trade credit insurer Euler Hermes group, has announced key changes within its Board of Management and Regional Management teams. Michele Pignotti, a member of the Group Board of Management who’s in charge of Market Management, Commercial and Distribution, will be leaving the company in June to pursue new challenges within Solunion ... Read the full article
Protective Life appoints Michael Morrissey as Chairman
25th May 2021
Protective Life Corporation, a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc., has announced the appointment of Michael J. Morrissey as Chairman of its Board of Directors. Morrissey has served on Protective’s Board of Directors since May 2020 and previously served as President and Chief Executive Officer of the International ... Read the full article
US insurance industry reports $7.5tn in cash and invested assets: NAIC
25th May 2021
According to a National Association of Insurance Commissioners (NAIC), the US insurance industry reported a total of $7.5 trillion in total cash and invested assets at the end of last year, showing an increase of 7.7% compared to 2019. The NAIC report also noted that cash and invested assets have grown ... Read the full article
AGCS welcomes Zurich’s Carol Laufer to lead NA liability
25th May 2021
Allianz Global Corporate & Specialty (AGCS) has announced two appointments within its North America Executive Management Team (EMT), including new Regional Head of Liability Carol Laufer. Laufer replaces Dieter Hautzer, who is due to retire following a 30-year career with the firm. She joins from Zurich North America having served as US ... Read the full article
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