Reinsurance News
HCI acquires personal lines business from United (UPC)
17th December 2020
Florida-based insurtech HCI Group has agreed to acquire personal lines insurance business in four northeastern US states from P&C insurer United Insurance Holdings Corp. (UPC). Under the agreement, HCI will provide 69.5% quota share reinsurance on all of United’s in-force, new and renewal policies in Connecticut, Massachusetts, New Jersey, and Rhode ... Read the full article
Charles Goldie takes CUO role at MS Amlin
17th December 2020
Global reinsurer MS Amlin has announced the appointment of Charles Goldie as its new Chief Underwriting Officer (CUO). Goldie most recently served as Chief Executive Officer (P&C) for PartnerRe, where he spent over 16 years. During his tenure at PartnerRe, he held a number of senior positions within the organisation, including Deputy ... Read the full article
KCC Flood Model certified by Florida Commission
17th December 2020
Karen Clark & Company’s (KCC) Flood Model has been certified by the Florida Commission on Hurricane Loss Projection Methodology, making it the first to be accepted by them. The KCC Flood Model covers coastal flooding from storm surge and ... Read the full article
Berkley North Pacific makes leadership hire
17th December 2020
Re/insurance holding company W.R Berkley has appointed Carrie Cheshier president of Berkley North Pacific. Cheshier has over 30 years of industry experience in leadership, distribution management, underwriting, operations and claims. She most recently served as a regional president for a Travelers, where she was with the company for over 20 years. She will ... Read the full article
COVID-induced premium drop hits P&C re/insurers: AM Best
17th December 2020
AM Best has reported a reduction in property and casualty (P&C) re/insurance premiums this year due to the COVID-19 pandemic. The drop in premiums runs counter to the overall industry trend, which had seen premium volume rise for most of the 33 P&C lines through to the end of 2019. But stay-at-home ... Read the full article
Global Atlantic in $8.5bn reinsurance deal with Unum
17th December 2020
Life and annuity re/insurance firm Global Atlantic has agreed to reinsure a portion of Unum Group's Closed Individual Disability Insurance Block (IDI) business through a coinsurance arrangement. The block of business in question is backed by $8.5 billion in assets and approximately $7.1 billion in reserves. Unum is a Fortune 500 insurance ... Read the full article
Coface extends reinsurance scheme with French government
17th December 2020
Credit insurer Coface is working with the French government to extend its CAP Relais reinsurance scheme until 30 June 2021. The programme covers the outstanding inter-company loans of French policyholders, on both their domestic and export markets. As part of this agreement, Coface will maintain the total amount of its outstanding loans. This ... Read the full article
MS Amlin adds Margot Cronin to non-exec board role
17th December 2020
Lloyd’s re/insurer MS Amlin Underwriting has appointed Margot Cronin to its board, effective from January 1. Cronin will join as a notified independent non-executive director and brings over 30 years’ experience to the role. She spent the last 18 years of her executive career with Aviva in several senior, group and regional ... Read the full article
Aon sets up special purpose acquisition team
17th December 2020
Re/insurance broker Aon has announced the formation of a new Special Purpose Acquisition Company (SPAC) task force. The leadership team behind the new task force will consist of Kristin Kraeger as national SPAC and IPO leader, Tim Fletcher as western region SPAC and IPO, Uri Dallal as eastern region SPAC and ... Read the full article
MNK Re adds Bragg, Zarate to international property team
17th December 2020
Specialty Lloyd’s broker MNK Re has added Adam Bragg and Andrea Zarate to its international property team. Bragg will serve as managing director of its international facultative property division and joins from Gallagher Specialty, where he was the head of their Latin American property team. Zarate joins from Lucy A. Raymond and will ... Read the full article
Lloyd’s underlines sustainability, inclusivity targets in ESG report
17th December 2020
Lloyd’s has detailed a number of Environmental, Social and Governance commitments it says will help integrate sustainability and inclusivity into the speciality re/insurancemarketplace’s business activities. Lloyd’s will create a cultural toolkit and set of regularly measured targets, including a phase one target of 35% female representation in leadership positions across the ... Read the full article
L&G agrees £1.1bn bulk annuity deal with Maersk
17th December 2020
Legal & General has agreed a £1.1 billion bulk annuity transaction with the Trustee of the Maersk Retirement Benefit Scheme. This deal secures the benefits of around 1,900 deferred members and 3,000 retirees. In recent years the Trustee has taken a number of steps to de-risk the Scheme including fully hedging its ... Read the full article
International Re adds Nate Reznicek as head of US distribution
17th December 2020
Specialist captive insurance and reinsurance MGU International Re has appointed Nate Reznicek as head of US distribution. Reznicek most recently served as Director of Operations at CIC Services, where he led the captive practice and serves on a number of industry boards and committees. Commenting on his appointment, Reznicek said, “I was immediately ... Read the full article
AXIS Insurance bolsters US E&S property team with four senior hires
17th December 2020
Specialty insurer AXIS Insurance has named four senior underwriters within its US Excess and Surplus Property team. Carey Prewitt, Quinn McAleenan, and Bryan Paterson have all joined AXIS as Vice Presidents, and Naomi Wiggins has joined as Assistant Vice President. They will be tasked with broadening relationships with distribution partners, expanding general ... Read the full article
Applied Underwriters forms new European FL enterprise
17th December 2020
Applied Underwriters has announced the formation of Applied Financial Lines, a new enterprise that will operate out of Paris and Cologne. It will underwrite for several specialty lines in the European Union and in the Middle East, including professional indemnity and Directors & Officers. Applied Financial Lines will work with a wholesale ... Read the full article
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