Reinsurance News
Clack joins Mosaic Insurance as Deputy Active Underwriter at Lloyd’s
4th May 2021
Mosaic, the global specialty insurance company recently launched by Ironshore executive Mitch Blaser, has announced the appointment of Danny Clack as Senior Vice President, Deputy Active Underwriter. He joins Mosaic's London team and will support Active Underwriter Charlie Mackey across all business lines through Mosaic Syndicate 1609, with a focus on ... Read the full article
WTW establishes framework to support climate transition plans
4th May 2021
Re/insurance broker Willis Towers Watson (WTW) has announced the launch of Climate Transition Pathways (CTP), an accreditation framework that helps insurers and financial institutions to identify which organisations have transition plans aligned with the Paris Agreement. The CTP governance committee will work with independent third-party groups including Volans, a consultancy responsible ... Read the full article
RAA promotes Scott Williamson to SVP
4th May 2021
The Reinsurance Association of America (RAA) has promoted Scott Williamson to Senior Vice President. Williamson is currently the Director of Analytics and is responsible for the Association’s interactive data models and analytics that quantify and communicate the impact of various state and federal regulatory and legislative proposals on the re/insurance industry. As ... Read the full article
Arthur J. Gallagher acquires Mutual Brokers
4th May 2021
Global insurance broker, Arthur J. Gallagher & Co. has acquired Canberra, Australian Capital Territory (ACT)-based Mutual Brokers. Mutual Brokers was founded in 1985 and is an independent broker serving a broad cross-section of commercial and small corporate clients in Canberra and the ACT. Its owners, Lou Pennetta and Adrian Dodd and the ... Read the full article
Tremor approved to redistribute AM Best ratings within Panorama
4th May 2021
Programmatic re/insurance risk transfer marketplace, Tremor Technologies, has been granted the rights to redistribute Best’s Credit Ratings as part of Panorama, its recently launched trading platform. The credit ratings by AM Best will be continuously updated within Panorama to provide critical ratings information to buyers of reinsurance protection using the ... Read the full article
United Fire Group announces $29mn Q1 cat hit
4th May 2021
US property and casualty insurer United Fire Group has announced an estimated $29 million pre-tax catastrophe loss for the first quarter of 2021. These above average catastrophe losses in the first quarter of 2021 were mainly attributable to winter storm Uri. As previously released as an estimate back in March, this catastrophic ... Read the full article
Ki updates Broker API platform whilst announcing strong Q1 results
4th May 2021
Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has released its new Broker API platform along with its strong first quarter results. Since it began trading at the beginning of this year, it has bound over 1,000 risks in the first quarter of this year and is on track ... Read the full article
PERILS releases third industry loss estimate for 2020 Queensland Hailstorms
4th May 2021
Zurich-based catastrophe insurance data provider PERILS is now anticipating a AU$1.173 billion industry hit from last October’s South East Queensland Hailstorms. During the afternoon of 31 October, severe thunderstorms impacted South East Queensland, including the surrounding areas of Brisbane, the Gold Coast and the Sunshine Coast. The corridor from Amberley through ... Read the full article
Eppolito takes over as President of Berkley Oil & Gas, Randall named Chair
4th May 2021
Linda Eppolito has been named as President of Berkley Oil & Gas, succeeding Carol Randall, who has taken on the role of Chairman of the operating unit, effective immediately. Eppolito joined W.R. Berkley's Oil & Gas division in July of 2010, most recently serving as its Chief Financial Officer (CFO). She brings ... Read the full article
SiriusPoint hires Darryl Siry as Chief Technology Officer
4th May 2021
SiriusPoint, the international specialty re/insurer recently formed via the merger of Sirius Group and Third Point Re, has appointed Darryl Siry as Chief Technology Officer. Siry will report to Prashanth Gangu, Chief Operating Officer and President of Insurance and Services, with his position taking place place effective immediately. He will be responsible ... Read the full article
Ascot hires W.R. Berkley’s Marina Barg as Chief Claims Officer, NA
4th May 2021
Ascot has announced the addition of Marina Barg, formerly of W.R. Berkley, as its new Chief Claims Officer for North America, reporting to Matt Kramer, Chief Executive Officer (CEO), Ascot U.S. In her new role, Barg will work closely with Ascot executives across Bermuda, U.S. insurance and Ethos Specialty operating units, ... Read the full article
CNA Financial reports net income of $312 million
4th May 2021
Chicago-based insurer CNA Financial Corporation has reported an improved net income of $312 million, a vast improvement to a net loss of $61 million in the prior year quarter. However the insurer reported a P&C combined ratio of 98.1% compared with 97.3% in the prior year quarter, this included 6.8 points ... Read the full article
Australia to launch $10bn cyclone reinsurance pool
4th May 2021
Australia's Federal Government has announced the establishment of a $10 billion reinsurance pool to underwrite cover for cyclone and cyclone-related flood for privately-owned homes, strata corporations and small businesses. The scheme will also see the government invest $40 million in making older strata buildings more resilient to extreme weather events. More than ... Read the full article
Enstar completes ADC reinsurance transaction with AXA XL
4th May 2021
A wholly owned subsidiary of Enstar Group Limited has completed an adverse development cover (ADC) transaction with AXA XL, the property & casualty and specialty risk division of AXA. Under the terms of the arrangement, Enstar's subsidiary assumed reinsurance losses incurred on or prior to December 31st, 2019, on a diversified ... Read the full article
Skyward Specialty to begin quoting health business
4th May 2021
Specialty property and casualty insurer Skyward Specialty Insurance Group has announced that it will begin to quote business to its select producer partners after stating its intention to enter into the Healthcare Professional Liability business. At launch, underwriting will focus on out-patient medical services centres such as dialysis centres, labs, and ... Read the full article
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