Reinsurance News
HDI Global SE hires Andrew Perry as Marine Underwriting Manager
20th April 2021
Primary commercial specialist HDI Global SE, Australia has appointed Andrew Perry to the newly created role of Marine Underwriting Manager, Western Region. Perry brings over twenty years of Marine underwriting experience and has served in senior roles at several well-known Marine insurers. His appointment will take place next month and will be ... Read the full article
Price Forbes launches digital General Aviation facility
20th April 2021
Independent insurance broker Price Forbes has launched a new digital General Aviation facility designed to quickly quote and bind risks with a leading Lloyd’s syndicate. This development within Price Forbes’ proprietary EDGE platform is expected to improve speed of service and placement for clients by delivering quotes in real time. EDGE is ... Read the full article
Miller extends partnership with Concirrus for Quest Marine platform
20th April 2021
Re/insurance broker Miller has extended its partnership with insurtech company Concirrus to continue to utilise its Quest Marine platform. The platform will provide Miller's brokers with information which can target client improvement efforts on the most critical factors affecting the portfolio. This can relate to vessel maintenance, organisational profile, or behaviour at ... Read the full article
Arch’s UK regional division announces two key senior promotions
20th April 2021
The UK regional division of Arch Insurance has promoted Vicky Rowlay to National Director - Business Transformation and Neil Peters to National Director - Branch Network, with immediate effect. Rowlay is set to focus on developing and implementing key business strategies as well as assuming responsibility for the company’s Regional Trading ... Read the full article
Travelers reports higher Q1 profit result despite $835m cat losses
20th April 2021
The Travelers Companies, Inc. has reported a year-on-year increase in net income to $733 million for Q1 2021, despite catastrophe losses, net of reinsurance, hitting $835 million. Up from $600 million in the prior year period, the increase was driven by higher core income, higher net favourable prior year reserve development ... Read the full article
Howden hires Felix Jenny to lead Swiss operation
20th April 2021
Insurance broker Howden has appointed Felix Jenny to lead its new retail operation in Switzerland, following last years acquisition of IRIA, the Geneva-headquartered specialist political risk and credit insurance broker. Howden Switzerland will form an important part of Howden’s European business, delivering local market expertise to the Group’s multinational client base ... Read the full article
Swiss Re joins auto tech firm Veoneer to further road safety solutions
20th April 2021
Global reinsurer Swiss Re is partnering with automotive technology specialist Veoneer on road safety solutions designed to help further the development of advanced driver assistance systems (ADAS) and related services. The partnership will see Veoneer enhance its ADAS tech using the insights and empirical knowledge Swiss Re has accumulated over years ... Read the full article
BHSI hires Brian Robb as SVP, Head of Cyber
20th April 2021
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett's global insurance and reinsurance company, has appointed Brian Robb as Senior Vice President, Head of Cyber/MPL/Tech. Robb comes to BHSI after just under 11 years at CNA Insurance, where his experience spanned both the underwriting and claims sides of the business. He was ... Read the full article
Aegon CTO Mark Bloom to step down in June
20th April 2021
Life Insurer and asset manager Aegon has announced that its Global Chief Technology Officer Mark Bloom is to depart the company on June 1 in pursuit of other opportunities. Bloom will have served in the role for over five years, leading Aegon's technology and innovation activities. He arrived at Aegon in 2016 as ... Read the full article
Munich Re forecasts major losses from winter storms, but also a profitable Q1
20th April 2021
Global reinsurer Munich Re has pre-warned that losses in its property / casualty reinsurance segment from major events came in above-average for the first-quarter of 2021, primarily as a result of the severe winter weather in the U.S. in February. The German reinsurer is the latest to comment on the significant ... Read the full article
Korean Re partners with healthcare insurtech Leapstack
20th April 2021
Seoul-based reinsurer Korean Re has partnered with Leapstack, an AI-powered insurtech that specialises in healthcare, to support Leapstack’s expansion into the Korean insurance market. Leapstack, which has already partnered with several of Korea’s largest insurers, aims to provide big data AI solutions for commercial insurance companies and social security management agencies. In ... Read the full article
Instability forecast for motor & home pricing until 2023: Pearson Ham
20th April 2021
Impending action by the FCA on pricing practices, combined with the post lockdown impact on claims, will herald a period of price fluctuation for motor and home lines as insurers adapt their business models to address issues such as ‘price walking’, according to analysts at Pearson Ham. Data from the firm’s ... Read the full article
Aon / WTW: Reports suggest expansion of divestment to the US needed
20th April 2021
As the saga surrounding the proposed combination of brokers Aon and Willis Towers Watson (WTW) continues, sources suggest that an expansion of the deals divestment package needs to include the U.S. to appease the Department of Justice (DoJ). The mega-merger of rival insurance and reinsurance brokers Aon and WTW has, unsurprisingly, ... Read the full article
Kin Insurance surpasses $100m in annual recurring premium
20th April 2021
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has surpassed $100 million in annual recurring premium. The milestone comes after only 21 months as a carrier, and with $52 million in equity funding. Notably, Kin’s growth has been achieved through a direct-to-consumer business model. This ... Read the full article
Everest Re announces $260m of Q1 2021 catastrophe losses
20th April 2021
Bermuda-based reinsurer, Everest Re Group, Ltd., has announced estimated pre-tax catastrophe losses, net of reinsurance and reinstatement premiums, of $260 million for the first-quarter of 2021. The firm’s Q1 cat loss bill primarily relates to the impacts of the Texas winter storms, alongside a minimal amount from the flooding in New ... Read the full article
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