Reinsurance News
Geo finalises acquisition of Robus
4th December 2020
Geo Underwriting has announced the completion of its acquisition of Robus, an insurance management, fiduciary and financial advisory group. Robus provides insurance management, protected cell company and captive management, actuarial and ILS services with operations in Guernsey, Gibraltar and Malta. Following the acquisition, the company will continue to operate independently under the ... Read the full article
R&Q announces $107.75m Subordinated Notes issuance
4th December 2020
Program management and legacy specialist, Randall & Quilter Investment Holdings Ltd. (R&Q), has announced an agreement to issue 13-year unsecured subordinated Tier 2 notes in an amount of USD 107.75 million. R&Q states that it plans to use the proceeds of this issuance to support continued growth in its Program Management ... Read the full article
RenRe announces Shannon Lowry Bender as new Group General Counsel
4th December 2020
Bermuda-based reinsurance company, RenaissanceRe Holdings Ltd., has announced that from January 1st, 2021, Shannon Lowry Bender will assume the role of Senior Vice President (SVP), Group General Counsel and Corporate Secretary. Bender takes over from Stephen Weinstein, Executive Vice President (EVP), Group General Counsel, Corporate Secretary and Chief Compliance Officer, who ... Read the full article
Life insurers seeking new solutions to build on performance: WTW
4th December 2020
New research from re/insurance broker Willis Tower Watson (WTW) reveals that life insurers are seeking new solutions in order to build on their business performance whilst boosting customer relations in an already highly competitive market. WTW surveyed 39 life insurers, including major multinationals, based in nine countries from across Europe. It showed ... Read the full article
Lockton Re names Foreman as Head of Non-Marine Retro & Property Specialty
4th December 2020
Reinsurance brokerage Lockton Re has announced the addition of Matt Foreman as Head of its Non-Marine Retrocession and Property Specialty Division in London. He joins the company from the Global ReSpecialty unit of Aon's Reinsurance Solutions, where he served as Head of London Market, Non-Marine. Keith Harrison, International Chief Executive Officer (CEO), ... Read the full article
AJ Gallagher acquires marine broker North Star
4th December 2020
International insurance brokerage firm Arthur J. Gallagher has acquired Seattle-based North Star Insurance Services and Fairhaven, Mass.-based North Star Marine Insurance Services. North Star Insurance Services was first founded in 2001 and is a full-service marine insurance broker serving clients throughout the US. Its portfolio covers the majority of the marine industry, ... Read the full article
AEGIS targets 27% underwriting growth in 2021
4th December 2020
Lloyd’s managing agency AEGIS London has announced that it plans to target a 27% increase in underwriting over the course of 2021. The business has confirmed that, on a gross premium basis, its capacity is expected to rise from £712 million in 2020 to £918 million in the new underwriting year. It’s ... Read the full article
The Geneva Association makes two senior hires
4th December 2020
The Geneva Association has appointed two new senior staff members to focus on liability risks and its engagement with China. Darren Pain has been appointed as Director Evolving Liability, where he is to lead the Evolving Liability research programme. Previously, he led the research for the Swiss Re Institute and has held ... Read the full article
P&C firms covered cost of capital despite 2020 challenges: analysts
3rd December 2020
Despite 2020 having proved itself a challenging year to date for the re/insurance industry, analysts at investment banking firm Stonybrook Capital say most US property and casualty firms managed to cover their cost of capital. The S&P 500 returned 18.1% over the 12 months through November 13, while bonds did well. However, ... Read the full article
Aon launches new digital cyber offering
3rd December 2020
Re/insurance broker Aon has announced the launch of a new digital insurance solution for small and middle market businesses. This digital solution is designed for any business generating up to $100 million in annual revenue across sectors including retail, technology, professional services and manufacturing. The offering builds on other insurance products that ... Read the full article
Aidan Pope named Exec Chairman of BMS’ LatAm & Caribbean operation
3rd December 2020
Specialist insurance and reinsurance broker, BMS Group, has announced the hiring of Aidan Pope as Executive Chairman of its Latin American and Caribbean operation, effective January 1st, 2021. In his new role, Pope will focus on expanding the broker's operations in the regions and further growing its client base and business ... Read the full article
Arcus handed lifeline with ERS takeover
3rd December 2020
Arcus syndicate 1856 has narrowly avoided being placed into run-off after specialist motor insurer ERS announced it would back the operation, taking over from Credit Suisse ILS. Credit Suisse has reportedly been seeking new management for Arcus after failing to meet the returns required by its ILS fund management operations in ... Read the full article
Ballantyne Brokers announces launch
3rd December 2020
Ballantyne Brokers Ltd, a new independent Lloyd’s broker founded by London market veterans Ross Ballantyne and Richard Spragg, has started business. Backed by investments from K2 Insurance Services, Ballantyne’s leadership team also includes former Aon Benfield Chairman and Aon UK COO David Ledger, who is to be appointed Non-Executive Chairman. The newly-launched ... Read the full article
Hendrick & Iordanou’s new re/insurer Vantage launches
3rd December 2020
New insurance and reinsurance business, Vantage Group Holdings Ltd., led by industry veterans Dinos Iordanou as Non-Executive Chairman and Greg Hendrick as Chief Executive Officer (CEO), has announced its launch. At the same time, the company has announced the launch of its wholly owned re/insurance subsidiary, Vantage Risk Ltd., a provider ... Read the full article
2021 outlook for US life insurance remains negative: Moody’s
3rd December 2020
Moody's Investors Service released its annual report which shows the 2021 outlook for US life insurance remains negative. Due to the current macroeconomic conditions, the outlook is likely to continue into next year despite the gradual recovery of the global economy. Companies are still exposed to potential deterioration in the credit markets ... Read the full article
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