Reinsurance News
Munich Re Ventures co-leads Series A for insurtech HDVI
12th August 2020
Next-generation commercial auto insurer High Definition Vehicle Insurance (HDVI) has raised $16 million in Series A funding led by Munich Re Ventures and 8VC. Founded in 2018, HDVI is focused on delivering new commercial insurance solutions that help small and mid-size trucking fleets improve their safety, compliance, and operations. The company provides ... Read the full article
Lockton Re adds Peter Wilkie to Specialty Division as a Broker
12th August 2020
Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker, has added Peter Wilkie to its Specialty Division as a Broker. Now reporting to Paul Upton, Wilkie was most recently Deputy Line Underwriter - War, Terrorism & Political Violence at Hiscox, having spent 13 years there, starting ... Read the full article
Sompo International names Head of Cyber for London Market
12th August 2020
Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has appointed Lauren Folkard as Vice President and Head of Cyber for the London Market. Folkard most recently served as a cyber class underwriter at Barbican, before which she was part of the cyber management team ... Read the full article
HDI Global Specialty SE Australia bolsters senior team with two new hires
12th August 2020
HDI Global Specialty SE Australia, the specialty lines insurer, has announced the appointments of Anja Dix-Eberhardt as Head of Risk and Compliance, and Nick Newton who joins as Head of Finance & Operations. Dix-Eberhardt moves from QBE Group where she held senior roles in both Risk Reporting & Systems and Enterprise ... Read the full article
Lloyd’s increases electronic placement targets
12th August 2020
Insurance and reinsurance marketplace Lloyd’s of London has decided to increase its targets for electronic placement submissions/quotes for the third and fourth quarters of the year. From July 1, the target for risks bound will remain at 80%, but the targets for submissions/quotes have been raised to 25% for Q3 and ... Read the full article
Talanx takes substantial H1 income hit off COVID-19
12th August 2020
The Talanx Group has posted a net income of €325 million for the first half of 2020, substantially impacted from COVID-19. Excluding the effects of the coronavirus, Talanx net income would in fact have been up substantially year-on-year, at €603 million. Gross written premiums rose by 5.5 percent in the first half ... Read the full article
Lemonade shrinks net loss in Q2, grows premiums
12th August 2020
Insurtech start-up Lemonade has released its results for the second quarter of 2020, reporting a 9% decrease in its net loss and a 115% increase for in force premiums (IFP). The firm posted a net loss of $21.0 million for Q2, compared with a net loss of $23.1 million for the ... Read the full article
Saudi Re announces reinsurance contract with Malath Insurance
12th August 2020
Saudi Arabia’s sole reinsurer, Saudi Reinsurance Company (Saudi Re), has announced the signing of a reinsurance contract with Malath Insurance Company. The contract was signed on behalf of the Saudi insurance industry, where they will provide reinsurance coverage on the Inherent Defects Coinsurance Program (IDI). The contract will be valid for five ... Read the full article
CNA Financial extends CEO contract
12th August 2020
Chicago based insurer, CNA Financial Corporation has announced an updated employment agreement with its Chairman & Chief Executive Officer, Dino Robusto. Robusto has been in his current position since December 2016 and CNA has agreed to extend his contract agreement until 2024. Under Robusto's leadership, CNA has developed an enduring underwriting culture which ... Read the full article
RGA reduces COVID-19 mortality claims estimate by $200mn
12th August 2020
Life reinsurer Reinsurance Group of America, Incorporated (RGA) has decreased its estimate of extra pre-tax mortality claim costs for the COVID-19 pandemic by approximately $200 million. In Q1, RGA provided an illustration of the potential impact of the pandemic on global mortality claims, based on a scenario that included 100,000 deaths ... Read the full article
Duck Creek Technologies hires chief strategy officer
12th August 2020
P&C insurance software provider Duck Creek Technologies has announced that Eva F. Huston from Neuberger Principal Holdings has been appointed as Chief Strategy Officer. Huston will be responsible for creating and executing on strategic initiatives designed to build value for the company, reporting to CEO Michael Jackowski whilst working closely with ... Read the full article
Insurdata appoints Mercer to Advisory Board
12th August 2020
Insurtech firm, Insurdata, has announced that Stuart Mercer has joined the company’s Advisory Board. Mercer’s career has spanned both the re/insurance and insurance-linked securities (ILS) sectors. He brings decades of experience and has previously served as CEO and Founder of Ventus Risk Management, a technology and analytics-focused provider of coastal property ... Read the full article
Global insured cat losses below average at $31bn in H1: Swiss Re
11th August 2020
Swiss Re Institute estimates that global insured catastrophe losses were $31 billion in the first half of 2020, up from $23 billion last year but well below the average H1 cost of $36 billion. Global economic losses from natural catastrophes and man-made disasters came to $75 billion in H1 2020, according ... Read the full article
SCOR partners with Verisk to help streamline US life underwriting process
11th August 2020
SCOR has partnered with Verisk, a leading data analytics provider, to develop a new tool designed to help life insurers fast track applications, by using data from consumer-authorized electronic health records (EHRs). The EHR Triage Engine streamlines the manual underwriting workflow – reducing decision time from weeks to minutes. The tool bypasses ... Read the full article
RMS updates HWind forecasting products
11th August 2020
Today, RMS announced significant updates to its suite of HWind forecasting products, which are part of the RMS HWind Real-Time Analysis solution. Launched in 2019, the first version of the HWind forecasting products for Atlantic tropical cyclones offered a product suite including an ensemble of forecast tracks, track and gust probability ... Read the full article
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