Reinsurance News
Prospero Re gains BMA approval to write traditional reinsurance
3rd December 2020
Prospero Re Ltd., a reinsurance company wholly owned by ILS Capital Management, has received Bermuda Monetary Authority (BMA) approval of its new business plan, which allows it to write both traditional and collateralized reinsurance contracts. Under the amended business plan, Prospero Re retains the benefits of the collateralized reinsurance model while ... Read the full article
Papachristou takes Gibraltar CEO role at Qatar Re
3rd December 2020
Qatar Reinsurance Company Limited (Qatar Re), the global multi-line reinsurer and subsidiary of QIC Global, has announced the appointment of Dimitris Papachristou as CEO of its Gibraltar companies, effective immediately. In this role, Papachristou will oversee the operations of Zenith Insurance Plc, Markerstudy Insurance Company Limited, and St Julians Insurance Company ... Read the full article
Core Specialty named carrier for AmWINS’ (APU) Long-Term Care Facilities program
3rd December 2020
Recently launched specialty insurance carrier, Core Specialty Insurance Holdings, Inc., has partnered with AmWINS Program Underwriters (APU) to provide insurance solutions for APU's Long-Term Care Facilities program, effective January 1st, 2021. The Long-Term Care Facilities program's primary lines of business are professional and general liability, primary and excess. An announcement on the ... Read the full article
Hardening market sees Fitch turn stable on global reinsurance
3rd December 2020
The current hardening environment and rising prices, coupled with stabilising losses related to the ongoing COVID-19 pandemic, has led Fitch Ratings to revise its sector outlook for global reinsurance in 2021 to stable. After turning negative on the segment back in March, the ratings agency maintained its negative outlook for ... Read the full article
Canopius partners with Akur8 to enhance pricing process
3rd December 2020
Global specialty insurer and reinsurer, Canopius, has entered into a new partnership with InsurTech Akur8, designed to enhance its digital products' pricing process via the use of Artificial Intelligence (AI). Singed in November 2020, the deal sees Akur8 seal its first partnership in the UK, with a leading Lloyd's of London ... Read the full article
Marcus Taylor joins Aon’s Global ReSpecialty division
3rd December 2020
Marcus Taylor has joined the Global ReSpecialty division of global broker Aon's Reinsurance Solutions arm, focusing on Non-Marine and Specialty business, effective December 2nd, 2020. As part of the Global ReSpecialty team, which has a focus on large reinsurance and retrocession deals, Taylor reports to Richard Wheeler, Divisional Director for Non-Marine ... Read the full article
Inigo obtains Lloyd’s approval ahead of 1/1; hires Stratts to lead First Party
3rd December 2020
New specialty insurer and reinsurer, Inigo Limited, has now received approval in principle from the Corporation of Lloyd's and will start writing business for 2021, the company has confirmed. The news comes weeks after the new London insurance group confirmed the successful raising of $800 million in start-up capital from ... Read the full article
ILS market remains resilient: WTW
3rd December 2020
Insurance and reinsurance broker, Willis Tower Watson (WTW), has released a new report that shows the insurance-linked securities (ILS) market remains resilient, despite the COVID-19 pandemic. The broker's Global Insurance-Linked Securities Market Survey Report states that 86% of ILS funds expect market growth of 5% or more cumulatively during the next ... Read the full article
Guy Carpenter names Aon’s Shephard as Head of GC Access, International
3rd December 2020
Reinsurance broker Guy Carpenter has appointed Miles Shephard, formerly of Aon, as Managing Director and Head of GC Access, International, effective October 2021. GC Access is the reinsurance broker's dedicated program business unit, focused solely on the development of fully optimised program solutions that connect MGAs and carriers. In his new role, ... Read the full article
Insurance broker Howden launches Reykjavik branch
3rd December 2020
Howden Broking has become the first international insurance broker to open a branch in Iceland, with the launch of a new office in the country's capital, Reykjavik, Through its operations in Finland, Howden has worked closely with clients in Iceland for a number of years. The new office in Reykjavik will deliver ... Read the full article
Chubb hires SVP for Overseas General Insurance
3rd December 2020
Global re/insurer Chubb has appointed Gabriel Lazaro as Senior Vice President, Digital Head for Overseas General Insurance. In this new role, Lazaro will have responsibility for digital insurance product distribution and sales efforts in countries and territories outside North America, working with Chubb's digital teams around the world. He will report to ... Read the full article
Turker Re enters alternative capital market with Turkey quake product
3rd December 2020
Lloyd’s broker Turker Re has set up a new Capital Solutions unit to tap into the alternative capital market, starting with a new industry loss warranty (ILW) product for earthquake risk in Turkey. Using its established presence in the Turkish marketplace, Turker Re is hoping to take a lead role in ... Read the full article
UnderwriteMe names Head of Asia-Pacific
3rd December 2020
Insurtech firm UnderwriteMe has announced the appointment of Paul Hughes to the newly created role of Head of Asia-Pacific. He will be responsible for leading the UnderwriteMe teams in Asia and Australia across all functions. Hughes’ remit includes designing and implementing a strategy for the Asia-Pacific region designed to deliver growth over ... Read the full article
Swiss Re urges more detailed public financial reporting
2nd December 2020
A new report by Swiss Re Institute has called for countries to provide a more detailed picture of their ‘net worth’ that would give investors, including re/insurers, more visibility into their fiscal capacity and resilience. According to the report, integrated public financial reporting that includes insights on national assets and liabilities ... Read the full article
Lockton recruits Aon trio to M&A team
2nd December 2020
Insurance broker Lockton has announced the addition of three transaction liability advisors, who have joined the firm from Aon to lead its mergers and acquisitions (M&A) consulting offering. Joshua Halpern, Gaurav Sud and Eric Ziff are expected to significantly bolster Lockton’s M&A advisory and brokerage capabilities concerning the placement of representations ... Read the full article
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