Reinsurance News
2021 to mark “generational transformation” for re/insurance: Conduit Re’s Carvey
14th April 2021
Trevor Carvey, Chief Executive Officer (CEO) and Chief Underwriting Officer (CUO) of newly launched P&C reinsurer Conduit Re, has said that he expects 2021 to mark a “generational transformation” in the way the re/insurance industry operates. “Conduit Re will be at the forefront of that change,” Carvey said as part of ... Read the full article
Hallmark plans IPO of specialty commercial business segment
14th April 2021
Specialty property and casualty (P&C) insurer, Hallmark Financial Services, has announced plans to pursue an initial public offering (IPO) of a non-controlling ownership stake within its specialty commercial business segment, under the name Hallmark Specialty Group, Inc. The number of shares of Hallmark Specialty Group to be offered and the price ... Read the full article
Chubb makes two senior leadership appointments
14th April 2021
Global re/insurer Chubb has announced two leadership appointments within its North America Accident and Health (A&H) business. Suresh Krishnan, Chubb's current Chief Operating Officer, North America Accident and Health, has been named Executive Vice President, Head of North America Specialty Accident and Health. In this expanded role, he will look to grow ... Read the full article
Liberty Specialty names Jane Warren as Active Underwriter
14th April 2021
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Jane Warren as Active Underwriter, effective immediately. Based in London, Warren reports to Phil Hobbs, Deputy Managing Director and Chief Underwriting Officer (CUO) for LSM. She brings over 20 years’ experience in the insurance industry, joining Liberty in 2019 from ... Read the full article
Ascot Bermuda joins Ed’s TradEd
14th April 2021
Reinsurance broker Ed has announced that Ascot Bermuda has joined its etrading platform TradEd. The portal was launched in April last year and enables its carriers to view submissions and associated risk details, as well as make queries, see material information updates in real time and edit deal documents online. Chris Bonard, ... Read the full article
Hippo adds Munich Re’s Laura Hoensch to Spinnaker leadership
14th April 2021
California-headquartered, homeowners focused-insurtech Hippo has recruited Laura Hoensch as the new General Counsel for Spinnaker Insurance Company, which was acquired by Hippo last year. Hoensch most recently served as General Counsel, Chief Compliance Officer and Head of Government and Regulatory Affairs for Digital Partners, a Munich Re company. At the same time, ... Read the full article
BMS launches new analytics platform
14th April 2021
Re/insurance broker BMS has launched Pathlight Analytics, an analytics platform which works across both insurance and reinsurance. The platform has been designed to assist clients with examining, analysing and interpreting data as it pertains to their specific capital and risk transfer goals and objectives. Pathlight Analytics is part of a strategic build-out ... Read the full article
P&C industry remains stable despite challenges from COVID-19: Fitch
14th April 2021
Analysts at Fitch Ratings have released a report which shows that the P&C industry remains stable, despite the considerable economic challenges from the ongoing coronavirus pandemic. Last year the US P&C industry faced many operating challenges from COVID-19, which resulted in vast changes in the workplace and economic environment as well ... Read the full article
Praedicat launches Lloyd’s-focused liability analysis platform
14th April 2021
Emerging risk analytics company Praedicat has announced the launch of its new Risk Scenario Analysis Platform. Praedicat says the platform is designed to widen the cross-line clash scope of its scenario suite, as well as make it easier for syndicates at Lloyd’s to produce compliant reports on the six recently-created liability ... Read the full article
Charles Taylor acquires Syndicate Claim Services
14th April 2021
Charles Taylor, a provider of insurance services, claims solutions and technology platforms to the global insurance market, has acquired Syndicate Claim Services, Inc., an independent adjusting and claims services business, based in Indianapolis, Indiana. Founded in 2006, Syndicate provides tailored claims services and appraisal, umpire, dispute resolution, and litigation support services ... Read the full article
ICA declares tropical cyclone Seroj an insurance catastrophe
14th April 2021
The Insurance Council of Australia (ICA) has officially declared Tropical Cyclone Seroj an insurance catastrophe. Seroj impacted parts of Western Australia after making landfall late Sunday April 11. The ICA says the coastal town of Kalbarri took the brunt of the tropical cyclone, as did the community of Northampton. The ICA’s Catastrophe declaration ... Read the full article
BI test case pay-outs at £600m, but major insurers still lagging: FCA
14th April 2021
New data from the Financial Conduct Authority (FCA) shows that to date £600 million has been paid out for claims related to the COVID-19 business interruption (BI) test case in the UK. This represents an increase of 25.5% from the £478 million in pay-outs that the FCA recorded roughly one ... Read the full article
AXA partners with Microsoft to build digital healthcare platform
14th April 2021
Global insurer AXA is collaborating with Microsoft to build a digital healthcare platform, which will allow virtual healthcare to all AXA customers. The new platform will rely on the extensive portfolio of technology in the Microsoft Cloud for Healthcare, including Azure API for FHIR (Fast Healthcare Interoperability Resources), that enables patient ... Read the full article
Captive insurance thriving in hard market: Swiss Re
14th April 2021
Analysts at Swiss Re Institute have reported that companies are increasingly using captive insurance to self-insure their risks, as rate hardening and COVID-19 disruption affect commercial insurance. According to new research, captive insurer use is expanding to Asia and Latin America, and to mid-sized companies, for which new business models for ... Read the full article
Aon / WTW EC remedy doesn’t address needs outside Europe: Report
14th April 2021
Divestment proposals reportedly offered by Aon to the European Commission (EC), designed to secure EU antitrust approval for its proposed merger with Willis Towers Watson (WTW), do not address competition concerns elsewhere in the world. As a result, the insurance and reinsurance broker could be forced to come up with other ... Read the full article
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