Reinsurance News
Matt Newman takes chief strategy role at Apollo
13th April 2021
Apollo Syndicate Management, the independent specialist insurer and reinsurer, has announced the appointment of Matt Newman as Group Chief Strategy and Innovation Officer. Newman currently serves as Apollo’s Group Head of Casualty and Active Underwriter of Syndicate 1971, and will retain this role as he takes on his new responsibilities from ... Read the full article
Liberty Mutual Re names Peter Smith EVP, MD
13th April 2021
Liberty Mutual Re has named Peter Smith as Executive Vice President (EVP) and Managing Director, a newly-created position within the reinsurance underwriting company. Smith brings over 25 years’ experience to the role and will be based in London. He joined LSM in 2012 and was previously Executive Underwriting Officer. Before that he ... Read the full article
Commercial pricing close to peak levels: KBW
13th April 2021
Analysts at KBW believe that commercial insurance lines pricing has been “close to peak levels” during the first quarter of 2021, with plateauing and very modest deceleration expected as the year continues. This could entail slightly smaller rate increases that still remain above loss trends, KBW explained. Analysts added that specialty commercial ... Read the full article
Aon / WTW concessions include regional businesses, FinPro, cyber, aerospace: Reuters
13th April 2021
Global insurance and reinsurance broker Aon has reportedly offered to sell assets in a number of EU countries in order to gain EU antitrust approval for its proposed combination with Willis Towers Watson (WTW), according to Reuters. Reports at the end of March suggested that a remedy proposal for European ... Read the full article
Aon hires Jon Wiegand as Head of Power in UK Global Broking Centre
13th April 2021
Insurance and reinsurance broker Aon plc has appointed Jon Wiegand as Head of Power in the UK Global Broking Centre. He will report to James MacNeal, Managing Director of Construction and Power. Wiegand’s role will take place later this year, and is set to align with the development of Aon’s global Energy ... Read the full article
RSG makes several leadership changes
13th April 2021
International specialty insurance firm Ryan Specialty Group has made several leadership changes to its transportation offerings. RT Specialty, Ryan Specialty Group’s wholesale brokerage, has appointed Doug Hathaway as Head of its National Transportation Practice as well as its commercial transport program, Interstate Insurance Management. Dennis Beecher has also promoted to President of ... Read the full article
Timothy Markey takes Divisional VP role at Great American
13th April 2021
Great American Insurance Group has announced the promotion of Timothy E. Markey to Divisional Vice President within its Fidelity / Crime Division. Markey joined Great American in 2017 as a Divisional Assistant Vice President. Since then, he has assumed roles of increasing responsibility and was named Head of Claims for Fidelity / ... Read the full article
DNIR hires Abdulla Al Nuaimi as CEO
13th April 2021
Dubai National Insurance and Reinsurance (DNIR) has appointed Abdulla Al Nuaimi as Chief Executive Officer. Al Nuaimi has over 25 years of experience working in the government and private sectors. He has held numerous roles, including Director of Operations and International Cooperation at Etihad Credit Insurance. Prior to that, he served for nine ... Read the full article
Lloyd’s European CEO Rottiers to depart, Amélie Breitburd succeeds
12th April 2021
Lloyd’s of London has announced the departure of Sonja Rottiers from her role as European Chief Executive Officer, with Amélie Breitburd set to step into the position. Breitburd brings over 25 years’ experience in international insurance markets, having previously served at AXA, KPMG and Allianz. She'll be onboarded during the second quarter ... Read the full article
Watford wraps up Axeria acquisition
12th April 2021
Bermuda domiciled re/insurance company Watford has completed its purchase of French property and casualty insurer Axeria, having acquired 100% of the capital stock from the APRIL Group. The deal was first announced in December 2019, and will see Watford acquire a company with in-force gross written premiums of approximately €140 ... Read the full article
US weather drives $1bn+ industry loss in March: Aon
12th April 2021
Re/insurance broker Aon has estimated that insured catastrophe losses are likely to exceed $1 billion in March, following an active month for severe weather in the US. Weather outbreaks in the US included hail, flooding and a total of 122 tornadoes, which was the highest monthly count since 2017. Of these, ... Read the full article
Aon / WTW: Concessions show willingness to complete partial deal, say analysts
12th April 2021
In offering deal-related concessions to the European Commission, Aon and Willis Towers Watson have shown their “willingness to complete even a partial deal,” according to equity analysts at Keefe Bruyette & Woods (KBW). As we reported earlier this morning, the European Commission has restarted the clock on the Aon and ... Read the full article
Kathleen Faries to succeed Andre Perez as Horseshoe CEO
12th April 2021
ILS specialist and fund administrator Horseshoe has announced the appointment of Kathleen Faries as its next Chief Executive Officer. Faries will be based in Bermuda and work closely with Andre Perez, the founder and current CEO of Horseshoe who's set to transition to Executive Chairman. He'll look to help the business continue its ... Read the full article
Above-average activity, higher chance of landfalls forecast for 2021 Atlantic hurricane season
12th April 2021
Initial projections from forecasters suggests that the 2021 Atlantic hurricane season could be very active, while the chance of major hurricane landfalls occurring is also seen as above-average. The Atlantic hurricane season begins on June 1st and runs until the end of November. In 2020, the season witnessed an unprecedented 30 named ... Read the full article
Honan launches reinsurance broking unit, Honan Re
12th April 2021
Commercial broker Honan Insurance Group has announced the launch of Honan Re, a new unit that will offer facultative reinsurance solutions to the organisation’s insurance partners. Based in Singapore, Honan Re will commence operations this week, led by Honan Asia’s Managing Director Eliza White. Executive Chairman Damien Honan commented on the launch: ... Read the full article
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