Reinsurance News
CoreLogic shareholders elect three Senator and Cannae nominees to board
18th November 2020
Property information and analytics provider, CoreLogic, has said that based on a preliminary vote count by its proxy solicitor, it believes that shareholders have voted not to replace nine of its 12 current directors, following pressures from Senator Investment Group LP and Cannae Holdings Inc. Back in July, the two ... Read the full article
Speciality insurer Inigo set to launch at Lloyd’s following StarStone acquisition
18th November 2020
Speciality insurer Inigo is set to launch at Lloyd's of London following the acquisition of Enstar and Stone Point Capital's managing agency StarStone Underwriting (SUL), along with the right to operate Syndicate 1301. Enstar, Stone Point and venture capital firm Dowling will receive $30 million from the sale of SUL in the form ... Read the full article
Artex hires Adrian Lynch as EVP, North America
18th November 2020
Artex Risk Solutions has announced that Adrian Lynch will be joining the company as Executive Vice President, North America, in March 2021. In this newly expanded role, he will be responsible for the oversight and growth of the company's captive management offices across the US, Bermuda and the Cayman Islands. Lynch is ... Read the full article
Insurtech Highwing secures $4mn in seed funding
18th November 2020
Denver-based insurtech company Highwing has secured $4million in a seed funding round co-led by BrokerTech Ventures, a specialist platform provider for the broking market. Highwing was founded to provide an open exchange ecosystem for the benefit of the insurance industry value-chain. The company intends to use the $4 million to expand its ... Read the full article
Investors favouring established re/insurers post-COVID: Cohen & Co’s Butler
17th November 2020
There is a feeling from investors that supporting well known and established re/insurance franchises benefitting from significant rate improvements makes very good sense in a post-COVID environment, according to John Butler, Managing Director, Cohen & Company. Day three of Prospectus 2021 – a new annual re/insurance and insurance-linked securities (ILS) conference, ... Read the full article
Swiss Re appoints Agis Kitsikis as Head of Client Markets
17th November 2020
Global reinsurer Swiss Re has announced the appointment of Agis Kitsikis as Head of Client Markets P&C for Canada and English Caribbean. Kitsikis’ role will start immediately and he succeeds Stefan Behr, who recently accepted the position as Swiss Re's Head of Business Development for EMEA. In his role Kitsikis will lead ... Read the full article
Convex secures additional $1bn of committed capital
17th November 2020
International speciality insurer and reinsurer Convex has secured commitments for an additional $1 billion of equity capital. Convex has now raised $2.7 billion in the 18 months since its launch. Initial capital was raised from the Convex management team, Onex Partners V, Onex Corporation’s large-cap private equity fund, and a consortium of ... Read the full article
Lane Clark & Peacock adds Laura Hobern to insurance consulting practice
17th November 2020
Pensions, investment and insurance consultancy firm Lane Clark & Peacock has appointed Laura Hobern as a Principal within its insurance practice. Hobern joins in December from consultancy Milliman, where she was a senior actuary. Hobern’s role will include both client advisory work and business development and brings in-depth knowledge of IFRS17, having led Milliman’s UK ... Read the full article
Insurers need to take on more cyber risk to grow the market: Johansmeyer, PCS
17th November 2020
While it might well be true that there's too much cyber risk out there in the world for the re/insurance industry to handle, insurers need to be willing to assume more risk to help the market grow, says Tom Johansmeyer, Head of Property Claim Services (PCS), part of Verisk. The cyber ... Read the full article
Capco appoints Somnath Ghosh as Partner, UK Insurance
17th November 2020
Capco, a management and technology consultancy focused on the financial services industry, has announced the appointment of Somnath Ghosh as Partner within its UK Insurance practice. Ghosh will focus predominantly on finance, risk and regulation as well as insurers’ related data and technology needs. With more than two decades experience in financial ... Read the full article
Selective hits $70mn net income over Q3
17th November 2020
Selective Insurance saw its net income reach $69.9 million over the third quarter, up from the $56.2 million achieved in the prior year period. Year-to-date income is still lagging behind 2019 by 37%, however. The company has also seen its combined ratio improve 1.4 percentage points after a catastrophe-heavy Q2 2020 had ... Read the full article
Aston Lark acquires two new broking firms
17th November 2020
Chartered insurance broker Aston Lark has announced the acquisition of Risk Alliance Limited and Risk Alliance International, two broking subsidiaries of Risk Alliance Group. Risk Alliance Limited is a specialist Schemes broker based in Bingley, West Yorkshire, and were acquired by Accelerant in September 2019. The deal sees a total of 14 staff ... Read the full article
Suncorp expecting broadly neutral COVID-19 impact across first half of FY
17th November 2020
The impact of COVID-19 across Suncorp’s general insurance portfolio is expected to be broadly neutral for the first half of the 2021 financial year. Impacts during this period include an assessment for potential business interruption (BI) claims from the second Victorian lockdown. Additionally, temporary short- term reductions in motor claims frequency, continued ... Read the full article
Canada Life secures £146mn bulk annuity deal with Smiths Industries
17th November 2020
Canada Life has secured their tenth bulk annuity purchase, a £146 million bulk annuity with the Smiths Group pension scheme. The £3 billion Smiths Industries Pension Scheme has secured the bulk annuity with Canada Life after the auction process was redesigned to accommodate the post-COVID-19 market conditions. The transaction was described as having taken ... Read the full article
ICAT launches new insurance solution for cat exposed homeowners
17th November 2020
ICAT, an underwriter and producer of US catastrophe insurance, has announced a new insurance solution for catastrophe-exposed homeowners in Alabama, Mississippi, Louisiana, and Texas. Future expansion is planned in Florida and tier 1 and 2 counties along the Eastern Seaboard. The new homeowners insurance policy can reportadly be quoted and bound through ... Read the full article
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