Reinsurance News
AgentSync raises $25mn through Series A funding round
10th March 2021
AgentSync has raised $25 million in a Series A funding round, co-led by Elad Gil and David Sacks’ Craft Ventures, with participation from Marc Benioff, Caffeinated Capital, Operator Collective, and Nine Four Ventures. This brings the company’s valuation to $220 million, ten times higher than when the company raised its seed ... Read the full article
COVID-19, sustainability key insurance themes for 2021: GlobalData
9th March 2021
Data and analytics firm GlobalData expects COVID-19 to be far and away the most important theme for the insurance industry in 2021, but that sustainability will continue to be an essential long-term issue. GlobalData insurance analyst Ben Carey-Evans states COVID-19 will change markets and transform consumer behavior as consumers and businesses ... Read the full article
Berkshire (BHSI) names Rachel Simon as SVP
9th March 2021
Berkshire Hathaway Specialty Insurance (BHSI), part of Berkshire Hathaway, has appointed Rachel Simon as Senior Vice President (SVP), Head of U.S. Commercial Private and Nonprofit, Professional Lines and Transactional Liability Claims. Simon joins BHSI with over two decades of Executive and Professional Lines experience, most recently working at Great American Insurance ... Read the full article
Allianz and WeLab enter into strategic partnership
9th March 2021
Global insurer Allianz and Asian fintech company WeLab have entered into a strategic partnership to encourage fintech collaboration across Asia's financial services landscape. WeLab operates multiple online financial services with leading positions in Hong Kong, Mainland China, and Indonesia including digital banking and consumer finance businesses, with close to 50 million ... Read the full article
Builders Insurance Group names Todd Campbell President, CEO
9th March 2021
Atlanta-based Builders Insurance Group has added Todd Campbell as President and Chief Executive Officer. He joins on April 5 and will lead the company alongside providing strategic direction to its operations. Campbell was previously President and CEO of Accredited Surety and Casualty Company. His experience also includes four years as CEO of ... Read the full article
SCOR’s Channel Syndicate returns to profit in 2020
9th March 2021
The Channel Syndicate at Lloyd’s of London, which is part of global re/insurer SCOR’s Specialty Insurance platform, has reported profit of £9.4 million for 2020. This return to profitability comes after Channel decided to reset its strategy in late 2018 and take corrective actions. It reported a loss of $19 million ... Read the full article
Mosaic begins writing war, terrorism & political violence business
9th March 2021
Mosaic, the global specialty insurance company launched by Ironshore executive Mitch Blaser last month, has begun underwriting war, terrorism and political violence risks globally out of offices in London and New York. The company plans to offer tailored coverage for a range of commercial, industrial and residential property risks associated ... Read the full article
Aon / WTW: Sources expect Willis Re sale & divestment to near $1.8bn cap
9th March 2021
Aon's pending acquisition of rival Willis Towers Watson (WTW) continues to generate significant chatter in investor and analyst circles, with sources increasingly confident a sale of reinsurance broker Willis Re will be the likely outcome, if remedies are needed to get the merger through. But divestitures are not seen as stopping ... Read the full article
Global Indemnity reports $21.2m loss for 2020
9th March 2021
Property and casualty insurer Global Indemnity has reported a net loss of $21.2 million for 2020, compared with net income of $70.0 million in 2019. Underwriting income remained positive at $17.9 million, although this was still significantly down on the $43.3 million that Global Indemnity reported in 2019. The company attributed this ... Read the full article
Google hires Nigel Walsh from Deloitte as MD Insurance
9th March 2021
Nigel Walsh, former Partner at consultancy Deloitte with a focus on InsurTech, has been appointed as the Managing Director of Insurance at Google. Walsh joins Google to lead the insurance business in North America with Yolande Piazza, VP Financial Services, Google Cloud. In his new role, Walsh will work alongside Dr. Henna ... Read the full article
Marsh appoints Bryant to lead national public entity industry practice
9th March 2021
Insurance broker Marsh has added Kevin Bryant to lead its national public entity industry practice. Bryant will help ensure that state and local government and not-for-profit clients across the US receive continued public sector expertise, insights, and transactional services. He joins Marsh from Aon, where he spent the last 14 years as ... Read the full article
Thomas Miller Americas hires Argentieri as Senior Claims Executive
9th March 2021
Global insurance provider Thomas Miller has appointed Meaghan Argentieri as Senior Claims Executive to its New Jersey office. With just under 20 years of experience, Argentieri joins from a Jones Act Ocean Carrier, where she held both operational and risk management positions. She was responsible for handling a broad range of, often ... Read the full article
GRS bolsters global Complex Claims Solutions team
9th March 2021
Claims adjusting firm Global Risk Solutions has added 13 specialist adjusters and technicians to its London team. The new team, led by Adam Humphrey and George Pooley, will provide additional expertise and capabilities across the business in an effort to enhance GRS' Complex Claims Solutions (CCS) operation. Humphrey and Pooley bring extensive ... Read the full article
IAG confirms zero exposure to Greensill collapse
9th March 2021
Australian insurer IAG has clarified that it has no net insurance exposure to trade credit policies relating to the collapse of financial services company Greensill Capital. Greensill, which specialises in supply-chain finance, filed for administration earlier this week after warning that it is in “severe financial distress” and unable to repay ... Read the full article
Helios announces up to £60mn capital raise
9th March 2021
Helios Underwriting has successfully raised gross proceeds of approximately £53.5 million through the placing and subscription of New Ordinary Shares at a price of £1.60 per share, with participation from ILS Capital Management and Hudson Structured Capital Management Limited. The two ILS and reinsurance investment managers are together subscribing for £40.8 ... Read the full article
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