Reinsurance News
Argenta appoints Edward Davidson as Energy Transition Technology Underwriter
7th November 2023
Argenta Syndicate Management Limited (ASML), a subsidiary of Argenta Holdings Limited, has announced the appointment of Edward Davidson to the newly created role of Energy Transition Technology Underwriter. Based in London, Davidson will report to Heath Callan, Divisional Head of Energy and Marine. Davidson's appointment underscores Argenta's commitment to supporting a net-zero ... Read the full article
Bertagna to lead MGA division of Howden’s reinsurance arm in Europe
7th November 2023
Howden, the global insurance group, has appointed Enrico Bertagna as Managing Director, leading the MGA division of its reinsurance arm in Europe. According to the firm, this appointment bolsters its MGA/Programme broking business, which currently places a combined $6 billion of GWP, and positions it to "grow significantly in Europe." Elliot Richardson, ... Read the full article
QIC 9m net profit soars 445% to QAR 453m
7th November 2023
Qatar Insurance Company (QIC) has reported Net Profits of QAR 453 million for the first nine months of 2023, rising a massive 445% from the same period in 2022. Despite noting an array of challenges in the current market environment, QIC also disclosed net investment results amounting to QAR 681 million ... Read the full article
Miller strengthens marine team with appointment of Andreas Bisbas
7th November 2023
Specialist (re)insurance broker Miller has appointed Andreas Bisbas as Chairman of Marine Mutual Reinsurance and Head of Mutual War within the Marine team. Bisbas is set to join Miller in late November and will report to Phil Wheeler, Head of Marine at Miller. He most recently served as Managing Director of Tsakos ... Read the full article
UK, EBRD partner to facilitate business support for Ukraine with war-risk insurance scheme
7th November 2023
In a significant move to aid Ukraine's recovery and reconstruction efforts following Russia's invasion, the United Kingdom and the European Bank for Reconstruction and Development (EBRD) have signed a Statement of Intent to establish a war-risk insurance scheme. This scheme aims to empower UK companies to engage in business activities within ... Read the full article
UK non-life insurance premium income expected to grow 8.5% in 2023: EY
7th November 2023
UK non-life insurance premium income is forecasted to grow 8.5% in 2023, up from 3.9% in 2022, before slowing slightly to 5.1% in 2024 and 4.1% in 2025, according to a recent analysis from EY Item Club. This growth is expected to be driven by sizeable rises in premium prices, as ... Read the full article
Guy Carpenter names Michael Shemi as North America Structured Credit Leader
7th November 2023
Guy Carpenter, a global risk and reinsurance specialist and a business of Marsh McLennan, has appointed Michael Shemi as the North America Structured Credit Leader, effective immediately. Shemi will be based in New York, reporting to Jeffrey Krohn, who serves as the Global Mortgage and Structured Credit Leader within the organisation. This ... Read the full article
AM Best downgrades issuer credit ratings of EMCC & certain subsidiaries
7th November 2023
Global ratings agency, AM Best, has downgraded the Long-term Issuer Credit Rating to “a” (Excellent) from “a+” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Employers Mutual Casualty Company (EMCC) (Des Moines, IA), as well as its five property & casualty subsidiaries - collectively referred to ... Read the full article
Beazley takes advantage of “exceptional” property market in 9M 2023
7th November 2023
Specialist insurer Beazley has reported insurance written premium growth of 9% to $4.3 billion for the first nine months of 2023, as the firm took advantage of opportunities in the property market. Net insurance written premiums rose 26% year-on-year to $3.5 billion in 9M 2023, as Beazley reports an overall year ... Read the full article
Fiducia MGA reaffirms commitment to providing brokers with marine equipment insurance solutions
7th November 2023
Leeds-based Managing General Agent (MGA), Fiducia, has underscored its dedication to serving UK brokers by offering comprehensive marine equipment insurance solutions. The MGA's Marine Equipment underwriting facility is tailored to meet the evolving needs of the industry, particularly for high-value equipment involved in offshore projects, including those related to sustainable power ... Read the full article
LexisNexis enhances Rooftop solution with Vexcel partnership
7th November 2023
LexisNexis Risk Solutions, a provider of data, analytics and technology solutions for insurance carriers, has announced its new alliance with Vexcel Data Program, a specialist in aerial imagery and geospatial data. This alliance elevates LexisNexis Rooftop geospatial and aerial intelligence capabilities. An integral part of end-to-end property intelligence solution, LexisNexis Total ... Read the full article
John Donnelly named Marsh Global Head of Placement
6th November 2023
Insurance broker Marsh has announced the appointment of John Donnelly as Global Head of Placement, effective January 1, 2024. In his new role Donnelly will have global responsibility for Marsh’s retail and wholesale broking activities. He will work closely with Marsh’s regional placement leaders to advance its global placement strategy to ... Read the full article
Trium Cyber names Signorelli Managing Director of International operations
6th November 2023
Lloyd's cyber insurance specialist, Trium Cyber, has appointed Mauro Signorelli as Managing Director of International operations. In his new position, Signorelli will be responsible for leading and growing Trium’s International operations. He will report to Chief Executive Officer Josh Ladeau, and work alongside Amie Watson, Trium’s Chief Underwriting Officer for ... Read the full article
IAIS report urges action on NatCat protection gaps amid climate change threat
6th November 2023
The International Association of Insurance Supervisors (IAIS) has issued a report, "A call to action: the role of insurance supervisors in addressing natural catastrophe protection gaps," highlighting the vital role of insurance supervisors in addressing the rising threat of natural catastrophe (NatCat) events due to climate change. Protection gaps, defined as the ... Read the full article
AM Best turns positive on E&S lines insurance segment
6th November 2023
AM Best has revised its outlook on the excess and surplus (E&S) lines insurance segment to positive from stable, citing increased business due to declining capacity in commercial lines and some personal lines markets. The rating agency also referenced strong underwriting results, which are driving favourable operating profitability and strengthened capital ... Read the full article