Reinsurance News
AXA XL’s New Energy Risk insures fuel cell project in South Korea
21st October 2020
New Energy Risk (NER), an affiliate of global re/insurer AXA XL, has provided an insurance solution to Bloom Energy to facilitate the purchase and financing of fuel cells in South Korea. NER developed an insurance solution and monitoring schedule that addresses the operation of the fuel cells for 15 years. NER has ... Read the full article
Peak Re adds Swiss Re’s Clarence Wong as Chief Economist
21st October 2020
Hong Kong domiciled reinsurer Peak Re has announced the appointment of Clarence Wong as its new Chief Economist, effective November 16th, 2020. In his new role, Wong will report directly to Peak Re's Chief Executive Officer (CEO), Franz Josef Hahn. He takes on responsibility for delivering strategic insights on economic, insurance ... Read the full article
Heather Clarkson joins LIIBA board
21st October 2020
Heather Clarkson, Director and Divisional CEO, Specialty at Ed has joined the LIIBA board, taking up her seat with immediate effect and replacing Andrew Draycott, CEO of Ed London. Clarkson joined Ed Broking as MD of its Marine Division in 2018, was appointed CEO of Ed’s Specialty Division and a Director ... Read the full article
CRC Group makes senior leadership changes
21st October 2020
Specialty insurer, CRC Group has announced changes to the company’s senior leadership team which will come into effect from January 1, 2021. Ron Helveston who is the current CEO of Commercial Solutions will retire, and be succeeded by Mike Brennan currently President, Commercial Solutions. In addition, Neil Kessler currently Chief Operating Officer, ... Read the full article
Whitespace announces new Advisory Board
21st October 2020
Whitespace, the digital e-trading platform for brokers and re/insurers, has announced the establishment of its new Advisory Board. The company's new board brings together Andrew Brooks, Chief Executive Officer (CEO) of Ascot; Stephen Catlin, Chairman and CEO of Convex; Jason Keen, President of Chubb Global Markets; Craig Kingaby, CEO of Meridian ... Read the full article
Munich Re’s HSB expands Cyber Suite
21st October 2020
Munich Re’s HSB has expanded its HSB Cyber Suite product to help protect small businesses with new insurance coverages and risk management services. The services include website security scans and computer system upgrades to help prevent future cyber crimes. HSB Cyber Suite provides a collection of cyber insurance and services designed to ... Read the full article
Hiscox Re & ILS names Kathleen Reardon as CEO
21st October 2020
Specialist insurer and reinsurer Hiscox has announced that Kathleen Reardon is to succeed Mike Krefta as Chief Executive Officer (CEO) of Hiscox Re & ILS, subject to regulatory approval. Reardon most recently served as the CEO of Hamilton Re, the reinsurance arm of Bermuda-based Hamilton Insurance Group. She spent her early ... Read the full article
W.R. Berkley posts 93.7% combined ratio for Q3 despite cat impacts
21st October 2020
W.R. Berkley Corporation has reported operating income of $121.1 million for the third-quarter of 2020 and a combined ratio of 93.7%, despite the impacts of catastrophe events in the period. Operating income fell slightly from the $163.7 million reported for the third-quarter of 2019, while the insurer's net income also fell ... Read the full article
Gallagher recruits Market Management Director from Zurich
21st October 2020
International re/insurance broker Gallagher has announced the appointment of Nick Price as Market Management Director. Price joins Gallagher from Zurich, where he most recently served as Global Broker Relationship Leader. He has 20 years’ experience in insurance having additionally held roles at leading insurers AIG, RSA and AXA. In his new role, Price ... Read the full article
Hannover Re US, insurtech Ladder announce partnership growth
21st October 2020
Hannover Re US and insurtech Ladder are to work together in a new and expanded partnership, having first collaborated in 2016. Ladder offers technology-driven insurance solutions designed to meets the demands of today’s consumers. Hannover Re US has provided support in the form of risk management solutions, accelerated underwriting consultation and outsourced ... Read the full article
Munich Re backs EQ One’s earthquake solutions
21st October 2020
Earthquake insurance underwriter, EQ One, has announced a new relationship with Munich Re Specialty Insurance, a division of Munich Re, to add additional capacity to its earthquake solutions. This new partnership enables EQ One to write larger earthquake risks and serve as a single-source solution for broker partners nationwide, in spite ... Read the full article
Vantage receives Preliminary Credit Assessment of A- from AM Best
20th October 2020
Vantage Risk Ltd., a newly established insurance and reinsurance business set to launch with Dinos Iordanou as Non-Executive Chairman and Greg Hendrick as CEO, has been assigned Preliminary Credit Assessments (PCAs) by ratings agency A.M. Best. Specifically, A.M. Best has assigned a PCA with a Financial Strength Assessment of A- pca ... Read the full article
LSM adds Mandy Macqueen as Chief Digital Transformation Officer
20th October 2020
Liberty Specialty Markets has appointed Mandy Macqueen to the newly created role of Chief Digital Transformation Officer. Mandy brings many years’ experience in major IT and change roles, both in-house and as a consultant. These include managing large IT departments in financial services, including legal and compliance and retail and corporate banking. Macqueen joins ... Read the full article
Aspen looks to raise $238mn via Highlands bond issuance
20th October 2020
Bermuda-based insurer and reinsurer Aspen Insurance Holdings Limited is looking to raise approximately $238 million of capital through a bond issuance. According to a recent securities filing, Highlands Holdings Bond Issuer, Ltd. and its subsidiary, Highlands Holdings Bond Co-Issuer, Inc., are proposing a $500 million issuance, just under half of which ... Read the full article
Munich Re adds €800mn of COVID-19-related losses in Q3
20th October 2020
Global reinsurer Munich Re has added a further €800 million of COVID-19-related losses in its reinsurance operation in the third-quarter of 2020, taking its total for the first nine months of the year to €2.3 billion. The German reinsurer explains that the losses were attributable to various lines of business, including ... Read the full article
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