Reinsurance News
Chubb promotes Parmar & Crosby to senior reinsurance roles
10th February 2021
Chubb has announced the appointments of Sunil Parmar and Alexander to leadership positions within the Reinsurance team at Chubb Overseas General, its international general insurance business. Parmar and Crosby, who have been jointly promoted to the role of Senior Reinsurance Officer, Chubb Overseas General (COG), will now co-lead Chubb’s Ceded Reinsurance ... Read the full article
Amynta hires Brad Isaacson as SVP, Program Development
10th February 2021
Amynta Group has appointed Brad Isaacson as Senior Vice President of Program Development. He brings over 30 years of experience and will be responsible for driving new program development opportunities and helping manage carrier relations and reinsurance alliances across the organisation. Isaacson joins from The Hanover Insurance Group, where he served as ... Read the full article
Watford’s underwriting loss narrows, as investments drive profit
10th February 2021
Bermuda domiciled re/insurance company Watford Holdings has reported net income of $61.4 million for the fourth quarter of 2020, compared with a net loss of $16.9 million for the same period in the previous year. This was despite recording an underwriting loss of $9.1 million for the period, which was nevertheless ... Read the full article
Touchstone to acquire AIG Life & Retirement assets
10th February 2021
Touchstone Investments, a subsidiary of Western & Southern Financial Group, has entered into a definitive agreement to acquire certain assets of AIG Life & Retirement’s Retail Mutual Funds business. In the proposed transaction, which is expected to close in mid-2021, twelve funds with approximately $7.5 billion in assets will be acquired ... Read the full article
Lockton Re hires Tom Berry as Senior Broker
10th February 2021
Lockton Re, the reinsurance arm of global brokerage Lockton, has appointed Tom Berry as Senior Broker for its Marine & Energy division in London. Berry started his career at JLT Re in the Marine & Energy division, where he worked for over eight years. He then took up various underwriting positions in ... Read the full article
Chubb creates new energy team for Global Markets
10th February 2021
Global re/insurer Chubb has created a new energy team in Chubb Global Markets (CGM), which will underwrite large corporate energy customers in EMEA, Asia Pacific and Latin America. CGM comprises Chubb's London market wholesale and specialty business including the company's Lloyd's platform. Middle market energy customers' risks will continue to be underwritten ... Read the full article
Lancashire sees GWP rise 15.2% to $814mn in 2020
10th February 2021
Specialty re/insurance underwriter Lancashire saw gross premiums written increase by 15.2% year on year to $814.1 million in 2020. Meanwhile the firm’s combined ratio was confirmed at 107.8%, a figure which included the impact of COVID-19. Overall profit after tax was $4.2 million while Lancashire’s investment portfolio generated returns of 3.9% for ... Read the full article
Rebranded Supercede launches reinsurance trading platform
10th February 2021
Technology provider Riskbook has rebranded itself as Supercede to launch a data-driven global trading platform specifically created for the reinsurance sector. The platform aims to provide a free-to-use, independent reinsurance market with built-in analytics services. Supercede believes it will enable reinsurers to gain access to more risks and data, while brokers can ... Read the full article
Arch reports spike in Q4 net income to $533mn
10th February 2021
Bermuda domiciled Arch Capital Group, Ltd. has reported an increase in net income to $533.1 million for the fourth-quarter of 2020, as the performance of its reinsurance and mortgage segments more than offset an underwriting loss in the firm's insurance unit. Net income increased by 69% from the same period in ... Read the full article
EY forecasts 3.4% premium growth for UK insurers
10th February 2021
Analysts at EY are forecasting that UK insurers will see overall premium income grow by 3.4% over 2021, despite the economic impact of the pandemic, ultra-low interest rates, and the FCA’s pricing review. Non-life premium income fell by 0.8% in 2020, but the latest EY ITEM Club for Financial Services Forecast ... Read the full article
EC suspends review of Aon / WTW combination
10th February 2021
The European Commission (EC) has reportedly halted its investigation into the proposed combination of Aon and Willis Towers Watson (WTW) while it waits for more data from the broker, reports Reuters. The EC confirmed back in December that it would conduct an in-depth investigation of the transaction over concerns it ... Read the full article
WhenFresh & Ambiental partner on UK flood data
10th February 2021
Data supplier WhenFresh has partnered with Ambiental Risk Analytics, a specialist in environmental hazard intelligence, predictive analytics and risk management, to make Ambiental’s flood risk data available to UK re/insurers. WhenFresh already supplies data to many leading UK insurers, but will now be able to provide access to Ambiental’s UK FloodMap ... Read the full article
Everest Re net income falls to $64mn in Q4
9th February 2021
Everest Re Group has seen its fourth quarter net income fall to $64 million, a drop from the $217 million announced in the prior year quarter. This drop is largely due to a prior year reserve strengthening hit of $400 million as well as catastrophe losses of $70 million. COVID-19 losses were ... Read the full article
Sally Bridgeland joins PIC Board
9th February 2021
Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension funds, has announced the addition of Sally Bridgeland to its Board as an Independent Non-Executive Director and Chair of the Risk Committee. Bridgeland replaces Steve Sarjant as Chairman of the Risk Committee following his retirement as an Independent Non-Executive Director. At ... Read the full article
Storms erode Suncorp’s reinsurance deductible by 55%
9th February 2021
Australian primary insurance giant Suncorp has announced that, while it has not driven any reinsurance recoveries, catastrophe losses across the first half of its financial year eroded the aggregate deductible in several reinsurance treaties, including the aggregate excess of loss treaty. Total costs from the cat events across Australia and New ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
