Reinsurance News
Lemonade launches life insurance using Bestow platform
10th February 2021
Insurtech firm Lemonade has announced that it will power its recently launched life insurance offering with the Protect API platform from Bestow, a digital life insurance company. Using Bestow’s platform, Lemonade customers can apply for instant insurance online using Lemonade’s website and apps. Customers are underwritten in real-time, using third-party data to ... Read the full article
Orchid announces Kathy Cody as president
10th February 2021
Orchid Underwriters Agency, a specialty underwriter of catastrophe-exposed property insurance, has announced the appointment of Kathy Cody as President. Cody holds over 30 years’ experience and previously led personal lines underwriting, finance, analytics, operations, and strategy execution teams, and served as Chief Financial Officer for the life business. She joined the company ... Read the full article
Severe snowfall in Spain leads to multi-billion economic loss: Aon
10th February 2021
Reinsurance broker Aon has launched its latest edition of its monthly global catastrophe recap report, which evaluates the impact of the natural disaster events that occurred worldwide during January 2021. The report reveals that a low-pressure system ‘Filomena,’ caused severe snowfall in Spain, leading to business interruption and property losses tentatively ... Read the full article
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
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