Reinsurance News
FINACTU to support the Tunisia Ministry of Finance
5th October 2020
French insurer, FINACTU has announced that it has been chosen by the World Bank to support the Tunisia Ministry of Finance in a new stage in the modernisation of the insurance sector. The work will be carried out in collaboration with the Tunisian Ministry of Finance for the development of catastrophic ... Read the full article
Re/insurers must “truly embrace innovation” to succeed: James Harrison, Dun & Bradstreet
2nd October 2020
As the insurance and reinsurance industry continues to evolve at a rapid pace, companies need to be more proactive with investments in digital and advanced analytics, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet. Following the announcement of his new role ... Read the full article
AXIS Insurance adds to US Management Liability team
2nd October 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the appointment of four underwriters to its US Management Liability team. Christina Segreti, Drew Kushnick, Matthew Holzinger and Sherry Alexakis have joined AXIS as Senior Underwriters to help support the company’s profitable growth in the management liability ... Read the full article
CRC Group wraps up acquisition of surplus lines broker Specialty Risk
2nd October 2020
Specialty insurer CRC Group has completed the acquisition of MGA and surplus lines broker Specialty Risk Associates. The addition of Specialty Risk sees CRC Group continue its expansion into binding, transportation binding, and personal lines. The company has added more than 80 new producers and several new offices focused on those products ... Read the full article
Pen announces key appointments to delegated solutions division
2nd October 2020
Multi-territory managing general agent Pen Underwriting has announced a series of new leadership and underwriting appointments within its delegated solutions division. The new talent will be spearheading the expansion of its commercial and household businesses, where underwriting authority is delegated toon to specialist coverholders. Michael King will join from Canopius on 1 ... Read the full article
Chaucer to implement Phinsys’ suite of data solutions
2nd October 2020
Finance automation software Phinsys has announced that Chaucer will be implementing its suite of products aimed at transforming finance function. Phinsys states that Chaucer opted for its services after a comprehensive proof of concept to validate the benefits that the platform will deliver, including the recently launched finance data dashboard. The ... Read the full article
Swiss Re CorSo promotes three within FinPro underwriting team
2nd October 2020
Swiss Re Corporate Solutions, the commercial insurance division of reinsurance giant Swiss Re, has announced three leadership appointments within its Financial & Professional Services (FinPro) underwriting team, effective immediately. The company has announced the promotions of Laura Coppola as Global Head FinPro; Kristyn Smallcombe as Global Head Construction PI & GL; ... Read the full article
Q3 catastrophe bond & ILS issuance above-average at $1.63bn: report
2nd October 2020
The latest catastrophe bond and insurance-linked securities (ILS) market report from our sister publication, Artemis, shows that despite the challenges of the ongoing COVID-19 pandemic, issuance levels remained above-average in the third-quarter of 2020. Available to download now, the report, ‘Q3 ... Read the full article
Ascot names US Chief Risk Officer & Head of Exposure Management
2nd October 2020
Bermuda domiciled specialty insurer and reinsurer Ascot Group has announced the appointment of Steve Guijarro as US Chief Risk Officer (CRO) & Group Head of Exposure Management. As CRO, Guijarro will have responsibility for Ascot’s enterprise risk management function in North America. In addition to these duties, as Group Head of Exposure ... Read the full article
BHSI expanding mining underwriting capabilities to the UK
2nd October 2020
Berkshire Hathaway Specialty Insurance Company, the insurance arm of Warren Buffett's global insurance and reinsurance company, is expanding its mining underwriting capabilities to the UK. The expansion sees BHSI continue to round out its global mining capabilities, which are currently driven by mining industry specialists based in Australia and Canada. Subsequently, the company ... Read the full article
Allstate selected to provide auto coverage to Lyft in several US states
2nd October 2020
US primary insurer Allstate has been selected to provide commercial auto coverage to Lyft in the US states of California, Iowa, Indiana, Kansas, Kentucky, Missouri, Ohio and West Virginia. The policies managed by Allstate provide coverage throughout the cycle of a Lyft trip, from when a driver turns on the Lyft ... Read the full article
Kin Insurance enters California to relieve wildfire strain
2nd October 2020
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced it will begin serving homeowners throughout California. The expansion comes in response to the state’s recent increase in wildfire activity and the strain it has created for many homeowners. Kin notes that, in 2018, insurance ... Read the full article
ICA Chief Exec issues statement on Court of Appeal BI test case hearing
2nd October 2020
The New South Wales Court of Appeal has now heard the legal argument in relation to the business interruption test case lodged by the Insurance Council of Australia (ICA), according to Chief Executive Officer Andrew Hall. The test case consisted of two separate small business claims that were lodged with ... Read the full article
Senior industry figures call for public-private partnership to tackle cyber risk
2nd October 2020
The world’s reliance on online technology has grown to such an extent that it may surpass the insurers' ability to fully protect it, according to a number of senior industry professionals interviewed by CyberCube Chief Executive Officer Pascal Millaire. In the interviews, conducted as part of a new series of NetDiligence webinars, AXIS ... Read the full article
Athene, MassMutual move to acquire American Equity for $3bn
2nd October 2020
Retirement services firm Athene and life insurer MassMutual have submitted a proposal to the board of American Equity Investment Life Holding Company to purchase all of the company's outstanding common shares for a total consideration of around $3 billion. The unsolicited proposal is currently being reviewed by American Equity's board. The proposal ... Read the full article
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