Reinsurance News
PartnerRe launches retro & specialty reinsurance vehicle backed by Olympus
21st January 2021
Bermuda-based reinsurance company, PartnerRe Ltd., has established a new retrocession and specialty reinsurance vehicle called Laplace-C, which has secured an investment from Olympus Partners. The backing sees Stamford, Conn.-based private equity firm, Olympus Partners, look to take advantage of favourable reinsurance market conditions in both short-tail specialty and retro insurance markets. Founded ... Read the full article
Casualty renewals see underwriting tighten against stress factors: GC
21st January 2021
Reports from re/insurance broker Guy Carpenter (GC) show that casualty reinsurance renewals varied widely at January 1, 2021, with negotiations influenced by individual circumstances such as loss experience, covered lines and classes written. But despite this divergence, analysts believe that every placement experienced some degree of continued reinsurance underwriting rigor. This trend ... Read the full article
Ascot hires Joy LaHuta as SVP, Head of Claims
21st January 2021
Global specialty insurance and reinsurance underwriter Ascot has appointed Joy LaHuta as its Senior Vice President, Head of Claims in Bermuda. She brings over 15 years of claims leadership experience with specialisation in Excess Casualty, Financial Lines, and Healthcare. LaHuta joins from RenaissanceRe where she was Vice President, Head of Claims for ... Read the full article
RT Binding Authority announces leadership team
21st January 2021
RT Specialty, the wholesale brokerage unit of Ryan Specialty Group, has created a new leadership team for its national binding authority operations, RT Binding Authority. As previously announced, Seth Johnson will be leading RT Binding Authority as President. Prior to his appointment as President of RT Binding Authority, Johnson served as ... Read the full article
American Integrity partners with Cape Analytics
21st January 2021
Florida-based property insurer American Integrity Insurance Company has partnered with Cape Analytics, allowing American Integrity to assess properties remotely to keep its agents, employees and customers safe, an essential capability throughout the COVID-19 pandemic. The insurer will be using Cape Analytics’ geospatial property intelligence, such as roof condition rating, roof geometry, ... Read the full article
Pandemic-related risks front and centre for corporates in 2021: Allianz
20th January 2021
The 10th annual Allianz Risk Barometer reveals that exposures related to the ongoing COVID-19 pandemic are considered the top business risks in 2021, with business interruption (BI) taking the top spot for the eighth time. A significant 41% of responses see BI as the top risk to business in 2021, followed ... Read the full article
SCOR collaborates with Covr Financial & Americo on life solution
20th January 2021
Global re/insurer SCOR, Covr Financial Technologies and Americo Financial Life and Annuity Insurance Company have launched LoanMatch Protector, a life insurance policy customised to a consumer's specific loan amortisation schedule. This new policy can be accessed by customers of banks, credit unions, lenders, e-banks and direct lenders through Covr's industry-leading, white-labeled ... Read the full article
Astaara makes three leadership hires as part of expansion
20th January 2021
Risk management company Astaara has employed three new senior members of staff as part of the company's expansion. Victoria Knowles has joined as Chief of Staff, while Asti Rogers and Gemma Smyth take on the roles of Head of Operations and Head of Analytics. Knowles has over 20 years of experience in ... Read the full article
Global Indemnity CEO Cynthia Valko to retire
20th January 2021
Global Indemnity Group's Chief Executive Officer Cynthia Valko is set to retire from the company on January 31. She will continue to serve the in an advisory capacity. The company’s board of directors will be undertaking a search process to identify the successor for Valko. “It has been my great privilege to serve ... Read the full article
QBE adds directors to North America board
20th January 2021
QBE has announced the addition of two new Non-Executive Directors to the board of its subsidiary, QBE North America. The new appointments are Shamla Naidoo and Sharon Ritchey. Both new directors will serve on the Audit, Investment, People & Remuneration and Risk & Capital Committees. There are also plans for Ritchey to Chair ... Read the full article
Sixth Street to acquire Talcott Resolution
20th January 2021
Global investment firm Sixth Street has agreed to acquire Talcott Resolution Life Insurance Company from a consortium of investors led by Cornell Capital, Atlas Merchant Capital, TRB Advisors, Global Atlantic Financial Group, Pine Brook, J. Safra Group, and The Hartford. Talcott Resolution manages over $90 billion in liabilities and surplus for ... Read the full article
Fitch sees regulatory initiatives as positive for Brazilian insurance market
20th January 2021
Regulatory changes supported by Superintendencia de Seguros Privados (SUSEP), a Brazilian state body responsible for insurance operations, should boost competition in the country's insurance sector and lower prices for consumers, reports Fitch. Currently, of the 120 insurance carriers authorised to operate in Brazil, around 10% control some 80% of the total ... Read the full article
Swiss Re’s net loss forecast to hit $389mn in 2020, says Berenberg
20th January 2021
Berenberg is anticipating Swiss Re to register a net loss of $389 million for 2020, up from the previous $178 million estimate, with COVID-19 claims driving the earnings downgrade for the year. It's worth noting that while this analysis applies directly to Swiss Re, the widespread nature of COVID-19 could result ... Read the full article
Constellation acquires INSUREtrust
20th January 2021
Constellation Affiliated Partners has acquired INSUREtrust, a specialty wholesale broker and MGA headquartered in Atlanta, Georgia. INSUREtrust distributes cyber liability, technology errors & omissions, and miscellaneous professional liability coverages. Alongside its acquisition by Constellation, a New York-based insurance consolidator platform, the INSUREtrust team also announced the promotion of Christiaan Durdaller to President ... Read the full article
HSBC & Etiqa named as shortlisted bidders for AXA Singapore: reports
20th January 2021
British bank HSBC Holdings and Etiqa, the majority owned Malayan Banking insurance joint-venture, have been named as two of the shortlisted bidders for the Singapore operations of global insurer and reinsurer AXA, reports Bloomberg. According to reports, people familiar with the matter have said that the sale of AXA Singapore could ... 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.
