Reinsurance News
Despite further losses, the ARA’s CR strengthened in Q3: Aon
13th January 2021
In an improvement from the end of the second-quarter, Aon's Reinsurance Aggregate (ARA) reported a net combined ratio of 102.9% for the first nine months of 2020, amid losses from both the COVID-19 pandemic and natural catastrophe events. When compared with the end of Q2, the ARA's reported net combined ... Read the full article
HSCM hires SCOR’s Adrian Jones in InsurTech & re/insurance push
13th January 2021
Hudson Structured Capital Management Ltd. (HSCM), the insurance-linked securities (ILS), reinsurance and transportation-focused investment manager, has announced the appointment of Adrian Jones from SCOR as the firm looks to expand its InsurTech and global re/insurance groups. Jones has been hired as a Managing Director of HSCM and a Partner in the ... Read the full article
Munich Re Automation Solutions enters partnership with MetLife Gulf
13th January 2021
Munich Re Automation Solutions, a subsidiary of the global reinsurer, has entered a partnership with MetLife Gulf to allow the implementation of its ALLFINANZ solution. It's hoped that adopting ALLFINANZ will enable brokers, agents, and Bancassurance partners to provide a more streamlined service to their customers in Bahrain, Kuwait, Qatar, United Arab ... Read the full article
KCC releases US winter storm reference model
13th January 2021
Catastrophe risk modeller Karen Clark & Company has announced the release of its new US Winter Storm Reference Model. The model leverages a physics-based methodology to capture winter storm loss potential from snow and ice, freezing temperatures, and high winds. “Winter storms are challenging to model, both due to their meteorological complexity and ... Read the full article
Canopius Re secures class 4 reinsurer licence from BMA
13th January 2021
Canopius' Bermuda-based reinsurance company Canopius Re has secured a Class 4 Reinsurer licence from the Bermuda Monetary Authority. This reclassification makes it possible to significantly extend Canopius Re’s scope, enabling it to increase gross written premiums and write more third-party risks. Canopius Re is set to undergo a reorientation towards an initial ... Read the full article
Chubb selects Jeremiah Konz as new Chief Reinsurance Officer
13th January 2021
Property and casualty insurer Chubb has announced that Jeremiah Konz, currently Executive Vice President, Reinsurance Officer for Chubb Overseas General, has been appointed as the company's new Chief Reinsurance Officer, effective immediately. Konz takes over from Michael Kessler, who Chubb recently named Division President of its global cyber risk insurance operation. In ... Read the full article
Howden Group invests $84mn to support reinsurance MGA Tamesis DUAL
13th January 2021
International brokerage Howden Group Holdings has completed its first underwriting capital investment, with an $84 million investment in support of DUAL Group's reinsurance arm, Tamesis DUAL Ltd. Capital was provided by Howden and a third party investor and the additional capacity has been in place since the start of January. DUAL, which ... Read the full article
Nautilus Insurance names new CUO as Tom Joyce becomes President
13th January 2021
Nautilus Insurance Group, a Berkley company, has announced a number of executive leadership changes, including the appointment of Bill Floros as Senior Vice President (SVP) and Chief Underwriting Officer (CUO). Floros takes over the role from Tom Joyce, who has been appointed President, succeeding Thomas Kuzma, who recently assumed the role ... Read the full article
Cowbell Cyber launches Prime Plus cyber line
13th January 2021
AI-powered cyber insurance provider for small to mid-sized businesses, Cowbell Cyber, has announced the availability of its excess cyber coverage line, Prime Plus. This new line of insurance offers businesses up to $1 billion in revenue access to an additional $10 million in excess limits. Prime Plus provides organisations with additional financial ... Read the full article
Gallagher to acquire specialist UK broker Bollington
13th January 2021
Global insurance broker Arthur J. Gallagher & Co. has signed an agreement to acquire 100% of The Bollington Wilson Group, a specialist UK broker. Bollington was founded in 1973 and has divisions in SME, micro-SME and personal lines. The business will become part of Gallagher's UK Retail Division and its CEO will remain with ... Read the full article
AXA XL names Brett Musser as US Marine Product Leader
13th January 2021
The US marine team at AXA XL, the property & casualty and specialty risk division of AXA, has added Brett Musser as the Central US Zonal Marine Product Leader. He will be based in Chicago and will serve as Marine Liabilities Product Manager, focusing on developing bespoke solutions for specialised marine ... Read the full article
Costero Brokers hires Freddie Tyler as Vice President
13th January 2021
Privately held London-based brokerage, Costero Brokers, has announced the appointment of Freddie Tyler as Vice President, effective January 4, 2021. Tyler's responsibilities will include growing the crisis management offerings including facultative, binder, treaty, and TRIA-wrap products. He has an extensive background in insurance, working in the industry for seven years. Most recently he ... Read the full article
Arch enters Consumer Product and Home Warranty market
13th January 2021
Arch Insurance, part of Arch Capital Group, has entered into the Consumer Product and Home Warranty markets, offering solutions for products such as consumer electronics, appliances, mobile, furniture, HVAC and home warranty. With this offering, Arch will focus on its “underwriting only” partnership approach for original equipment manufacturers (OEM), third party ... Read the full article
McGill and Partners joins LIIBA
13th January 2021
The London and International Insurance Brokers’ Association (LIIBA) has announced that McGill and Partners has joined the association. Start-up specialist insurance and reinsurance broker, McGill and Partners, was launched in 2019 by insurance broking veteran, Steve McGill. Commenting on the broker's decision to join LIIBA, the associations Chief Executive, Chris Croft, ... Read the full article
Hamilton adds Trevor Ormes & Florence Mognetti to Lloyd’s operations
13th January 2021
It's been announced that both Trevor Ormes and Florence Mognetti have joined Hamilton Managing Agency, the Lloyd's of London operations of Bermuda-based insurer and reinsurer, Hamilton Insurance Group. Ormes joins as Deputy Active Underwriter of Syndicate 4000 and Head of Professional Lines, while Mognetti has been appointed as Head of Political ... Read the full article
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