Reinsurance News
Swiss Re CorSo names Emmanuelle Huard-Auray as Head E&C, North America
9th December 2020
Reinsurance giant Swiss Re's commercial insurance arm, Swiss Re Corporate Solutions (Swiss Re CorSo), has announced the appointment of Emmanuelle Huard-Auray as Head Engineering & Construction (E&C) North America. Based in Chicago and reporting to Michael LaRocca, Head Property & Specialty North America, Huard-Auray takes on responsibility for driving the ... Read the full article
HSCM adds $600mn in new investor commitments
9th December 2020
Hudson Structured Capital Management (HSCM), the insurance-linked securities (ILS), reinsurance and transportation focused investment manager, has added more than $600 million in new investor commitments in Q4 2020. This brings HSCM's commitments and assets under management to more than $3.0 billion and its re/insurance linked strategy commitments and assets under management ... Read the full article
Today, you can do a lot more as a new carrier: Hendrick, Vantage
9th December 2020
Meaningful advances in technology and analytics provides a new re/insurance carrier with far greater capabilities today than in previous periods of market hardening, according to Greg Hendrick, Chief Executive Officer (CEO) of Vantage. Vantage announced its launch last week with $1 billion of equity capital ahead of the January 1st, ... Read the full article
Japanese life premiums suffer but capital remains strong: Moody’s
9th December 2020
According to analysts at Moody’s, disruptions due to the COVID-19 pandemic have significantly impacted new policy sales for the four major Japanese life insurers. However, the rating agency added that core profits among this group remain solid, and capitalisation has also improved but remains vulnerable to market shocks. Overall, in-force business, capital ... Read the full article
GCube hires Landis Knorr as Senior Underwriter
9th December 2020
GCube, a provider of insurance services for renewable energy projects, has appointed Landis Knorr as a Senior Underwriter within its US team. This hire comes after the company announced plans to expand its new and existing business throughout North America in 2021. Knorr will be based in San Francisco, where he will ... Read the full article
Credit Suisse’s Kelvin Re & Humboldt Re to cease writing new business
8th December 2020
The shareholder and the Board of Directors of both Kelvin Re Limited and Humboldt Re Ltd., two Guernsey domiciled rated reinsurance vehicles managed and backed by capital from the Credit Suisse Insurance Linked Strategies Ltd. team, have decided to cease underwriting new business. Licensed in Guernsey since 2015, the ultimate shareholder ... Read the full article
Conduit Re secures AM Best ratings following $1.1bn IPO
8th December 2020
Newly-launched property and casualty reinsurer Conduit Re has secured a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” from AM Best. The outlook assigned to these Credit Ratings (ratings) is stable. Led by founders Neil Eckert and Trevor Carvey, Conduit Re completed its initial public offering ... Read the full article
Munich Re to halt event cancellation cover for pandemics
8th December 2020
Reinsurance giant Munich Re has confirmed that it will stop writing coverage for events cancelled due to pandemics. Munich Re unveiled its “Ambition 2025” growth and results targets earlier today, which include a targeted return on equity of 12-14% by 2025 and a combined ratio of approximately 95% in property ... Read the full article
Major League Baseball sues insurers over pandemic BI losses
8th December 2020
As the legal battles over the status of business interruption (BI) claims connected to the pandemic continue to play out, Major League Baseball (MLB) has announced that it intends to sue its insurance providers. The League and all 30 of its teams plan to file a lawsuit against their insurers over ... Read the full article
Lemonade launches in French insurance market
8th December 2020
Insurtech start-up Lemonade has now launched in France, marking the third EU country the company has entered, following a launch in the Netherlands earlier this year, and Germany in June 2019. Lemonade's latest expansion will provide French residents with access to instant renter’s insurance as well as file claims through the ... Read the full article
Tort reform needed to combat social inflation: Jefferies
8th December 2020
Analysts at Jefferies have said that tort reform may be needed to resolve the underlying problems of social inflation in the US. Responding to recent analysis by Swiss Re Institute, Jefferies argued that historically social inflation has only been resolved with tort reform. Swiss Re believes that social inflation in the US ... Read the full article
Beach & Associates rebranded to Acrisure
8th December 2020
Beach & Associates, the reinsurance brokerage arm of Acrisure, is to be rebranded as Acrisure Re and Acrisure London Wholesale, the company has announced. The rebrand comes as part of Acrisure’s increasing focus on technology and artificial intelligence, and follows the recent acquisition of AI firm Tulco’s insurance assets. Beach was originally ... Read the full article
GIG under review following AXA acquisition
8th December 2020
AM Best has placed insurance group Gulf Insurance Group (GIG) and its subsidiary Gulf Insurance and Reinsurance Company under review with developing implications of their Financial Strength Rating of A (Excellent). The rating agency’s actions follows GIG’s acquisition of AXA's insurance operations in the Gulf region for $475 million. Last week, ... Read the full article
Lockton Re integrates Tremor’s pricing optimisation tech
8th December 2020
Global reinsurance brokerage, Lockton Re, has partnered with Tremor Technologies to deliver modern reinsurance trading capabilities to its clients, via the integration of Tremor's pricing optimisation technology into Lockton Re's SAGE platform. The reinsurance broker's SAGE proprietary software platform is designed to better help insurers understand risk impacts with a detailed ... Read the full article
Brit hires Group CFO Gavin Wilkinson from RSA
8th December 2020
Specialty re/insurer Brit has announced the appointment of Gavin Wilkinson as Group Chief Financial Officer. Wilkinson will start his new role in May 2021 and will also join the Executive Committee and Board of Brit. He joins the company from RSA where he has spent the last 10 years, most recently as ... Read the full article
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