Reinsurance News
Enstar inks $420mn reinsurance deal with Liberty Mutual
7th December 2020
Legacy acquirer Enstar Group Limited has entered into a new reinsurance deal with Liberty Mutual Insurance Europe SE (LMIE) that will see it assume approximately $420 million of legacy business. Under the terms of the agreement, Enstar will reinsure a number of insurance portfolios that were previously written out of LMIE’s ... Read the full article
Aspen Re America names Head of Professional Lines
7th December 2020
Aspen Re, the reinsurance segment of Aspen Insurance Holdings Limited, has announced the appointment of Ana Cifuentes as Head of Professional Lines for Aspen Re America, effective December 9, 2020. As Head of Professional Lines, she will be responsible for building and growing product offerings for Aspen Re America. Cifuentes most recently ... Read the full article
CRC set to acquire Continental Underwriters
7th December 2020
Specialty insurer CRC Group has reached an agreement to acquire Continental Underwriters, a provider of primary marine, excess marine liabilities, ocean cargo, and inland marine insurance. The acquisition is expected to close later this year and will see Continental become part of CRC Group’s Programs Division. CRC Group and Continental Underwriters will ... Read the full article
Cowbell Cyber expands insurance program to 31 states
7th December 2020
Cowbell Cyber, a startup leveraging Artificial Intelligence (AI)-powered cyber insurance for small to mid-sized businesses, has expanded its admitted cyber insurance program to 31 US states. Cowbell Prime will now be available to businesses in a majority of states in the US, regardless of size and industry. According to Cowbell Cyber, the ... Read the full article
HX announces launch of capital markets advisory practice
7th December 2020
HX, the data and analytics division of Howden Group, has announced the launch of a new capital markets advisory practice. Howden Capital Markets (HCM) will provide Howden clients with further access to investment capital which, alongside traditional insurance capacity, can result in lower risk transfer costs and superior outcomes. The company’s services ... Read the full article
R&Q’s new E&S carrier eyes new business following AM Best rating
7th December 2020
Randall & Quilter’s executive chairman William Spiegel has underlined the ambitions of newly established Excess & Surplus lines carrier Accredited Specialty Insurance (ASI), after the firm secured its ratings from AM Best. ASI has been assigned a Financial Strength Rating of A- (Excellent), a Financial Size Category of IX, and a ... Read the full article
Global reinsurance outlook remains stable: AM Best
7th December 2020
Rating agency AM Best has maintained a stable outlook on the global reinsurance industry for 2021, as positive pricing momentum and tighter terms and conditions continue to offset negative factors. Analysts currently believe that market hardening will continue for at least two more years, which should help to balance against uncertain ... Read the full article
Beazley adds Chris Hill to US marine team
7th December 2020
Specialist insurer Beazley has announced the appointment Chris Hill as an underwriter within its US marine team. Based in New York, Hill will underwrite a US-wide book of marine hull and liability risks. He joins Beazley from Berkley Offshore Underwriting Managers where he spent more than seven years, most recently as vice ... Read the full article
Sompo Int. hires Haney for two exec agri roles
7th December 2020
Sompo International has appointed Robert Haney as Executive Chairman of AgriSompo and Chief Executive Officer (CEO) of AgriSompo North America. Haney will be reporting to Christopher Sparro, CEO, US Insurance for Sompo International. His appointment illustrates Sompo International’s investment in and commitment to the crop insurance market in the US and around ... Read the full article
Swiss Re’s Kleiterp urges re/insurers to share tech insights
7th December 2020
Fred Kleiterp, Regional CEO for the EMEA region at Swiss Re Corporate Solutions, has expressed optimism about the prospects for the global re/insurance industry if it is able to “work together and share technology to innovate.” Kleiterp noted that re/insurers currently face significant challenges in trying to quantify risks in parts ... Read the full article
Guy Carpenter names Pietro Toffanello as Head of Japan
7th December 2020
Guy Carpenter, the global reinsurance broking arm of Marsh, has announced the appointment of Pietro Toffanello, formerly of Gen Re, as Head of Japan, effective Q1 2021. In his new role, Toffanello takes on responsibility for managing the broker's business activities across Japan, reporting to Tony Gallagher, Chief Executive Officer (CEO) ... Read the full article
Guernsey implements fast-track pre-authorisation for insurance cells
7th December 2020
Guernsey’s financial regulator has introduced a pilot scheme to fast-track pre-authorisation for insurance cells, set to run until the end of 2021. The new scheme by the Guernsey Financial Services Commission (GFSC) will permit the ‘just-in-time’ creation of new captive cells in existing protected cell companies. “We are happy to work with ... Read the full article
Maiden sets up Genesis Legacy Solutions unit
4th December 2020
Bermuda-based re/insurer Maiden Holdings has announced the formation of a new legacy solutions unit that will specialise in providing services to small US insurance entities. Genesis Legacy Solutions (GLS) will focus in particular on clients in run-off or with blocks of reserves that are no longer core. The Genesis team will be ... Read the full article
Aviva appoints Winslow as CEO of International
4th December 2020
London-headquartered insurer Aviva has appointed Adam Winslow as CEO of International. In this newly-created role, Winslow will be reporting to Amanda Blanc and will also be joining the Group Executive Committee. Winslow will join Aviva in January and will be responsible for Aviva’s international businesses in continental Europe and Asia. He has two ... Read the full article
Chubb & Nubank launch digital life offering in Brazil
4th December 2020
Global re/insurer Chubb has announced a new digital life offering in Brazil, launched in partnership with digital bank and fintech firm Nubank. The offering, called Nubank Vida, is underwritten by Chubb and will be made available to Nubank’s 30 million customers across Brazil. Basic coverage includes natural or accidental death and funeral ... Read the full article
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