Reinsurance News
RSG consolidates underwriting management businesses
25th November 2020
RSG Underwriting Managers, has consolidated two of its current managing underwriting manager businesses, Trident Marine Managers and Global Special Risks (GSR). Both managing general underwriting companies will keep their name brands and will fall under the newly created Marine and Traditional Energy Practice run by Jorge Pecci, RSG Underwriting Managers Marine ... Read the full article
Munich Re’s HSB Canada releases Sensor System program
25th November 2020
Munich Re’s HSB Canada has introduced Sensor Systems, a solution created for insurers to reduce common property claims. The program aims to monitor, predict and alert customers to risks such as water leaks, pipe freezing and critical temperature changes. John Mulvihill, president and chief executive officer of HSB Canada commented: “Water is ... Read the full article
Argo received $30m for Ariel Re sale
25th November 2020
Specialty insurer and reinsurer, Argo Group International Holdings Ltd., has confirmed that it received $30 million at the closing of its sale of Ariel Re to private equity investors Pelican Ventures and J.C. Flowers & Co. It was announced earlier today that the two private equity investors have now completed ... Read the full article
Charles Taylor appoints Head of Canada
25th November 2020
Technology solutions provider Charles Taylor has promoted Michael Guy and Dallas Hirsche to the positions of Managing Director and Regional Head of Canada, and Deputy Managing Director and Deputy Regional Head of Canada, respectively. These appointments are the result of the continued growth of Charles Taylor’s Canadian Adjusting business and its ... Read the full article
Goosehead hits $1bn premium milestone
25th November 2020
Goosehead Insurance, an independent personal lines insurance agency, has surpassed $1 billion in total premium placed for the trailing twelve months ending October 31, 2020. “This is an important and gratifying milestone for our firm as we progress towards our long-term goal of US personal lines industry leadership,” said Mark E ... Read the full article
Strategic Risk Solutions names COO of Fund Services & ILS
25th November 2020
Insurance management and consulting services provider Strategic Risk Solutions (SRS) has appointed Matthew Charleson as Chief Operating Officer (COO) of Fund Services and ILS, effective December 7th. Based in Bermuda, Charleson will be responsible for further developing and implementing SRS’s services within the ILS sector in key jurisdictions, including Bermuda, Cayman, ... Read the full article
Berkshire (BHSI) appoints Lauren Finnis to new VP role
25th November 2020
Berkshire Hathaway Specialty Insurance Company, the insurance arm of Warren Buffett's global insurance and reinsurance company, has appointed Lauren Finnis as Vice President, Customer & Broker Engagement, for the Central Region based in Chicago. Previously, she was Vice President of Customer & Broker Engagement for the Eastern Region. Finnis, who has over ... Read the full article
Kovrr adds Lorenzo Sargenti to advisory board
25th November 2020
Cyber risk modelling firm Kovrr has announced the addition of Lorenzo Sargenti to its advisory board. Sargent formerly served as Managing Director of Client Development at RMS. As part of the advisory board, he will play an instrumental role in guiding Kovrr through client and market development initiatives, providing cyber risk modelling ... Read the full article
Third Point Re shareholders approve Sirius merger
25th November 2020
Hedge fund backed reinsurer Third Point Re and multi-line re/insurer Sirius Group have gained key approvals from shareholders that will enable them to proceed with their planned merger agreement. At a Third Point Re special general meeting, the shareholders approved the issuance of Third Point Re common shares to Sirius Group ... Read the full article
Willis Re adds Hick as a Director within Australian business
25th November 2020
Willis Re has announced the appointment of Cameron Hick as a Director in its Australian business. Hick will focus on client advocacy, delivering strategic advice, structuring assistance. He will also work towards strengthening Willis Re's relationships with the global reinsurance community. Commenting on the appointment, John Philipsz, CEO of Willis Re Australia said, ... Read the full article
Praedicat and Lloyd’s Lab develop risk model for casualty insurers
25th November 2020
Lloyd’s Lab and risk modelling firm Praedicat have developed a series of scenarios for the casualty insurance market in the face of the COVID-19 pandemic. The scenarios are designed to help insurers that have a clash risk from COVID-19 that impact general liability and directors & officers (D&O) lines within an ... Read the full article
Broad optimism over second wave losses, reinsurers could take bigger hit
25th November 2020
Barclays analysts expect this second wave of COVID-19 to incur less cost for European insurers than what was initially seen during the first half of 2020. Analysts note how positive vaccine news, further political clarity in the US, stabilised yields and the latest COVID loss estimates create a positive backdrop for ... Read the full article
Argo completes sale of Ariel Re to Pelican Ventures and J.C. Flowers
25th November 2020
Private equity investors, Pelican Ventures and J.C. Flowers & Co., have completed their previously announced acquisition of Ariel Re from Argo Group International Holdings. Founded in 2005, Ariel Re had been part of Argo Group since 2017. The company underwrites a global portfolio of reinsurance solutions in Bermuda, London and ... Read the full article
CCRIF payout to Nicaraguan government totals $10.7mn
25th November 2020
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is due to make a payout of $10.7 million to the Government of Nicaragua following the aftermath of Tropical Cyclone Eta. CCRIF has made an advance payment of $3.7 million to the Government of Nicaragua, with the remainder to be paid by November 19, ... Read the full article
Atlas finalises sale of renewal rights to NATL
25th November 2020
US-based commercial auto insurer, Atlas Financial Holdings has announced that the renewal rights to its agreement to sell its Large Paratransit Accounts to National Interstate Insurance Company (NATL), which was previously announced in July 2020, has been finalised. Following the agreement, Atlas and NATL will work together to transition the handling ... Read the full article
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