Reinsurance News
Fitch Ratings expects fewer COVID-19 related claims
26th November 2020
A recent report from Fitch Ratings shows the rating agency is expecting Tokio Marine Holdings, MS&AD Insurance Group Holdings and SOMPO Holdings to reserve fewer COVID-19 related claims. This is due to their overseas subsidiaries tightening underwriting and narrowing policy wording in regards to any event cancellation and business interruption. Major European ... Read the full article
Global Parametrics’ new Water Balance Index deployed in India, Tanzania
26th November 2020
Parametric and index-based disaster risk transfer firm Global Parametrics has structured two risk transfer solutions designed to enable partners to provide drought and excess rainfall protection for smallholder farmers in India and Tanzania. The company leveraged a new multi-scalar meteorological index that uses monthly cumulative rainfall and potential evapotranspiration to estimate ... Read the full article
Lloyd’s post-brexit hub gets final High Court approval
25th November 2020
Lloyd’s of London has received final approval from the High Court of England and Wales to transfer European Economic Area policies to its Belgium-based subsidiary. The establishment of Lloyd's Europe was first announced in the wake of Britain’s vote to leave the EU, driven by an absence of clarity around the consequences ... Read the full article
General Motors launches OnStar Insurance Services
25th November 2020
General Motors has launched its new insurance agency, OnStar Insurance Services, which will be the exclusive agent for its own OnStar Insurance company. OnStar Insurance Services has been created to achieve a better understanding of the vehicles GM produces, in order to offer a personalised digital insurance experience for drivers. Andrew Rose, ... Read the full article
Aston Lark-backed MGA Spring Partners launches, acquires Neon Sapphire
25th November 2020
Spring Partners, a joint venture from broker Aston Lark, has announced its formation as a Managing General Agent platform. Spring Partners, led by CEO Jeremy Miles and Chairman Russell Kilpatrick, has been created to invest in and create new MGAs. “We are excited to be launching Spring Partners, aligning quality capacity with ... Read the full article
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
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