Reinsurance News

Karen Green & Michael Watson join Council of Lloyd’s

1st December 2020

Insurance and reinsurance marketplace Lloyd’s of London has announced the election of two new corporate external members to the Council of Lloyd’s. Asta Corporate Member Limited, represented by Karen Green, and Flectat Limited, represented by Michael Watson will both commence their terms on December 1st, 2020. Asta and Flectat won the most ... Read the full article

Twelve Capital’s Dr. Rodney calls for greater modeller, insurer collaboration

30th November 2020

Dr. Jamie Rodney, Executive Director of ILS Analytics at investment manager Twelve Capital, has called for more extensive collaboration between risk managers and catastrophe modellers. Dr. Rodney's comments came during our recent Prospectus 2021 conference, and delved into the work Twelve Capital has been doing to better understand hurricane risk ... Read the full article

Neptune Flood expands products to remaining five US states

30th November 2020

Neptune Flood, an insurtech firm focused on the flood market, has expanded its residential products to the remaining five additional states, Montana, South Dakota, Utah, Vermont, Wyoming, and Washington, DC. The expansion completes the company's nationwide rollout of all residential, commercial and RCBAP flood insurance products. The insurer also completed its proprietary ... Read the full article

HDI Global renews underwriting partnership with AMANIKI

30th November 2020

Global re/insurer, HDI Global Specialty SE has renewed its underwriting agency agreement with German M&A insurance specialist MGA, AMANIKI. Under the terms of the agreement, AMANIKI will be moving from a co-insurance panel of capacity providers to a 100% exclusive binder with HDI Global Specialty. The Frankfurt based MGA was formed in ... Read the full article

Legacy specialist Compre to be acquired by Cinven and BCI

30th November 2020

Private equity firm Cinven and British Columbia Investment Management Corporation (BCI) have reached an agreement to purchase legacy acquirer, Compre, from existing shareholders CBPE Capital LLP, Hudson Structured Management Limited, and Compre's management. Following the transaction, Cinven and BCI will become majority shareholders alongside Compre's management team, led by Chief Executive ... Read the full article

Obsidian hires CUO Andrew Aldorisio from SCOR

30th November 2020

Obsidian Insurance Holdings, Inc., a program fronting insurance holding company recently launched by Genstar Capital and insurance industry executives, has appointed Andrew Aldorisio as its Chief Underwriting Officer (CUO). Most recently, Aldorisio served as Vice President, Program Business at SCOR, where he managed casualty and professional lines programs and led ... Read the full article

Uncertainty diminishing ahead of “complex” 1/1 renewals: GC

30th November 2020

Guy Carpenter (GC), the reinsurance arm of global brokerage Marsh, has warned that the upcoming January 2021 renewals will be uniquely “complex” due to the manifold challenges in the market this year. However, the broker added that re/insurers seem “ready to respond” to these complexities, and noted that some areas of ... Read the full article

Aviva wraps up £875mn buy-in deal with staff pension scheme

30th November 2020

The Aviva Staff Pension Scheme has completed a £875 million buy-in with Aviva Life & Pensions UK that covers the liabilities of roughly 2,800 members. Advised by Hymans Robertson, this is the second buy-in with Aviva following a £1.7bn deal in 2019 and a £5bn longevity swap in 2014. This latest ... Read the full article

Zurich makes appointments to life executive team

30th November 2020

Global insurer Zurich has appointed Louise Colley to lead its individual protection business and join its life executive team as Head of Retail Protection on the 1st of December. Colley has over 15 years of experience in insurance, and joins from Aviva where she held multiple roles including Managing Director (Protection) ... Read the full article

Lloyd’s syndicate Ki binds first risk with AmWINS’ THB

30th November 2020

Ki, the fully digital and algorithmically-driven Lloyd’s of London syndicate, has revealed that it has now bound its first risk with THB, the international broking arm of AmWINS Group, Inc. The risk was bound by the Brit and Google Cloud backed Ki on its fully-aligned Lloyd's Syndicate 1618, with Ki's line ... Read the full article

Swiss Re targets nat cat portfolio growth with ILS fund launch

30th November 2020

Reinsurance giant Swiss Re is looking to expand its risk-sharing platform and strengthen its strategic partnership with third-party capital providers with the launch of a new standalone fund company, which enables investors to access the firm's natural catastrophe business. Swiss Re Insurance-Linked Investment Management Ltd (SRILIM), a subsidiary of Swiss Re, ... Read the full article

VIG to acquire Aegon’s Central and Eastern European operations

30th November 2020

Aegon, a provider of life insurance, pensions and asset management, has reached an agreement to sell its Central and Eastern European operations to Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) for €830 million. The net proceeds represent a multiple of 2.6 times the book value on June 30th, 2020, and ... Read the full article

We need to learn to adapt, says Flood Re’s Andy Board

30th November 2020

Andy Bord, Chief Executive Officer of Flood Re, the UK government backed flood insurer, has called for a review on how policies and flood models are managed. He believes that a more all-encompassing approach to flood risk management will become more effective flood defences and into the wider built environment. Controlling flood ... Read the full article

AXA agrees to sell insurance operations in the Gulf region

30th November 2020

Global insurer AXA has entered into an agreement to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company, and AXA Green Crescent Insurance Company, to Gulf Insurance Group (GIG). Under the terms of the arrangement, AXA will sell its stake in ... Read the full article

Above normal fire conditions forecast for Australian summer

30th November 2020

The Bushfire and Natural Hazards Cooperative Research Centre (CRC) is forecasting above normal fire conditions for large parts of Australia this summer, following heightened rainfall in recent months. A new report by the CRC notes that the landscape of weather conditions will be “vastly different” this year, as Australia’s climate is ... Read the full article

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