Reinsurance News

Howden Re hires Tan from Aon as Director, ASEAN Treaty & Retro

5th October 2022

Howden Re, the reinsurance arm of the global broking group, has hired Doreen Tan from Aon Reinsurance Solutions Asia as Director, ASEAN Treaty / Retrocession, based in Singapore and reporting to Stephen Warwick, Head of Treaty for Asia Pacific. In her new role, Tan takes on responsibility for servicing clients and ... Read the full article

9M catastrophe bond issuance above-average: Report

5th October 2022

Catastrophe bond and related insurance-linked securities (ILS) issuance was particularly quiet in the third-quarter of 2022, but combined with a solid first-half of the year for the market, helped issuance for the nine-month period come in above-average at more than $8.9 billion, reports Artemis. The Q3 2022 ... Read the full article

HDI names Simon Hunt as CFO for UK & Ireland

5th October 2022

HDI Global has appointed Simon Hunt to be the CFO for its UK and Ireland branch. Hunt will take on his role immediately. He is currently CFO of the UK branch of HDI Global Specialty. He will now be responsible for both HDI Global UK & Ireland branch (HDIG) and HSUB ... Read the full article

Reinsurer earnings hit by interest rates & hurricane activity: DBRS Morningstar

5th October 2022

Despite lower combined ratios, global reinsurers' overall profitability declined significantly in H1 of 2022, primarily reflecting higher interest rates that adversely affected equity and bond valuations, and the mounting pressure of the ongoing Atlantic hurricane season, says DBRS Morningstar. According to the report, global reinsurers performed significantly worse compared with the ... Read the full article

Ardonagh Europe completes acquisition of Léons Group, in the Netherlands

5th October 2022

Ardonagh Europe, a subsidiary of The Ardonagh Group, has completed its acquisition of Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. The acquisition was originally announced in July earlier this year. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons Group specialises in full-service ... Read the full article

ESG factors to play a larger role in the future of underwriting

5th October 2022

Leading insurance broker Marsh has released data from a survey of 30 insurers representing a significant cross-section of the UK insurance market, exploring how ESG factors are being used to assess clients’ risk profiles and the extent to which this trend might accelerate. The survey found that all respondents confirmed that ... Read the full article

USQRisk appoints Chief Marketing & Business Development Officer for Desq

5th October 2022

International MGA USQRisk has named Lael Chappell the chief marketing and business development officer of Desq. Desq is a specialty accelerator platform established to empower entrepreneurial underwriters to launch and manage their own MGAs. Chappell has a wide range of experience in underwriting, leveraging strategic partnerships and promoting change within the industry, ... Read the full article

Jencap acquires Tarheel Insurance Services

5th October 2022

Jencap Group has announced that it has agreed to acquire the assets of Tarheel Insurance Services, Inc., a full-service specialty workers’ compensation wholesale brokerage based in Statesville, NC. Tarheel is set to operate under the auspices of the Jencap Insurance Services Inc. (JCIS) division. Bruce Peddle, President of JCIS, commented, “Tarheel provides ... Read the full article

Inflation could “absolutely dominate” reinsurance outlook: PwC’s Bichard

4th October 2022

Jim Bichard, Global Insurance Leader for PwC, has warned that inflationary challenges could “absolutely dominate” the insurance and reinsurance landscape in the near future. Speaking to Reinsurance News at the recent RVS 2022 event in Monte Carlo, Bichard identified the main trends under discussion as the scarcity of available reinsurance capacity ... Read the full article

Mosaic adds excess tech E&C coverage to cyber product offering

4th October 2022

Mosaic Insurance’s cyber division has launched excess capacity and coverage for a new product aimed at protecting technology sector companies from rapidly emerging liability risks. The insurer now offers excess technology errors and omissions (E&O) as companion cover to cyber for businesses ranging from AI, virtual reality, edtech, and IT consulting ... Read the full article

Severe weather events pose uncertainty for US homeowners segment: AM Best

4th October 2022

According to a new report from AM Best, the US homeowners insurance segment could come under pressure with 2022 results expected to be impacted by Hurricane Ian. The hurricane, which made landfall Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155 mph near ... Read the full article

Berkley Re UK appoints Daniel Keshav as Head of Casualty Treaty

4th October 2022

Berkley Re UK, part of W.R. Berkley Corporation, has promoted Daniel Keshav from Deputy Head of Casualty Treaty, a role he held for over three years, to Head of Casualty Treaty. Keshav has over 25 years of experience in the industry. Prior to joining Berkley Re UK in 2019 he spent ... Read the full article

Berkshire (BHSI) names North American claims leaders

4th October 2022

Berkshire Hathaway Speciality Insurance (BHSI) has announced that it has appointed several claims executives to new roles within its North American region. Among the new appointments is Rob Romeo, who has been named Head of Claims, North America. Romeo has over two decades of industry experience and was previously Senior Vice ... Read the full article

Hurricane Ian will change the Florida re/insurance market landscape: RMS

4th October 2022

According to the Chief Risk Modelling Officer at RMS, Mohsen Rahnama, Hurricane Ian has the potential to be one of the largest, if not the largest, insured catastrophe losses in US history, with implications for both the Florida, reinsurance, retrocession, and ILS markets. Hurricane Ian made landfall on Wednesday the 28th ... Read the full article

Aon adds industry expert Katherine Kuehn as MD, Cyber Solutions

4th October 2022

Insurance and reinsurance broker Aon has hired Katherine Kuehn from vArmour as Managing Director (MD) within its Cyber Solutions division, where she will build upon her network to develop and provide innovative solutions in the cyber risk space. In her new role, Kuehn will leverage her network of key cyber, government ... Read the full article