Reinsurance News
Long-term mortality improvement trends for insurance in the near future: Swiss Re
26th May 2023
Swiss Re is forecasting long-term mortality improvement trends for insurance. The company’s latest report, “The Future of life expectancy” shows that although, gains in human longevity have tapered off over the last decade, the next wave of improvements is on its way. Life expectancy improvements typically come in waves following major ... Read the full article
IQUW’s Hannah Wyatt joins Argenta to build out property portfolio
26th May 2023
Argenta Syndicate Management Limited (ASML) has appointed Hannah Wyatt as Direct and Facultative property underwriter, US & International. In her new role, based in London, Wyatt will be responsible for growing Argenta’s direct and facultative open-market property (D&F) business. According to the announcement, she will take up her role later this year ... Read the full article
Pacific Life Re names Matt Logan as VP of Finance for Europe Business Unit
26th May 2023
Pacific Life Re, a global provider of mortality, morbidity, and longevity reinsurance solutions, has appointed Matt Logan as its new VP, Finance in the Europe Business Unit. Logan will join Pacific Life Re Europe's Finance team and play a crucial role in supporting the company in delivering core reporting while driving ... Read the full article
FTI Consulting & BHB Dullemond set to expand M&A services in the Netherlands & Belgium
26th May 2023
FTI Consulting, Inc., a global business advisory firm, and BHB Dullemond, a Dutch corporate finance firm that specialises in transactions in insurance distribution, have announced a strategic alliance to provide M&A services to the insurance distribution sector in the Netherlands and Belgium. Through this alliance between the two companies, clients in ... Read the full article
KCC selected by SynchronoSure for risk modeling applications
26th May 2023
Karen Clark & Company (KCC) has announced that the Synchrono Group (SynchronoSure) has licensed KCC’s full suite of US catastrophe models, delivered through the company’s new and advanced underwriting application. The new tool is powered by KCC’s high-resolution modelling analyses that drive the underwriting and decision-making processes for complex commercial policies. The ... Read the full article
Asta announces key appointments to strengthen leadership team
26th May 2023
Lloyd’s third-party managing agent Asta appointed Seema Bradbury as Chief Risk Officer, while Liz Catchpole joins as an independent Non-Executive Director and Chair of the Audit Committee. These appointments follow strategic board changes made last year as part of Asta's long-term succession planning. With over two decades of experience in the London ... Read the full article
NOAA forecasts near-normal 2023 Atlantic hurricane season
25th May 2023
The National Oceanic and Atmospheric Administration (NOAA) has forecast a near-normal level of activity during the 2023 Atlantic hurricane season, which officially commences on June 1st, 2023. For the upcoming Atlantic hurricane season, the NOAA says that there's a 40% chance of a near-normal season, a 30% chance of above-average activity, ... Read the full article
Kin completes $860 million nat cat reinsurance program
25th May 2023
Homeowners insurtech Kin Insurance has announced the successful completion of its reinsurance program for the Kin Interinsurance Network in Florida. The program, covering the period from June 1, 2023, to May 31, 2024, offers extensive coverage of $860 million for natural catastrophes. This reinsurance initiative provides protection up to a one-in-200 year ... Read the full article
SCOR announces NZIA withdrawal and new sustainability commitments
25th May 2023
Global insurer SCOR is withdrawing from the Net-Zero Insurance Alliance (NZIA), CEO Thierry Léger announced during the company’s most recent Annual General Meeting. Léger also announced SCOR’s new sustainability commitments which include a new policy on gas among others. This states that the reinsurer will no longer cover new gas field development ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
OdysseyRe names Christopher Shafer as Head of North American Cyber Underwriting
25th May 2023
Odyssey Reinsurance Company (OdysseyRe) has announced the appointment of Christopher Shafer as the Vice President and Head of North American Cyber Underwriting. Shafer will be responsible for assisting the company's business partners in effectively addressing cyber risk, both on a facultative and treaty basis. Brian Quinn, OdysseyRe's North American CEO, expressed his ... Read the full article
Global Atlantic and MetLife sign $19.2 billion reinsurance agreement
25th May 2023
Leading financials services company Global Atlantic Financial Group and life insurer MetLife, Inc. have entered into a reinsurance agreement valued at $19.2 billion. The deal will see Global Atlantic reinsuring a diversified portfolio of MetLife's U.S. retail annuity and life insurance business, reinforcing Global Atlantic's position as a leading reinsurer in ... Read the full article
Beazley & Arbol launch parametric weather products for the US market
25th May 2023
Arbol, a global climate risk solutions platform, and leading insurer, Beazley, have announced the launch of specialist parametric weather products to the US market. With the launch this now means that cutting-edge products are available for a range of perils, including low and excess precipitation, low and excess wind speed, high ... Read the full article
UNEP needs to make NZIA membership rules less prescriptive or risk falling apart says John Neal to Reuters
25th May 2023
A global climate alliance for insurers needs to make its membership rules less prescriptive or risk falling apart, John Neal, the Chief Executive of Lloyd’s of London told Reuters. With some major re/insurers having withdrawn from the Net-Zero Insurance Alliance (NZIA), the United Nations Environment Programme (UNEP) has stated that there’s ... Read the full article
Brokerslink announces Regional Manager appointments in key regions
25th May 2023
International broking business Brokerslink has announced the appointment of three new Regional Managers for its network, reinforcing its presence in key regions across the globe. The new Regional Managers are Doosuk Kang in the Asia-Pacific region, Dov Rychter in Europe and Walid Nehme in the Middle Eastern region. They will be responsible ... Read the full article
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