Reinsurance News
Enstar ups bid for Watford to $686mn, threatens legal action over Arch deal
15th October 2020
Legacy acquirer Enstar has written to the board of Watford Holdings offering a revised acquisition offer of $686 million, as well as strongly criticising its handling of previous takeover attempts and subsequent agreement with Arch. It was confirmed earlier this week that Arch had reached an agreement with Watford to ... Read the full article
Cincinnati estimates $266mn Q3 catastrophe hit
15th October 2020
Primary insurer Cincinnati’s third-quarter results are expected to include pretax catastrophe losses of approximately $266 million. This figure represents an impact on the company’s Q3 combined ratio of approximately 18.3%, based on estimated property casualty earned premiums. In August, a midwest derecho caused approximately $103 million of losses, after an estimated reinsurance ... Read the full article
MetLife announces series of key leadership changes
15th October 2020
Life insurer MetLife has announced a series of changes to its senior leadership team, including the retirement of Latin America executive vice president and president Oscar Schmidt. Schmidt departs after a 26-year career with the company. He will step away from his executive position at the end of the year but will stay ... Read the full article
September wildfires push Allstate’s Q3 cat bill to $990mn
15th October 2020
US primary insurer Allstate has revealed that it incurred estimated pre-tax catastrophe losses of $990 million over the third quarter of 2020, or $782 million after tax. The company put its September cat losses at $339 million ($268 million, after-tax), which added on to losses of $651 million ($514 million, after-tax) ... Read the full article
Munich Re adds Stefan Golling to Board
15th October 2020
Munich Re has announced the appointment of Stefan Golling to its Board of Management. Golling will be succeeding Peter Röder’s position in Management of the Global Clients and North America Division. Röder has chosen to step down from December 31st after 30 years at Munich Re, 14 of which he spent on the ... Read the full article
AXIS Re expands NA Casualty team with two new underwriters
15th October 2020
AXIS Re, the reinsurance arm of Bermuda-based AXIS Capital Holdings Limited, has added Lydia LaSalata and Matthew Trinkle to its North American Casualty operation. LaSalata's appointment is effective October 15th, 2020 and she joins the reinsurer as a Senior Underwriter for Professional Liability. She joins AXIS Re from Safety National Re, ... Read the full article
Suncorp adds Jimmy Higgins as CEO, New Zealand
15th October 2020
Australian insurer Suncorp has announced the appointment of Jimmy Higgins as Chief Executive Officer of Suncorp New Zealand. Higgins has been with Suncorp since 2008, holding a range of senior and executive roles across the Australian and New Zealand insurance businesses. Prior to Suncorp, he was a chartered accountant specialising in audit ... Read the full article
Tara Foley named CEO of AXA UK Retail Insurance
15th October 2020
AXA UK & Ireland has announced the appointment of Tara Foley as Chief Executive Officer (CEO) of AXA UK Retail Insurance. Effective November 2nd, Foley’s appointment will also see her become a member of the UK & Ireland Management Committee. Foley joins AXA from Lloyds Banking Group (LBG), where she has been ... Read the full article
Aspen recruits Head of AIUK and AMAL Claims from Hiscox
15th October 2020
Bermuda-based insurer and reinsurer Aspen Insurance Holdings Limited has announced the appointment of Tony Rai as Head of Aspen Insurance UK (AIUK) and Aspen Managing Agency Limited (AMAL) Claims. Rai will join Aspen in early 2021 from Hiscox, where he has been Head of London Market Claims since 2009. In this role ... Read the full article
QBE International (Insurance) CUO Colin O’Farrell to retire
15th October 2020
Australian insurer and reinsurer, QBE, has announced that the Chief Underwriting Officer (CUO) of Insurance for QBE International, Colin O'Farrell, is to retire from the company at the end of 2020. O'Farrell's career spans 36 years, 34 of which have been spent with QBE. During this time, he has led the ... Read the full article
Cohen & Co’s IAC completes merger with Shift Technologies
15th October 2020
Insurance Acquisition Corp. (IAC), a subsidiary of Cohen & Company Inc., has completed its previously announced merger agreement with automotive e-commerce firm, Shift Technologies Inc. The business combination, which was approved on October 13th by INSU’s stockholders, provides Shift with approximately $300 million, net of fees and expenses. Shift is an ... Read the full article
Marsh hires new US Cyber Incident Management Leader
15th October 2020
Global insurance and reinsurance broker, Marsh, has announced the appointment of Katherine Keefe as US Cyber Incident Management Leader. In this newly created role, Keefe will be responsible for leading the broker's efforts to assist clients responding to and managing cyber events, including data breaches and ransomware attacks, whilst giving advice ... Read the full article
APCIA adds Amerisure, Travelers CEOs to board
15th October 2020
The American Property Casualty Insurance Association of America (APCIA) has added new officers to its board of directors. Greg Crabb, president and Chief Executive Officer of Amerisure Companies has been elected as APCIA’s chair while Alan Schnitzer, chairman and CEO of The Travelers Companies, joins as chair-elect. Both appointments are effective on January ... Read the full article
R&Q’s Accredited in new program partnership with Attune
15th October 2020
Accredited Surety & Casualty Company, Inc., a wholly owned subsidiary of Randall & Quilter Investment Holdings Ltd., has entered into a program underwriting partnership with Attune Insurance. Attune is a program administrator with specific experience in commercial insurance programs, and currently manages a BOP program with more than $100 million in ... Read the full article
Lockton Re adds Guy Carpenter’s Andy Massingham as a Senior Broker
15th October 2020
Lockton Re, the reinsurance arm of global brokerage Lockton, has announced that appointment of Andy Massingham as a Senior Broker, based in the London office, as part of the firm's Marine & Energy Division. Massingham joins Lockton Re from rival brokerage Guy Carpenter, where he most recently served as a Managing ... Read the full article
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