Reinsurance News
The Hanover Insurance adds Theodore Bunting to board
3rd September 2020
The Hanover Insurance Group, Inc. has strengthened its board of directors with the addition of Theodore H. Bunting, Jr., effective September 1st, 2020. Most recently, Bunting served as Group President of the Utility operations at Entergy Corporation, an integrated energy firm engaged in electric power production and retail distribution, from 2012 ... Read the full article
Bermuda Monetary Authority appoints new Director within insurance unit
3rd September 2020
The Bermuda Monetary Authority (BMA) has announced the appointment of Gerald Gakundi to the position of Director Supervision within the insurance unit. Gakundi has over 15 years of experience in the insurance industry and has extensive knowledge of Bermuda’s insurance regulatory environment. In 2010, he joined the BMA as Assistant Director, Supervision ... Read the full article
Skuld appoints Naaman Jensen SVP, Head of NY operations
3rd September 2020
Leading marine insurer Skuld has appointed Åse Naaman Jensen to the role of senior vice president, head of Skuld New York. Naaman Jensen succeeds the retiring Charles Anderson and, to ensure a smooth transition, will work in parallel with him until she taking over full responsibility on 21 February 2021. Naaman Jensen ... Read the full article
Zurich UK names Tim Bailey as new CEO
3rd September 2020
The UK arm of global insurer Zurich has announced the appointment of Tim Bailey as Chief Executive Officer (CEO), succeeding Tulsi Naidu as she transitions to CEO of APAC for the Group. Bailey currently serves as Zurich's Chief Operating Officer (COO) for EMEA, and his appointment as UK CEO remains subject ... Read the full article
Global Parametrics renews Mexican reef cover, backed by Hannover Re
3rd September 2020
Global Parametrics, the parametric and index-based risk transfer startup, has led the renewal of a MXN 42.5 million (USD 1.9 Million) Mexican Reef Protection Program with reinsurance support from Hannover Re. Global Parametrics structured a parametric solution which pays out to support the restoration of a section of the Mesoamerican reef ... Read the full article
QBE Re combines Casualty Treaty teams to support growth
3rd September 2020
QBE Re, the reinsurance division of global insurer QBE, has announced the combination of its US and International Casualty Treaty reinsurance teams into one business unit. QBE Re London states that the establishment of a single Casualty Treaty reinsurance team is designed to enable a "unified market proposition" as the company ... Read the full article
UK Treasury launches review into Pool Re
3rd September 2020
The UK Treasury has announced the launch of its latest five-year review of Pool Re, the country’s government-backed terrorism reinsurer. The review will aim to ensure the good functioning of the UK’s terrorism re/insurance market, proper protection of public interests, and Pool Re’s proposed strategic direction for the next five years. It ... Read the full article
Pen Underwriting increases Lloyd’s cyber capacity to £55m
3rd September 2020
Pen Underwriting has renewed multiple binders with its consortium of Lloyd’s partners, enabling it to write in excess of £55m in cyber insurance premiums in the UK, US, Canada and New Zealand over the course of the next 12 months. This marks an increase of 15% on the previous year, and ... Read the full article
COVID-19 reinforces Lloyd’s need to modernise: AM Best
3rd September 2020
The COVID-19 pandemic has reinforced the importance of modernising Lloyd's and helped soften some of the cultural resistance to change, according to analysts at AM Best. As part of its execution plans for the first phase of strategy, Lloyd’s confirmed earlier this year that it was aiming to take a ... Read the full article
WCL bolsters London team with two new appointments
3rd September 2020
WCL, a provider of business solutions targeting electronic placement of risks, accounting and settlement and claims for the commercial re/insurance industry, has bolstered its client offering with two new additions to its team in London. Nick Waghorn has been appointed to the newly-created role of account manager and brings over 20 ... Read the full article
Twelve Capital announces corporate governance changes
3rd September 2020
Twelve Capital, an independent investment manager specialising in insurance investments, has announced a series of changes to its corporate governance structure. The new board composition is seen as a catalyst for the future growth of the group. Urs Ramseier, Founding Partner of Twelve Capital, has been appointed as Group Executive Chairman of ... Read the full article
New partnership sees Sompo’s agriculture platform expand into French crop market
3rd September 2020
Bermuda-based specialty property and casualty re/insurer Sompo International Holdings has announced that its global agriculture platform AgriSompo has entered into a strategic broking relationship with InVivo Group. InVivo Group is a national union of 201 member cooperatives representing more than half of all farmers in France. Working through InVivo's Bioline Insurance subsidiary, this ... Read the full article
Reinsurer capital raises unlikely to threaten favourable market conditions: Fitch
2nd September 2020
The flurry of meaningful capital raises in the reinsurance industry in the aftermath of the COVID-19 outbreak are not expected to hinder current favourable market conditions, according to analysis by Fitch Ratings. In Fitch's universe of global reinsurers, a combined $10.3 billion of capital has been raised since March 2020 as ... Read the full article
Marathon Service pension scheme completes £610m buy-in with Rothesay Life
2nd September 2020
The Marathon Service Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, enabling them to cover over 1,400 members. The transaction, which was initiated by the scheme’s sponsoring employer, RockRose Energy, has secured benefits for the 740 pensioners and 700 deferred members in the scheme. RockRose ... Read the full article
White Oak adds Lisa Perry as CUO
2nd September 2020
Specialist re/insurance underwriting agency White Oak has appointed Lisa Perry as Chief Underwriting Officer. Perry holds close to 30 years' experience in the industry and her most recent role was as Senior Underwriter at MS Amlin. This appointment will see her steer White Oak's underwriting strategy and develop existing business plans to generate ... Read the full article
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