Reinsurance News
Compre expands US operation with seven new hires
21st August 2023
Bermuda-headquartered Compre, an international legacy group, has announced the appointment of seven US claims specialists, effective immediately. To accommodate the new team members - all of whom will report to North America claims director Bill Bouvier - Compre has moved its US headquarters to new offices in Manchester, New Hampshire. The appointments ... Read the full article
Jan renewals highlighted difference between ‘available’ and ‘deployed’ capacity: AM Best
21st August 2023
“The January 2023 renewals highlighted the mismatch between supply and demand, but it’s also important to recognize the difference between ‘available’ and ‘deployed’ capacity. Available capital is not under pressure; however, the well-established global reinsurers have become much more cautious allocating their capital, which pressures the deployment of capacity,” suggests ... Read the full article
BMA & White Rock joint action violates automatic stay provision, says Vesttoo
21st August 2023
In a recent filing to the U.S. bankruptcy court, insurtech Vesttoo has said that joint action launched in the Supreme Court of Bermuda by the Bermuda Monetary Authority (BMA) and Aon's White Rock (SAC) Ltd. last week, violates the automatic stay under its Chapter 11 cases. On Friday, the BMA ... Read the full article
Venbrook & InterContinental Insurance Brokers bolsters private client services division
21st August 2023
InterContinental Insurance Brokers, LLC, a private client services division of Venbrook Insurance Services, has promoted Christopher D. Tannas to Senior Vice President/ National Director, and Mackenzie Rooney to Vice President. At the same time, the company has also appointed Marie Matterazzo as National Business Development Manager adding bench ... Read the full article
Ategrity launches professional lines practise led by Doug Karpp
21st August 2023
Ategrity Specialty Insurance Company, a specialty excess and surplus lines carrier, has launched a Management and Professional Liability business offering products designed for the needs of small- to mid-sized companies. These offerings are part of Ategrity’s broader evolution, since its inception in 2018, toward covering the middle market. Since 2022, the company ... Read the full article
IAG sees GWP rise 10.6% to $14.7bn in its FY results
21st August 2023
Australian insurer IAG has reported that Gross Written Premium (GWP) increased 10.6% to $14.7bn in its 2023 full year results, while insurance profit rose 37% to $803m. IAG noted that while the GWP increase was primarily due to premium rises in response to inflation pressures and higher reinsurance and natural perils ... Read the full article
Janice Mo to lead Chubb’s general insurance operations in Korea
21st August 2023
Property and casualty insurance giant Chubb has appointed Janice (Jae-Kyung) Mo to Country President of the company's general insurance business in Korea, subject to regulatory approval. Mo's appointment is expected to be effective September 1, 2023. In her new role, she will report to Paul McNamee, Regional President, Asia ... Read the full article
Catherine Thomas joins QBE’s Equator Re and Blue Ocean Re
21st August 2023
Catherine Thomas has become the new Managing Director for QBE Blue Ocean Re & Equator Re and International Treasurer. Equator Re is QBE’s Bermuda domiciled captive reinsurer, and Blue Ocean Re is the captive reinsurer for its North American operations. Thomas joins QBE from AM Best, a credit rating agency, where she ... Read the full article
CyRisk confirms participation in Munich Re Specialty’s cyber risk management program
21st August 2023
CyRisk, a cyber management and data analytics firm has officially announced its participation in Munich Re Specialty's Reflex Cyber Risk Management program. In the first quarter of 2023, Munich Re Specialty Insurance launched its proactive cyber risk management program offering complementary risk control services for its US insureds with CyRisk's team ... Read the full article
BrokerTech Ventures names Emily Schultz Managing Director
21st August 2023
BrokerTech Ventures (BTV), the industry's first broker-led convening platform and accelerator program, has announced the appointment of Emily Schultz as its new Managing Director. In her new role, Schultz will be responsible for setting and executing on the strategic direction of BTV to help advance innovation within the broker technology industry. She ... Read the full article
DUAL appoints Tricia Loney as Head of Specialty Casualty
21st August 2023
DUAL North America has announced the appointment of Tricia Loney as Head of Specialty Casualty. This hire comes in succession with the announcement of Connie Germano as the Chief Casualty Officer, to who Loney will be reporting. Loney's remit in the role will be being responsible for the long-term, sustainable profitability of ... Read the full article
Everest bullish on trajectory of reinsurance industry for 2023 and beyond: CEO
18th August 2023
Juan Andrade, Everest Group Chief Executive Officer, suggests the reinsurance industry serves as a "bright light" in terms of what's happening in capital markets right now, as the firm remains "bullish" on the industry's trajectory for this year and beyond. Andrade's comments stem from an interview with Bloomberg, in which he ... Read the full article
Bermuda’s BMA & Aon’s White Rock to jointly pursue insurtech Vesttoo in court
18th August 2023
The Bermuda Monetary Authority (BMA) and White Rock (SAC) Ltd., insurance and reinsurance broker Aon's segregated accounts and transformer vehicle, have launched action in the Supreme Court of Bermuda to pursue "maximum recovery" for re/insureds impacted by the alleged fraud linked to Vesttoo reinsurance deals. A statement released today by the ... Read the full article
Harford Mutual announces merger agreement with ClearPath Mutual
18th August 2023
Harford Mutual Insurance Group has announced that it has received final approval from the Maryland Insurance Administration of the merger agreement with ClearPath Mutual Insurance Company, a monoline workers' compensation carrier headquartered in Louisville, Kentucky. According to Harford Mutual, post-merger, ClearPath Mutual will be renamed Clearpath Insurance Company and marketed as ... Read the full article
Arch partners with Kalepa to enhance underwriting with Copilot platform
18th August 2023
In a strategic move towards technological innovation and superior underwriting, Arch Insurance North America (Arch) has expanded its collaboration with insurtech leader Kalepa. The company has announced the wider deployment of Kalepa's groundbreaking underwriting workbench, Copilot, to drive efficient and high-quality underwriting processes across Arch's E&S Casualty book of business. Kalepa's Copilot ... Read the full article