Reinsurance News
Risk Strategies unveils new cyber risk management service offering
13th July 2023
Insurance brokerage and risk management firm, Risk Strategies, has unveiled its Cyber Risk Management Platform (RMP), a new cyber risk management service offering that "goes beyond" providing clients with external vulnerability scans to recommend practical ways to shore up cyber defences. According to the announcement, the new solution is powered in ... Read the full article
SiriusPoint names Thomas Leonardo as Global Head of Accident & Health
13th July 2023
Specialty insurer and reinsurer SiriusPoint has appointed Thomas Leonardo as Global Head of Accident & Health (A&H), effective immediately. According to SiriusPoint, Leonardo has worked in the group life and health industry since 1994, specialising in underwriting, pricing, and management of all aspects of accident and health insurance and reinsurance. He began ... Read the full article
AXA acquires Groupe Assurances du Crédit Mutuel España
13th July 2023
Global insurer AXA has announced the completion of the acquisition of Groupe Assurances du Crédit Mutuel España (GACM España). GACM España is a predominantly P&C and health insurance subsidiary in Spain. Under the terms of the transaction, AXA has acquired GACM España for a total cash consideration of €310 million, in line ... Read the full article
Beckmann joins Munich Re as CUO Casualty for Lloyd’s & Bermuda Markets and Global Clients
13th July 2023
Lucas Beckmann has joined global reinsurance giant Munich Re in a new position as Chief Underwriting Officer (CUO) Casualty for Lloyd's & Bermuda Markets and Global Clients. Beckmann has over fifteen years of experience working with Munich Re in various roles. He most recently served as the CUO for Munich Re Facultative ... Read the full article
CFC launches new innovation facility
13th July 2023
Specialist insurance provider CFC has launched an innovation facility to develop and underwrite products under the Lloyd’s “ICX” innovation risk code. Led by the CFC 1988 syndicate, CFC suggests that the new innovation facility will pursue opportunities using its "unique innovation approach", which is built to deliver decisive exploratory underwriting while ... Read the full article
Allianz names Christian Sandric Commercial leader for Asia
13th July 2023
Christian Sandric will join Allianz Commercial as Commercial Managing Director Asia in Singapore with effect from 1 September, subject to regulatory approval. Sandric will join the company from AIG Singapore where he currently serves as President & CEO. He is also Regional Manager for Indonesia, the Philippines and Vietnam with overall ... Read the full article
Canopius names Isabel Finn as Senior Cyber Threat Intelligence Analyst
13th July 2023
Canopius, a leading global specialty (re)insurer, has announced the appointment of Isabel Finn as a Senior Cyber Threat Intelligence Analyst, effective immediately. Finn, who joins from FTI Consulting, brings a wealth of experience in the field of cybersecurity and will play a pivotal role in launching Canopius' in-house cyber threat consultancy ... Read the full article
Slide secures additional $100m named storm reinsurance protection with second cat bond
13th July 2023
Slide Insurance, a full-stack insurtech focused on providing affordable, effective homeowners coverage, has announced it has finalized pricing for its latest catastrophe bond, closing the $100 million Purple Re Ltd. (Series 2023-2) transaction. This is the second cat bond sponsored by Slide this year, following the initial $100 million ... Read the full article
Facultative reinsurance demand is growing, says Aon
12th July 2023
Demand for facultative reinsurance is growing, however, supply remains static, and market dynamics differ greatly between accounts, lines of business and markets, according to Aon’s mid-year Reinsurance Market Dynamics report. With the resetting of the property catastrophe market at January 1, insurers are turning to facultative reinsurance to build additional catastrophe ... Read the full article
Claims inflation to remain noticeable for the rest of 2023: Bloomberg Intelligence
12th July 2023
Claims inflation is expected to remain a highly noticeable feature for the rest of 2023, according to Bloomberg Intelligence’s new Europe P&C Insurance 2023 Outlook, with analysts believing that insurers will not be able to increase rates enough to fully offset rising expenses. According to analysts this situation has been building ... Read the full article
Arch takes minority investment in MGA Helix
12th July 2023
Bermuda-based agency, Helix Underwriting Partners Ltd. has entered into an equity investment agreement under which global insurer Arch Capital Holdings Ltd. has become a minority shareholder. According to the announcement, this transaction further solidifies the strong trading relationship between Helix and Somers Re Ltd., a global specialty property and casualty re/insurance ... Read the full article
Lloyd’s names Rebekah Clement as Corporate Affairs Director
12th July 2023
Lloyd's, the global insurance and reinsurance marketplace, appointed Rebekah Clement to the newly created role of Corporate Affairs Director, effective immediately. In this position, Clement will report directly to Lloyd's CEO, John Neal. The establishment of a dedicated Corporate Affairs function aims to consolidate Lloyd's capabilities across government policy, external stakeholder ... Read the full article
Clear Group drives MGA build with acquisition of One Commercial Specialty Limited
12th July 2023
Insurance broker Clear Group has announced its acquisition of Specialty Lines MGA, One Commercial Specialty Limited. This marks Clear Group's second MGA deal, as earlier this month the broker announced the acquisition of a 50% shareholding in Thomond Underwriting Limited, based in the Republic of Ireland and Northern Ireland. This second ... Read the full article
AXIS Capital names Lauren Kent to lead AXIS Re International
12th July 2023
AXIS Capital has appointed Lauren Kent as President, AXIS Re International. Kent holds over two and a half decades of experience in reinsurance spanning the London, European and U.S. markets. According to AXIS, her expertise extends across multiple specialist lines of business, with a strong focus on the Casualty Treaty market. Kent was ... Read the full article
BHSI names David Corrigan UK Head of Property
12th July 2023
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of David Corrigan as Head of Property for the UK. In his new role, based in London, Corrigan will oversee underwriting of BHSI’s comprehensive line of property coverage for a wide range of risks, including Construction, Energy and Mining. He joins BHSI with ... Read the full article