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AIG makes senior leadership changes

26th October 2021

American International Group (AIG) has made senior leadership changes as part of the separation of the Life & Retirement business. Mark Lyons, currently Executive Vice President and Chief Financial Officer, AIG, will step into a newly created role of Executive Vice President, Global Chief Actuary and Head of Portfolio Management, AIG. In ... Read the full article

ARPC operating result 53% above forecast

26th October 2021

The Australian Reinsurance Pool Corporation (ARPC), a government-backed terror risk reinsurance venture, has reported an operating result of $84.9 million for the year ending June 30th, 2021. The result was 53.2% higher than the $55.3 million that had originally been forecast for the year. Gross written premiums were similarly 17.3% higher than ... Read the full article

RenRe’s underwriting performance deteriorates amid heavy cat experience

26th October 2021

Bermuda-based reinsurer RenaissanceRe has reported a net loss of $450.2 million for the third quarter of 2021, as catastrophe losses contributed to a $726.8 million net negative impact on its result during the period. The Q3 2021 net loss compares with a gain of $47.8 million for the prior year period, ... Read the full article

BRP Group bolsters leadership team of Japanese practice group

26th October 2021

Independent insurance distribution firm BRP Group has bolstered the Japanese practice group within its middle-market indirect subsidiary, AHT Insurance. Brian Murphy joins as co-practice leader with over three decades’ experience with a recent focus on global strategy and placements. Hiro Ushikii, based in New Jersey, joins as co-practice leader and has more ... Read the full article

Ransomware is the largest cyber reinsurance market issue: PCS’ Johansmeyer

25th October 2021

In a recent video interview with our sister publication Artemis, Tom Johansmeyer, Head of PCS, discussed the subject of cyber risk, current cyber risk trends and how the insurance-linked securities (ILS) market can play a role in provision of reinsurance and retrocession capacity. During the interview Johansmeyer discussed ... Read the full article

Swiss Re CorSo adds Favorito as exec risk head of North America

25th October 2021

Swiss Re Corporate Solutions has appointed Chris Favorito to serve as Head of Executive Risks for North America. Favorito will be responsible for leading and driving the underwriting strategy for the firm’s North American Executive Risk book of business. This includes a suite of management liability products tailored for public and private ... Read the full article

Tokio Marine Kiln partners with CarbonChain

25th October 2021

Tokio Marine Kiln (TMK) has partnered with CarbonChain, a startup building technology solutions, to measure greenhouse gas emissions to inform underwriting decisions. TMK and CarbonChain began exploring this partnership a few months ago as part of a project within the Lloyd’s Lab, the innovation incubator of Lloyd’s. Following a successful trial using ... Read the full article

Re/insurers should expect global annual nat cat losses of $100bn+, says AIR

25th October 2021

The insurance and reinsurance industry should anticipate a long-run annual average bill of approximately $106 billion from global catastrophe events, according to analysis by catastrophe risk modeller, AIR Worldwide. Verisk's AIR Worldwide has released its 2021 Global Modeled Catastrophe Losses report, which shows that recent years of natural catastrophe losses are ... Read the full article

Generali takeover offer for Cattolica gets regulatory approval

25th October 2021

Italian insurer Generali has received regulatory approval for the acquisition of a controlling interest in Società Cattolica di Assicurazione. The European Commission has given Generali the green light to make an offer to acquire all the ordinary shares of Cattolica. Further details of the offer have not yet been disclosed. Generali committed to ... Read the full article

Aviva adds Martin Strobel as independent non-exec director

25th October 2021

Aviva has announced the appointment of Martin Strobel as an independent non-executive director, effective immediately Strobel was most recently the senior independent director of RSA Insurance Group and has held a number of senior roles during his career. Previous positions include group CEO of Baloise-Holding AG, Operating Partner of Advent International and time spent ... Read the full article

Allianz Africa names Delphine Traoré as CEO

25th October 2021

Allianz Africa has appointed Delphine Traoré as Allianz Africa Regional Chief Executive Officer (CEO), in addition to her current responsibilities. She succeeds Coenraad Vrolijk who is leaving Allianz Africa to pursue new opportunities outside of the Allianz group. Traoré joined the Allianz Group in 2005 with Allianz Global Corporate & Specialty (AGCS) ... Read the full article

WTW appoints Fox Carney as climate transition advisor

25th October 2021

Re/insurance broker Willis Towers Watson has appointed Diana Fox Carney to the climate, resilience and ESG solutions teams within its Climate Resilience Hub, which serves corporates and public sector institutions in North America and worldwide. As a development economist, Fox Carney developed early insights on global sustainability risks and the challenges ... Read the full article

MS Amlin (MS AUL) promotes Wallington to Head of Specialty Reinsurance

25th October 2021

Lloyd's global insurer and reinsurer, MS Amlin Underwriting Limited (MS AUL), has announced the promotion of Rachael Wallington to Head of Specialty Reinsurance, effective November 1st, 2021. In her new role, Wallington will report to Matthew Wilken, Head of Reinsurance, and takes on responsibility for the oversight of the Specialty Reinsurance ... Read the full article

UPC Insurance ups Q3 nat cat loss estimate to $37mn

25th October 2021

Property and casualty insurance holding company UPC has announced estimated pre-tax catastrophe losses incurred for the third quarter of 2021 of approximately $37 million; roughly $29 million after tax. This compares to the original third-quarter 2021 pre-tax catastrophe loss estimate of $27 million ($21 million after-tax). The company’s estimated net cat losses ... Read the full article

Fidelis renews quota share with Berkshire Hathaway

25th October 2021

Bermuda-based holding company Fidelis has renewed its 20% whole account quota share with Berkshire Hathaway for 2022. Richard Brindle, Chairman and Group Chief Executive Officer of Fidelis said the deal will enable the company to continue supplying significant capacity to clients. “I continue to believe that there is considerable need for lead ... Read the full article

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