Reinsurance News
Trisura Group set to provide underwriting services to Argo’s surety business
25th May 2023
Argo Group International Holdings, Ltd., has announced that it has come to an agreement with North American insurer, Trisura Group, Ltd., to support its surety underwriting operations as it looks to revamp and grow its surety business. Through the partnership, Trisura will provide surety underwriting services, as well as other services ... Read the full article
Lloyd’s appoints Beazley’s Rachel Turk as new CUO
25th May 2023
Lloyd’s has appointed Rachel Turk as Chief Underwriting Officer (CUO), reporting to Chief of Markets Patrick Tiernan. In her new role, Turk will be responsible for managing the performance of the Lloyd’s market, including leading the underwriting function to support the Corporation’s strategic goals. She will also be responsible for leading the ... Read the full article
Tower reports HY23 loss amidst surge in catastrophic event costs
25th May 2023
New Zealand insurer Tower Limited has reported a loss of $5.1 million for the half year to March 31, 2023, as costs related to large catastrophic events rose to $33.9 million in this period. The loss compares to a year-ago profit of $3 million, the insurer noted. Costs related to large ... Read the full article
IQUW promotes MacDonald and Hennessey to Head of Property
25th May 2023
IQUW, a property, commercial and specialty re/insurer has promoted Robbie MacDonald to Head of Property Direct and Facultative (D&F), and Tom Hennessey to Head of Property, Delegated Authority (DA). In their new roles, they will both be based in London where they will be jointly responsible for the global Property book, ... Read the full article
Generali sees GWP rise to €22.2 billion in Q1, driven by growth in P&C
25th May 2023
Italy-headquartered insurer Generali has reported that gross written premiums increased to €22.2 billion in Q1 of 2023, driven by robust growth in the P&C segment, which was up 10.1%. Meanwhile, Life net inflows were €-190 million, with net outflows from savings that were partially compensated by positive net inflows in both ... Read the full article
Beazley sponsors second cyber cat bond, secures $20m more reinsurance
25th May 2023
Specialty insurer and reinsurer, Beazley, has sponsored its second cyber catastrophe bond, adding $20 million of additional reinsurance protection via the issuance of Cairney II, as reported by our insurance-linked securities (ILS) focused sister publication, Artemis. In January, Beazley became the first to sponsor a cyber catastrophe bond when ... Read the full article
WTW launches insurance product to protect intangible assets
25th May 2023
WTW, a global advisory, broking and solutions company, has introduced a new financial product targeting clients intending to protect and leverage their intangible assets by considering a transfer of the associated risks. An intangible asset is one that is not physical in nature but one that can hold significant value, and ... Read the full article
Dennis Willette to lead Westfield Specialty’s environmental liability division
25th May 2023
Westfield Specialty, a US property & casualty insurer continues to expand its footprint with the addition of a market-leading environmental underwriting team and its sixth line of business. The company has confirmed that Dennis Willette, Senior Vice President Environmental, will lead the Specialty Environmental team. Willette has more than 15 years of ... Read the full article
Verisk appoints new senior leaders for PCS
25th May 2023
Verisk has announced that Ted Gregory and Alex Mican will be assuming new leadership roles in the PCS business unit of the organization. Mican and Gregory are both market veterans each having a decade's worth of experience at Verisk. They have also driven many of PCS’s most important innovations during this period, ... Read the full article
Miller hires Beazley’s Kate Enright as Head of Data
25th May 2023
Re/insurance broker Miller has appointed Kate Enright as Head of Data. As Head of Data, Enright will be responsible for building out the firm’s data and analytics capability, to effectively unlock data value, as well as drive new client solutions, and support Miller in implementing its strategic ambitions. She joins Miller from ... Read the full article
VanBeck elected Chair of MIB Board of Directors
25th May 2023
MIB has announced the election of Sarah J. VanBeck as Chair of its Board of Directors for 2023-2024, and Bruce Parker as Vice Chair, as well as the re-election of two incumbent Directors. Effective with MIB's May 19th Board Meeting VanBeck was re-elected to a second three-year term and will become ... Read the full article
Tallarna in partnership with AmTrust launch Energy Savings Insurance policy
25th May 2023
Tallarna, an award-winning climate technology company for the built environment, has announced that its wholly-owned subsidiary insurance broker, Kellclair, has received authorisation from the Financial Conduct Authority (FCA) to advise, arrange, and administer non-investment insurance contracts. In partnership with AmTrust Financial Services, Inc. (AmTrust), a global specialty property and casualty insurer, ... Read the full article
Allianz Holdings to revamp executive leadership team as Treloar & Dyson depart
24th May 2023
Allianz Holdings has announced that Steve Treloar, CEO for Allianz Personal, and Fernley Dyson, chief financial officer, are stepping down from their respective roles to pursue new opportunities. Treloar first joined LV= as Managing Director in May 2016. Before this, he served as managing director of Personal Lines at Aviva and ... Read the full article
Pan American Life Insurance Company to acquire Encova Life Insurance Company
24th May 2023
Encova Mutual Insurance Group and Pan American Life Insurance Company have made a joint announcement that Encova Life Insurance Company, an affiliate of the Encova Mutual Insurance Group, will be acquired by and merged into PALIC. TJ Obrokta Jr, the Encova Insurance President and CEO said, “We have had strong success ... Read the full article
Moody’s affirms a stable outlook for RenRe post acquisition of AIG’s Validus Re
24th May 2023
Moody’s affirms RenaissanceRe’s ratings following the announced acquisition of Validus Reinsurance from American International Group, Inc. and said the outlook looks stable. RenaissanceRe has agreed to acquire Validus Re for $2.985 billion in cash. The company plans to fund the acquisition with a combination of equity, including $250 million of ... Read the full article
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