Reinsurance News
Gallagher Re hires Guy Carpenter’s Linda Purnama to lead Indonesia
28th September 2023
Gallagher Re has appointed Linda Purnama to lead its reinsurance proposition in Indonesia, this move is aimed to strengthen client relationships in the country and signifies another milestone for the reinsurer. A well-known figure in the Asia-Pacific, Purnama brings to her new role over two decades of experience leading ... Read the full article
RSA expands financial Risks portfolio with new PTL insurance product
28th September 2023
RSA Insurance has launched a new Pension Trustee Liability (PTL) insurance product, expanding its Financial Risks portfolio. The PTL product, now available to brokers and commercial lines customers throughout the UK via RSA’s Mid Market business, is aimed at UK pension schemes which are well funded with a financially strong employer ... Read the full article
Coinnect joins Plug and Play’s portfolio companies
28th September 2023
Cyber Insurtech Coinnect has announced its inclusion in the portfolio of Plug and Play, "the world's largest startup accelerator." According to Coinnect, Plug and Play, known for its investments in more than 30 unicorns and notable companies such as PayPal, Google, Dropbox, and Trulioo, has invested in its equity. "Plug and Play ... Read the full article
Porch announces cash investment in its insurance carrier HOA
28th September 2023
Porch Group has announced a cash investment of $57 million in its insurance carrier subsidiary, Homeowners of America Insurance Company (HOA), in exchange for both a $49 million surplus note from HOA and the acquisition of HOA’s rights to potential claims stemming from the letter of credit fraud connected to ... Read the full article
Leading European insurers underwrite 30% of U.S. coal: Insure Our Future
28th September 2023
According to a new report by Insure Our Future, leading European insurers are underwriting nearly a third of U.S. coal production, despite their net zero commitments. As per the group's report, Lloyd’s of London, Zurich, and Swiss Re are among the top ten insurers of the 25 biggest U.S. mines. Insure Our ... Read the full article
2022 US Cyber insurance premium surge, but CL0P/MOVEit attack threat looms in 2023: Aon
28th September 2023
The National Association of Insurance Commissioners (NAIC) has reported a remarkable 50% increase in US cyber insurance premiums in 2022, totaling $7.22 billion, according to Aon's U.S. Cyber Market Update. While this growth is notable, the industry's performance also reveals emerging challenges, with the CL0P/MOVEit attack taking center stage as a ... Read the full article
Helios Underwriting sees GWP increase 28% to £160m in H1
28th September 2023
Lloyd’s focused investment vehicle Helios Underwriting has reported that H1 2023 gross written premiums (GWP) increased by 28% to £160m, while the underwriting result improved by a massive 252%. According to Helios, the 28% GWP boost reflects the increase in the capacity portfolio. The firm's underwriting result in H1 of 2023 was ... Read the full article
Tower completes FY24 reinsurance placement, lowers catastrophe upper limit
28th September 2023
Kiwi insurer, Tower has completed the renewal of its reinsurance programme for the 2024 financial year, decreasing its catastrophe upper limit to $750 million. Tower says that is has secured a comprehensive reinsurance programme at competitive rates for home, motor, boat, and commercial portfolio cover, across New Zealand and the Pacific, ... Read the full article
IIL elects Munich Re Syndicate’s Dominick Hoare as President for 2023-24 term
28th September 2023
The Insurance Institute of London (IIL) is proud to announce the election of Dominick Hoare as its new President for the 2023-24 term. Hoare brings with him a wealth of experience from his role as the Group Chief Underwriting Officer of the Munich Re Syndicate, formerly known as the Watkins Syndicate, ... Read the full article
Berkshire (BHSI) appoints Pascal Carrer as Head of Casualty in Switzerland
28th September 2023
Specialty insurer Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Pascal Carrer as the Head of Casualty in Switzerland, based in Zurich. Leander Metzger, Country Manager in Switzerland, BHSI, commented on the appointment, "I am excited to welcome Pascal to our leadership team in Switzerland. "Together, we will continue to ... Read the full article
AEGIS London’s digital E&O package offering made affordable for Canadian SMEs
28th September 2023
Canadian SMEs will now be able to buy affordable property cover through an enhanced extension to AEGIS London’s existing digital E&O package. Lloyd’s insurer AEGIS London’s existing digital E&O package offering has been made affordable for smaller businesses in Canada. The package offers property, contents and business interruption protection. AEGIS London has ... Read the full article
Fannie Mae executes eighth CIRT transaction of 2023
28th September 2023
Leading U.S. mortgage industry player Fannie Mae has successfully executed its eighth Credit Insurance Risk Transfer (CIRT) transaction of 2023, transferring $344.3 million in mortgage credit risk to private insurers and reinsurers. Rob Schaefer, Vice President of Capital Markets at Fannie Mae, expressed appreciation for the continued support of the 24 ... Read the full article
Arrowhead General Insurance appoints Mark Kaufman as Chief Actuary
28th September 2023
Arrowhead General Insurance Agency, Inc. has announced the appointment of Mark Kaufman as its Chief Actuary for the National Programs Division of Brown & Brown, Inc. Jimmy Curcio, Chief Strategy & Analytics Officer for the division, commented on the appointment, “Our core value proposition as an MGA is to deliver our ... Read the full article
Howden Tiger names Tim Ronda as new CEO
27th September 2023
Global broker Howden's reinsurance arm, Howden Tiger, has announced that its current President, Tim Ronda, will take over as the firm's Chief Executive Officer (CEO), reporting to David Howden, CEO of Howden. Effective January 1st, 2024, Ronda will assume the role from current CEO Rob Bredahl, who will become Executive Chair ... Read the full article
Marlène Luce to lead Descartes’ Strategy & New Business department
27th September 2023
Parametric insurtech Descartes Underwriting, has appointed Marlène Luce as Head of Strategy & New Business. Luce is to lead Strategy & New Business, to identify and launch new growth drivers while maintaining Descartes’ data-driven, cartesian philosophy: leverage strong tech and modelling skills to build solutions in areas where data and algorithms ... Read the full article
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