Reinsurance News
Swiss Re hands Patrick Roder Head Casualty Underwriting role for EMEA
2nd May 2023
Global reinsurer Swiss Re has announced the appointment of Patrick Roder as Head of Casualty Underwriting for Regional Markets in Europe, the Middle East and Africa (EMEA). Roder has served as Head of Casualty Research and Development (R&D) since re-joining Swiss Re in July 2021, having previously worked at the reinsurer ... Read the full article
PPL launches API project with Morning Data partnership
2nd May 2023
Placing Platform Limited (PPL) and Morning Data have announced that they are working together to explore how to utilise EOS Contract (CDR) Checker to accelerate PPL’s Next Gen platform’s ability to create CDRs through the placement process. The service, a headless RESTful API, uses an easy-to-implement process to consume, test and ... Read the full article
VIG Re reports improved combined ratio of 91.9% for 2022
2nd May 2023
VIG Re has published its annual report showcasing a combined ratio improvement of approximately 4.2 ppt to 91.9% in 2022, compared from the 2021 combined ratio of 96.1%. The company’s profit before taxes stands at EUR 30.7 million for 2022, which is a 14.6% increase from the previous year which was ... Read the full article
Coalition launches next generation Cyber Risk Management Platform
2nd May 2023
Cyber insurance provider Coalition has launched the next generation of its cyber risk management platform, Coalition Control. The platform combines cyber risk monitoring, assessment, and quantification tools with third-party risk management and AI-powered assistance to provide unparalleled risk management capabilities to organizations of all sizes. "Releasing the next generation of Coalition Control ... Read the full article
Arbol and The Institutes RiskStream Collaborative announce partnership
2nd May 2023
Global climate risk coverage platform Arbol, and The Institutes RiskStream Collaborative, the insurance industry's largest blockchain consortium, have announced a strategic partnership to transform parametric insurance. According to the announcement, the collaboration aims to leverage blockchain technology to streamline data flow, increase transparency, and enable rapid payouts in parametric insurance and ... Read the full article
Pacific Life Re & Zurich enter £1.6bn longevity hedge with YCB
2nd May 2023
The Yorkshire and Clydesdale Bank (YCB) Pension Scheme has announced a longevity swap transaction with Pacific Life Re International and Zurich Assurance to manage longevity risk in relation to £1.6 billion of pensioner liabilities. The arrangement will provide long term protection to the scheme against costs resulting from pensioners or their ... Read the full article
WTW launches next-generation trading solution to connect underwriters and brokers at speed
2nd May 2023
Re/insurance broker WTW has announced the global launch of Neuron, a digital insurance platform that uses cutting-edge technology to help underwriters and brokers connect and trade more easily. The platform also helps improve both the speed and cost of doing business through digitisation, automation and better use of data. WTW stated that ... Read the full article
Ageas Re strengthens team with new hires
2nd May 2023
Ageas Group's reinsurance brand, Ageas Re has announced it is growing its team as it welcomes a number of new hires all over the world. Joining the company from Axis Re, Wolfgang Amiras has been named Senior Underwriting Manager, a Zurich-based role. Amiras will cover Germany, Austria, Switzerland, the Nordics and CEE ... Read the full article
Guy Carpenter’s Jaimie Hunter joins Lockton Re as Senior Broker in new Stamford location
2nd May 2023
Lockton Re, the reinsurance division of insurance broker Lockton has appointed Jaimie Hunter as a Senior Broker, where she will be based in the company's new Stamford, Connecticut location. In this new role, Hunter will support client development, with a particular focus across Lockton Re’s Casualty business in North America on ... Read the full article
Rothesay completes £160m full scheme buy-in for Repsol Sinopec
2nd May 2023
UK specialist pensions insurer Rothesay has completed a £160 million full scheme buy-in with Repsol Sinopec, an oil and gas exploration and production company operating in the North Sea. The transaction secures the benefits for all members of the company’s scheme, which includes defined benefit liabilities for 141 pensioners and dependants ... Read the full article
CNA Financial sees rise in Q1’23 net income
2nd May 2023
Chicago-based insurer CNA Financial Corporation has reported a slight increase in net income of $297 million for the first quarter of 2023, compared with $295 million in the prior year quarter. Core income for the quarter was $325 million, versus $298 million in the prior year quarter, with net investment losses ... Read the full article
Inver Re appoints Gareth Davies as Chairman of Parametrics
2nd May 2023
The Ardonagh Group's global reinsurance broking arm, Inver Re, has hired Gareth Davies from Price Forbes as Chairman of Parametrics, effective May 2023. Davies joins the reinsurance broker after more than three years with Price Forbes & Partners, where he most recently served as an Executive Director with a focus on ... Read the full article
Governor DeSantis secures commitment from UK reinsurers to increase access for carriers in Florida
2nd May 2023
Florida Governor Ron DeSantis, and Tim Cerio, the Citizens Property Insurance Corporation President and CEO, provided an update to reinsurers in the UK on Florida’s efforts to stabilise the property insurance market, and secured a commitment from the companies in attendance to increase access for carriers serving Florida policyholders. Governor Ron ... Read the full article
BMS acquires Australian MGA to continue international growth
2nd May 2023
Specialist re/insurance broker BMS Group has acquired Australian firm GARD Insurance, which includes hospitality MGA ALE underwriting. GARD non-executive chairman Craig Patterson will join BMS as executive chairman of GARD, with a remit to grow and expand the acquired business. Patterson is a seasoned industry operator with a wealth of experience gained ... Read the full article
Midwest Holding to be acquired by Antarctica Capital for $100 million
2nd May 2023
Midwest Holding Inc. and investment firm Antarctica Capital have entered into a definitive merger agreement whereby an affiliate of Antarctica will acquire Midwest in an all-cash transaction valued at approximately $100 million. According to Midwest, under the terms of the agreement, its shareholders will receive $27.00 in cash per share, representing ... Read the full article