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M&A environment still favourable for health insurers: AM Best

6th May 2021

The environment for mergers and acquisitions (M&A) among U.S. health insurers remains favorable as they continue to seek out diversification and growth opportunities, according to analysts at AM Best. The rating agency noted in a recent report that health insurers reported record earnings and accumulated a significant amount of cash in ... Read the full article

COVID-19 uncertainty remains a key risk for 2021: Munich Re CFO

6th May 2021

While the global vaccination effort is enabling parts of the world to open up and providing people with vital protection against COVID-19, all of which means reduced exposure for re/insurers, uncertainty remains for both the months ahead and the 2020 run-off, according to Christoph Jurecka, Chief Financial Officer (CFO) at ... Read the full article

SCOR partners with insurtech Snapsheet on digital claims management solutions

6th May 2021

Global reinsurer SCOR has announced a new strategic partnership that will provide its clients with access to an end-to-end claims management platform, digital payments platform, motor virtual appraisal offering, and set of third-party integrations. The solutions are provided by digital claims management software specialist Snapsheet. Snapsheet has fostered a reputation for helping ... Read the full article

Howden Specialty hires Surya Wijaya as Divisional Director

6th May 2021

Howden Specialty has appointed Surya Wijaya as Divisional Director to its growing Natural Resources division in Asia Pacific. Wijaya will be based in Singapore and report to Matt Savitt, Head of Natural Resources, Asia Pacific. He brings years of industry experience, having held roles at Aon, JLT and Marsh JLT Specialty over ... Read the full article

Aon makes three senior appointments to national healthcare practice

6th May 2021

Re/insurance broker Aon plc has made three senior appointments in a bid to expand its national healthcare practice. Audrey Greening has been appointed as chief broking officer and be based in Washington, D.C. She has over 30 years’ of experience in the industry, most recently focusing on developing risk financing solutions for ... Read the full article

James River Group reports net loss of $103.5mn

6th May 2021

James River Group Holdings has reported a Q1 2021 net loss of $103.5 million compared to net loss of $36.8 million ($1.21 per diluted share) for the prior year period. It also reported a combined ratio of 199.2% versus 100.6% in the prior year quarter. The group suffered from an underwriting loss ... Read the full article

UPC posts $26.3mn pre-tax loss for the quarter

6th May 2021

Property and casualty holding company UPC Insurance has announced a first quarter pre-tax loss of $26.3 million, a further deterioration from the $15.8 million reported in the prior year period. Net loss attributable to UPC stood at $17.8 million, compared to $12.7 million in first quarter of 2020. This increase was primarily ... Read the full article

Greenlight Re posts income of $6.5m as investments offset underwriting loss

6th May 2021

Hedge fund-backed reinsurer Greenlight Re has recorded net income of $6.5 million for the first quarter of 2021 against a net loss of $40.3 million a year earlier, despite falling to an underwriting loss on the impacts of winter storm Uri in the U.S. in February. During Q1 2021, gross written ... Read the full article

Palomar posts 41.2% net income rise in Q1

6th May 2021

California-based specialty insurer Palomar has reported a net income of $16.6 million for the first quarter of 2021, up 41.2% on the $11.8 million achieved during the prior year quarter. Gross written premiums increased by 44.9% to $103.6 million compared to $71.5 million this time last year. Adjusted net income increased 56.5% ... Read the full article

CCR appoints Jacques Le Pape as Chairman

6th May 2021

Jacques Le Pape Chairman has been appointed as the new Chairman of the Board of Directors at CCR, the French state-backed re/insurer. He replaces Pierre Blayau, whose mandate came under his statute term. Le Pape will now oversee the running of the CCR Group's strategic plan, which includes a continued strengthening of ... Read the full article

Kemper CEO Lacher appointed Chairman as Joyce named Lead Director

6th May 2021

Kemper has announced that its President and Chief Executive Officer (CEO), and current director, Joseph P. Lacher, Jr., will take on the additional role of Chairman the Board, effective immediately. Lacher assumes the position from Robert J. Joyce, who has transitioned from the role of non-executive chairman to independent lead director. Lacher ... Read the full article

QBE positive on Q1 performance despite $260mn nat cat bill

6th May 2021

Each one of QBE's divisions secured premium rate increases that were either in line with or stronger than expectations during 2021's first quarter. Speaking during QBE's 2021 Annual General Meeting, Chairman and Interim Chief Executive Officer Michael Wilkins said headline Gross Written Premium was up 28%. This reflects premium rate increases, continued ... Read the full article

Munich Re’s Q1 operating result improves on lower COVID impact

6th May 2021

Global reinsurer Munich Re has announced a profit of €589 million for the first quarter of 2021 against €221 million a year earlier, as the operating result spiked owing to a considerably lower impact from COVID-19 losses in the period. For Q1 2021, Munich Re's operating result improved from €397 million ... Read the full article

Aston Lark Europe to trade under Aston Lark Ireland

6th May 2021

Robertson Low Insurances and Wright Group Brokers have completed their merger along with their subsequent rebrand to Aston Lark Europe, which now trades as Aston Lark Ireland. Continuing to operate out of the current offices in Dublin, Carlow, Portlaoise, Wexford and London, Aston Lark Ireland is headed up by CEO, Robert ... Read the full article

SRS makes two senior hires for Guernsey office

6th May 2021

Strategic Risk Solutions has appointed Elyse Dandeker and Stephen Nash to senior roles within the company’s newly established Guernsey office. Dandeker, who has been appointed to the position of Director of Accounting Services, joins SRS in June, whilst Nash joins later in the year and will be appointed to the position ... Read the full article

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