Reinsurance News

Tatum named Business Development Officer for Ambac’s Cirrata Group

1st February 2023

Ambac Financial Group, a financial services holding company, has appointed John Tatum to the newly created position of Managing Director and Business Development Officer for its insurance distribution division, Cirrata Group. In his new position, Tatum will be responsible for expanding the company’s platform of managing general agencies (MGAs) and managing ... Read the full article

Scott Jacobs named Head of Core Claims for QBE European Operations

1st February 2023

QBE Europe, part of QBE Insurance Group, has announced the appointment of Scott Jacobs as Head of Core Claims, taking over from Nathan Fuller, who was recently appointed Chief Operations Officer, QBE International. In his new role based in Leeds, Jacobs will lead a department operating across multiple lines of business, ... Read the full article

Southern Marine doubles bulk liquid binding authority

1st February 2023

Southern Marine, a managing general agent (MGA) has increased Cargo and Stock Throughput binding authority for Bulk Liquids - Oil, Gas, Petrochemicals, and Renewables - to $200 million through extended relationships with several Lloyd’s of London syndicates. This is a significant increase from the MGA’s previous binding authority limit of $100 ... Read the full article

Zurich leads series B funding round for cyber insurtech BOXX Insurance

1st February 2023

Toronto-based insurtech BOXX Insurance has announced a $14.4 million Series B funding round, bringing the total amount raised in the last 16 months to $24.5 million. Zurich Insurance led the latest funding round, with Jack Howell, CEO of Zurich Global Ventures, commenting, "We've seen how difficult it is to build cyber ... Read the full article

Relm Insurance expands its partnership with Trisura Specialty Insurance Company

1st February 2023

Specialty insurer Relm Insurance Ltd., has announced an expansion of its strategic fronting partnership with Trisura Specialty Insurance Company. The expansion will enable the Bermuda-domiciled carrier to provide capacity in support of AM-Best rated paper for US digital asset risks. Rated A- by AM Best, Trisura is a leading international specialty insurance ... Read the full article

Great opportunity for property CAT investment amid “perfect storm”: Carson K2 CAT

31st January 2023

A “perfect storm” has created a hard market for property treaty business, the best underwriting conditions in the last 30 years. The higher rates stemming from a challenging economic environment have made this a great time for investors to enter the market, said David Carson, head underwriter at MGA K2 ... Read the full article

Trecia Sigle joins SiriusPoint as Global Head of Claims

31st January 2023

Bermuda-headquartered re/insurer SiriusPoint has appointed Trecia Sigle as Global Head of Claims, effective February 6, 2023. Within this role, she will report to Patrick Charles - Global Head of Property and Casualty (P&C) Insurance & Services. As Global Head of Claims, Sigle will hold responsibility for the overall management and strategic direction ... Read the full article

Munich Re and CloudCover announce partnership

31st January 2023

CloudCover, an AI-generative cybersecurity threat prevention platform, has announced the inclusion of the $1m Ransomware Warranty backed and insured by reinsurance giant, Munich Re. With ransomware attacks on the rise, including high-profile breaches in energy infrastructure, finance, and healthcare, offerings like the Ransomware Warranty have never been more necessary, CloudCover highlighted. CEO ... Read the full article

AXA XL Re names Dan Bryan Head of Asia, Reinsurance

31st January 2023

AXA XL Reinsurance has appointed Dan Bryan as Head of Asia, Reinsurance, effective February 1st. Previously, Bryan held the role of Head of Treaty Underwriting for Asia. In this new role, he will continue to work with AXA XL Reinsurance’s clients and underwriting team in the region. AXA XL noted that Bryan ... Read the full article

HDI Global names Jason Tyng Leader of US Captive Solutions

31st January 2023

Jason Tyng has been appointed to the newly create role of Lead of US Captive Solutions at HDI Global. Tyng’s appointment comes in line with HDI’s plan to further expand its international footprint for its Captive Solutions business. Overall, Tyng brings more than 15 years of sales and leadership experience across the ... Read the full article

Arbol transacts $170m in GWP in 2022

31st January 2023

Arbol, a global climate risk solutions platform, has reportedly transacted $170m in gross written premium (GWP) in 2022, marking significant growth and traction for the Arbol platform as it more than doubled its 2021 GWP of $70m. The InsurTech platform and FinTech company also reported cash flow-positive operations for the second-consecutive ... Read the full article

High inflation & spikes in interest rates cause challenging renewal season: Aon

31st January 2023

Aon’s January Reinsurance Market Dynamics report: Macro Conditions: Extreme Volatility, cites 2022 as being tricky for the industry, with inflation hitting multi-decade highs, as well as interest rates rising to an almost “unprecedented pace”. The report also noted that equities had their worst year since 2008, and for the first time ... Read the full article

Insurers expected to increase investment risk tolerance: Conning

31st January 2023

U.S. insurers are expected to increase their risk tolerance and grow portfolio allocations to private assets amid concerns of higher market volatility and inflation, a survey by global insurance asset management firm Conning has revealed. Guided by 2022’s market environment, the Conning Risk Assessment Survey of U.S. Insurers focused on risk ... Read the full article

Arch Insurance NA appoints Dieterich as COO

31st January 2023

Arch Insurance North America, part of Arch Capital Group Ltd., has appointed Lauren Dieterich as Chief Operating Officer. She will report to Brian First, President of Arch Insurance North America, and will also serve as a member of the North American executive leadership team. Overall, Dieterich brings more than 20 years of ... Read the full article

Everest Insurance announces official entrance into Spain

31st January 2023

Everest Insurance, the insurance division of Everest Re Group, has announced its expansion into the Spanish market. The Spain branch is headquartered in Madrid, with another office opening in Barcelona. José Ramón Morales will lead the operations as Head of Spain. Everest suggests that its Spanish offices will provide a bespoke range of insurance ... Read the full article