Reinsurance News
Munich Re Specialty expands its E&S Lawyers Professional Liability solution
11th April 2023
Munich Re Specialty Insurance (MRSI) has expanded its E&S Lawyers Professional Liability (LPL) solution to include primary and excess coverage for firms with 11 or more attorneys, as well as firms with an Intellectual Property practice. Marcia Blanco, Head of Financial Lines, Excess & Surplus Underwriting, MRSI, commented, “More than half ... Read the full article
SRCC risks elevated globally with claims rivalling nat cats in some parts: Howden
11th April 2023
Risks related to strikes, riots and civil commotion (SRCC) have become elevated in advanced and emerging economies, with insured losses from these events in certain hot spots now comparable to major natural catastrophes, according to insurance and reinsurance broker Howden. Growing discontent across the globe linked to inequality, the cost of ... Read the full article
Henningsen named CEO of Lockton’s Texas P&C business
11th April 2023
Global insurance broker Lockton has announced that Jeff Henningsen will serve as Chief Executive Officer (CEO) of its Texas P&C business. Henningsen holds almost three decades of industry experience, having spent 21 of those years with Lockton. The broker describes him as a recognised leader in serving the complex insurance needs of ... Read the full article
Oceanview Re appoints Timothy Gasaatura as Chief Actuary
11th April 2023
Oceanview Reinsurance Ltd., a wholly-owned reinsurance subsidiary of Oceanview Holdings Ltd., has appointed Timothy Gasaatura to the role of Chief Actuary. With a background in valuation, capital management, and risk mitigation across both life and general insurance sectors, Gasaatura brings close to two decades of industry experience to his new role. He ... Read the full article
Brown & Brown names Michael Vaughan chief data officer
11th April 2023
Insurance brokerage firm Brown & Brown has appointed Michael Vaughan as chief data officer. Vaughan is adept in the data field, having most recently served as a senior vice president in the analytics data platform delivery and data strategy and architecture divisions of Truist. He holds a Bachelor of Science from Appalachian ... Read the full article
HCI launching Tailrow as Florida homeowners insurance startup
11th April 2023
Insurance focused holding company HCI Group, Inc. is looking to establish a new Florida domestic homeowners insurer, named Tailrow Insurance Company, Reinsurance News has learned. HCI Group already owns Florida licensed insurer Homeowners Choice, insurtech property and flood insurance specialist TypTap, and reinsurance focused unit Claddaugh. Tailrow Insurance Company is expected to ... Read the full article
Ardonagh acquires Netherlands insurance firm Klap from Nedvest
11th April 2023
The Ardonagh Group has agreed to acquire Klap Verzekeringsmakelaar, a Netherlands-based specialist commercial lines insurance broker. Founded in 1854, Klap advises SME companies on employee benefits, insurance, and pensions, distributing over €100m of GWP annually. Under the leadership of Jorg Roodbeen, Klap CEO, and with support from Tim Kreté, partner at Nedvest, ... Read the full article
Nexus Underwriting drives Middle East footprint with Spectrum acquisition
11th April 2023
Nexus Underwriting, an independent specialty MGA, has announced that it has completed its acquisition of a majority stake in Spectrum Risk Management, a specialist MGA headquartered in Dubai that primarily focuses on Marine and Property insurance and reinsurance. This marks Nexus’ 16th acquisition since the company formed in 2008, and the ... Read the full article
Strategic Risk Solutions appoints Ron Sulisz as President
11th April 2023
Strategic Risk Solutions (SRS), a provider of insurance management and consulting services, has appointed Ron Sulisz to the role of President of the global firm. His appointment is effective May 15, 2023, and he will report to Brady Young, who will continue to serve as CEO of the company. At the same ... Read the full article
James River adds Dennis J. Langwell to Board of Directors
11th April 2023
Bermuda domiciled insurance holding company, James River Group Holdings Ltd., has announced that Dennis J. Langwell has been appointed to the company’s Board of Directors as an independent, non-executive member, effective immediately. The company confirmed that Langwell has been appointed to the Audit Committee of the Board. Following this appointment, James River’s ... Read the full article
Coalition launches generative AI for brokers and businesses
11th April 2023
CoalitionAI™, a new initiative to deploy generative AI and large language models to help brokers and businesses protect themselves from cyber risk, has been launched by Coalition. The new features released today use a combination of proprietary technology, large language modeling, and generative pre-trained transformers. The insurer plans to introduce additional AI ... Read the full article
Swiss Re names Kerényi Chief Risk Officer, P&C Reinsurance
11th April 2023
Global reinsurance giant Swiss Re has appointed Attila Kerényi as Chief Risk Officer and Member of the Executive Committee, property & casualty (P&C) Reinsurance. Based in New York, Kerényi is a veteran across the industry and brings over 22 years of experience towards his new role. Kerényi has worked for the reinsurance ... Read the full article
Fidelis reports increased GWP & improved combined ratio in 2022
11th April 2023
In its 2022 full year results, Bermuda-based Fidelis Insurance Holdings Limited has reported that gross written premiums (GWP) increased to $3 billion compared to 2.78 billion in 2021, while the firm's combined ratio improved to 92.1% from 92.9%. Of the GWP total in 2022, $1.61 billion was made up of speciality ... Read the full article
Sawford becomes Verisk UK Managing Director of Claims
11th April 2023
Verisk, a global data analytics and technology provider, has named Chris Sawford Managing Director of Claims for the United Kingdom. Sawford will lead strategic initiatives that can help insurer claims teams boost automation, increase efficiency and contain costs as they continue to face persistently high inflation and supply chain disruption. He co-founded ... Read the full article
Enstar closes $1.9bn LPT with QBE Insurance
11th April 2023
Legacy specialist Enstar Group's wholly owned subsidiaries have completed a Loss Portfolio Transfer (LPT) transaction with certain subsidiaries of QBE Insurance Group on a diversified portfolio of business. The transaction covers International and North America financial lines, European and North American reinsurance portfolios, and several US discontinued programs. Under the LPT, Enstar’s ... Read the full article