Reinsurance News
Mike Higgins appointed Operations Director at Woodgate & Clark
21st January 2025
UK loss adjuster Woodgate & Clark has announced the appointment of Mike Higgins as its new Operations Director, he will also be joining the company's Board of Directors. Higgins, who has close to 30 years of insurance and claims management experience, is taking over the role from Graeme Fitzpatrick who has ... Read the full article
Moody’s assigns A2 financial strength ratings to Nationwide P&C companies
20th January 2025
Moody's Ratings has assigned A2 insurance financial strength ratings to Nationwide Insurance Company of America, National Casualty Company, and Scottsdale Surplus Lines Insurance Company, all with a stable outlook. These companies are members of the property and casualty (P&C) insurance business owned by Nationwide Mutual Insurance Company (NMIC). Nationwide Insurance Company of ... Read the full article
TransRe adds Bastien Potentier as Underwriter, Property & Alt Solutions
20th January 2025
TransRe, a reinsurance company wholly owned by Alleghany Corporation, has appointed Bastien Potentier as an underwriter for Property and Alternative Solutions to its Europe, Middle East and Africa (EMEA) team. Bastien will be based in Zürich, Switzerland and focus on clients’ property needs, including traditional property cat and non-cat, alternative structures ... Read the full article
Mercury yet to decide if LA wildfires a single event as claims paid hit $80m
20th January 2025
Mercury General Corporation has paid $80 million to policyholders, mainly for living expenses and housing contents due to the Southern California wildfires. However, it has reportedly not yet decided whether it will treat the fires as two separate events under its reinsurance agreements. Earlier this month, Mercury General provided a ... Read the full article
Aviation reinsurance market in good health but losses continue to weigh on sector: Gallagher
20th January 2025
Richard Sammons, Head of Aerospace at Gallagher Re, highlights that while the aviation reinsurance market appears to be in good health, the balance is far from a buyer’s market. Gallagher Re, a reinsurance broker specialising in risk management solutions, recently published Gallagher Specialty’s Plane Talking report - reinsurance, which provides an ... Read the full article
Corebridge Financial appoints Keith Gubbay and Colin J. Parris to its Board
20th January 2025
Corebridge Financial, an American multinational financial services company, has expanded its Board of Directors with the addition of Keith Gubbay and Colin J. Parris, taking the current number of members to 13. These additions follow the announcement of Alan Colberg being elected as Chairman of the Board of Corebridge Financial, ... Read the full article
Rob Kurau named Chief Risk Officer at AXA – Global Healthcare
20th January 2025
Rob Kurau has been appointed Chief Risk Officer for AXA - Global Healthcare and AXA Life & Health Reinsurance Solutions. Kurau brings over 20 years of experience in risk management, having held senior roles across the financial services, international payment infrastructures, insurance, and healthcare sectors. Previously, he spent nearly a decade at ... Read the full article
Vouch launches new MGA Corix
20th January 2025
Insurance provider Vouch has launched Corix, its new managing general agent brand that aims to empower brokers with tailored insurance products. Collaborating with leading brokers, Corix offers specialised insurance solutions tailored to the unique and changing demands of businesses in technology, life sciences, advanced manufacturing, and consulting & tech services. "Corix is ... Read the full article
BDO Cayman strengthens audit team with Gordon Procter and Rahul Garg
20th January 2025
BDO in the Cayman Islands has announced the appointments of Gordon Procter as Audit Director and Rahul Garg as Audit Manager. The addition of these two audit professionals align with BDO’s strategic growth plans to strengthen its insurance and reinsurance capabilities across the Caribbean. Procter brings extensive experience in the Cayman re/insurance ... Read the full article
TMHCC Specialty appoints Sam Austen as Senior Film and TV Production Underwriter
20th January 2025
Tokio Marine HCC (TMHCC) – Specialty Group, a member of the Tokio Marine HCC group based in Houston, Texas, has appointed Sam Austen as Senior Film and TV Production Underwriter. Based in London, Austen will enhance the specialist expertise in the Contingency and Professional Risk - Media, Film & TV divisions, ... Read the full article
LA fires: Average insured claim estimated at $1.9m with 17,027 structures destroyed or damaged
20th January 2025
The wildfires still burning in parts of the Palisades and Eaton areas of Los Angeles, California, have now damaged or destroyed more than 17,000 structures, with an average insured loss per structure of an estimated $1.9 million, based on the mid-point of initial insured loss estimates from catastrophe risk modellers. As ... Read the full article
PIB Group Iberia enters Portuguese market with Vitorinos Group acquisition
20th January 2025
PIB, a specialist insurance intermediary, has expanded its European footprint by entering the Portuguese market through the acquisition of Vitorinos Group PIB Group Iberia. This acquisition, still subject to regulatory approval, is a major step forward for PIB Group Iberia, supporting PIB Group's international growth strategy, the firm stated. Onno Janssen, CEO ... Read the full article
McGill and Partners boosts Irish business with key appointments
20th January 2025
Specialty insurance and reinsurance broker McGill and Partners has appointed John Barry and Jack Farrell as partners in specialty broking, in Ireland. According to McGill and Partners, the pair will play a key part in building its business in Ireland and Europe, particularly in the construction sector for both contractors and ... Read the full article
Core Specialty completes London Aviation Underwriters acquisition
20th January 2025
Insurer Core Specialty has announced it has completed the acquisition of London Aviation Underwriters, Inc. (LAU) in an undisclosed transaction. founded in 1980 by Michael E. Charlesworth, LAU handles general aviation risks, airport premises liability, and non-owned aircraft liability throughout the US. This transaction brings the company into Core Specialty's aviation and ... Read the full article
Moody’s downgrades Mercury’s ratings on California nat cat exposure
20th January 2025
Moody's has downgraded the ratings of California-based Mercury General, citing the firm's concentration in the state and significant exposure to natural catastrophes. Moody's said, "We view this as an environmental risk as part of our environmental, social, and governance considerations. As the frequency and severity of natural catastrophes increase over time, ... Read the full article
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