Reinsurance News
Industry leader Malcolm Cutts-Watson to retire after five-decade career
4th December 2024
After overseeing the merger of RISCS with Cutts-Watson Consulting (RISCS CWC) and serving as Chair for two years, Malcolm Cutts-Watson is stepping down at the end of December to retire following an illustrious five-decade career. Malcolm Cutts-Watson, a seasoned captive practitioner, director, and consultant, has amassed extensive experience working across various ... Read the full article
Generali agrees to sell Philippines business to Insular Life
4th December 2024
Italian insurer Generali has reached an agreement for the sale of its 100% stake in Generali Life Assurance Philippines, Inc. to The Insular Life Assurance Company, Ltd. According to Generali, the agreement is aligned with its strategic plan to drive sustainable growth, enhance its earnings profile, and optimise its geographical footprint. The ... Read the full article
Mortgage insurer Enact enters into two quota share reinsurance agreements
4th December 2024
Enact Mortgage Insurance Corporation, the flagship legal entity of mortgage insurer Enact Holdings, Inc., has entered into two quota share reinsurance agreements with a broad panel of highly rated reinsurers, subject to certain conditions. Under these agreements, Enact will cede approximately 27% of a portion of expected new insurance written from ... Read the full article
Lockton Re expands Capital Advisory team with addition of Aon’s Sabrina Veau
4th December 2024
Lockton Re, the reinsurance arm of the independent insurance broker, has appointed Sabrina Veau as a Senior Broker in its growing Capital Advisory team, based in London. She was most recently focused on the Strategic Advisory arm of the Capital Advisory team at Aon, where she had been for 22 years. ... Read the full article
Fitch’s outlook remains neutral for the European insurance sector for 2025
4th December 2024
Fitch Ratings has revealed that its outlook for the European insurance sector remains 'neutral' for 2025, which according to the agency, reflects resilient operational and business conditions, and disciplined pricing, amid falling bond yields, easing inflation and moderating non-life premium rates. Analysts noted that the outlooks for the underlying sectors are ... Read the full article
Proposals to develop a UK captive market will progress in 2025, says DAC Beachcroft
4th December 2024
According to analysts at international insurance law firm, DAC Beachcroft, proposals to develop a UK captive market are expected to progress further in 2025. Analysts noted that the new UK Labour government has signalled that it could be receptive to establishing a UK-domiciled captive regime. "The London Market Group (LMG), with the ... Read the full article
BHSI announces UK executive & professional lines appointments
4th December 2024
Berkshire Hathaway Specialty Insurance (BHSI) has announced the appointment of Andrew Hopper as Head of Financial Institutions, UK, and the promotion of Chris Nixon to Underwriting Manager, Executive & Professional Lines, UK. Nixon will be taking over the role from Chris Warrior, who is retiring at year end. “I am extremely proud ... Read the full article
Worldlink Specialty launches digital platform for streamlined aviation insurance solutions
4th December 2024
Worldlink Specialty, LLC, a provider of specialised insurance products for the aviation and aerospace industry, has revealed its new digital portal, offering easy access to its exclusive range of aviation insurance solutions. Brokers and their aviation clients can now enjoy a streamlined process for obtaining coverage, quotes, and payment options with ... Read the full article
TMK appoints Furness-Smith as Cyber Underwriter in APAC
4th December 2024
Tokio Marine Kiln (TMK) has announced the appointment of Georgina Furness-Smith as Cyber Underwriter in APAC, a Singapore-based role. She will take up her role on 2 January. Furness-Smith is a cyber insurance specialist with over five years of underwriting experience. She is joining TMK from AXIS Capital, where she most recently ... Read the full article
Sixth Street and Achmea establish Dutch life insurance venture
4th December 2024
Investment firm Sixth Street, the principal shareholder of Lifetri, and financial provider Achmea, have established a pension and life insurance joint venture in the Netherlands. According to the announcement, this move will see Lifetri, with a balance sheet of approximately €2 billion, and Achmea merge their pension and life portfolios into ... Read the full article
Ryan Transactional Risk announces several leadership promotions
4th December 2024
Ryan Specialty’s transactional risk managing general underwriter, Ryan Transactional Risk (RTR), has announced several leadership promotions, effective January 1, 2025. George Pearce and Rich Stansfield, the current Managing Directors, will assume the roles of Global Co-Chief Executive Officers. Luc Joordens has been appointed Managing Director International. He joined RTR in 2019, serving ... Read the full article
WTW could ‘acquire complete ownership’ of reinsurance broking JV: CEO Hess
3rd December 2024
After WTW confirmed its re-entry into the treaty reinsurance broking market earlier today, via a joint venture with Bain Capital, Chief Executive Officer (CEO) Carl Hess has explained that, over time, the company could obtain control and purchase complete ownership of the new company. The announcement revealed that WTW will ... Read the full article
Aon accelerates cyber product development & capital sourcing with O’Connell hire
3rd December 2024
Global insurance and reinsurance broker Aon has announced the appointment of Robert O’Connell as global cyber strategy and growth leader, executive managing director, within its Reinsurance Solutions business. Based in New York, O'Connell will lead the firm's initiatives to provide transformative value to Reinsurance Solutions' cyber clients and trading partners. This will ... Read the full article
Poll suggests regulatory mandates a key driver of ESG adoption in re/insurance industry
3rd December 2024
A recent Reinsurance News poll, which drew responses from hundreds of industry professionals, suggests that regulatory mandates are viewed as the primary driver for the adoption of environmental, social, and governance (ESG) principles within the re/insurance sector. Of the poll respondents, 46% identified regulatory mandates as the most influential factor driving ... Read the full article
CFC launches new excess insurance solution for secondary transactions
3rd December 2024
CFC, a provider of insurance solutions in emerging risks and a market leader in cyber, has launched a new excess insurance offering specifically designed for secondary transactions. This solution introduces a new option for the secondary transaction market, offering up to USD 150 million in excess coverage. With this, CFC now provides ... Read the full article
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