Reinsurance News
New Floodbase solution augments existing parametric wind policies
27th January 2023
Floodbase, a climate adaptation technology company that provides flood risk analysis, has announced its rebranding and also launched a new feature that enables insurers to add flood protection to existing wind parametric policies. Formerly Cloud to Street, Floodbase says its new solution aims to provide additional protection against stronger, slower and ... Read the full article
BMS hires Aviva’s Eyre as Managing Director of Construction
27th January 2023
BMS, an independent specialist re/insurance broker, has announced the appointment of Caroline Eyre as Managing Director of Construction, effective April 2023. She brings to the firm over two decades of experience in the insurance industry. Eyre joins BMS after spending close to four years with Aviva, where she most recently held ... Read the full article
Howden CAP and AXA XL announce API collaboration
27th January 2023
Howden CAP, part of Howden Broking, and AXA XL have announced they will collaborate to develop structured credit Application Programming Interfaces (APIs). This development, a Howden spokesperson said, reflects Howden CAP and AXA XL’s commitment to utilise digital platforms to enhance efficiency and market integration, and to provide seamless insurance solutions ... Read the full article
Analysts see Thierry Léger appointment as positive for SCOR, negative for Swiss Re
27th January 2023
Analysts at JP Morgan see the recent appointment of Thierry Léger as Chief Executive Officer (CEO) as a positive for SCOR in light of his strong track record of fixing issues, although the loss of his capabilities as Chief Underwriting Officer (CUO) is seen as a negative for Swiss Re. Read the full article
W.R. Berkley posts record net income for 2022
27th January 2023
Re/insurance holding company W.R Berkley Corporation has reported a net income of $382.2 million for the fourth quarter of 2022, a major increase compared to 2021’s $294.4 million. At the same time, the firm witnessed a record net income of $1.4 billion for the full year, compared to last years $1.0 ... Read the full article
AJ Gallagher’s brokerage & risk management units post 16% organic revenue growth in Q4
27th January 2023
Global insurance and reinsurance broker, Arthur J. Gallagher & Co., has reported adjusted net earnings of $367.9 million for the fourth quarter of 2022 within its brokerage operations, which alongside higher earnings in its risk management segment, more than offset an elevated loss within the corporate division. Company-wide, adjusted net earnings ... Read the full article
Lloyd’s market on the cusp of a new golden era, says JP Morgan
27th January 2023
Analysts at JP Morgan have suggested that the Lloyd’s market is on the cusp of a "new golden era." The analysts state that the Lloyd’s space will continue as a cyclical market, though in 2023, they anticipate the delivery of far stronger returns that won't just rely on "good luck." YTD underwriting ... Read the full article
AXA UK commits to Flood Re’s Build Back Better scheme
27th January 2023
AXA UK has announced that it has signed up to Flood Re’s Build Back Better scheme. Launched in April 2022, the Build Back Better scheme is a joint initiative between the UK insurance industry and the UK Government to promote the availability and affordability of flood insurance. By singing up to ... Read the full article
Miller forms new structure to support UK & international growth
27th January 2023
Specialist re/insurance broker Miller has announced the re-alignment of its business into two divisions, Miller UK and Miller International. The firm states that Miller International, which launched at the beginning of 2023, will oversee all activity across Miller’s global offices, supporting its ambitions for continued expansion. Meanwhile, Miller UK, which came into ... Read the full article
Beazley launches new private equity liability insurance product
27th January 2023
Beazley, the specialist insurer, has announced the launch of a new private equity liability insurance product. The insurer stated that the tailored product is designed to focus on the inherent directors and officers (D&O) risks within the long-term lifecycle of portfolios held by private equity firms. Across the full lifecycle of investments, ... Read the full article
Lockton launches Sweden office to expand Nordic footprint
27th January 2023
Insurance broker Lockton has announced the opening of a new office in Stockholm, Sweden, as part of the firms expanding proposition to clients in the region. Lockton stated that the office is expected to be operational by the end of January, following the arrival of two key hires and industry experts, ... Read the full article
CoreLogic appoints Selma Hepp as Chief Economist
27th January 2023
CoreLogic, a global provider of property information, analytics, and data-enabled solutions, has appointed Selma Hepp as Chief Economist. In July 2022, she was named interim chief economist. Prior to her interim role, Hepp served as an executive of research and insights in the Office of the Chief Economist. Within her role, she leads ... Read the full article
MIS launches hail within its GEO tech platform
27th January 2023
InsurTech McKenzie Intelligence Services (MIS), has launched a U.S. market-first product aimed to accelerate incident and claims responses following hailstorm events. With the addition of hail to the Global Events Observer (GEO), insurers and loss ajustor clients will now be able to gain data-driven, actionable insights for hailstorm events, with near ... Read the full article
SCOR hires Swiss Re CUO Léger as its new CEO
26th January 2023
Thierry Léger, who has served as the Group Chief Underwriting Officer (CUO) of global reinsurer Swiss Re since 2020, has been named as the new Chief Executive Officer (CEO) of French reinsurer SCOR, effective May 1st, 2023. Léger has been with Swiss Re, one of the world's largest reinsurers, for 25 ... Read the full article
Felipe Hoetz joins Clyde & Co Chile to lead insurance practice
26th January 2023
Global law firm Clyde & Co has hired re/insurance and claims settlement expert, Felipe Hoetz as a partner to lead its Chile insurance practice. Hoetz holds over two and half decades of experience and is the legal representative in Chile for the Lloyd’s of London insurance market. He joins Clyde & Co ... Read the full article