Reinsurance News
Broadstreet appoints Michael O’Connor as CEO
20th December 2022
Insurance brokerage BroadStreet has appointed Michael O’Connor to the role of CEO following a decision from its board of directors. The firm said in a statement that O’Connor joined in June 2022 after twelve years at Aon where he had been co-president and served on that company’s executive committee. Rick Miley, executive ... Read the full article
WTW unveils new strategy in corporate risk and broking
20th December 2022
The North American Corporate Risk and Broking (CRB) division of WTW has launched a new strategy that looks to enhance its client proposition through aligning the entire value-chain of internal resources through industry specialisation. A statement from the firm said that the new strategy brings together all WTW’s North American CRB ... Read the full article
AXA XL appoints Felix Winzap to dual roles in Zurich
20th December 2022
AXA XL has appointed Felix Winzap to the roles of Global Head of Credit and Surety and Head of Reinsurance, Switzerland, according to a post on the firm’s official Linkedin page. The post said that Winzap will be responsible for leading the Zurich credit and bond underwriting team. His Global Head of ... Read the full article
Wakam’s Syndicate 1347 receives Lloyd’s approval
20th December 2022
European B2B2C insurer Wakam, has announced that Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting for the 2023 year of account. The syndicate was launched under Lloyd’s Syndicate in a Box (SIAB) initiative and will operate on the Lloyd’s platform. It will be managed by Polo Managing Agency (PMA), ... Read the full article
Pen Underwriting launches regional claims hub & names trio of senior hires
20th December 2022
Pen Underwriting has announced the launch of a new regional claims hub in Chelmsford dedicated to managing commercial property and liability claims, appointing Paul Clayton as Senior Claims Handler, and naming Simon Jenkinson and Annahita Mansourpour as Technical Claims Team Leaders. Pen suggests that this new hub will complement its existing ... Read the full article
Moody’s upgrades Talcott’s ratings, outlook remains positive
20th December 2022
Moody’s has upgraded the insurance financial strength (IFS) ratings of Talcott Resolution Life Insurance Company and Talcott Resolution Life and Annuity Insurance Company (TLA) to Baa2 from Baa3, the outlook of the Talcott entities remains positive. Moody's upgrade and continued positive outlook reflect the firm's view that recent large transactions along ... Read the full article
Aon names new Head of Articulating Value, Reinsurance Solutions
20th December 2022
Professional services firm Aon has appointed Paloma Quiroga Arias as Head of Articulating Value, Reinsurance Solutions. In this role, she will support Aon's long term global growth strategy, developing and tailoring value propositions that maximises the value that the firm delivers to its clients. Paloma has worked for Aon since 2013. In ... Read the full article
Bernardo Serrano Lopez becomes new CEO of AXA Philippines
20th December 2022
Global insurer AXA has appointed Bernardo Serrano Lopez as new President and Chief Executive Officer of its Philippines business. Serrano Lopez joins AXA Philippines after a nine-year tenure at AXA Colpatria. Based in Colombia he most recently served as CEO of the company, which he built to become the third largest ... Read the full article
PERILS raises Nanmadol estimate, but losses considered “benign”
20th December 2022
Catastrophe loss aggregator PERILS has released a second industry loss estimate for Typhoon Nanmadol, raising its initial insured loss figure from JPY 114 billion (USD 860 million) to JPY 120 billion (USD 910 million). At this level, PERILS analysts said their estimate confirms the “manageable” nature of the event, and ... Read the full article
Swiss Re lays out economic predictions for 2023 and 2024
20th December 2022
A new article from reinsurance giant Swiss Re on economic and financial risk states that it expects to see central banks continue to hike interest rates, with inflation falling towards target levels in 2024. The firm said in the note that it expects to see a milder recession within the Euro ... Read the full article
Beazley poised to expand presence in property market throughout 2023
20th December 2022
With an expected turnaround in the fortunes of the property re/insurance markets throughout 2023, Beazley’s Group Head of Treaty, Patrick Hartigan, suggests the firm is ready to step up and support insurers and commercial buyers to find cover as peers pull back in the face of investor disillusionment due to ... Read the full article
KBW warns on reinsurance premium growth for AXIS shareholders
20th December 2022
Analysts from Keefe, Bruyette & Woods (KBW) have warned that shareholders in AXIS Capital could find themselves disappointed next year over growth in reinsurance premiums. The firm said in a new, eleven-page note that it had downgraded shares in the firm to ‘market perform’ from ‘outperform’, while adjusting downwards its target ... Read the full article
RAB raises concerns over references to reinsurance in Dutch bank consultation
20th December 2022
The Reinsurance Advisory Board (RAB) has raised a series of concerns regarding references to reinsurance in a consultation by De Nederlandsche Bank (DNB) on insurer resolvability. The RAB states that its response relates to Article 9.2d, which stipulates that the DNB shall assess the extent to which resolvability is taken into ... Read the full article
Allianz (AGCS) installs dedicated ESG organisation
20th December 2022
Allianz Global Corporate & Specialty (AGCS) has installed an established, dedicated in-house organisation for Environmental, Social & Governance (ESG) activities. The firm has made several high-level leadership roles and appointments for the new leadership team. Gabrielle Durisch will join the firm from Zurich Insurance Group in April 2023 as the new Global Head ... Read the full article
DUAL Europe names Francesca Giurato Underwriting Director, Fine Art
20th December 2022
DUAL Europe has appointed Francesca Giurato with the role of Underwriting Director, Fine Art, DUAL Europe. Giurato is based in Milan, Italy and brings a strong level of industry experience towards her new role. She previously worked at Chubb and then at AXA XL for 12 years, where she held the role ... Read the full article