Reinsurance News
Gallagher Re announces two new appointment to Netherlands office
21st December 2022
Global reinsurance broker Gallagher Re, is strengthening its Netherlands team with the appointments of Bob Reichenfeld as Managing Director of the Netherlands, and Jord Westerloo as Divisional Director, with effect from January 2, 2023. As Head of the Dutch office, Reichenfeld will succeed Chairman Gerrit Van Emst who is preparing to ... Read the full article
Symetra Bermuda Re completes first annuity reinsurance transaction
21st December 2022
Symetra Financial Corporation, a wholly owned subsidiary of Sumitomo Life Insurance Company, has announced the launch of Symetra Bermuda Re Ltd., which has recently completed its first reinsurance transaction. According to the announcement, the new operation will reinsure certain risks of Symetra Life Insurance Company, a subsidiary of Symetra Financial Corporation. Registered ... Read the full article
Large global reinsurers’ capitalisation remains strong as earnings recover: Fitch
21st December 2022
In its December review, Fitch Ratings has suggested that the large global reinsurers peer group's capitalisation remains strong and that earnings have recovered. Insurers in this peer group include Hannover Re, Lloyd's, Munich Re, PartnerRe, SCOR, and Swiss Re. According to the rating agency, capital adequacy of all global reinsurers in the ... Read the full article
Oxbridge Re appoints Ocho Head of special projects division
21st December 2022
Cayman Islands-based reinsurer, Oxbridge Re Holdings Limited, has announced that Dr. Reuel Ocho has been appointed Head of the company’s special projects division. Oxbridge Re describes Dr. Ocho as a digital innovation, transformation, and blockchain technology strategy subject matter expert. He holds leadership experience delivering cutting-edge digital platforms, products, and strategic solutions ... Read the full article
Pool Re welcomes the UK’s ‘Martyn’s Law’
21st December 2022
Pool Re has welcomed the UK government’s announcement of its upcoming Protect Duty legislation, also known as Martyn’s Law. In a statement this week, Home Secretary Suella Braverman, set out how the law will seek to improve the safety and security of citizens so they can enjoy public premises without fear ... Read the full article
Alliant names CJ Dietzman Senior VP, Cyber Risk
21st December 2022
Alliant Insurance Services, a distributor of diversified insurance products and services, has announced the appointment of CJ Dietzman as Senior Vice President, Cyber Risk. In his new role, Dietzman will be part of the newly created Alliant Cyber, one of 14 Alliant industry-dedicated verticals. He will focus on delivering transformational cybersecurity ... Read the full article
Funding costs & market volatility to temper Korea insurers’ outlook: S&P
21st December 2022
Korean insurers profitability outlook is likely to be tempered by higher funding costs and capital market volatility, according to a recent report by S&P Global Ratings analysts. According to the report, despite challenges, Korean life insurers should see modestly higher returns in 2023 and maintain broadly stable profitability into 2024. It also ... Read the full article
Marsh announces new appointments within Marsh Captive Solutions
21st December 2022
Insurance broker and risk advisor Marsh, has made three new leadership appointments within Marsh Captive Solutions. Lorraine Stack, is succeeding Brian McDonagh - who is retiring from Marsh after 27 years of service - as leader of Marsh Captive Solutions’ Ireland operations. This is an additional role to her current position ... Read the full article
Indian regulator excludes IIB rates rate from reinsurance treaties
21st December 2022
The Insurance Regulatory and Development Authority of India (IRDAI) has written to local reinsurers asking them to stop including the burning costs rate published by the Insurance Information Bureau (IIB) for fire and engineering risks in their reinsurance treaties. In an address to the management of Indian Reinsurers and Non-Life Insurers/Foreign ... Read the full article
Challenges & opportunities ahead for Florida market: Aon’s Dittman
20th December 2022
According to Chris Dittman, Head of Florida Strategy for Aon’s Reinsurance Solutions, the state's reinsurance market is in a period of uncertainty as macroeconomic volatility and changing loss trends alter the supply and demand dynamic, however, he suggests there are still opportunities to achieve favourable outcomes at the upcoming renewals. In ... Read the full article
L&G Retirement America closes year with over $2bn in PRT transactions
20th December 2022
Legal & General Retirement America (LGRA), has hit a historic milestone by completing more than $2 billion in transactions in 2022. This includes the firm’s two largest deals to date at over $500 million each. The company completed a total of 12 pension risk transfer (PRT) transactions throughout 2022. In Q4 22 alone, ... Read the full article
Lloyds’ Tom Haddrill joins WTW as Head of Broking for CEEMEA region
20th December 2022
Broking and solutions company WTW has appointed Tom Haddrill as Regional Head of Broking for Central and Eastern Europe, Middle East and Africa (CEEMEA). Haddrill starts his new role February 20, 2023 and he will be based in London. In this role he will hold responsibility for driving growth and developing strategic ... Read the full article
BMS appoints Mike Duffy as Strategic Adviser to UK specialty business
20th December 2022
Specialist re/insurance broker BMS has appointed Mike Duffy as a strategic adviser to its UK specialty business. Duffy was appointed by Ian Gormley, UK CEO of BMS, and his appointment comes into effect in January 2023. Overall, Duffy brings more than 40 years of industry experience towards the role. Over the course ... Read the full article
Tizzio named future AXIS CEO as Benchimol is to retire
20th December 2022
Vincent C. Tizzio has been named future Chief Executive Officer (CEO) of AXIS as Albert A. Benchimol, the company’s current CEO, is to retire following a re/insurance and banking career that has spanned over four decades. After spending ten years as President and CEO of AXIS Benchimol will step down from ... Read the full article
AXA XL Re names Tristan Abend Head of Property in Bermuda
20th December 2022
AXA XL Re, the reinsurance arm of AXA's property & casualty and specialty risk division, has announced the appointment of Tristan Abend to the newly expanded position of Head of Property, responsible for both US & International business in Bermuda. Abend has worked as part of the property team for AXA ... Read the full article