Reinsurance News
Howden names Marc Lehmann Head of Climate Analytics
14th December 2022
International insurance broker Howden has announced the appointment of Marc Lehmann as Head of Climate Analytics. Lehmann brings an array of both modelling and engineering experience to the role, having previously held senior Catastrophe, ESG, Climate Risk, and Climate Change resilience positions at KPMG, AIG and WTW. He joins Howden from Jupiter ... Read the full article
Wilner joins Mayer Brown C&S practice & insurance team
14th December 2022
Jared Wilner has joined law firm Mayer Brown as a partner in its Corporate & Securities practice and Global Insurance Industry Group in New York. He focuses his practice on advising domestic, foreign and alien insurers, reinsurers, insurance intermediaries and other insurance industry participants on a spectrum of insurance regulatory and ... Read the full article
Allianz maintains position as largest European non-life insurer
14th December 2022
New data from AM Best shows that Germany’s Allianz continues to hold on to its position as the largest European non-life insurer, based on gross premiums written for 2021. Allianz topped the rating agency’s table of the 30 largest insurers, boasting GWP of €60,273 million, up 4.3% from €57,772 million in ... Read the full article
Toby Vallance elected as President of London FOIL
14th December 2022
London FOIL, a division of the Forum of Insurance Lawyers (FOIL), has elected Toby Vallance, Partner at international law firm DAC Beachcroft, as President. He succeeds Gavin Coull of law firm Birketts, who acted as President during a particularly difficult time for the market, which faced the initial impact of the ... Read the full article
Insurance Europe outlines changes needed to IRRD proposal
14th December 2022
Insurance Europe has released a report highlighting a number of significant changes needed to the European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD) that would make it fit for purpose and avoid subjecting insurers and their policyholders to unnecessarily costly regulatory burdens. It is important to note that ... Read the full article
Keystone announces NJAA to merge into independent agency network
14th December 2022
Keystone Insurers Group has announced it has entered into a definitive agreement to merge New Jersey Agents Alliance (NJAA) into its nationally ranked network. Terms of the transaction were not disclosed, though Keystone has confirmed NJAA’s 22 members unanimously approved the agreement. Additionally, NJAA Founder and President, Bob Mazey, has accepted ... Read the full article
AM Best upgrades China non-life outlook to stable
14th December 2022
AM Best has revised its market segment outlook on the China non-life insurance industry to stable from negative due to the segment’s improved underwriting performance and better growth prospects as China eases its zero-tolerance COVID-19 policy. The rating agency notes that non-life companies’ net profit increased by 20% year over year ... Read the full article
Marcato Marine Insurance Services sets sail
14th December 2022
Beat Capital Partners and industry figure Kevin Wolfe are teaming up to launch specialty marine underwriting agency Marcato Marine Insurance Services. The pair said in a joint statement that Wolfe would be the president and CEO of the company, with the rest of the executive team being comprised by Marq Wolfe, ... Read the full article
Evertas closes $14mn Series A round
14th December 2022
Crypto insurance company Evertas has announced the successful closure of a series A financing round. Led by Polychain Capital, the round raised $14 million, and in addition to a $5.8 million seed financing, this puts the company’s total outside investment at $19.8 million. In a press release, Evertas noted that it intends ... Read the full article
Sharp reduction in nat cat reinsurance capacity at renewals: Clyde & Co’s Barbosa
13th December 2022
There is likely to be a sharp reduction in available nat cat reinsurance capacity at upcoming renewals following a climate change-induced increase in the frequency and severity of European nat cat events, suggests Clyde & Co's Eva-Maria Barbosa. The influence of climate change on natural catastrophe losses is causing reinsurers to ... Read the full article
Lloyd’s Council grants approval to Lime Syndicate Management
13th December 2022
Lloyd’s Council has granted ‘in principle’ approval to Lime Syndicate Management to be the first managing agency in Lloyd’s since Reconstruction & Renewal over 25 years ago, established solely to provide management services for third-party syndicates. A statement from Lime SM said that its technology solution JUICE provides a cost-effective, legacy-free ... Read the full article
Acrisure expands insurance leadership team
13th December 2022
Fintech firm Acrisure has expanded its insurance leadership team. The firm said in a statement that the updated team includes Matthew Kirk, president for North American retail; Andy Schutt, head of global insurance operations; and Bob Arowood, president for north American P&C wholesale. It also includes Steve Brown, head of private risk ... Read the full article
Gallagher Re suggests TWIA commences reinsurance renewal as soon as possible
13th December 2022
In light of the hardening reinsurance market environment, insurance and reinsurance broker Gallagher has called on the Texas Windstorm Insurance Association (TWIA) to begin its reinsurance planning and buying as soon as possible. TWIA's Board meeting is scheduled for today, during which management will discuss the company's 2023 reinsurance programme amid ... Read the full article
Swiss Re CorSo confirms Kwan as Head of Distribution Management, NA
13th December 2022
Swiss Re Corporate Solutions, a division of the global reinsurer, has announced the appointment of Allen Kwan as Head of Customer & Distribution Management of North America, effective January 1, 2023. In this New York based role, he will oversee the customer and broker distribution strategy for the United States and Canada, ... Read the full article
L&G launches reinsurer to target Canadian pension risk transfer
13th December 2022
The Bermuda-based reinsurance arm of Legal & General Group, Legal & General Reinsurance Company No. 2, has launched to target the Canadian pension risk transfer market and has been assigned a Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) by AM ... Read the full article