Reinsurance News
Ageas Re opens Zurich branch, appoints Anne Deister as Branch Manager
8th November 2024
Ageas Re, the reinsurance brand of international insurance group Ageas, has opened a new branch in Zurich and appointed Anne Deister as Branch Manager. The establishment of Ageas SA/NV Zurich Branch (Ageas SA/NV, Brussels, Swiss Branch Zurich) allows the company to write reinsurance contracts directly from Zurich on Ageas SA/NV’s established ... Read the full article
Clemens Jungsthöfel to succeed Jean-Jacques Henchoz as CEO of Hannover Re
8th November 2024
Jean-Jacques Henchoz, Chief Executive Officer (CEO) of large European reinsurer Hannover Re, has decided to leave the company and will be succeeded by Clemens Jungsthöfel, effective April 1st, 2025. Henchoz, who has led the reinsurer since 2019, requested not to extend his expiring contract, and will leave the firm's Executive Board ... Read the full article
Enstar shareholders approve acquisition by Sixth Street
8th November 2024
Global legacy re/insurance specialist Enstar Group Limited, has confirmed it is to be acquired by Sixth Street after it received the necessary shareholder approval. Sixth Street had previously proposed to acquire Enstar in a $5.1 billion transaction, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors ... Read the full article
Steadfast expands London market capabilities with acquisition of H.W. Wood & HWI France
8th November 2024
Australian insurance broking and distribution group Steadfast has acquired H.W. Wood Limited and HWI France to expand its London market capabilities for a purchase price of £23.5 million. The acquisition will be funded from Steadfast’s existing corporate debt facilities and free cashflow Forecast to be EPS accretive from the date of ... Read the full article
Arch promotes Gansberg and Rajeh to Presidents of insurance, mortgage and reinsurance
8th November 2024
As part of its long-term succession planning, Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has, effective immediately, promoted David Gansberg to President of Arch’s Insurance Group and Maamoun Rajeh to President of Arch’s Mortgage and Reinsurance groups. Gansberg, who has been the Chief Executive Officer (CEO) of Arch’s Mortgage Group ... Read the full article
Jonathan Rake to become CEO of Swiss Re Solutions as Russell Higginbotham departs
8th November 2024
Russell Higginbotham is leaving reinsurance giant Swiss Re after three decades with the company, with Jonathan Rake taking over as Chief Executive Officer (CEO) of Swiss Re Solutions, effective January 1st, 2025. Rake joined Swiss Re from Zurich in 2016 as CEO Singapore, Head of South East Asia, and since July ... Read the full article
Everest names Emily Davis as Head of Reinsurance Global Specialties
8th November 2024
Everest Reinsurance, the reinsurance division of Bermuda-domiciled Everest Group, Ltd., has appointed Emily Davis to lead its Global Specialties business, reporting line to Jill Beggs, Reinsurance Executive Vice President and Chief Operating Officer. The firm's Global Specialties segment includes Aviation, Marine, Cyber, Engineering, and Parametric Solutions. Most recently, Davis served as Everest ... Read the full article
Trium Cyber leverages CyberCube’s Portfolio Manager to boost market growth
8th November 2024
Trium Cyber, the authorised service company for Syndicate 1322 at Lloyd’s, is leveraging CyberCube’s cyber risk analytics platform, Portfolio Manager, along with its accompanying CyberConnect API product, to support market growth. Readers will recall that in 2023 Trium launched as the first ever Lloyds-approved mono-line Cyber syndicate, providing coverage to ... Read the full article
Pro Global expands digital services capabilities with Kirsty Lovegrove at the forefront
8th November 2024
Pro Global, an advisor in the specialist insurance sector, has announced the expansion and enhancement of its Digital Services capabilities, now led by Kristy Lovegrove, Group Head of Technology. This strategic initiative aligns Pro’s Global Digital Services with the growing need for automation and technology-driven efficiencies among re/insurers worldwide. Chris Everson, Chief ... Read the full article
Wright Flood partners with Orange to co-brand flood policies
8th November 2024
Wright National Flood Insurance Company has announced its partnership with Orange Insurance Exchange (Orange) to co-brand flood policies. Wright Flood will service, administer, and issue flood coverage under the National Flood Insurance Program (NFIP) for Orange policyholders and agents. Patricia Templeton-Jones, President of Wright Flood, expressed excitement about the new partnership, stating, ... Read the full article
PIC concludes £190m buy-in with Atradius UK pension scheme
8th November 2024
Pension Insurance Corporation plc (PIC), a specialist insurer for defined benefit pension schemes, has completed a £190 million buy-in of the accrued benefits in the Atradius UK Pension Scheme (The Scheme). The buy-in comprises 361 current pensioners and dependents, 344 deferred members, and 66 active members. This transaction ensures the scheme’s ... Read the full article
WTW appoints Karen Grote as Division LOB Leader for NA Life Practice
8th November 2024
Global insurance brokerage WTW has appointed Karen Grote as Division Line of Business Leader for the North America Life Practice within Insurance Consulting & Technology (ICT). In her new role, Grote will drive growth and enhance client value across WTW’s Life Practice, working alongside Mary Bahna-Nolan, who also serves as DLL. Additionally, ... Read the full article
Zywave adds benchmarking to Cyber Quoting for enhanced coverage insights
8th November 2024
Insurtech provider Zywave has announced the addition of embedded benchmarking to its Cyber Quoting solution, enabling brokers to access industry data and loss information from similar organisations, providing their clients with enhanced insights into coverage limit adequacy and potential loss gaps. Launched in April 2024, Cyber Quoting is a centralised platform ... Read the full article
RenRe CEO expects ~$10bn of additional US cat limit purchase in 2025, sees rates trading at current levels
7th November 2024
President and Chief Executive Officer (CEO) of Bermudian reinsurer RenaissanceRe (RenRe), Kevin J. O'Donnell, expects U.S. catastrophe limit purchases to increase by around $10 billion in 2025, and foresees property cat reinsurance rates trading at current levels at the January 1st, 2025, renewals. The structural changes implemented by reinsurers, as well ... Read the full article
Lloyd’s & ABI launch guide to help re/Insurers define major cyber events
7th November 2024
Recognising cyber as one of the most significant systemic and emerging risks, Lloyd’s and the Association of British Insurers (ABI) have jointly published a guide to help re/insurers define major events and identify key factors to consider. According to Lloyd's and the ABI, the dynamic nature of cyber threats necessitates ongoing ... Read the full article
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