Reinsurance News
Julia Willberg named Global Head of Cedant Fac Underwriting for SCOR P&C
7th January 2025
French reinsurer SCOR has announced the appointment of Julia Willberg as Global Head of Cedant Facultative Underwriting for SCOR P&C and a member of the P&C Management Team. In a recent LinkedIn post, SCOR noted, “Julia brings a wealth of experience from over 25 years in the insurance industry, having led ... Read the full article
Rate adequacy in property still ‘very attractive’ despite declines at 1.1 renewals: Peel Hunt
6th January 2025
Analysts at Peel Hunt estimate that loss-free risk-adjusted rates across a diversified reinsurance portfolio fell by around 6% at the January 1st, 2025, renewals, but stress that rate adequacy remains "very attractive" in property classes, with exposure growth and lower hedging costs expected to partially offset rate decreases. Following the release ... Read the full article
Peter Settel to lead Bold Penguin as CEO and President
6th January 2025
Commercial insurance distribution platform Bold Penguin has appointed Peter Settel as its new Chief Executive Officer (CEO) and President, succeeding outgoing CEO and founder, Ilya Bodner. As per Bold Penguin, Settel holds over twenty-five years of experience in US-based property and casualty markets. Settel most recently served as Enterprise Chief Strategy and ... Read the full article
Clyde & Co merges with Tillman Batchelor to expand US insurance operations
6th January 2025
Global law firm Clyde & Co has merged with Dallas-domiciled, law firm Tillman Batchelor LLP, further expanding the company's North American insurance practice and capabilities in the southwestern US. As part of the merger, Mark Tillman and Colin Batchelor have joined Clyde & Co’s Dallas office as partners with a team ... Read the full article
Chubb’s Sara Farrup joins AXIS as Head of Global Markets
6th January 2025
As part of a previously planned leadership transition, insurer and reinsurer AXIS Capital Holdings Limited has appointed Sara Farrup (nee Mitchell) as Head of Global Markets, reporting to Vince Tizzio, President and Chief Executive Officer, AXIS. She will be a part of the firm’s Executive Committee and succeeds Mark Gregory, who ... Read the full article
Efficient reinsurance structures key for 1.1 cyber renewals: Gallagher Re
6th January 2025
As per Gallagher Re's 1st View report, the cyber renewals at 1.1 2025 focused on securing the most efficient reinsurance structures amid "extremely healthy" levels of capacity from reinsurers and an improved understanding of tail risk from buyers. The cyber section of the reinsurance broker's report highlighted heightened competition for both ... Read the full article
Rates-on-line for retro cat XoL fall 10-20% at 1.1 2025, says Howden
6th January 2025
According to Howden's 1.1 2025 renewals report, risk-adjusted retrocession catastrophe XoL rates-on-line fell by between 10% and 20% at the January reinsurance renewals, as a result of trapped capital stemming from Hurricane Milton being negligible and supply dynamics increasingly favouring buyers as additional capacity entered the market. The broker explained that ... Read the full article
Roamly expands reinsurance partnerships to drive growth and innovation
6th January 2025
Roamly has expanded its reinsurance partnerships to include SiriusPoint, Spinnaker, Apollo, ICW, Vantage, and Ladder Re. Roamly is a global digital insurance technology company offering AI-powered solutions that help insurers develop products, streamline operations, and enhance the consumer experience. This expanded reinsurance panel will support Roamly in continuing its record growth by ... Read the full article
Everest’s Paretchan joins Ascot US as SVP of partnership engagement
6th January 2025
Insurer and reinsurer Ascot US has appointed Vahan Paretchan as Senior Vice President of Partnership Engagement for its Southeast region. In the role, he is expected to work closely with Ascot’s US colleagues, where he will help provide the firm's clients with customised, specialty insurance solutions in order to meet current ... Read the full article
Guy Carpenter global property cat ROL index down 6.6% at Jan 1 reinsurance renewals
6th January 2025
Reinsurance broker Guy Carpenter's latest Global Property Catastrophe Rate on Line (ROL) Index has fallen 6.6% at the January 1st, 2025, reinsurance renewals, which reflects the reported rate decreases seen across global property cat treaties. Guy Carpenter updates its Global and Regional Property Cat ROL Indices at key renewal dates, and ... Read the full article
Marsh Asia appoints Brent Clawson as Global Placement Leader
6th January 2025
Insurance broker and risk advisor Marsh has announced the appointment of Brent Clawson as Global Placement Leader for Marsh Asia. Clawson brings nearly two decades of industry experience, particularly in Asia. He has been working at Marsh for over a year now, joining the firm in September 2023 as Insurer Consulting ... Read the full article
Southeast US SCS and flooding may cause hundreds of millions in losses: Aon
6th January 2025
The severe convective storm (SCS), tornadoes, and flooding that struck the southeast US from December 26-29 may lead to combined economic and insured losses reaching hundreds of millions of USD, according to global insurance and reinsurance broker Aon. The multi-day severe weather outbreak brought heavy rainfall, wind gusts over 70 mph, ... Read the full article
Newline Group adds Malcolm Newman as a Non-Exec Director
6th January 2025
Newline Group, a specialty insurance provider, has appointed Malcolm Newman as a new Non-Executive Director. Newman is a re/insurance industry veteran with over four decades of experience, most recently serving as the Chairman of Tindall Riley & Co., before which he served as a Non-Executive Director. His career started as a Trainee ... Read the full article
Allianz Australia to sell Hunter to private equity firm Pemba Capital Partners
6th January 2025
Australian private equity firm Pemba Capital Partners has agreed to acquire Allianz Australia Limited’s wholly owned subsidiary, Hunter Premium Funding. Hunter allows businesses to pay their insurance premiums in regular instalments rather than as one large lump sum. The Hunter brand will remain unchanged and will benefit from continued investment in its ... Read the full article
US E&S insurance market poised to maintain upward trajectory, says Conning
3rd January 2025
The Excess and Surplus (E&S) insurance market has experienced significant growth, achieving a 21% compound annual growth rate over the past five years, surpassing $104 billion in premiums in 2023, and is expected to continue its upward trajectory, according to a report by Conning. Lauryn Kothavale, Vice President of Insurance Research ... Read the full article
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