Reinsurance News
MGU Navitas Assurance Partners announces its launch
30th November 2022
Navitas Assurance Partners has announced its launch as a managing general underwriter to provide alternative energy assurance solutions through investment-grade trade credit and commercial surety providers. Founder and Managing Director of Navitas Assurance Partners, Jay Rose, commented, “We are working to change the paradigm for alternative assurance. "Our team is here to ... Read the full article
Zschech named AGCS Global Head of Industry Solutions & Client Management
30th November 2022
The corporate insurance carrier of Allianz Group, Allianz Global Corporate & Specialty (AGCS), has appointed Martin Zschech to the newly created role of Global Head of Industry Solutions & Client Management. Additionally, he will also take the role of Global Industry Solutions Director for Financial Services from Paul Schiavone who, according ... Read the full article
Insurance bill for Australian storms & floods reaches $12.3bn: ICA
30th November 2022
New data from the Insurance Council of Australia (ICA) suggests the insurance bill for storms and floods since January 2020 has reached $12.3 billion. According to the ICA, every eastern state has been impacted by flooding over the last three years, while South Australia and Western Australia have been hit by ... Read the full article
AM Best says outlook for global reinsurance stable despite uncertainty
30th November 2022
Rating agency AM Best has announced it is maintaining its stable outlook on the global reinsurance segment, despite market conditions being highly uncertain. AM Best analysts noted that despite most drivers not being seen as stable in isolation, overall a number of positive factors are counterbalanced by negative ones. According to the ... Read the full article
Marsh names Paul Knowles Global Head of PEMA
30th November 2022
Global insurance broker and risk advisor, Marsh has appointed Paul Knowles as Global Head of its Private Equity and M&A (PEMA) Practice, Marsh Specialty. Knowles is currently the Head of Marsh Specialty, Continental Europe. He will start his new role in January and will relocate from London to New York in ... Read the full article
WTW launches new geopolitical risk research programme
30th November 2022
WTW, the global advisory, broking, and solutions company, has announced the launch of a new geopolitical risk research programme to bring together world experts and build resilience against escalating threats. According to the announcement, this three-year programme will apply war-gaming and scenario planning to test the vulnerability of organisations to changing ... Read the full article
SCOR completes £1.7bn longevity transaction with Balfour Beatty Pension Trust
30th November 2022
Global reinsurer SCOR has participated in a £1.7bn longevity swap transaction with Balfour Beatty Pension Pension Trust, with Zurich UK acting as an intermediary insurer, leveraging a “pass-through” structure that facilitates the risk transfer to SCOR as the reinsurance provider. This longevity swap and reinsurance deal, said the firm, will cover the ... Read the full article
Mosaic Insurance opening new office in Frankfurt
30th November 2022
Mosaic Insurance has announced the opening of an office in Frankfurt, Germany, to help drive the high demand for cyber and transitional liability coverage through Continental Europe. The office marks the sixth for Mosaic since its launch last year, following those in Bermuda, London, New York, Chicago, and Read the full article
UK non-life outlook deteriorating: Fitch
30th November 2022
Analysts at Fitch Rating have warned that their sector outlook for the UK non-life company market in 2023 is deteriorating, while the outlook for the London insurance market sector remains neutral. The rating agency says that its diverging sector outlooks reflect the different credit profiles of these two subsectors of the ... Read the full article
Aon hires Alex Wootton as EVP of global benefits division
30th November 2022
Aon has hired Alex Wootton as executive vice president of global benefits advisory and solutions. Wootton will focus on driving growth, best-in-class advisory support, thought leadership and innovation across a range of specialty health issues facing employers today. He reports to Dave Guilmette, chief executive officer of Aon’s Health Solutions. On LinkedIn, ... Read the full article
KKR invests in European insurance broker APRIL
30th November 2022
French insurance broker APRIL Group has announced it has signed a long-term strategic partnership with global investment firm KKR. KKR joins this “strategic” partnership as a majority shareholder. Details of the transaction have not been disclosed and it is yet to be approved. According to the announcement, by teaming up with KKR, ... Read the full article
DeNexus names Víctor M. Aguilar VP of Sales EMEA region
30th November 2022
Cyber risk modeller DeNexus, has appointed Víctor M. Aguilar as Vice President of Sales - Europe, the Middle East and Africa (EMEA). In his new role, Aguilar will be tasked with extending the firm’s value proposition in the cyber risk quantification and management sphere to the United Kingdom, Europe, Middle East ... Read the full article
Arthur J. Gallagher acquires P&C agency Bulen & Associates
30th November 2022
Re/insurance broking firm Arthur J. Gallagher & Co has announced the acquisition of California-based Bulen & Associates Insurance Services, Inc. Bulen & Associates is a retail property/casualty insurance agency serving commercial clients and individuals. It was founded in 1929 and is currently based in Murrieta, southern California. Agency Principal and Sales Manager Lisa ... Read the full article
Singapore insurtech Igloo extends Series B funding round to $46m
30th November 2022
Singapore-based insurtech Igloo has announced that it has successfully raised an additional $27 million in its Series B extension led by the InsuResilience Investment Fund II, bringing a close to the funding round at $46 million. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the ... Read the full article
COP27 saw climate finance breakthroughs, but failed to adapt emission pledges: Swiss Re
29th November 2022
At the COP27 climate change conference that took place earlier this month, breakthroughs on climate finance were announced, but the event failed to adopt more ambitious emissions reduction pledges and agree the further phase-out of all fossil fuels, suggests Swiss Re. A new report by Swiss Re Institute, highlights that the ... Read the full article