Reinsurance News
AXA XL grows in Australia with trio of appointments in Perth
17th October 2024
AXA XL has grown its presence in the Australia market by appointing Chris McElroy and Amanda Rattue as Senior Underwriters for Property and Financial Lines respectively, while also naming Trent Jeuring as Senior Underwriter, Casualty. McElroy joins AXA XL from Berkshire Hathaway Specialty Insurance, where he served as senior property underwriter ... Read the full article
Cytora partners with Meetrisk to enhance marine insurance risk evaluation
17th October 2024
Cytora, a digital risk processing platform, has teamed up with Meetrisk, a provider of advanced marine risk intelligence. This collaboration integrates Meetrisk's Marine Platform into Cytora's sophisticated underwriting productivity tool, enabling marine insurers to utilise improved resources for accurate risk assessment and management of vessels, fleets, and portfolios. As a result, insurers ... Read the full article
ASIC enters into strategic capital partnership with Veritex Bank
17th October 2024
Dallas-domiciled surplus lines insurance carrier, AM Specialty Insurance Company (ASIC), has entered a strategic capital partnership with Veritex Bank by obtaining a $20 million senior secured loan facility through a private placement with Veritex Community Bank. In the initial phase of the senior secured loan facility, the agreement includes a multimillion-dollar ... Read the full article
AXA rebrands China reinsurance unit to AXA International Re
17th October 2024
AXA Insurance has renamed its China reinsurance business, XL Re China, to AXA International Re, according to finews.asia. This reportedly follows AXA’s acquisition of the mainland China unit in April. Sally Wan, CEO of AXA Greater China, commented, "This strategic renaming to ‘AXA International Re’ underscores our commitment to the mainland Chinese ... Read the full article
HCI expects to pay up to $750m to policyholders from hurricanes Debby, Helene & Milton
17th October 2024
Insurer HCI Group expects to pay between $600 million and $750 million to policyholders across all three events, with net retained losses for the company far lower at around $185 million as a result of its comprehensive reinsurance arrangements. The property and casualty insurer has provided an update on the hurricane ... Read the full article
Starwind Specialty hires Kirby to lead newly launched Political Violence & Terrorism program
17th October 2024
Starwind Specialty Insurance Services, has launched a new Political Violence and Terrorism (PVT) program - Starwind PVT, and has appointed Chris Kirby to lead as Program President. Launched on October 1, the PVT program is focused on providing coverage for physical damage, business interruption and liability coverage for terrorism, strikes, riots ... Read the full article
Asia’s growing senior population presents opportunities for insurers: RGA
17th October 2024
Growth opportunities are emerging for insurers as demand for private coverage rises among Asia's growing senior population, according to a recent report by Reinsurance Group of America, Incorporated (RGA). The report is based on a survey of 1,636 respondents aged 55 to 80 with minor health issues across China, Hong Kong, ... Read the full article
Resilience adds ex-CrowdStrike executive, Matthew Polly as Chief Revenue Officer
17th October 2024
Cyber risk solutions company Resilience has appointed industry veteran and former CrowdStrike executive, Matthew Polly as Chief Revenue Officer (CRO). As Resilience’s primary revenue strategist, Polly will help accelerate all existing and future revenue streams. He will work across Resilience’s executive and senior leadership team to align, integrate, and scale the ... Read the full article
Coalition helps UK policyholders recover stolen funds from cyberattacks with new service
17th October 2024
Coalition, an active insurer focused on preventing digital risks, has launched a service dedicated to recovering funds stolen by cyber attackers in the UK. Designed to intercept funds in the banking system before an attacker can move them, the cyber insurer’s new ‘clawback’ service has recently proven a success with the ... Read the full article
Applied Underwriters Aerospace expands leadership amid market shifts
17th October 2024
Applied Underwriters Aerospace, a division of Applied Underwriters specialising in insurance and risk management for the aerospace and space exploration industries, has expanded its role as the space insurance market experiences significant changes. These shifts, driven by geopolitical factors and technological innovations like those introduced by Elon Musk, position the company ... Read the full article
Rising uncertainty drives demand for re/insurance in Europe: Swiss Re
16th October 2024
Demand for re/insurance is up as the world experiences increasing uncertainty, and this volatile environment and elevated risk landscape creates both challenges and opportunities for insurers and reinsurers in Europe, said Swiss Re’s Leopoldo Camara ahead of this year's Baden-Baden. The current uncertain environment increases the need for dependable risk assessment, ... Read the full article
Miller names Clare Lebecq as Chief Operating Officer
16th October 2024
Independent specialist insurance and reinsurance broker Miller has announced the appointment of Clare Lebecq as Chief Operating Officer, effective 2 December, 2024. In her new role, Lebecq will leverage her extensive experience in both retail and wholesale markets to support Miller's expanding operational capabilities. James Hands, CEO of Miller, stated, “As we ... Read the full article
AXA Climate renews parametric partnership with AXA México for mangroves protection
16th October 2024
AXA Climate, an arm of the global insurance group AXA, has renewed its partnership with AXA México and ClimateSeed this year to continue supporting a vital mangrove protection project. This collaboration aims to provide a parametric insurance product designed to safeguard both the community of fishermen and the vital ecosystems in ... Read the full article
MS Amlin enhances fraud detection capabilities through Synectics partnership
16th October 2024
The European unit of MS Amlin has expanded its partnership with data insight specialist Synectics in a strategic move that will enhance fraud detection and prevention measures at the quote, policy, and claims stages, across multiple lines of business. The MS Amlin unit, MS Amlin Insurance, which has previously worked with ... Read the full article
Marc Van der Veer named Optio Group MD, Europe
16th October 2024
Optio Group, a specialty managing general agent (MGA) has announced the appointment of Marc Van der Veer to the newly created role of managing director, Europe, effective immediately. In his newly assumed position, Van der Veer will be tasked with the responsibility of initiating and coordinating further acquisitions throughout Europe, aligning ... Read the full article
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