Reinsurance News
Wejo and Ford partner to expand end-to-end insurance offering
1st December 2022
Wejo,a provider of software solutions for smart mobility, has teamed up with Ford Motor Company to expand its end-to-end insurance offerings across the US. Through this partnership, Wejo will have access to personalized connected vehicle data from Ford vehicles in the US, which were obtained with customer consent. According to Wejo, this ... Read the full article
Aon appoints head of transaction solutions for Sub-Saharan Africa
1st December 2022
Aon has appointed Maakopi Reason Maredi as head of transaction solutions for the Sub-Saharan Africa region. The firm said in a statement that Reason will be based in Johannesburg and joins the firm from Webber Wentzel, where she was a corporate partner and gained broad corporate and commercial transactional experience. Prior to ... Read the full article
Owners of re/insurance broker BMS said to be considering £600m sale
30th November 2022
Reports suggest that investment firms British Columbia Investment Management Corp. (BCI) and Preservation Capital Partners are mulling the sale of global insurance and reinsurance broker BMS Group. According to a Bloomberg report, citing people familiar with the matter, a sale of BMS could value the broker at more than £600 million ... Read the full article
BHSI makes two promotions for its US Executive & Professional Lines Team
30th November 2022
Berkshire Hathaway Specialty Insurance (BHSI) has announced a pair of promotions on its US Executive & Professional Lines team. Shelley Norman has been named Senior Vice President, Management Liability, US, and Jason Preston has been named Senior Vice President, Management Liability, Central Region. Norman, brings more than 25 years of experience towards ... Read the full article
Amwins acquires wholesale business from Franklin Street
30th November 2022
Amwins, a global distributor of specialty insurance products and services, has purchased Arena Special Risks' wholesale business from commercial real estate and retail insurance firm Franklin Street. Both Amwins and Franklin Street have a long-standing relationship and both company’s recognise the exciting growth opportunity that exists for this wholesale property business on a ... Read the full article
AXA XL adds senior pair to Client Relationship team in Americas
30th November 2022
AXA XL, the property & casualty and specialty risk division of AXA, has announced the additions of Rana Gillmon as Senior Client Relationship Leader and Allan Jackson as Client Relationship Leader. Both are based in Atlanta and report to James Martin, Head of Client Management for the Americas. With over 21 years' ... Read the full article
Progressive Corporation becomes largest US motor insurer: GlobalData
30th November 2022
According to GlobalData, Progressive Corporation has overtaken State Farm to become the largest motor insurer in the US. The company’s growth was largely attributed to its expanding for-hire transportation business, says GlobalData, alongside higher advertising campaigns and its affiliation with a larger number of insurance agencies. As shown in the chart below, ... Read the full article
Chubb appoints Real Estate & Hospitality Industry Practice Leader
30th November 2022
Chubb has named Lyndsey Christofer as Real Estate & Hospitality (REH) Industry Practice Leader, a role that will see her oversee the strategic direction of the practice and lead Chubb's REH-dedicated underwriting, risk consulting and claims specialists. In her new role, Christofer will also oversee Chubb's primary casualty line of business ... Read the full article
Charles Taylor acquires Ohio-based TPA The Matrix Companies
30th November 2022
Independent global provider of claims solutions, Charles Taylor, has announced it has acquired The Matrix Companies, a third-party administrator and risk management specialist. The acquisition is set to broaden Charles Taylor’s portfolio by including Matrix’s full spectrum of risk management and workplace safety solutions. It will also provide Matrix clients with national ... Read the full article
USI Insurance Services and GK8 team up on crypto insurance cover
30th November 2022
Broker and consulting firm USI Insurance Services is to team up with platform GK8 to launch a new plan giving the latter’s customers up to $1bn of dedicated cover. A joint statement from the two firms said that plan will allow GK8’s crypto custody solution offers access to the highest insurance ... Read the full article
Re/insurance investing heavily in preventing nature loss: Geneva Association
30th November 2022
The Geneva Association has released a new report saying that insurers and reinsurers are now investing heavily in combatting nature degradation and biodiversity loss. The report, Nature and the Insurance industry: Taking Action towards a Nation-Positive Economy, says that by taking action now, re/insurers can help reduce nature-related risks and incentivise ... Read the full article
Rokstone Agriculture acquires specialist team to launch new Farm & Ranch Division
30th November 2022
Rokstone Agriculture Risk Underwriters, the US Agriculture division of the international speciality re/insurance MGA, Rokstone, has acquired senior underwriters Joshua Lauth and Michael Theibert to launch a new specialist Farm and Ranch division based in Ohio. Joshua Lauth, who has been appointed President, was previously Agribusiness Region Leader at Westfield. During ... Read the full article
Commercial lines premiums up YoY through Q3: Applied
30th November 2022
Applied Systems, a global provider of cloud-based software that powers insurance businesses, has released the third quarter results of the Applied Commercial Index, the Canadian insurance industry’s premium rate index. The index shows that average premium rates increased year-over-year in Q3, while quarterly rate change experienced variability across the most commonly ... Read the full article
Christine DeBiase joins Allstate as Chief Legal Officer
30th November 2022
US primary insurer Allstate has announced that Christine DeBiase will join the company as Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary, effective January 3rd, 2023. In this role, DeBiase will lead Law and Regulation and Allstate’s sustainability strategy. DeBiase brings more than 25 years of insurance industry and ... Read the full article
Acrisure appoints Boyd as active underwriter for Flux Syndicate at Lloyd’s
30th November 2022
Global insurance broker and fintech platform, Acrisure, has appointed Richard Boyd as active underwriter for Flux Syndicate at Lloyd's. Boyd joins Acrisure from Allianz Risk Transfer (ART), having begun his career there in London in 2005, and moving to ART Bermuda in 2008. Boyd subsequently became head of insurance-linked markets at the ... Read the full article