Reinsurance News
Insurance Council of Australia launches insurer roadmap to net zero
9th November 2022
The Insurance Council of Australia has released a paper outlining the way insurers can achieve net zero emissions for their operations by 2030 and across the entirety of insurers’ activities by 2050. The roadmap, Towards a Net Zero and Resilient Future, was released on the 2nd of November, a week before ... Read the full article
Clear indications for a widespread hard market: Munich Re CFO
8th November 2022
As the market heads towards the important January 1st, 2023, reinsurance renewals, Christoph Jurecka, Chief Financial Officer (CFO) of German reinsurance company, Munich Re, is optimistic that further rate hardening will not be restricted to loss-impacted lines or regions. The CFO and Member of the Board held an earnings call recently ... Read the full article
Global Indemnity reports $23.6m net income for Q3
8th November 2022
Global Indemnity Group has reported a net income of $23.6 million for the third quarter of 2022, compared to a net loss of $7.8 million from the third quarter of 2021. Gross written premiums rose to $175.8 million from $174.3 million in 2021. Gross written premiums for the year currently stand ... Read the full article
Baker steps up as Hamilton CRO, as Skerlj departs for Vantage
8th November 2022
Bermuda-based specialty re/insurer Hamilton Insurance Group has announced that Alex Baker has been promoted to the role of Group Chief Risk Officer (CRO), effective January 1st, 2023. He will replace outgoing CRO Pete Skerlj, who is leaving the company to take up a similar role at Vantage, it was announced ... Read the full article
WTW welcomes new members to North America fac team
8th November 2022
Global advisory and broking solutions company, WTW, has appointed three new senior hires to its North America Facultative team. Ivan Breen has been appointed Head of North America Facultative, Chris Lynam as Head of Property, and Andy Murray as Head of Casualty. Breen is joining WTW from Canopius, where he operated as ... Read the full article
Vantage hires Peter Skerlj as Chief Risk Officer
8th November 2022
Bermuda-based re/insurer Vantage has announced the hiring and appointment of Peter Skerlj as its Chief Risk Officer. Skerlj will, said a statement, begin his new role in February, be based in Bermuda, and report to Greg Hendrick, the firm’s chief executive officer. In this new role, he will lead the further development ... Read the full article
Apollo and Envelop Risk partner up on cyber reinsurance
8th November 2022
Specialist re/insurer Apollo is going into partnership with Envelop Risk on cyber reinsurance business. Under the partnership, the latter will underwrite a new class of cyber reinsurance business within Apollo Syndicate 1971, with effect from the 2023 year of account. Matt Newman, active underwriter of Apollo Syndicate 1971, said: “We are committed ... Read the full article
COP 27: Global re/insurers call for action to reduce impacts of climate change
8th November 2022
At COP27, the UN conference in Sharm El Sheikh, the Global Federation of Insurance Associations has called on parties to prioritise the building of resilience to the impacts of climate change to prevent loss of life and reduce economic losses from future natural disasters. The global impact on people, health, property, ... Read the full article
Optio names Victoria Barrett head of financial lines
8th November 2022
Specialty MGA, Optio Group, has announced the appointment of Victoria Barrett as head of financial lines with immediate effect. She will be based in London and report to executive chairman Matthew Fosh. In her new role, Barrett will lead and build out Optio’s existing financial lines proposition, comprising professional indemnity and ... Read the full article
Conifer closes LPT reinsurance agreement with Fleming Re
8th November 2022
Conifer Holdings, a specialty insurance holding company, has secured $20 million of adverse development cover for accident years 2019 and prior, after closing a Loss Portfolio Transfer (LPT) reinsurance agreement with Fleming Reinsurance Ltd. Under the agreement, Fleming Re will cover an aggregate limit of $66.3 million of paid losses on ... Read the full article
BILTIR appoints new Exec Director & Advisor
8th November 2022
The Bermuda International Long Term Insurers and Reinsurers (BILTIR) has appointed Christine Patton as Executive Director. At the same time, BILTIR has also appointed Curtis L. Dickinson as Executive Advisor. Patton will join BILTIR on November 21, 2022. Her executive and non-executive career in the international business sectors of Bermuda and Australia has spanned ... Read the full article
Munich Re expects Q4 boost from Hannover Re investment joint-venture: CFO
8th November 2022
Munich Re's group CFO Christoph Jurecka revealed this morning that the reinsurance company is already expecting to feel a positive effect from its investment joint-venture with rival Hannover Re, as soon as during the fourth-quarter. Reinsurance News reported earlier in November that Munich Re and Hannover Re, two of Europe’s ... Read the full article
BRP losses worsen, but organic growth up 28%
8th November 2022
Independent insurance distribution firm BRP Group has reported a net loss of $46.7 million for the third quarter of 2022, worsening nearly twofold from the loss of $24.6 million that it reported for the same period last year. This includes an operating loss of $29.9 million, versus a loss of $6.9 ... Read the full article
Sean McGovern appointed as new Chair of London Market Group
8th November 2022
The London Market Group (LMG) has announced that Sean McGovern, Chief Executive Officer, UK & Lloyd’s, AXA XL, will become its next Chair, taking up the role on January 1st, 2023. Matthew Moore, Executive Vice President and President of Underwriting at Liberty Mutual Global Risk Solutions will be stepping down at ... Read the full article
Stephen White to lead AXA XL’s Alt Risk and Captives team
8th November 2022
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of Stephen White as Alternative Risk and Captives Leader for Canada. In his new role, based in Toronto, White will oversee the continued growth of the company’s captive business in Canada, working closely with clients ... Read the full article