Reinsurance News
HDI US expands executive leadership team with Syed appointment as CITO
4th October 2024
HDI Global Insurance Company, the US subsidiary of international commercial insurer, HDI Global SE (HDI) has announced the appointment of Kashif Syed as Chief Information and Transformation Officer (CITO), a newly developed role. Kashif has been tasked with leading the strategy and direction of HDI’s business transformation US technology operations, infrastructure, ... Read the full article
FERMA urges EU to streamline cyber reporting processes
4th October 2024
The Federation of European Risk Management Associations (FERMA) has urged European Institutions to streamline cyber reporting requirements and consider the insurance implications of cyber-related legislation. The news follows the release of the Cyber Reporting Stack report - produced in partnership with WTW -, which provides risk managers with comprehensive advice on ... Read the full article
Arch Insurance appoints Tyler Bair as President of Ventus Risk Management
4th October 2024
Arch Insurance North America, part of Arch Capital Group Ltd., has announced the appointment of Tyler Bair as the new President of Ventus Risk Management (Ventus), a wholly-owned managing general underwriter (MGU). In this role, Bair will lead the company’s growth, oversee daily operations, and strengthen relationships with brokers and carrier ... Read the full article
S&P anticipates US insurers’ earnings to take a hit from Helene
4th October 2024
Early insured loss estimates from hurricane Helene currently sit in the mid-single to low-double-digit billions of dollars, however rating agency S&P Global believes that the losses will be an earnings event, rather than a capital event, for the primary US property & casualty (P&C) insurers that the agency rates. Helene made ... Read the full article
‘Consistent capacity’ is needed to help close protection gap in Africa: Shah, ASR CEO
4th October 2024
As a developing Continent that is seeing increased interest in business investment, Africa presents growth opportunities for insurers and reinsurers, Mikir Shah, CEO of Africa Specialty Risks (ASR), said in a recent interview with Reinsurance News. At the same time, there is a shortage of insurance capacity across the continent, which ... Read the full article
Wallace to lead Munich Re Specialty, North America’s Binding Authorities as CUO
4th October 2024
Munich Re Specialty – North America, part of the global reinsurance giant Munich Re Group, has appointed Tom Wallace as Chief Underwriting Officer (CUO) for the Binding Authorities business. In his new role, Wallace will be based in London with a reporting line to Nick Ash, President and Chief Executive Officer ... Read the full article
Helene insured losses will at least be in the higher single-digit billions: Aon
4th October 2024
Insurance industry losses from all perils associated with hurricane Helene, across all affected states, will likely at least be in the higher single-digit billions of USD, with economic losses forecast to be notably higher, according to insurance and reinsurance broking group Aon. Significant financial implications will be felt by much of ... Read the full article
Starwind partners with Stone Point to launch collateralized reinsurer Fractal Re
4th October 2024
TIH subsidiary, Starwind Specialty Insurance Services, LLC, in partnership with Stone Point Credit, has launched Fractal Re Ltd., a new collateralized reinsurer with $270 million of raised capital, designed to provide capacity across Starwind’s diversified portfolio of casualty programs. Leading institutional and industry investors, including minority investments from Nationwide, Enstar Group, ... Read the full article
AM Best assigns ratings to AVLA Re, company plans to begin reinsuring third-parties
4th October 2024
Ratings agency AM Best has assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) to AVLA Re Ltd. (AVLA Re) (Bermuda), with the outlook assigned to these ratings being stable. The agency noted that the ratings of AVLA Re reflect its balance sheet strength, ... Read the full article
Gerald M. Dolina to lead WTW’s Philippines and its CRB business
4th October 2024
Global insurance broker WTW has appointed Gerald M. Dolina as Head of Philippines, and Head of Corporate Risk & Broking (CRB) Philippines, effective January 2nd, 2025. Dolina brings extensive experience in people, client, and market leadership to his new role, having spent nearly three decades working in the large and complex ... Read the full article
Prime Insurance introduces TRU Solution for reliable crisis coverage
4th October 2024
Prime Insurance Company, an excess and surplus lines carrier, has introduced the TRU Solution, offering clear and reliable coverage during times of crisis. The TRU Solution was developed in response to policyholders' need for a trustworthy insurance partner that provides comprehensive, straightforward coverage, particularly in the wake of recent storms and ... Read the full article
HDI Global names Philipp Glanz as new MD of HDI Risk Consulting
4th October 2024
HDI Global, the commercial and specialty lines insurer, has appointed Philipp Glanz as the new Managing Director (MD) of HDI Risk Consulting (HRC), effective as of October 1, 2024, where together with the current MD, Dr Jörg Ohlsen, he will focus going forward on strategic growth and improved services for ... Read the full article
Howden acquires UK and Ireland’s largest beauty membership providers ABT & AIT
4th October 2024
Howden has acquired Associated Beauty Therapists Ltd (ABT) and Associated Irish Therapists Ltd (AIT), two beauty membership providers that offer insurance broking services to members operating in the heath, wellbeing and beauty sectors in the UK and Ireland. ABT and AIT specialise in arranging the full range of covers, including medical ... Read the full article
Re/insurance is about confidence giving and public-private partnerships: Lloyd’s CEO
3rd October 2024
The insurance and reinsurance industry is about confidence giving, providing financial protection, and establishing public and private partnerships, according to John Neal, Chief Executive Officer (CEO) of the specialist Lloyd's insurance and reinsurance marketplace. Neal's comments stem from the recent SCOR Live Sessions – The (re)insurer of tomorrow, webinar, which also ... Read the full article
Aon appoints Schultz Vice Chair of Reinsurance Solutions, Pennay named CEO of Aon Securities
3rd October 2024
Global insurance and reinsurance broking group Aon has appointed Paul Schultz as Vice Chair of its Reinsurance Solutions arm, with Richard Pennay taking over as Chief Executive Officer (CEO) of Aon Securities, the firm's capital markets and insurance-linked securities (ILS) specialist division. Over the past two decades, Schultz led the Aon ... Read the full article
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