Reinsurance News
Strong annuity growth continues as reinsurers shift business offshore to Bermuda: AM Best
27th September 2024
US life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023 driven by strong annuity growth on higher interest rates with an increasingly larger portion headed offshore, an AM Best report has disclosed. Recently, several private equity-owned insurers have started creating offshore reinsurance entities, resulting in ... Read the full article
Ken Bjurstrom joins Euclid Mortgage as Chief Risk Officer
27th September 2024
Euclid Mortgage, an independent managing general underwriter specialising in mortgage (re)insurance, has appointed Ken Bjurstrom as Chief Risk Officer, bringing over 35 years of expertise in mortgage risk analytics and advisory services to his new role. Previously, Bjurstrom was the Principal and founder of Milliman's Mortgage Credit Risk Practice, established more than ... Read the full article
FloodFlash’s parametric coverage ensures rapid payouts to UK clients after floods
27th September 2024
FloodFlash’s UK clients with parametric coverage have been promptly notified that their claims are in progress following recent rainfall-related floods, ensuring a seamless claims process. Clients benefit from FloodFlash’s accurate flood readings during events and the rapid processing of claims once coverage is triggered. In a recent LinkedIn post, Ian Bartholomew, Co-founder ... Read the full article
Guidewire welcomes Mark Anquillare to its Board of Directors
27th September 2024
Guidewire, a provider of software solutions for the property and casualty (P&C) insurance industry, announced that Mark Anquillare has been appointed to its Board of Directors, effective September 23, 2024. Michael Zeller, Chairman of the Board, commented: “We are thrilled to welcome Mark Anquillare to the Guidewire Board of Directors." He continued: ... Read the full article
Aon estimates €1.65bn market loss from September Central Europe flooding
27th September 2024
Broking group Aon has revealed a market loss estimate for the Central Europe Flooding in September 2024, caused by Storm Boris, of €1.65 billion. According to the firm's Event Response report, the deadly flooding resulted from an extreme amount of rain that fell over a large area of the region from ... Read the full article
AXA XL names Mark Flanagan as the Head of Property & Casualty, Bermuda
27th September 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Mark Flanagan as the Head of Property & Casualty, Bermuda, reporting to Noel Pearman, Chief Underwriting Officer, Bermuda within AXA XL’s Insurance business. Flanagan has over two decades of underwriting experience, including the past ... Read the full article
Antimicrobial resistance, a challenge that needs multi-sector cooperation: Swiss Re
27th September 2024
Antimicrobial resistance (AMR), referred to as "the silent pandemic” by World Health Organisation (WHO), is an evolving risk with the potential to severely disrupt healthcare systems worldwide; a challenge that needs increased awareness and cooperation across sectors, Swiss Re’s Paul Murray has highlighted. Unlike COVID-19, “a pandemic that shouted in our ... Read the full article
Generali GC&C appoints Winnie Chu & Joshua Lynch to leadership roles in Asia
27th September 2024
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has appointed Winnie Chu as Head of Financial Lines Underwriting, Asia, and Joshua Lynch as Head of Business Development, Asia, both effective September 30, 2024. Axel Roesner, Head of GC&C Asia, expressed enthusiasm for the new appointments, stating, ... Read the full article
Helios sees 45% GWP growth in H1’24 amid ‘excellent’ Lloyd’s market conditions
27th September 2024
Helios Underwriting has reported that gross written premiums (GWP) increased to £230 million in the first half of 2024 on the back of 65% growth of the capacity portfolio to £512 million for the 2024 underwriting year. The investment company, who provides investors with exposure to Lloyd's via an actively managed ... Read the full article
RISCS CWC adds Darlington Munhuwani as a Partner alongside Innes
27th September 2024
RISCS CWC, an independent consultancy providing innovative captive & ART strategic risk advice to clients, has appointed Darlington Munhuwani as a Partner to work alongside existing Cape Town-based Partner, David Rose Innes to support the development of its captive consulting services. Munhuwani, who will be based in Johannesburg, has over 25 ... Read the full article
The Fidelis Partnership’s Pine Walk launches new MGA, Seraphina
27th September 2024
The Fidelis Partnership's wholly-owned subsidiary Pine Walk Capital Limited has launched its latest MGA, Seraphina. Seraphina will reportedly write a broad portfolio of International Property business, "complementing and diversifying" The Fidelis Partnership’s existing Property D&F book. The new MGA will additionally support the firm's BRICS+ strategy to broaden its geographical footprint. Seraphina's launch ... Read the full article
Active Re launches new office in Barbados
27th September 2024
Global reinsurer Active Re strengthens its presence in the Caribbean with the opening of new offices on Barbados, a significant step in the company’s branding strategy. By establishing a local team dedicated to addressing the unique requirements of the regional market, Active Re reinforces its brand identity and opens up a ... Read the full article
Milliman’s Chair of the Board Ken Mungan to retire after 10-year term
27th September 2024
Milliman, a global consulting and actuarial firm, has announced that its Chair of the Board, Ken Mungan, will retire in early 2025 after completing a full 10-year, term-limited tenure. Mungan’s leadership has been marked by significant growth, expansion into new markets, and a strong commitment to the company’s mission. Dermot Corry, CEO ... Read the full article
Hurricane Helene makes Florida landfall as Cat 4 storm with 140 mph winds
27th September 2024
Hurricane Helene made landfall in the Big Bend region of Florida shortly after 11pm local time on Thursday night as a powerful Category 4 storm, with maximum sustained winds of 140 mph Helene is the strongest storm to make landfall along the Big Bend coast since 1851. Helene, the fourth US ... Read the full article
Acrisure names Robin Benoit as Chief People Officer following interim tenure
27th September 2024
Acrisure has announced that Robin Benoit will officially assume the role of Chief People Officer on September 29, 2024, after serving in an interim capacity since March. According to the firm, Benoit will oversee the strategic direction of its human resources functions and people strategy, including talent acquisition, employee development, total ... Read the full article
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