Reinsurance News
Swiss Re is trying to ensure that inflation risk is shared between its customers and itself: Frank Reichelt
24th October 2022
With inflation currently remaining above historical peak, Swiss Re’s Head of Northern, Central & Eastern Europe, Frank Reichelt, discussed with Reinsurance News about what coping mechanisms the company have had to adapt to keep ahead. “We are following the topic very closely with the support of our own research department. We ... Read the full article
Platinum Specialty reports Gross Written Premiums of $200m
24th October 2022
Platinum Specialty Underwriters has announced gross written premiums of $200m, with a 50% growth rate driven by the success of five new product offerings to accompany the existing successful transportation program portfolio. Jeff Heath, President of Platinum Specialty Underwriters, commented, "As specialist underwriting experts supporting our select wholesale customers, we are ... Read the full article
Reinsurance demand continues to rise ahead of Jan renewals, say industry leaders
24th October 2022
Executives and leaders from across the insurance and reinsurance sectors are seeing strong demand for protection and have called on the industry to work to leverage its strengths in such a demanding marketplace. At the 2022 meeting of the reinsurance industry in Baden-Baden, senior industry leaders discussed how the insurance and ... Read the full article
Nexus Underwriting appoints Bentele to lead new Specialty Casualty Division
24th October 2022
Independent specialty MGA, Nexus Underwriting, has appointed Christof Bentele as President of their new Specialty Casualty business. A global market leader, Bentele has previously run specialty casualty teams at Aon, JLT group and, most recently, Allianz Global Corporate & Specialty where he was a director within the Alternative Risk business. During his ... Read the full article
MS Amlin adds Paul Evans as senior marine underwriter
24th October 2022
MS Amlin has appointed Paul Evans as senior underwriter of marine insurance. Evans, the firm said in a statement, will begin his new role at the beginning of November and will report into Malcolm Barnes, head of marine insurance. He joins from Tokio Marine Kiln, where he most recently held the role ... Read the full article
Howden Re sets up new L&H reinsurance division, names leaders
24th October 2022
Howden RE, the reinsurance arm of international insurance intermediary, Howden Group, has announced the establishment of a new Disability, Life & Health Reinsurance division. Richard Vuurman, Theo Lutgendorff and Thomas Trompert have been appointed to set up and lead the new division, effective 1 October 2022. Based in the Netherlands and reporting ... Read the full article
WTW hires Robert Lasovski as Head of P&C for Australasia
24th October 2022
WTW has appointed Robert Lasovski as Head of property & casualty (P&C) for its Corporate Risk & Broking (CRB) business in Australasia. Based in Sydney, Lasovski joins WTW from Marsh McLennan in Australia where he was the National Corporate & Commercial Leader. Overall, Lasovski brings 29 years of extensive experience in P&C ... Read the full article
Global Indemnity names new CEO, appoints Director
24th October 2022
Property and casualty insurer Global Indemnity Group (GBLI) has named Joseph W. Brown as its new CEO after announcing that David S. Charlton, former CEO, and Reiner R. Mauer, former COO, are no longer officers or directors of GBLI, including its subsidiaries. Brown has close to five decades of insurance industry ... Read the full article
Activists from Extinction Rebellion protest at Baden-Baden
24th October 2022
Around twenty people from the groups Extinction Rebellion and Debt4Climate occupied this morning the Kongresshaus in Baden-Baden, where the reinsurance industry is currently holding its annual get-together. It is understood that the early morning saw a number of activists climbing onto the canopy with a five-metre-long banner saying, Stop (re)insuring Climate ... Read the full article
Kemper anticipates cat losses between $20-30m for Q3
24th October 2022
Kemper Corporation has reported it anticipates its Q3 2022 results will include pre-tax catastrophe losses ranging from $25m to $30m, primarily related to Hurricane Ian. The company notes that it does not expect to recover any of these losses under its reinsurance programs. Nor does it anticipate adverse prior-year development. Kemper ... Read the full article
E+S Rück predicts ‘significant’ improvements in P&C reinsurance risk-adjusted prices and conditions
24th October 2022
Hannover Re subsidiary E+S Rück has said it expects significant improvements in risk-adjusted prices and conditions in property and casualty reinsurance on the back of continued heavy claims expenditure and soaring inflation. Dr. Michael Pickel, chief executive officer of E+S Rück, said: "Both insurers and reinsurers alike find themselves facing a ... Read the full article
Invictus looks at insurance wrap for Sun Pacific solar plant
24th October 2022
Insurance and risk management consultancy Invictus Risk Solutions has been engaged by green energy company Sun Pacific to assess the opportunity for providing an insurance wrap for a $50 million funding of the company’s US-based solar manufacturing plant. If deemed feasible , the deal would be sourced through Lloyds of London, ... Read the full article
African Development Bank, UK & London Market insurers enter risk transfer partnership
24th October 2022
The African Development Bank, the government of the United Kingdom, and global insurers, AXA XL, Axis Specialty, and HDI Global Specialty, have closed on a new and innovative risk sharing transaction. The Room to Run Sovereign transaction was structured with the intention of scaling up the African Development Bank Group’s commitments ... Read the full article
Allianz Trade announces CEO leadership change
24th October 2022
Allianz Trade has announced that Aylin Somersan Coqui, currently Group Chief Risk Officer of Allianz SE, will become CEO and Chairperson of the Board of Management of Allianz Trade following the departure of Clarisse Kopff, who has decided to pursue a new leadership role outside of Allianz. Coqui joined the Allianz ... Read the full article
Reinsurance costs a factor in IAG premium hikes
24th October 2022
Australian insurer IAG has explained that higher reinsurance costs are a factor in its decision to increase premium rates for its customers across several lines of business. Speaking at the company’s annual general meeting, Chairman David Armstrong noted that the company performed well through the 2022 financial year despite facing a ... Read the full article