Reinsurance News
Lucy Clarke elected President of the Insurance Institute of London for 2024-25
3rd October 2024
The Insurance Institute of London, a professional organisation for insurance and risk management professionals, has announced Lucy Clarke as its President for 2024-25. Clarke joined WTW in 2024, bringing with her more than 25 years of industry expertise, with a strong emphasis on delivering top-tier client service, specialising in complex insurance ... Read the full article
Vaibhavi Mehta becomes CCR Re’s Director of Underwriting, Life
2nd October 2024
Vaibhavi Mehta has joined CCR Re as Director of Underwriting (Life), a Paris-based role, following her year tenure at Reinsurance Group of America (RGA). Mehta brings to her new role 17 years’ experience within the field of reinsurance and consultancy, during which time she held management positions within large international companies. Her ... Read the full article
Barbara Miller appointed Head of Broker Engagement at Broker Insights
2nd October 2024
Broker Insights, a data and distribution platform linking UK insurance brokers with insurance companies, has named Barbara Miller as the Head of Broker Engagement, a newly established role. Miller brings two decades of experience in financial services and IT, having also led her own sales and marketing business for insurance brokers. Most ... Read the full article
LM Re & Safehub sensor-triggered parametric coverage to protect UC campuses from earthquake damages
2nd October 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Mutual, and Safehub, a technology provider in seismic sensor and risk management solutions, have entered into a partnership with the University of California (UC) to protect their campuses from the risk of earthquake damage. The UC coverage is reportedly the first sensor-triggered ... Read the full article
Francesca Harland to lead Mosaic’s Global Professional Liability
2nd October 2024
Specialty insurer Mosaic Insurance has appointed Francesca Harland as its Global Head of Professional Liability, replacing Anna Jay, who was named the company’s new Active Underwriter, Syndicate 1609, in July. According to the announcement, these appointments were part of a restructuring of the underwriting and operational teams to drive Mosaic’s vital ... Read the full article
Lockton launches dedicated Offshore Projects Practice
2nd October 2024
Independent insurance broker Lockton has launched a new dedicated Offshore Projects Practice to navigate complex Energy, Marine and Power risks, to be headed by Jack Swift, David Vajnai and Alex Morgan. The offshore industry faces challenges in securing capital and insurance due to the costly claims profile of offshore wind and ... Read the full article
Beazley forecasts cyber insurance market to grow to $40bn by 2030
2nd October 2024
Specialty insurer Beazley predicts that the cyber insurance market will grow from $15 billion in 2024 to $40 billion by 2030, driven by increasing demand due to rising cyber threats and costs, as the firm continues to manage its exposure amid premium growth. In its latest Cyber Risk Update, Beazley highlights ... Read the full article
US insurers face declining income from private equity despite growth in holdings: AM Best
2nd October 2024
US insurers saw a second consecutive year of declining income from their private equity investments, which fell to $7.7 billion in 2023, down from $10.2 billion in 2022, according to AM Best, the credit rating agency. A recent Best’s Special Report highlights that US insurers’ private equity holdings grew by 10.8%, ... Read the full article
Industry veteran Sylvie Hirn to head Ageas Re’s Credit & Bond business
2nd October 2024
Ageas Re, the reinsurance brand of international insurance firm Ageas, has appointed Sylvie Hirn to head its Credit & Bond business. In a statement, Joachim Racz, Sylvie brings a wealth of experience both on the direct credit insurance and on the reinsurance side to Ageas Re. ... Read the full article
PIC’s market poll suggests bulk annuity market could hit £60bn in 2025
2nd October 2024
Pension Insurance Corporation plc (PIC), a specialist insurer for defined benefit pension schemes, has disclosed that in a recent poll of 140 trustees, consultants, and lawyers working in the bulk annuity market, 47% expected the market size next year to be between £50 and £60 billion. In contrast, 45% of respondents ... Read the full article
Markel strengthens International Casualty Portfolio with key leadership appointments
2nd October 2024
Markel, the insurance division of Markel Group Inc., has made three significant appointments as part of its strategy to expand its International Casualty portfolio and enhance its Wholesale Claims service for broker partners. Lauren Percival has been named Executive Underwriter – General Liability. In her new position, she will collaborate with ... Read the full article
FCCI expands offerings with new specialty company for E&S Lines
2nd October 2024
FCCI Insurance Group has introduced FCCI Specialty Insurance Company, now offering Excess and Surplus (E&S) lines coverage. This marks an important expansion of FCCI’s services, providing innovative coverage solutions for businesses across various industries, particularly those with hard-to-place commercial risks. Initially, agents in Florida, Georgia, and Texas can submit General Liability (GL) ... Read the full article
Gillard Jr. to succeed Mosher as President of A.M. Best Rating Services
2nd October 2024
Global ratings agency AM Best announced that James A. Gillard Jr. will succeed Matthew C. Mosher as President of A.M. Best Rating Services, Inc. (AMBRS), effective September 30th, 2024. In his new role, he will assume Mosher’s responsibilities of overseeing the life/health, property/casualty, and international rating divisions. Mosher will retire as President ... Read the full article
CMC partners with Parametrix to assess cloud outage impacts on UK businesses
2nd October 2024
The Cyber Monitoring Centre (CMC) has partnered with Parametrix Analytics, a newly established provider of cloud risk analytics services, to examine cloud exposure and the effects of cloud outages on UK organisations. An initial project is underway to assess how dependent UK organisations are on cloud infrastructure. This project examines ... Read the full article
WTW enters a co-brokerage agreement with Ori-gen’s The J. Morey Company, Inc.
2nd October 2024
Global insurance broker WTW has entered into a co-brokerage arrangement with The J. Morey Company, Inc., an Ori-gen family company, to provide tailored insurance solutions by joining resources and industry expertise. This agreement aims to align resources to deliver brokerage support and tailored insurance solutions to North American exposures of companies ... Read the full article
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