Reinsurance News
MS Reinsurance CUO Goldie optimistic heading into 1.1, sees opportunities in ‘almost every area’
12th November 2024
As the autumn conference season concludes and the reinsurance industry shifts its focus to the January renewals, we spoke with MS Reinsurance’s Charlie Goldie, Chief Underwriting Officer, for his insights on the discussions at RVS in Monte Carlo and the Insurance Leadership Forum (ILF) hosted by the Council of Insurance ... Read the full article
Envelop Risk launches new underwriting division, appoints Dom Peters as CEO
12th November 2024
Data-driven reinsurance and analytics specialist Envelop Risk has launched Envelop Underwriting, appointing Dom Peters to lead the newly established division as CEO. According to the firm, Envelop Underwriting will encompass all existing underwriting activities, including Envelop Risk Bermuda and Envelop at Lloyd’s. Aforementioned Peters will reportedly oversee the management and governance ... Read the full article
Howden strengthens Hong Kong presence with Storfield acquisition
12th November 2024
Howden, a global insurance intermediary group, has acquired Storfield Insurance Consultants Ltd (Storfield), a specialist in general insurance for small-to-medium-sized enterprises (SMEs) and high-net-worth (HNW) clients. This acquisition strengthens Howden’s presence in Hong Kong, expands its reach across Asia, and underscores its commitment to investing in specialty services for clients in ... Read the full article
UK insurers’ growth to slow with steady premium income projected until 2026: EY
12th November 2024
In the coming years, UK insurance companies are projected to report steady yet slowing premium income growth; a trend that is expected to persist throughout 2024, 2025, and 2026 as consumer premium increases return to average levels, according to a recent EY report. After experiencing significant premium increase due to high ... Read the full article
Henchoz to step down from Talanx Board in 2025, Jungsthöfel to succeed as reinsurance lead
12th November 2024
Jean-Jacques Henchoz, Member of the Board of Management at Talanx AG with responsibility for the Reinsurance division, will not extend his expiring contract and will depart from the Board on 31 March 2025, with Clemens Jungsthöfel, Chief Financial Officer and designated CEO of Hannover Re, set to assume these responsibilities ... Read the full article
Lockton Re adds Edward Tyler to Retro & Property Specialty team
12th November 2024
Lockton Re, the reinsurance division of the global brokerage, has appointed Edward Tyler as a senior broker in its Retrocession and Property Specialty team. Tyler brings expertise in retrocession, London market property and global composite placements to the role. Most recently, he served as the Divisional Director of Non-Marine Retrocession with reinsurance ... Read the full article
IQUW partners with mea to boost underwriting efficiency with AI-driven platform
12th November 2024
Property and specialty insurer and reinsurer IQUW has formed a strategic partnership with mea, an AI-powered processing platform for re/insurers, to enhance underwriting efficiency across its operations. This collaboration aims to improve IQUW’s productivity and service quality, aligning with its commitment to delivering smooth broker experiences. Currently active within IQUW’s Directors and ... Read the full article
Matt Roy named Ascot US Chief Operating Officer
12th November 2024
Bermuda-based global specialty insurance company Ascot has announced the appointment of Matt Roy to the newly created role of U.S. Chief Operating Officer, effective November 18. In his new position, Roy will be tasked with aligning underwriting, operations, and technology across the U.S. and designing change initiatives to continue to enhance ... Read the full article
Enstar enters into additional $75m legacy reinsurance agreement with James River
12th November 2024
A wholly owned subsidiary of legacy player Enstar Group has entered into a $75 million adverse development cover (ADC) reinsurance agreement with certain subsidiaries of Bermuda-domiciled insurance holding company, James River Group Holdings. Under the terms of the agreement, Enstar will provide the $75 million of limit in excess of the ... Read the full article
SiriusPoint names Shapella CUO, Govrin to focus on role as President & CEO of Reinsurance
12th November 2024
Bermuda-domiciled insurer and reinsurer SiriusPoint has announced Anthony Shapella as its new Group Chief Underwriting Officer (CUO), with David Govrin set to focus solely on his role as Group President and Chief Executive Officer (CEO) of Global Reinsurance, effective January 1st, 2025. Shapella, who will become part of the Executive Leadership ... Read the full article
Indonesia’s Indian Ocean tsunami losses equivalent to $20bn today, says Swiss Re
12th November 2024
Indonesia’s economic losses from the 2004 Indian Ocean tsunami, which amounted to USD 4.5 billion at the time, would equate to approximately USD 20 billion today when adjusted for GDP growth and inflation, according to a recent Swiss Re Institute article. Authored by Chandan Banerjee, Natural Catastrophe Economist; Lucia Bevere, Senior ... Read the full article
Vertafore expands AI capabilities with Surefyre acquisition
12th November 2024
Insurtech Vertafore has acquired Surefyre, a submission and underwriting workbench platform built to empower managing general agents (MGAs) and wholesalers. By incorporating Surefyre's AI-powered, low-code/no-code solution into Vertafore's top-tier MGA ecosystem of solutions, this acquisition reinforces Vertafore's position as an industry leader, the firm highlighted. The addition of Surefyre's solution, Vertafore MGA ... Read the full article
Relation Insurance Services names Brandon YoungFountain as EVP and Head of M&A
12th November 2024
Insurance brokerage, Relation Insurance Services, has appointed Brandon YoungFountain as Executive Vice President (EVP) and Head of Mergers and Acquisitions (M&A), where he will oversee Relation’s M&A initiatives nationally across the organization. YoungFountain has over two decades of experience in financial services executing numerous high-profile transactions and strategic initiatives. Most recently, he ... Read the full article
Moody’s changes outlook to stable for Italian life insurance, P&C remains stable
12th November 2024
Ratings agency Moody's has changed its outlook for the Italian life insurance sector to stable from negative, and maintained its stable outlook for Italian property and casualty (P&C) insurers. Analysts highlighted how Italian life insurers were hit by record net outflows in 2023, which was a reflection of high surrenders of ... Read the full article
Dan Browne and Chloe Pitchford join TMHCC’s Professional Risk team
12th November 2024
Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced the appointments of Dan Browne as a Professional Indemnity (PI) Underwriter and Chloe Pitchford as a PI Development Underwriter. Both will join TMHCC’s expanding Professional Risk team, with Browne based in London and Pitchford in Manchester. These appointments strengthen TMHCC’s ability to ... Read the full article
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