Reinsurance News
Ardonagh Europe completes acquisition of Léons Group, in the Netherlands
5th October 2022
Ardonagh Europe, a subsidiary of The Ardonagh Group, has completed its acquisition of Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. The acquisition was originally announced in July earlier this year. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons Group specialises in full-service ... Read the full article
ESG factors to play a larger role in the future of underwriting
5th October 2022
Leading insurance broker Marsh has released data from a survey of 30 insurers representing a significant cross-section of the UK insurance market, exploring how ESG factors are being used to assess clients’ risk profiles and the extent to which this trend might accelerate. The survey found that all respondents confirmed that ... Read the full article
USQRisk appoints Chief Marketing & Business Development Officer for Desq
5th October 2022
International MGA USQRisk has named Lael Chappell the chief marketing and business development officer of Desq. Desq is a specialty accelerator platform established to empower entrepreneurial underwriters to launch and manage their own MGAs. Chappell has a wide range of experience in underwriting, leveraging strategic partnerships and promoting change within the industry, ... Read the full article
Jencap acquires Tarheel Insurance Services
5th October 2022
Jencap Group has announced that it has agreed to acquire the assets of Tarheel Insurance Services, Inc., a full-service specialty workers’ compensation wholesale brokerage based in Statesville, NC. Tarheel is set to operate under the auspices of the Jencap Insurance Services Inc. (JCIS) division. Bruce Peddle, President of JCIS, commented, “Tarheel provides ... Read the full article
Inflation could “absolutely dominate” reinsurance outlook: PwC’s Bichard
4th October 2022
Jim Bichard, Global Insurance Leader for PwC, has warned that inflationary challenges could “absolutely dominate” the insurance and reinsurance landscape in the near future. Speaking to Reinsurance News at the recent RVS 2022 event in Monte Carlo, Bichard identified the main trends under discussion as the scarcity of available reinsurance capacity ... Read the full article
Mosaic adds excess tech E&C coverage to cyber product offering
4th October 2022
Mosaic Insurance’s cyber division has launched excess capacity and coverage for a new product aimed at protecting technology sector companies from rapidly emerging liability risks. The insurer now offers excess technology errors and omissions (E&O) as companion cover to cyber for businesses ranging from AI, virtual reality, edtech, and IT consulting ... Read the full article
Severe weather events pose uncertainty for US homeowners segment: AM Best
4th October 2022
According to a new report from AM Best, the US homeowners insurance segment could come under pressure with 2022 results expected to be impacted by Hurricane Ian. The hurricane, which made landfall Wednesday the 28th as a major Category 4 storm with maximum sustained winds of around 155 mph near ... Read the full article
Berkley Re UK appoints Daniel Keshav as Head of Casualty Treaty
4th October 2022
Berkley Re UK, part of W.R. Berkley Corporation, has promoted Daniel Keshav from Deputy Head of Casualty Treaty, a role he held for over three years, to Head of Casualty Treaty. Keshav has over 25 years of experience in the industry. Prior to joining Berkley Re UK in 2019 he spent ... Read the full article
Berkshire (BHSI) names North American claims leaders
4th October 2022
Berkshire Hathaway Speciality Insurance (BHSI) has announced that it has appointed several claims executives to new roles within its North American region. Among the new appointments is Rob Romeo, who has been named Head of Claims, North America. Romeo has over two decades of industry experience and was previously Senior Vice ... Read the full article
Hurricane Ian will change the Florida re/insurance market landscape: RMS
4th October 2022
According to the Chief Risk Modelling Officer at RMS, Mohsen Rahnama, Hurricane Ian has the potential to be one of the largest, if not the largest, insured catastrophe losses in US history, with implications for both the Florida, reinsurance, retrocession, and ILS markets. Hurricane Ian made landfall on Wednesday the 28th ... Read the full article
Aon adds industry expert Katherine Kuehn as MD, Cyber Solutions
4th October 2022
Insurance and reinsurance broker Aon has hired Katherine Kuehn from vArmour as Managing Director (MD) within its Cyber Solutions division, where she will build upon her network to develop and provide innovative solutions in the cyber risk space. In her new role, Kuehn will leverage her network of key cyber, government ... Read the full article
Amwins gets exceptional delegated authority scores from AM Best
4th October 2022
AM Best has assigned its highest Performance Assessment of PA-1 (Exceptional) to a group of seven delegated underwriting authority enterprises (DUAEs) of the Amwins Group, with a stable outlook. Launched this year, AM Best's performance assessment for DUAEs looks at underwriting capabilities, governance and internal controls, financial condition, organizational talent and ... Read the full article
CNA Hardy makes several appointments across Continental Europe
4th October 2022
CNA Hardy, a provider of specialist insurance solutions for commercial businesses, has announced a series of appointments as part of the company’s growth plans in Europe. Oliver Tobies joins the Cologne office as Life Science & Technology Underwriting Manager. His experience includes roles at Hiscox and Chubb. In his new role Tobies ... Read the full article
Public finance issuer ratings to remain stable following Ian: Fitch
4th October 2022
According to a new report from Fitch Ratings, the ratings of US public finance issuers affected by Hurricane Ian will largely remain stable, but the credit quality of some issuers with lesser resources and financial flexibility could weaken. While the full extent of property damage in Florida, Georgia and the Carolinas ... Read the full article
Curran and Shaffer take senior distribution roles at Ryan Specialty
4th October 2022
Ryan Specialty has announced the promotions of Tom Curran and James Shaffer to senior distribution roles within its Ryan Specialty Underwriting Managers unit. Curran has been appointed as Chief Wholesale Distribution Officer and Shaffer as Chief Retail Distribution Officer. The former specializes in the wholesale insurance marketplace and has over 25 years’ ... Read the full article