Reinsurance News
Re/insurance industry has a “generational opportunity” to make a difference: Aon’s Case
12th September 2022
Greg Case, the Chief Executive Officer (CEO) of brokerage Aon, believes that the insurance and reinsurance industry is faced with a "generational opportunity" to make a difference. Case addressed an audience this morning at the PwC breakfast briefing in Monte Carlo as part of the 2022 RVS event. "We’re about to continue ... Read the full article
Swiss Re’s Group CIO Guido Fürer to retire after 25 years with the company
12th September 2022
Swiss Re’s Group Chief Investment Officer and Country President for Switzerland, Guido Fürer, is set to retire after spending 25 years with the company. Fürer commented on his retirement, stating, “After a 35-year-long, fulfilling career in the financial sector, I want to enjoy more time with my family and dedicate myself ... Read the full article
LGT Capital Partners expands Lumen Re and welcomes external investor
12th September 2022
LGT Capital Partners has announced that US-based investor, The Kresge Foundation, has become an external equity investor in its reinsurer Lumen Re, in addition to the appointment of two senior managers in Bermuda. Structured as a co-investment alongside the Princely Family of Liechtenstein, this direct equity investment in Lumen Re is ... Read the full article
Hannover Re predicts price increases and improved conditions in 2023
12th September 2022
Hannover Re has said that it expects next year to be one of price increases and improved conditions in property and casualty reinsurance. The firm said in a statement that the first half of 2022 proved challenging for primary insurers and reinsurers alike. Soaring inflation, major losses and an accumulation of ... Read the full article
Global non-life run-off reserves rise 11% to $960bn: PwC
12th September 2022
The global non-life run-off market continues to grow, says PwC, with estimated liabilities rising 11% to $960bn since the beginning of 2021, according to its latest Global Insurance Run-off Survey. PwC estimates that since the last survey, over 50% of the growth has emanated from North America, with an increasing number ... Read the full article
Wider audience access to cyber risk analysis through CyberCube and AkinovA partnership
12th September 2022
CyberCube, a cyber risks analytics provider, has announced its partnership with AkinovA, an electronic marketplace for the transfer and trading of insurance risk, to enable AkinovA’s clients to benefit from CyberCube’s modelling and analytics. Through this partnership, CyberCube’s products will be made available to AkinovA’s platform, making all its models accessible ... Read the full article
WTW rehires Christian Ryan to lead NA Industry Specialties
12th September 2022
Insurance and reinsurance broker WTW has added Christian Ryan to its North America Corporate Risk & Broking division as Industry Specialties Leader. WTW states that Ryan, whose career has focused solely on industry specialisation and expertise, brings a depth of understanding around the genuine value this approach offers clients. He previously worked ... Read the full article
Swiss Re to grow nat cat portfolio and hedge volatile conditions
12th September 2022
Reinsurance giant Swiss Re has reported that it intends to “further grow and diversify” its natural catastrophe portfolio as it capitalizes on opportunities to hedge the current volatile environment with insurance solutions. Ahead of the company’s presentation at Rendez-Vous de Septembre 2022 in Monte Carlo today, Swiss Re shared its view ... Read the full article
MS Reinsurance launched, as MS Amlin AG rebrands
12th September 2022
MS Reinsurance is a new brand in the market after MS Amlin AG, the global reinsurance arm of MS&AD that is domiciled in Switzerland announced a rebranding today. The change will occur this month, with the company set to be known as MS Reinsurance, An MS Amlin AG Company. No change to ... Read the full article
Brace appoints Tom Sambrook as Head of Underwriting
12th September 2022
Brace Underwriting has announced the appointment of Tom Sambrook as head of underwriting. According to the company, Sambrook will play an integral role in overseeing the underwriting strategy, market engagement and capacity partnerships. He will be based in London and will report to Adam Holberry, co-founder, and CEO. Sambrook joins Brace from ... Read the full article
European flood added to PERILS database
12th September 2022
Zurich-based catastrophe loss aggregator PERILS has expanded its market coverage to include exposure and event loss data for European floods. The new service, which comes in the wake of devastating floods across Europe in 2021, will enhance the firm’s existing windstorm coverage across the continent. The expanded coverage means that data for ... Read the full article
SCOR is a risk taker, not a risk trader: Laurent Rousseau
11th September 2022
In the face of challenging macroeconomic headwinds, SCOR is sticking to its governing principles and keeping hold of the risks that it chooses to underwrite, says Chief Executive Officer (CEO) Laurent Rousseau. Speaking during a press briefing at the RVS 2022 event in Monte Carlo today, Rousseau laid out the factors ... Read the full article
Hiscox sees opportunities at hard 1/1: Kathleen Reardon
11th September 2022
Kathleen Reardon, Chief Executive Officer (CEO) at Hiscox Re & ILS, has said that she sees “interesting opportunities” for her company at the upcoming January 1st renewals, as signs point to continued reinsurance price increases. Speaking in a recent interview with Reinsurance News, Reardon explained that “the direction of travel currently ... Read the full article
Munich Re has no ambition to shrink capacity: Jeworrek
11th September 2022
Munich Re has no ambition to shrink its capacity on offer at the upcoming January 2022 renewals, according to Torsten Jeworrek, CEO of Reinsurance and a member of the Board of Management at the German reinsurance giant. Speaking during a press briefing at this year’s RVS event in Monte Carlo, Jeworrek ... Read the full article
Industry has proven its role as shock-absorber: Swiss Re’s Thierry Léger
11th September 2022
Reflecting on several years of large global catastrophe losses and unprecedented systemic shocks, Swiss Re Group Chief Underwriter (CUO) Thierry Léger says that the reinsurance industry has “proven its role as shock-absorber.” Speaking to Reinsurance News ahead of the 2022 Monte Carlo RVS event, Léger addressed the difficult conditions that reinsurers ... Read the full article