Reinsurance News
Grainne Richmond appointed Aon Bermuda head of captives
14th September 2022
Re/insurance broker Aon, has appointed Grainne Richmond as executive vice president and head of captives for its Bermuda office. With more than 20 years’ experience of insurance management in Bermuda, Richmond joins Aon from Strategies Risk Solutions (SRS), where she served as vice president for almost two years. Prior to this, ... Read the full article
Initial legislative report on TPLF accepted by European Parliament
14th September 2022
The European Parliament plenary session has adopted MEP Axel Voss’ own initiative legislative report on responsible third-party litigation funding (TPLF). The one-page report summary, which is available here, calls on the European Commission to propose solutions for the effective supervision of TPLF in commercial and civil disputes. A statement from the ... Read the full article
Florida and four Western US states at most risk for wildfire damage in 2022
14th September 2022
Florida, Texas, Colorado, California and New Mexico are the top five US states at most risk of wildfire damages in 2022, according to a report by CoreLogic, a property information, analytics and data-enabled solutions provider. The Wildfire Report for 2022 tracks wildfire risks in 15 Western US states and Florida. It ... Read the full article
Reinsurance market outlook improving ahead of Jan 2023 renewals: Peel Hunt
14th September 2022
As the industry meets in Monte Carlo for the first time since the end of the pandemic, analysts at Peel Hunt suggest the reinsurance market outlook is improving ahead of the key January 1st, 2023, reinsurance renewals. The first half of the year results from specialty re/insurers and the rate commentary ... Read the full article
Specialty opportunities in uncertain times: Vantage Risk’s McKeown
14th September 2022
While the world faces a growing array of macro and geopolitical challenges, the pressures these create can also provide opportunities, while some other chances for growth are being left on the table by incumbents, Chris McKeown of Vantage Risk believes. Chris McKeown, the Chief Executive, Reinsurance, ILS, and Innovation at still ... Read the full article
Athora confirms appointment of Mike Wells as group CEO
14th September 2022
Athora has confirmed the appointment of Mike Wells as its new group chief executive officer. The confirmation of the appointment comes after the receipt of regulatory approval. Wells is a former CEO of Prudential, where he spent over 26 years. Athora also said that regulatory approval has led to Ward Bobitz ... Read the full article
Supercede highlights possible $300m per annum re/insurance industry savings
14th September 2022
Reinsurance tech firm Supercede shows that $300 million per annum re/insurance industry savings are possible, following research into the efficacy of its technology during live pilots with leading insurers. Each year, cedents are faced with the challenging task of ensuring that their reinsurance submissions get out to market accurately and on ... Read the full article
Swiss Re warns ‘true’ GDP growth may be lower than expected
13th September 2022
Analysts at Swiss Re have warned that ‘true’ GDP growth could be lower than most forecasts are predicting due to the carryover effects of last year’s growth dynamics on this year’s figures. In 2023, the reinsurer adds that this effect should reverse for GDP growth – but should intensify for inflation. Swiss ... Read the full article
Everspan & Centrex Underwriters partner up on hospitality-focused liability programs
13th September 2022
Everspan Group, a specialty property and casualty insurance platform, has launched a program partnership with Centrex Underwriters – a managing general agent (MGA) that specialises in liquor liability and general liability insurance for the hospital industry. Operating in 38 states and the District of Columbia, Centrex serves a wide range of ... Read the full article
Insurance Advisory Partners makes appointments in London and New York
13th September 2022
Specialist insurance M&A, strategic advisory, and capital-raising partnership, Insurance Advisory Partners (IAP), has appointed Robin Mackie and Samantha Hagar to new roles in London and New York. Mackie will take on the role of senior advisor in the London office. Meanwhile, Hagar joins from PNC Capital Markets to help support the ... Read the full article
70% vote against removal of William Spiegel at R&Q special meeting
13th September 2022
The results of R&Q Insurance Holdings Ltd.'s Special General Meeting have been announced by the firm, with approximately 70% of total votes cast being against the removal of William Spiegel as a Director of the non-life specialty insurer. R&Q revealed plans to hold a special meeting on August 24th, calling ... Read the full article
BP Marsh reports majority of portfolio companies performing well in H1 2022
13th September 2022
Venture capital provider BP Marsh is reporting that the majority of its portfolio companies have performed well in the first six months of the year. The firm said its full-year results to 31 January 2022 showed an increase in Net Asset Value to £166.6m (31 January 2021: £149.9m; 31 July 2021: ... Read the full article
HSCM makes two senior promotions
13th September 2022
Asset manager Hudson Structured Capital Management (HSCM) has promoted Rachel Bardon to deputy CIO and Gokul Sudarsana to chief actuary. The firm said in a statement that the promotions were effective from the beginning of September. Sudarsana’s appointment is pending immigration approval. Michael Millette, managing partner and co-founder of the firm, said: ... Read the full article
Strong demand for reinsurance amid high inflation: Goldman Sachs
13th September 2022
With the 2022 annual briefings having started in Monte Carlo, analysts at Goldman Sachs have highlighted a strong demand for reinsurance amid higher inflation, while capital supply is flat to down. It expects strong rate increases will continue in the January 2023 renewals, with companies taking a more cautious view. Goldman ... Read the full article
Aon names Jeremy Goodman as UK president for Reinsurance Solutions
13th September 2022
Insurance and reinsurance broker Aon has named Jeremy Goodman as the UK president for its Reinsurance Solutions business. Goodman is to take on the role immediately, relocating from Singapore to London, but will maintain his role of head of global broking. As UK president, he replaces Nick Frankland, who will now focus ... Read the full article