Reinsurance News
Howden warns of ‘tipping point’ for reinsurance market ahead of 1/1
8th September 2022
Climate, conflict, and capital are uniting to create a "tipping point" for the global reinsurance market ahead of the key, January 1st, 2023, reinsurance renewals, according to re/insurance broker Howden. As the market prepares to meet once again in Monte Carlo after a COVID-19 induced hiatus, Howden has released its latest ... Read the full article
Tokio Marine HCC appoints Megann Kellom as COO
8th September 2022
Tokio Marine HCC - Public Risk Group, a provider of insurance solutions for public entities, has named Megann Kellom as Chief Operating Officer (COO). She will be reporting to Christopher Skarinka, the group’s President. Kellom has more than 20 years of experience in the insurance industry. Most recently she has served ... Read the full article
Insurtech Waterdrop adds Swiss Re Asia exec to board
8th September 2022
Waterdrop, the Swiss Re-backed technology platform for insurance and healthcare services, has announced the appointment of Wenjie Guan to its board of directors. Guan currently serves as Head of Principal Investments and Acquisitions North Asia at Swiss Re, and will take up her board position from September 7th. Prior to joining Swiss ... Read the full article
MS Amlin welcomes six new hires to its Singapore team
8th September 2022
Lloyd's of London insurer and reinsurer, MS Amlin Underwriting Limited, has made six new additions to its Singapore team, MS Amlin Asia Pacific Pte. Ltd (MS AAP). According to the firm, the new appointments will boost MS AAP’s underwriting and claims expertise, with four hires to the Reinsurance division and an ... Read the full article
Japanese fire premiums to rise amid increasing climate risk: Moody’s
8th September 2022
Moody’s predicts that Japanese P&C insurers will increase fire insurance premiums, shorten policy durations, and use location-specific pricing to account for the growing frequency and intensity of climate-related natural catastrophes. This will be a credit positive for insurers, says Moody’s, as it will give them greater flexibility to lower premiums for ... Read the full article
US still near peak inflation: Aon
7th September 2022
According to re/insurance broker Aon, the US appears to be nearing, or past peak inflation, with broad inflation still close to a 40-year high of 8.5%, though down from last month’s 9.1% reading. Falling energy prices primarily drove the decrease, says Aon, with building materials and used vehicle prices also seeing lower ... Read the full article
Nick Gillet appointed as CEO of BMS International
7th September 2022
Independent specialty re/insurance broker, BMS, has announced the appointment of Nick Gillett as CEO of BMS International. Gillet is a highly experienced broking professional, having worked as managing director of Aon Benfield Singapore before spending more than 20 years at Aon and its subsidiaries, holding several senior roles including chief broking ... Read the full article
Gallagher Re expands cyber reinsurance team in North America
7th September 2022
Global reinsurance broker, Gallagher Re, has appointed Jasper Goring as head of its cyber reinsurance hub in New York amid the creation of a dedicated cyber analytics function and the growth of its specialist team in North America. Goring will lead the broker’s cyber reinsurance specialism to support NA-based clients and ... Read the full article
Reinsurance environment is “truly changing”: GC’s David Priebe
7th September 2022
David Priebe, Chairman of reinsurance broker Guy Carpenter, has asserted that the reinsurance industry is “truly changing” in response to the multitude of challenges it has faced this year. Currently speaking as part of an ongoing virtual media briefing on ‘Materializing Possibilities’, the GC Chairman stressed that the reinsurance industry must ... Read the full article
Lockton Re SAGE 2.0 launches with new analytics features
7th September 2022
Global insurance broker Lockton's dedicated reinsurance division, Lockton Re, has launched Lockton Re SAGE 2.0, its next level of analytics features and tools as part of Lockton Re’s proprietary software platform, the company highlighted. Lockton Re SAGE was designed to better help insurers understand risk impacts with a detailed and transparent ... Read the full article
US Surplus Lines premiums rise to record $82bn in 2021, despite challenges: AM Best
7th September 2022
A new report from AM Best highlights that total US surplus lines direct premiums written rose to a record $82 billion-plus in 2021, with the largest year-over-year premium growth since 2003. This increase comes as AM Best notes that from the first quarter of 2020 , through mid-2022, US P&C companies ... Read the full article
Markel Intl. appoints Dan Martin as managing director of DS&BD
7th September 2022
Markel International, a subsidiary of Markel Corporation, has named Dan Martin as managing director of distribution strategies and business development (DS&BD). Based in London, Martin will be reporting to Andrew McMellin, managing director of Wholesale at Markel International. He will be taking on the role from Pat Murphy-O’Connor who will transition ... Read the full article
SiriusPoint names RSA’s Scott Egan as CEO
7th September 2022
Bermuda-based specialty insurer and reinsurer, SiriusPoint, has named Scott Egan, formerly of RSA UK & International, as its new Chief Executive Officer (CEO). Egan, most recently the CEO of RSA UK & International, and a FTSE 100 board director for six years, takes on the CEO role at SiriusPoint on September ... Read the full article
AIG launches IPO capital raise for Corebridge
7th September 2022
American International Group (AIG) has launched the initial public offering (IPO) of its majority-owned subsidiary, Corebridge Financial. AIG rebranded the parent company of its Life & Retirement business from SAFG Retirement Services to Corebridge back in March, ahead of plans to make the company public. Since then, Moody’s has affirmed ... Read the full article
Aspen improves underwriting, grows reinsurance premiums
7th September 2022
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings, has reported improved underwriting income for the first six months of 2022, as top line growth helped to offset a moderate increase in catastrophe losses. Underwriting income for H1 amounted to $156.5 million, up from $59.4 million for the same period last year, resulting ... Read the full article