Reinsurance News
William Bruce joins Aon to lead climate risk consulting
8th September 2022
Aon has announced the appointment of William Bruce as Global Managing Director of Climate Risk Consulting. Bruce has over twenty-two years of consulting experience and was most recently Global Head of Enterprise Risk Consulting at Willis Towers Watson, where he led a global team that designed and delivered Transition Climate Risk ... Read the full article
GC confident industry ‘will come together’ despite property cat retreat: Lara Mowery
8th September 2022
Demand for property reinsurance protection is expected to increase in 2023 at multiples of recent years, but despite numerous reinsurers announcing some form of retreat from the property catastrophe space, Guy Carpenter is confident the market will find a way to provide solutions. Speaking yesterday during a media briefing held by ... Read the full article
The Hartford announces Doug Elliot to retire as company President
8th September 2022
The Hartford has announced that Doug Elliot will retire as president after more than 11 years with the company. Elliot spoke about his time at The Hartford, stating, “I am honoured to have had the opportunity to work for this iconic and trusted brand and proud to be a part of ... Read the full article
Säkra to be acquired by private equity firm Cinven
8th September 2022
Cinven, an international private equity firm, has announced it has reached an agreement to acquire Säkra, an insurance broker headquartered in Stockholm. The details of the transaction have not been disclosed, and it is subject to customary regulatory and antitrust approvals. Säkra is one of Sweden’s largest insurance intermediaries, providing life and ... Read the full article
Ageas to underwrite reinsurance in open market
8th September 2022
Brussels-headquartered multinational insurer Ageas has announced that it plans to open its reinsurance activity to third parties, outside its group perimeter, trading under the brand Ageas Re. By expanding its reinsurance activities to the open market and writing third-party business, Ageas hopes to further increase its benefits from diversification. In recent years, ... Read the full article
Jed Rhoads to retire as President & CUO of Markel’s reinsurance division
8th September 2022
Markel Corporation has announced that Jed Rhoads, President, and Chief Underwriting Officer of its Global Reinsurance Division, is retiring at the end of 2022. Rhoads has worked in the industry for more than four decades, having held executive positions with several leading organisations. He joined Markel in 2013 as part of ... Read the full article
Germany sees €3bn of nat cat losses in H1: GDV
8th September 2022
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022. GDV General Manager, Jörg Asmussen said, “So far, 2022 has been an above-average claims year. The winter storm series "Ylenia", "Zeynep" and "Antonia" in February alone caused almost 50% ... Read the full article
Lloyd’s falls to £1.8bn loss on investments, reserves £1.1bn for war in Ukraine
8th September 2022
The specialist Lloyd's insurance and reinsurance marketplace has today reported an overall loss of £1.8 billion for the first half of 2022, but despite reserving £1.1 billion for claims related to the war in Ukraine, the underwriting performance improved. The net loss reported today compares with profit of £1.4 billion a ... Read the full article
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