Reinsurance News
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
Three newco cyber start-ups in rating pipeline: AM Best’s Holzberger
11th September 2022
Stefan Holzberger, Chief Rating Officer at AM Best, has revealed that his company currently has three newco dedicated cyber insurers in the pipeline for initial rating. The rating agency executive disclosed the imminent entrance of three new cyber entities to the market during an AM Best Reinsurance Market Briefing panel held ... Read the full article
L/A & health reinsurers remain well capitalised despite elevated mortality: AM Best
11th September 2022
According to AM Best, companies within the global life/annuity and health reinsurance segments are adopting different approaches as they react to elevated mortality trends; however, these reinsurers have remained well capitalized throughout the pandemic. The report suggests life and health reinsurers’ earnings in 2021 suffered from adverse mortality trends, though the ... Read the full article
Fitch analysts view Russia-Ukraine war as a “contained risk”
11th September 2022
The full extent of insurance and reinsurance losses stemming from the conflict between Russia and Ukraine remains a murky subject with many unknown factors, but analysts at Fitch Ratings are confident that the war will prove to be a “contained risk” for the market. Speaking during a recent Global Reinsurance Briefing ... Read the full article
Lockton Re launches dedicated Capital Markets unit led by Breslin
11th September 2022
Lockton Re, the global reinsurance broking arm of the independent intermediary company, has this morning announced the launch of Lockton Re Capital Markets (LRCM), a dedicated specialist arm for capital markets and ILS activities. Zachary Breslin will lead the new LRCM unit at the firm, having joined the company from ... Read the full article
IQUW adds Warburg as Head Reinsurance, London. Lamer named Head, Reinsurance Bermuda
11th September 2022
IQUW, the property, commercial and speciality re/insurer, has hired Dan Warburg as its new Head of Reinsurance, London. The company has also promoted Rene Lamer to Head of Reinsurance, Bermuda. Warburg was most recently at Lancashire’s Syndicate 2010, where he was a Reinsurance Underwriter. With over 20 years' experience in reinsurance, he had ... Read the full article
US cyber market premiums shot up by 76% last year: Aon
10th September 2022
The US cyber market saw continued and increasing demand for its products in 2021, according to a new report from re/insurance broker Aon. The report, US Cyber Market Update: 2021 Cyber Insurance Profits and Performance, said the number of insurers in this sector grew from 200 to 214 between 2020 and ... Read the full article
Co-founder Evan Glassman leaves New Paradigm
10th September 2022
New Paradigm Underwriters, a specialist managing general underwriter and insurtech platform focused on parametric risk transfer, has announced the departure of co-founder and Board member Evan Glassman. The company confirmed that, going forward, Glassman will no longer serve as an officer and director of New Paradigm and its subsidiaries and is ... Read the full article
Alternative capital market poised to resume growth trend: Moody’s
9th September 2022
A positive pricing momentum for reinsurance will help alternative capital – capital from investors in the form of collateralized reinsurance, catastrophe bonds and reinsurance sidecars – to restart growth after five years of poor returns, according to a recent Moody’s report. Over the past 15 years, alternative capital has grown from ... Read the full article
Hugh Barbanell joins Aon as Senior Managing Director for Caribbean Region
9th September 2022
Hugh Barbanell has joined Aon as Senior Managing Director for the Caribbean Region. In this new role, he will be based in Miami, Florida. The announcement was made via LinkedIn, with Barbanell joining the firm after sixteen years with SCOR, where he served as Caribbean Market Manager. Barbanell has over three decades ... Read the full article
Everest Re names Catherine Rudow as Global Head of Cyber Reinsurance
9th September 2022
The reinsurance division of Bermuda-based carrier Everest Re Group, Ltd., Everest Reinsurance, has appointed Catherine Rudow to the newly created role of Global Head of Cyber Reinsurance. Rudow assumes responsibility for strategically expanding the company's cyber reinsurance business, driving consistent underwriting best practices and guidelines across the division. She will also be ... Read the full article
Ageas partners with eBaoTech to enable its digital platforms’ strategy
9th September 2022
Ageas Group has selected eBaoTech's InsureMO platform for its digital transformation as part of its strategy to explore and invest in new growth engines. Ageas plans to leverage InsureMO - a PaaS platform designed to accelerate insurance innovation - to enable its growth via B2B2C channels. Hans De Cuyper, the CEO of ... Read the full article
Argo syndicate sale could boost earnings, says S&P
9th September 2022
Analysts at S&P have assured that no immediate impact to ratings will be felt following Argo Group International Holdings’ sale of its Lloyd's Syndicate 1200 and Argo Underwriting Agency Ltd. to Westfield Specialty. However, the rating agency added that the transaction could improve Argo’s prospective earnings. Back in April, Argo confirmed ... Read the full article
Lions Gate appoints Mario Andrade to lead LatAm financial lines
9th September 2022
Lions Gate Underwriting, an independent underwriting agency and Lloyd’s coverholder, has appointed Mario Andrade to the Lions Gate Latin America underwriting team as managing director of its financial lines division. Based in Mexico, Andrade will lead the consolidation and growth of Lions Gate Latin America's financial lines offering in the region, ... Read the full article
Premium rates remain up YoY despite monthly fluctuations: IVANS
9th September 2022
Premium renewal rates for major commercial lines of business remain up year-over-year, according to the latest edition of the IVANS Index, despite fluctuations on a monthly basis. All lines of business expect Workers’ Compensation were up YoY, the Index shows, with BOP and Commercial Property showing the highest average increases. Month-over-month, BOP ... Read the full article