Reinsurance News

UK non-life outlook deteriorating: Fitch

30th November 2022

Analysts at Fitch Rating have warned that their sector outlook for the UK non-life company market in 2023 is deteriorating, while the outlook for the London insurance market sector remains neutral. The rating agency says that its diverging sector outlooks reflect the different credit profiles of these two subsectors of the ... Read the full article

Aon hires Alex Wootton as EVP of global benefits division

30th November 2022

Aon has hired Alex Wootton as executive vice president of global benefits advisory and solutions. Wootton will focus on driving growth, best-in-class advisory support, thought leadership and innovation across a range of specialty health issues facing employers today. He reports to Dave Guilmette, chief executive officer of Aon’s Health Solutions. On LinkedIn, ... Read the full article

KKR invests in European insurance broker APRIL

30th November 2022

French insurance broker APRIL Group has announced it has signed a long-term strategic partnership with global investment firm KKR. KKR joins this “strategic” partnership as a majority shareholder. Details of the transaction have not been disclosed and it is yet to be approved. According to the announcement, by teaming up with KKR, ... Read the full article

DeNexus names Víctor M. Aguilar VP of Sales EMEA region

30th November 2022

Cyber risk modeller DeNexus, has appointed Víctor M. Aguilar as Vice President of Sales - Europe, the Middle East and Africa (EMEA). In his new role, Aguilar will be tasked with extending the firm’s value proposition in the cyber risk quantification and management sphere to the United Kingdom, Europe, Middle East ... Read the full article

Arthur J. Gallagher acquires P&C agency Bulen & Associates

30th November 2022

Re/insurance broking firm Arthur J. Gallagher & Co has announced the acquisition of California-based Bulen & Associates Insurance Services, Inc. Bulen & Associates is a retail property/casualty insurance agency serving commercial clients and individuals. It was founded in 1929 and is currently based in Murrieta, southern California. Agency Principal and Sales Manager Lisa ... Read the full article

Singapore insurtech Igloo extends Series B funding round to $46m

30th November 2022

Singapore-based insurtech Igloo has announced that it has successfully raised an additional $27 million in its Series B extension led by the InsuResilience Investment Fund II, bringing a close to the funding round at $46 million. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the ... Read the full article

COP27 saw climate finance breakthroughs, but failed to adapt emission pledges: Swiss Re

29th November 2022

At the COP27 climate change conference that took place earlier this month, breakthroughs on climate finance were announced, but the event failed to adopt more ambitious emissions reduction pledges and agree the further phase-out of all fossil fuels, suggests Swiss Re. A new report by Swiss Re Institute, highlights that the ... Read the full article

AM Best maintains stable outlook on US life/annuity industry

29th November 2022

In a new report from AM Best, the rating agency has stated that it is maintaining a stable market segment outlook on the US life/annuity insurance industry for 2023. Best cited factors that include favourable earnings, strong liquidity profiles and strong levels of risk-adjusted capitalization among carriers. In the report titled Market ... Read the full article

Sompo International sets sights on overseas growth

29th November 2022

Sompo International has signalled its intentions to expand and grow within Canada, continental Europe, and southeast Asia. The moves were intimated during a presentation given last Friday in Japan to senior executives at Sompo Holdings. It said that this will be achieved through the opening of new branch locations, expanding relationships ... Read the full article

Zurich Australia names Head of Property, Marine & Technical Lines

29th November 2022

Zurich Financial Services Australia, a division of global insurer Zurich, has announced the appointment of Evan Moore as Head of Property, Marine & Technical Lines for its general insurance business. Moore currently serves as Head of Personal Lines Underwriting at Zurich in the United Kingdom, where he has responsibility for delivering ... Read the full article

Everspan promotes Dresner to President as Wyatt Blackburn retires

29th November 2022

Everspan Group has promoted Steven K. Dresner to President of Everspan, succeeding Wyatt Blackburn, who has retired. Blackburn will assume the role of Vice Chairman of Everspan Holdings and become a member of the Everspan Holdings Board of Directors. Blackburn joined Everspan in July 2020, bringing nearly 40 years of experience to ... Read the full article

FEMA reports NFIP has paid $793m in claims so far following Hurricane Ian

29th November 2022

The U.S. Federal Emergency Management Agency (FEMA) has reported that the National Flood Insurance Program (NFIP) has paid $793 million in claims following Hurricane Ian, as Federal support nears $3 billion. FEMA suggests that more than $2.97 billion in federal grants, disaster loans and flood insurance payments has been provided to ... Read the full article

Reinsurers face “generational opportunity,” if they can deploy: Howden’s Michelle To

29th November 2022

Michelle To, Head of Business Intelligence at international insurance broker Howden, has asserted that the current pricing environment presents “generational opportunities” for those reinsurers that are able to deploy capital efficiently. Speaking as part of a Q3 insurance and earnings update, To concluded that pricing dynamics are “creating a healthier forward ... Read the full article

The Hanover appoints Schuler to lead Management and Executive Liability

29th November 2022

The Hanover Insurance Group has appointed Eric M. Schuler as President of management and executive liability, effective immediately. Within this role, Schuler will assume responsibility for the strategy and execution of The Hanover's management liability business, which offers specialized solutions for a broad range of private companies, non-profit organizations and financial institutions. With ... Read the full article

Aon names two new leaders in Reinsurance Solutions APAC team

29th November 2022

Re/insurance broker Aon has named Robert De Souza and John Carroll to new roles within its Reinsurance Solutions Asia Pacific (APAC) team. Robert De Souza, who is currently Reinsurance Solutions’ CEO of Australia and New Zealand and chairman of APAC, will now become Reinsurance Solutions’ president of APAC. The firm states that ... Read the full article