Reinsurance News
Daisy Lopez joins CFC USA as Senior Executive Underwriter
11th July 2024
CFC, an insurance provider specialising in emerging and cyber risks, has announced the appointment of Daisy Lopez as Senior Executive Underwriter for CFC USA. In her new role, Lopez will lead the expansion of CFC’s new mid-market cyber division in the US. Shannon Groeber, CEO at CFC USA, commented, “This is an ... Read the full article
Hurricane Beryl: $3.3bn in insured losses estimated by KCC
11th July 2024
Karen Clark & Company (KCC) has estimated that the privately insured loss from Hurricane Beryl will be close to $510 million in the Caribbean, $90 million in Mexico and $2.7 billion in the US. According to the firm, its US estimate includes the privately insured damage to residential, commercial, and industrial ... Read the full article
Hurricane Beryl triggers all CCRIF parametric policies for Grenada
11th July 2024
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) will make payouts totalling around US$44 million to the Government of Grenada following the passage of Hurricane Beryl, which triggered all of the company’s parametric policies for the country. Hurricane Beryl devastated 90% of all buildings – the airport, marinas, gas stations, the hospital ... Read the full article
RGA & Principal make key investment in Zoë Foundry
11th July 2024
Reinsurance Group of America (RGA) and Principal Financial Group (Principal) have partnered with Zoë Foundry, the venture studio focused on the employee benefits ecosystem, investing a combined $5 million as their lead investors. This investment from RGA and Principal will reportedly allow Zoë Foundry to expand its operations and invest further ... Read the full article
Marsh McLennan appoints Jan Siegmund to its Board
11th July 2024
Marsh McLennan, a global re/insurance broker, has added Jan Siegmund to its Board as a Director, effective immediately. The Board of Directors now consists of 12 directors. H. Edward Hanway, Chair, Company’s Board of Directors, commented on the appointment, "Effective succession planning and board refreshment are at the core of our ... Read the full article
Orion180’s 2024 hurricane season reinsurance tower grows 47%
11th July 2024
Orion180 has completed its reinsurance placement for excess-of-loss (XOL) and net quota share agreements for the 2024 hurricane season, marking a 47% increase in the firm's tower from 2023. According to Orion180, with this strategic placement, it will continue to deliver a wide range of personalised homeowners insurance products and anticipates ... Read the full article
Qubit enters Australian market, teams with Monochrome to insure first bitcoin ETF
11th July 2024
Specialist underwriter, Qubit, has expanded into the Australian market by providing insurance coverage for Monochrome, the specialist investment management firm offering regulated access to crypto-assets. It's important to note, that Monochrome is known for introducing Australia's first approved Bitcoin ETF, which holds bitcoin directly. Moreover, in June, Monochrome teamed with State Street ... Read the full article
Alliant hires Williamson as SVP within its Alliant Americas Division
11th July 2024
Alliant Insurance Services, the insurance brokerage and consulting firm, has hired 35-year industry veteran, Ali Williamson as Senior Vice President within the company's Alliant Americas division. In the role, Williamson will be based in Denver, where she will be tasked with delivering risk management and property and casualty insurance solutions to ... Read the full article
Monarch E&S acquires MGA Commercial Sector Insurance Brokers
11th July 2024
Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has acquired the assets of Commercial Sector Insurance Brokers, LLC (CSIB), an Excess & Surplus (E&S) wholesale broker based in Birmingham, Alabama. With a management team with over 50 years of combined industry experience led by Bob Bleistine, CSIB is ... Read the full article
Altamont appoints Brad Fischtrom as Operating Partner
11th July 2024
Altamont Capital Partners, a private investment firm based in the San Francisco Bay Area, has announced the appointment of Brad Fischtrom as an Operating Partner to support its insurance investment efforts. In this role, Fischtrom will advise on investments in property and casualty (P&C) insurance and forward-looking strategies to expand Altamont’s ... Read the full article
Eastern Alliance implements CLARA AI to enhance workers’ comp claims management
11th July 2024
Eastern Alliance Insurance Group, a fully owned subsidiary of ProAssurance Corporation, has chosen the CLARAty.ai platform from CLARA Analytics, a provider of artificial intelligence (AI) technology for optimising insurance claims, to enhance claims management. This platform will help improve medical outcomes for injured workers, increase the accuracy of reserves, and reduce ... Read the full article
Devonshire Underwriting names TR specialist Grant as Underwriting Manager
11th July 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk (TR) solutions, has announced the appointment of Michael Grant as Underwriting Manager. Grant brings extensive experience across the transactional risk space, combined with his strong relationships in the sector to his new role. He will initially focus on enhancing Devonshire’s ... Read the full article
Climate change threatens electric grid resilience, urging insurance-backed adaptation: Swiss Re
10th July 2024
According to Mitali Chatterjee, Insurance Research Manager at Swiss Re, the global reinsurer, climate change is intensifying severe weather events worldwide, significantly impacting the electric grid, emphasising the need of insurance in funding adaptation efforts and enhancing infrastructure resilience. An analysis of US power outages from 2012 to 2023 indicates that ... Read the full article
Tim Banks to lead sales for Aon’s Investment practice
10th July 2024
Global insurance and reinsurance broker Aon has announced Tim Banks has joined its UK Wealth practice as partner at a time when the company enters its next phase of growth across DB pensions, insurance and not-for-profit organisations. In his new role, Banks will lead sales for Aon’s Investment practice across various ... Read the full article
Rokstone announces launch of new US Sports & Leisure Casualty division
10th July 2024
Rokstone, an international specialty (re)insurance MGA within the Aventum Group, has announced the launch of its new Sports & Leisure Casualty division in the United States. Heading this initiative is Charles Landrum, a professional in the US commercial casualty market with over four decades of expertise in crafting specialised solutions for ... Read the full article
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