Reinsurance News
Relation Insurance Services names Brandon YoungFountain as EVP and Head of M&A
12th November 2024
Insurance brokerage, Relation Insurance Services, has appointed Brandon YoungFountain as Executive Vice President (EVP) and Head of Mergers and Acquisitions (M&A), where he will oversee Relation’s M&A initiatives nationally across the organization. YoungFountain has over two decades of experience in financial services executing numerous high-profile transactions and strategic initiatives. Most recently, he ... Read the full article
Moody’s changes outlook to stable for Italian life insurance, P&C remains stable
12th November 2024
Ratings agency Moody's has changed its outlook for the Italian life insurance sector to stable from negative, and maintained its stable outlook for Italian property and casualty (P&C) insurers. Analysts highlighted how Italian life insurers were hit by record net outflows in 2023, which was a reflection of high surrenders of ... Read the full article
Dan Browne and Chloe Pitchford join TMHCC’s Professional Risk team
12th November 2024
Tokio Marine HCC (TMHCC), a specialty insurance provider, has announced the appointments of Dan Browne as a Professional Indemnity (PI) Underwriter and Chloe Pitchford as a PI Development Underwriter. Both will join TMHCC’s expanding Professional Risk team, with Browne based in London and Pitchford in Manchester. These appointments strengthen TMHCC’s ability to ... Read the full article
Andrew Tudor-Thomas and Chris Coulson appointed to key roles in SompoRe team
11th November 2024
Sompo, a global provider of commercial and consumer property and casualty (P&C) re/insurance, has announced new appointments within its SompoRe team, with Andrew Tudor-Thomas and Chris Coulson taking on key roles. Andrew Tudor-Thomas has been appointed Executive Vice President (EVP), Head of North America P&C Reinsurance. Bringing over 20 years of industry ... Read the full article
Quantum of Helene & Milton loss similar to Ian, slight softening still expected at Jan renewals: JP Morgan
11th November 2024
In its recent Love Actuary report, JP Morgan compared losses from Hurricane Ian in 2022 with the total claims emerged from Hurricanes Helene and Milton in 2024 so far, noting that the total quantum of loss is similar. Despite these hurricane losses, analysts highlight the notable shift in the reinsurance market ... Read the full article
FM appoints Steve Wrinkle as SVP of Strategy and Business Transformation
11th November 2024
FM, a commercial property insurer, has appointed Steve Wrinkle as Senior Vice President of Strategy and Business Transformation. In this newly created role, Wrinkle will be based at FM's headquarters in Johnston, Rhode Island, where he will oversee strategic development and management, including leading the company’s portfolio of key initiatives. Additionally, he ... Read the full article
More than 72,000 NFIP claims filed in Florida from hurricanes Debby, Helene and Milton: FEMA
11th November 2024
The U.S. Federal Emergency Management Agency (FEMA) confirmed on November 8th, 2024, that more than 72,000 claims had been filed by National Flood Insurance Program (NFIP) policyholders who experienced flood damage from hurricanes Debby, Helene, and Milton in Florida. As of last Friday, NFIP policyholders had received around $894 million to ... Read the full article
Rob Organ to succeed Alistair Hardie as Group CEO of Jensten
11th November 2024
UK broker and underwriter Jensten has promoted Rob Organ to Group Chief Executive Officer (CEO) effective immediately as Alistair Hardie steps down. As part of succession planning, Organ was promoted to CEO Broking earlier this year. He has previously served as the CEO of Bluefin Insurance Group and joined the Jensten ... Read the full article
Bishop Street Underwriters acquires Ethos Transactional
11th November 2024
Bishop Street Underwriters, a RedBird Capital Partners portfolio company, has acquired Ethos Specialty’s Transactional Liability unit. Financial terms were not disclosed. This acquisition, Bishop Street noted, further strengthens its platform and expands its suite of specialised client solutions while continuing to drive strong underwriting profitability. Ethos Transactional concentrates on managing risks associated ... Read the full article
Brown & Brown hires Deloitte’s Paul Gallagher as controller
11th November 2024
Insurance brokerage Brown & Brown has hired Paul Gallagher as its new controller, a role which will see him provide strategic guidance and leadership for all of the firm's financial operations, including SEC and financial reporting, controls and compliance, acquisitions, planning and strategic decision-making. As controller, Gallagher will also play a ... Read the full article
Brighthouse Financial completes transaction to reinsure its fixed and payout annuities
11th November 2024
Brighthouse Financial, Inc., the US-domiciled annuities and life insurance provider, has completed a reinsurance transaction with a third party to reinsure a legacy block of its fixed and payout annuities. The transaction was previously discussed on the company’s earnings call for the quarter ended September 30, 2024, during which it revealed ... Read the full article
Optio appoints Davenport group CRO amid continued expansion
11th November 2024
Specialty managing general agent (MGA) Optio Group has announced the appointment of Insi Davenport to the newly created executive role of group chief risk officer (CRO), effective immediately. With more than 25 years of industry experience, Davenport’s expertise spans enterprise risk management, regulatory compliance, operational risk and M&A. Prior to joining Optio ... Read the full article
Ardonagh Specialty appoints Aon’s Dan Walsh as CUO
11th November 2024
Ardonagh Specialty, part of the Ardonagh Group, has recently appointed Dan Walsh as Chief Underwriting Officer (CUO). Walsh is an experienced insurance executive, bringing 30 years of industry experience to his new role. He joins Ardonagh Specialty from Aon, where he spent nearly seven years, most recently serving as Chief Underwriting Officer ... Read the full article
Hannover Re expects stable P&C reinsurance market terms, additional demand in 2025: CEO Henchoz
11th November 2024
European reinsurance company Hannover Re is expecting a broadly flat risk-adjusted rate environment for the property and casualty (P&C) market in 2025, which supports its combined ratio guidance of less than 88% for next year, with terms in the segment projected to be stable amid strong demand and a disciplined ... Read the full article
BMS establishes BMS Bacchus for comprehensive winery protection
11th November 2024
BMS Group (BMS), a re/insurance broker, has introduced BMS Bacchus, a specialised stock throughput insurance solution for wineries. Designed to protect wine throughout its lifecycle—from grape harvest through production, storage, and distribution—BMS Bacchus provides a centralised tool for wineries to make informed choices about risk management and resource allocation using advanced ... Read the full article
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