Reinsurance News
Lloyd’s grants in principle approval for Awbury Syndicate 2025 to start underwriting
17th September 2024
The Awbury Group and Polo Managing Agency Limited have confirmed that Lloyd’s has granted “in principle” approval for Awbury Syndicate 2025 to commence underwriting from January 1st, 2025. The syndicate will be managed by Polo Managing Agency Limited, the independent Lloyd’s Managing Agent and a PoloWorks company. Awbury Syndicate 2025 specialises in ... Read the full article
Lila Granda promoted to Head of Political Risk and Credit at Vantage
17th September 2024
Vantage Group Holdings Ltd., a provider of insurance and reinsurance solutions, has announced the promotion of Lila Granda to Head of Political Risk and Credit (PRC). Effective immediately, Granda will join the group's Insurance leadership team and report directly to Alex Blanco, Chief Executive of Insurance. In her new role, Granda will ... Read the full article
Reinsurers show steadfast discipline and modest adjustments: RBC Capital Markets
17th September 2024
RBC Capital Markets, the investment banking arm of Royal Bank of Canada, provides a comprehensive analysis of the Monte Carlo RVS 2024, highlighting that reinsurers are steadfastly maintaining their position in renewal negotiations. Following a period of underperformance leading up to 2023, reinsurers are working to rebuild their earnings. Despite a challenging ... Read the full article
69% of underwriters & 67% of actuaries concerned about being replaced by AI: hyperexponential
17th September 2024
69% of underwriters and 67% of actuaries are concerned about being replaced by artificial intelligence (AI) in the next five years, according to research from hyperexponential, the pricing platform for global re/insurers. A recent study by the firm has revealed mass concern among insurance professionals around AI technology. Moreover, research has also ... Read the full article
AXIS appoints Sara Mitchell as Head of Global Markets, Mark Gregory to retire
17th September 2024
Global specialty underwriter and provider of re/insurance, AXIS Capital Holdings Limited, has announced the appointment of Sara Mitchell as its future Head of Global Markets, succeeding Mark Gregory who will retire from the company in March of 2025. Having previously served as Divisional President of Chubb’s Continental Europe and MENA business, ... Read the full article
One of the biggest problems we have as an industry is coverage: ConnectUW CEO
17th September 2024
There are numerous issues from the soft market era that have not been addressed in the current market, and until they’ve been properly attended to, the re/insurance industry is going to end up where it started, according to Group CEO and CUO of Connect Underwriting, Jamil Elbahou. ConnectUW is a specialist ... Read the full article
New carrier to provide insurance solutions for Amwins SRU’s Excess D&O program
17th September 2024
Amwins Special Risk Underwriters (SRU) has enhanced its Excess D&O offering with the addition of a new carrier that holds a dedicated focus on Excess D&O specialty programs. The new carrier is recognized as a major specialty insurer, rated "A+" (Superior) by A.M. Best, that underwrites innovative D&O solutions on a ... Read the full article
Kewsong Lee named Chairman of Ascot’s Board of Directors
17th September 2024
Bermuda-based global specialty insurance company Ascot Group Limited has revealed that Kewsong Lee, the Founder and CEO of BellTower Partners, will be appointed Chairman of the Ascot Board of Directors. Lee will succeed Neill Currie, Ascot's Executive Chairman, who will assume the role of Independent Director. BellTower is additionally making a minority ... Read the full article
Aon appoints Mona Barnes as Global Chief Claims Officer
17th September 2024
Aon, the global re/insurance broking group, has appointed Mona Barnes as Global Chief Claims Officer, effective immediately, reporting to Joe Peiser, Chief Executive Officer (CEO) of Commercial Risk. As Global Chief Claims Officer, Barnes will be expected to lead claims across Aon’s practice worldwide, working closely with the firm’s global leaders. In ... Read the full article
CFC launches new carbon lender insurance policy
17th September 2024
Specialist insurance provider CFC has developed a new insurance policy, first deployed with Standard Chartered Bank, designed to cover commercial loans to carbon credit projects. "In a true first for both the insurance and carbon finance markets, CFC built a policy that reduces the risk associated with providing debt financing to ... Read the full article
Nature of Bermuda’s growing life reinsurance market is evolving: Cooper, PwC Bermuda
17th September 2024
The Bermuda life reinsurance market has expanded rapidly in recent times, and in 2024 alone, the Bermuda Monetary Authority (BMA) has licensed an additional seven new players, while both existing and new entities have looked to innovate and refine their offerings, according to Damian Cooper, an experienced audit focused Partner ... Read the full article
Swiss Re selects mea platform’s GenAI solution to enhance operations
17th September 2024
mea, a GenAI-powered global platform for insurers, has announced that Swiss Re has selected its platform to enhance its insurance and reinsurance operations, strengthening their existing partnership. This expanded partnership builds on their successful collaboration that began in July 2023, when Swiss Re first selected mea for its Corporate Solutions business. ... Read the full article
P&C insurers to retain majority of losses from Hurricane Francine: Moody’s
17th September 2024
According to a recent Moody’s Ratings report, property and casualty (P&C) insurers are expected to absorb most of the losses from Hurricane Francine, which made landfall in Terrebonne Parish, Louisiana, on September 11, 2024. Hurricane Francine, a Category 2 storm with winds reaching 100 miles per hour, caused significant damage with ... Read the full article
Guy Carpenter appoints Heather Legg as Managing Director of Canadian broking team
17th September 2024
Guy Carpenter, the reinsurance broking division of Marsh McLennan, has announced the appointment of Heather Legg as Managing Director (MD) of its Canadian broking team. In her new role, Legg will be based in the firm's Toronto, Canada office. In a recent post, Guy Carpenter stated, “Heather’s extensive experience in reinsurance underwriting ... Read the full article
Price Forbes Re adds Fred Few Brown and Gerken to Fac team
17th September 2024
Price Forbes Re, an independent specialist risk strategy and reinsurance broker, is expanding its facultative team across all product lines with the appointments of Fred Few Brown and Jonathan Gerken. In his new role, based in London, Few Brown will be responsible for property fac. He joins Price Forbes Re from ... Read the full article
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