Reinsurance News
Goldman Sachs analysts suggest Generali could make reinsurance recovery on Storm Boris impacts
20th September 2024
With Generali’s European flood per event reinsurance coverage kicking in after a €300 million attachment, the insurer could make a reinsurance recovery on Storm Boris as analysts at Goldman Sachs forecast losses for the firm to be between €300 and €425 million. Storm Boris impacted Central Eastern European (CEE) countries, as ... Read the full article
Central Europe floods expected to drive billions of EUR in total losses, says Aon
20th September 2024
The recent severe flooding that impacted Central Europe as a result of continuous rain from September 12-16 is expected to become one of the costliest events on record for the region, with billions of EUR in total losses, according to global re/insurance broking group Aon. Data disclosed by insurers and associations ... Read the full article
ERGO appoints Theo Kokkalas & Oliver Willmes to new board roles
20th September 2024
ERGO, Munich Re's primary insurance business, has announced that Theo Kokkalas will be responsible for ERGO's international business and Oliver Willmes will be responsible for ERGO's activities in Germany, effective January 1, 2025. Markus Rieß, CEO of the ERGO Group, commented, "Theo Kokkalas and Oliver Willmes have both delivered exceptional performances ... Read the full article
South Shore Insurance Underwriters expands to US West Coast with LSI acquisition
20th September 2024
Managing general agency South Shore Insurance Underwriters (SSIU) has announced the acquisition of Linneman Specialty Insurance (LSI), as part of the MGA’s expansion plans to the US West Coast. LSI, founded by the late John Linneman and current president Raymond Brown in 2011, aims to deliver exceptional service while writing a ... Read the full article
MGA Pivix launched by E&S insurance veteran Mike Miller
20th September 2024
Pivix Specialty Insurance Services Inc. (Pivix), a managing general agency with a particular focus on the Excess and Surplus (E&S) lines market, has officially launched its operations. Pivix is an E&S platform that offers property and casualty coverages for targeted segments. The company was founded by a team of experienced E&S veterans, ... Read the full article
Davies adopts Majesco’s AI driven system to predict risks efficiently
20th September 2024
Davies, a professional services and technology specialist, has partnered with Majesco, a global cloud insurance software solutions firm, to provide faster and more efficient loss control and premium audit surveys for clients. This move allows Davies to implement Majesco’s AI-driven Loss Control 360 (LC360) inspection management system, which adapts to evolving ... Read the full article
AUB names Wilson CEO of Tysers and Pybus CEO of AUB UK Retail
20th September 2024
Australian insurance broker AUB Group has announced the appointments of Tom Wilson as CEO of Tysers and Bob Pybus as CEO of AUB UK Retail, both effective from 1 October 2024 and subject to regulatory approval. As Wilson takes his new role, Mike Emmett, CEO and MD of AUB Group, will ... Read the full article
AXA XL bolsters UK cyber team with key hires from LSM & BHSI
20th September 2024
AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has expanded its cyber capabilities across the UK with a series of key hires in its underwriting and claims divisions. Vanessa Leemans, who has led the firm's cyber operations in the UK since joining in ... Read the full article
Monarch E&S acquires assets of Professional Insurance Executives
20th September 2024
Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has expanded its operations by acquiring the assets of Professional Insurance Executives (PIE). Founded by Bruce Hart, PIE is a contract binding/brokerage firm based in Garland, Texas, known for its expertise in underwriting and commitment to integrity, innovation, and customer ... Read the full article
QBE nominates Mario Díaz-Guardamino as next MD for QBE Iberia
20th September 2024
QBE, the business insurer, has named Mario Díaz-Guardamino as the next Managing Director for QBE Iberia. In his new role, Díaz-Guardamino will oversee QBE’s operations in Spain, leading teams in the Madrid and Barcelona offices. His responsibilities include focusing on profitable growth by driving expertise, service delivery, and strong relationships with brokers ... Read the full article
Aon appoints Chris Simmons as Head of Health UK
20th September 2024
Global insurance and reinsurance broking group Aon has announced the appointment of Chris Simmons as Head of Health UK. In a recent LinkedIn post, Aon stated, “Chris has spent almost three decades in the health industry, with his most recent role as Chief Broking Officer in our UK Health team. Chris ... Read the full article
BAM Mutual launches bond insurance for Australia’s infrastructure and energy projects
20th September 2024
BAM Mutual, a bond insurer specialising in lowering the cost of debt for essential infrastructure projects, is expanding by opening an office in Melbourne. The company will now provide insurance for bonds and loans used to finance projects across Australia and New Zealand. Their priorities will encompass electricity transmission and distribution systems ... Read the full article
wefox hires Joachim Müller from Allianz as CEO, Mark Hartigan to continue as Chairman
20th September 2024
Insurtech wefox Holding AG has appointed Joachim Müller as its new Chief Executive Officer (CEO), effective immediately, while Mark Hartigan, who has served as both Chairman of the Board and interim CEO during the recent restructuring, will continue as Chairman. These appointments come at a crucial time for wefox, as it ... Read the full article
Resilient economy to drive strong insurance growth in India: Amitabha Ray, Swiss Re
20th September 2024
In a recent interview with Reinsurance News, Amitabha Ray, Market Head of India at global reinsurance giant Swiss Re, described India's economy as resilient despite the current high consumer price inflation, with insurance sector growth above the global trend expected in the region. Ray disclosed that total insurance premiums are projected ... Read the full article
QBE opens new Leeds office, the insurer’s largest European site outside of London
20th September 2024
Business insurer QBE has officially launched its new Leeds office situated at West Village, the largest European site for the global insurer outside of London, with more than 450 employees, representing a 40% increase in the Yorkshire hub's workforce since 2022. The launch of this office, according to QBE, reinforces its ... Read the full article
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