Reinsurance News
QBE Re appoints Brigstocke as Head of A&H and names four new hires
2nd September 2024
QBE Re has announced the addition of five new hires to its Accident & Health (A&H) team, appointing Henry Brigstocke as the new Head of A&H, who is joined by Mollie Sallery as Assistant Underwriter. The reinsurer also added Georgina Raeburn to the London team as Senior Underwriter, and Harriet Ayre ... Read the full article
Rising Edge acquires AMANIKI and launches Transactional Liability insurance offering
2nd September 2024
Rising Edge, a London-based directors’ and officers’ (D&O) Managing General Agent (MGA), and insurance broker, has announced it has signed an agreement to acquire AMANIKI GmbH. AMANIKI is an independent MGA that has been operating since 2019 under the leadership of Niki Demirbilek, who will be joining Rising Edge’s Executive Committee. Its ... Read the full article
Hiscox appoints Jane Guyett as Remuneration Committee Chair
2nd September 2024
Global specialist insurer Hiscox has appointed Jane Guyett as an Independent Non Executive Director and Chair of its Remuneration Committee, subject to regulatory approval. Guyett has served in a variety of roles across both the public and private sectors, including Senior Independent Director at UK Government Investments Limited and Chair of ... Read the full article
Big Four European reinsurer’s discipline to remain, says AM Best
2nd September 2024
Europe's four largest reinsurers, Swiss Re, Munich Re, Hannover Re, and SCOR, benefited from the hard reinsurance market in 2023, with better pricing and terms and conditions, and with strong results reported for the first half of 2024, discipline is expected to persist, according to AM Best. All four of the ... Read the full article
CCR Re appoints Sébastien Jallet as Head of Investment
2nd September 2024
French reinsurer CCR Re has announced the appointment of Sébastien Jallet as Head of Investment. In his new role, Jallet will be responsible for managing CCR Re’s investments and will report to Executive Management. Bertrand Labilloy, CEO of CCR Re, expressed enthusiasm for Jallet’s appointment, stating, “We are delighted to welcome Sébastien ... Read the full article
Aon promotes Rob Kemp to head of Commercial Risk Solutions, UK
2nd September 2024
Global professional services firm Aon has appointed Rob Kemp as head of Commercial Risk Solutions for the UK, subject to regulatory approval. Kemp joined Aon four years ago and currently leads the EMEA Central Broking team. Effective 1 October, he will be responsible for bringing more of Aon’s Risk Capital capabilities ... Read the full article
CrowdStrike IT outage could cost UK economy up to £2.3bn: Kovrr
2nd September 2024
Kovrr has estimated that the total cost to the UK economy from the CrowdStrike IT outage will likely fall between £1.7-£2.3 billion. For those unaware, back in July, an automatic update of CrowdStrike's Falcon sensor software crashed more than 8.5 million Microsoft Windows machines globally. According to Kovrr, the incident resulted in ... Read the full article
Keith Trivitt joins Amwins Amplify as Underwriting Director
2nd September 2024
The London-domiciled underwriting arm of global speciality distributor Amwins, Amwins International Underwriting, has appointed Keith Trivitt as the Underwriting Director for Amwins Amplify. Trivitt has experience in the segment from both a carrier and distributor perspective, a key combination that will further assist Amwins in developing the MGA. Most recently, he served ... Read the full article
CatX eyes expansion with appointment of Jon Wood as Head of Origination
2nd September 2024
CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has appointed industry leader Jon Wood as Head of Origination. The hire affirms the company’s commitment to broadening market reach ahead of the January renewals, as it targets a significant increase in transaction volume particularly in parametric, industry loss ... Read the full article
Fitch anticipates rise in reinsurance M&A activity as market softens
2nd September 2024
Although 2024 has not seen any major reinsurance M&A announcements, Fitch Ratings expects that as the market inevitably softens and organic growth opportunities diminish, companies that have accumulated capital may seek to acquire less successful re/insurers. Fitch analysts noted that M&A activity has slowed in 2024 following several large deals in ... Read the full article
Vanbridge names Aon’s Osmel Cuan as Managing Principal & Tax Liability Practice Leader
2nd September 2024
Vanbridge, an EPIC company, has announced the appointment of Osmel “Oz” Cuan as Managing Principal and Tax Liability Practice Leader. In his new role, Cuan will join the Transactional Risk Solutions team and lead the Tax Liability Insurance practice. Greylen Mardy, Managing Principal and Transactional Risk Solutions Leader at Vanbridge, expressed enthusiasm ... Read the full article
Record cat bond issuance fuelled growth of broader ILS market: Aon
30th August 2024
Insurance and reinsurance broker Aon has published the 18th edition of its Insurance-Linked Securities (ILS) Annual Report, which highlights a year of exceptional ILS activity, with $17.9 billion in catastrophe bonds issued across 76 transactions. Covering the 12 months ending June 30, 2024, the Aon Securities report notes that record levels ... Read the full article
KBRA assigns rating to new Florida reciprocal exchange Trident
30th August 2024
Credit rating agency KBRA has assigned a BBB Insurance Financial Strength Rating (IFSR) to Trident Reciprocal Exchange (Trident), with a stable outlook. Trident is a newly established de novo reciprocal exchange focused on writing homeowners’ insurance in Florida. The rating reflects Trident’s low underwriting leverage and substantial surplus relative to expected premiums ... Read the full article
Growing need for MIS’ GEO amid rising nat cat losses: Forbes McKenzie
30th August 2024
With annual insured natural catastrophe losses consistently exceeding $100 billion, the demand for services like McKenzie Intelligence Services’ (MIS) Global Events Observer (GEO) platform is increasing, as it accelerates disaster relief and economic recovery. In an interview with Reinsurance News, Forbes McKenzie, Founder and CEO of MIS, explained how the firm ... Read the full article
Aon & Future Climate collaboration to strengthen voluntary carbon market
30th August 2024
Global insurance and reinsurance broking group Aon is collaborating with Future Climate to build a robust marketplace in order to support scaling of the voluntary carbon market (VCM) and project development. From what we understand, this will mean that any buyer will be able to take out an insurance policy to protect ... Read the full article
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