Reinsurance News
Karl Canty joins Capco as new partner in US insurance practice
24th June 2024
Capco, the technology and management consultancy, has named Karl Canty as a new partner in its US insurance practice, located in Hartford, CT. Canty will focus on strengthening client relationships, boosting sales, and providing value to insurers, especially to Capco’s prominent Life & Annuities clients. Matthew Hutchins, Partner and Global Head of ... Read the full article
Insurtech Counterpart names Muglia Professional Liability Insurance Lead
24th June 2024
Counterpart, a management and professional liability insurtech backed by Markel, Aspen, and Westfield, has announced the appointment of industry veteran, Michael Muglia, as its Professional Liability Insurance Lead. In addition, Counterpart also announced the promotion of three of its longest-standing team members as Territory Leads: Brad Bahler, Satwik Mysore and Jake ... Read the full article
Northern Re sees strong start to operations amid warm welcome from market
21st June 2024
Cayman Islands-based Northern Re has enjoyed a strong start to its operations, receiving a "very warm welcome" from the market in 2023, and anticipates that conditions will continue to improve into 2025, driven by the ongoing growth trajectory of the MGA and program markets. Northern Re's comments stem from an interview ... Read the full article
Southern New Mexico wildfires bring potential for hundreds of millions in losses: Aon
21st June 2024
Aon, a professional services firm specialising in risk management and insurance solutions, has underscored in their weekly catastrophe report the significant economic impact of the ongoing wildfires in southern New Mexico, where potential losses could soar into the hundreds of millions of dollars. Recent wildfires have devastated southern New Mexico, particularly ... Read the full article
CAPE to enhance AI-powered property intelligence products with Vexcel partnership
21st June 2024
CAPE Analytics, a provider of AI-powered property insights, has partnered with Vexcel, a provider of aerial imaging, to increase its coverage to over 99% of US households and adds access to post-disaster imagery. The new partnership provides CAPE with aerial imagery at a resolution, accuracy, coverage, and recency to boost its ... Read the full article
ISC hires Dimitri Robert as Chief Technology Officer
21st June 2024
Integrated Specialty Coverages (ISC), the multi-line program administrator, has appointed Experian's Dimitri Robert as Chief Technology Officer (CTO). In his new role, Robert is expected to head ISC's engineering department, as well as develop tech strategies that align with the company's growth and financial goals. An experienced veteran across the sector, Robert ... Read the full article
Softening pricing in US directors & officers insurance as premiums decline: AM best
21st June 2024
Strong underwriting performance in the US directors and officers (D&O) liability insurance market is expected to put downward pressure on rates due to reduced demand in this segment, according to a recent report by credit rating agency AM Best. Based on findings from Best's Special Report, direct premiums in the monoline ... Read the full article
Howden places first W&I policy for Mere Plantations carbon credits sale
21st June 2024
Howden, a global insurance intermediary group, has announced the launch of the first Warranty & Indemnity insurance policy for the sale of carbon credits for the reafforestation project of degraded forest lands by Mere Plantations. UK-based Mere Plantations owns and operates a teak plantation in Ghana, West Africa, and has been ... Read the full article
MAPFRE USA promotes Olohan to Chief Operating Officer
21st June 2024
Industry veteran Daniel P. Olohan has been promoted to Chief Operating Officer (COO) of MAPFRE USA, effective August 1, 2024. Olohan has been with the firm since 2006, and has served as General Counsel and Secretary since 2008. As well as taking on this new role, Olohan will also join the Board of ... Read the full article
AXA and HK Express partnership to provide travellers hassle-free journeys
21st June 2024
AXA Hong Kong and Macau has entered into an exclusive partnership with HK Express Airways to offer tailored protection to enable HK Express customers enjoy hassle-free journeys. Kenneth Lai, Chief General Insurance Officer at AXA Hong Kong and Macau, said: “AXA has been actively expanding its insurance ecosystem and is committed ... Read the full article
ISC introduces New Marine Division with seasoned industry experts
21st June 2024
Integrated Specialty Coverages (ISC), a programme administrator based in Carlsbad, California, specialising in creating comprehensive insurance solutions using advanced artificial intelligence (AI) and data analytics, has recently introduced its new Marine Division. This division is led by experienced industry professional Kevin Wolfe, along with John Kiernan and Marquam “Marq” Wolfe. Matt Grossberg, ... Read the full article
S&P upgrades REVO Insurance rating to A-
21st June 2024
S&P Global Ratings has raised REVO Insurance, S.p.A.’s, an Italian insurer specialised in parametric policies and specialty lines, rating from BBB+ to A- with a stable outlook. According to the rating agency, the upgraded rating reflects the insurer’s “profitable growth across all the business lines maintaining its leadership in the Surety ... Read the full article
Palomar Holdings announces two key leadership appointments
21st June 2024
Palomar Holdings, a specialty property insurer, has announced two key appointments: Tim Carter as Chief People Officer and Rodolphe “Rudy” Herve as Chief Operating Officer. Mac Armstrong, Chairman and Chief Executive Officer of Palomar, expressed his enthusiasm about these appointments, stating, “We are thrilled to welcome Tim and Rudy to Palomar ... Read the full article
Achmea sponsors €100m cat bond covering European windstorm
21st June 2024
Achmea Reinsurance Company N.V has entered into a four-year reinsurance agreement with Windmill III Re DAC, a multi-arrangement special purpose vehicle incorporated in Ireland, providing per occurrence cover in respect of losses from European windstorms originating from Achmea’s non-life insurance companies Achmea Schadeverzekeringen N.V. and N.V. Hagelunie. Achmea explained that Windmill ... Read the full article
AM Best upgrades credit ratings of Athene
21st June 2024
Rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of the members of Athene Group (Athene), and has assigned a stable outlook to the ratings. As noted by the ... Read the full article
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