Reinsurance News
Ben Sloop to succeed James Drinkwater as Amwins Group President
10th December 2024
Global specialty insurance provider Amwins Group, has announced the appointment of Ben Sloop as President, effective January 1, 2025. He will be taking over the role from James Drinkwater who will transition into the role of Vice Chair of Amwins while remaining active as Executive Chairman of Amwins Global Risks, continuing ... Read the full article
Allianz launches life reinsurance sidecar Sconset Re
10th December 2024
Global insurer Allianz has established a new independent strategic reinsurance platform called Sconset Re Ltd., which will be capitalized through equity investments from high-quality institutional partners. Located in Bermuda, Sconset Re will specialise in assuming Fixed Indexed Annuity product risk and its asset management, and will aim to deliver more efficient ... Read the full article
New domiciles are impacting the landscape of the European captive insurance segment: AM Best
10th December 2024
New European captive domiciles are seeing growth in company formations, including redomicilations from other jurisdictions, according to AM Best. In a new report, the agency reveals that France is leading the way in terms of new captive formations in Europe in 2023 and 2024. In 2023, five new captive licences were ... Read the full article
CCRIF’s parametric insurance delivers record $85m in payouts after Hurricane Beryl
10th December 2024
The CCRIF issued a total of US$85 million in record time to governments and non-sovereign policyholders in the Caribbean impacted by Hurricane Beryl, marking the largest payout in the organisation's history, and underscoring its growing role in disaster risk financing across the region, Conor Meenan from the Centre for Disaster ... Read the full article
Envelop Risk completes three year capacity agreement with MS Reinsurance
10th December 2024
Data-driven cyber reinsurance and analytics specialist Envelop Risk has completed a capacity agreement with MS Reinsurance for a further three years, in addition to reaching the milestone of $1 billion gross written premium since its launch in 2018. At the same time, MS Reinsurance has become a client of Envelop’s new ... Read the full article
Arch Insurance appoints Rachida Laazaouzi as Senior Casualty Underwriter
10th December 2024
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has announced the appointment of Rachida Laazaouzi as Senior Casualty Underwriter for the French market. Based in Paris, Laazaouzi will focus on growing Arch’s casualty portfolio in France, writing primary, umbrella, and excess liability coverage across sectors such as industrial, manufacturing, ... Read the full article
PIC finalises £370m buy-in for Hays Pension Scheme
10th December 2024
Pension Insurance Corporation plc (PIC) has completed a £370 million buy-in for the Hays Pension Scheme, securing coverage for over 4,200 members and transferring all associated financial and demographic risks. Hays Group contributed approximately £13 million in upfront funding to support the transaction. With this buy-in, the Scheme’s liabilities are now ... Read the full article
Liberty Mutual Insurance places Arangio as EVP & Chief Compliance Officer as Morton retires
10th December 2024
Liberty Mutual Insurance has appointed Nicole Arangio as its new Executive Vice President (EVP) and Chief Compliance Officer, effective April 1st, 2025, with a transition over the next few months. Currently, Arangio serves as Chief Compliance Officer for Global Risk Solutions, the firm's global commercial and specialty international re/insurance operations. She ... Read the full article
Allianz lifts financial targets through 2027 after surpassing goals
10th December 2024
After exceeding its 2024 economic goals, Allianz has raised its financial targets for the 2024-2027 cycle, aiming for a property and casualty operating profit of approximately €9.5 billion by 2027, with a combined ratio of 92-93%. In its other segments, the company has anticipated a Life and Health operating profit of ... Read the full article
Aon names Ciaran Healy as Global Captive Leader for Commercial Risk Solutions
10th December 2024
Global insurance and reinsurance broker Aon has promoted Ciaran Healy to Global Captive Leader for Commercial Risk Solutions, effective January 1st, 2025, based in Dublin. The promotion of Healy sees John English take on the role of Chairman of Aon Global Risk Consulting (AGRC). In the new role, Healy will focus on ... Read the full article
AXA and HK Express launch new flight delay parametric protection product
10th December 2024
AXA Hong Kong and Macau (AXA) and HK Express, supported by AXA Partners, have launched new flight delay parametric protection for HK Express customers who purchase U-First. This makes HK Express the first airline in Asia to offer parametric delay benefits. Following their exclusive partnership earlier this year, AXA and ... Read the full article
AM Best affirms Singapore Re’s Credit Ratings with stable outlook
10th December 2024
AM Best has affirmed Singapore Reinsurance Corporation Limited’s (Singapore Re) Financial Strength Rating of A and Long-Term Issuer Credit Rating of “a”, with a stable outlook for these ratings. The ratings reflect Singapore Re’s balance sheet strength, which AM Best assesses as strong, adequate operating performance, limited business profile, and effective ... Read the full article
L&G posts £10bn in bulk annuity volumes for Institutional Retirement division
10th December 2024
Legal and General Plc (L&G) has revealed that its shares have climbed higher after the organisation posted an update on its Institutional Retirement division, which specialises in bulk annuities. The company has reaffirmed its solid outlook for the division, reporting bulk annuity volumes of £10 billion year to date, with exclusive ... Read the full article
Graham to lead DUAL NA’s EIURS as EVP, Frey named SVP of Professional Liability
9th December 2024
DUAL North America has announced two new underwriting leadership appointments in its casualty divisions, Andreas Graham as Executive Vice President of the EIURS team, a division of DUAL, and Ed Frey as Senior Vice President of Professional Liability. Leading the EIURS team at DUAL, Graham will head the middle market energy ... Read the full article
Davies to acquire Premier Claims Management to expand North American claims services
9th December 2024
Davies, a professional services and technology specialist, has announced its acquisition of Premier Claims Management, LLC (PCM), a claims service provider specialising in professional and general liability claims. Based in Santa Ana, California, PCM’s addition strengthens Davies’ North American (NA) services by expanding its professional and general liability claims capabilities and ... Read the full article
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