Reinsurance News
Applied Underwriters Aerospace expands leadership amid market shifts
17th October 2024
Applied Underwriters Aerospace, a division of Applied Underwriters specialising in insurance and risk management for the aerospace and space exploration industries, has expanded its role as the space insurance market experiences significant changes. These shifts, driven by geopolitical factors and technological innovations like those introduced by Elon Musk, position the company ... Read the full article
Rising uncertainty drives demand for re/insurance in Europe: Swiss Re
16th October 2024
Demand for re/insurance is up as the world experiences increasing uncertainty, and this volatile environment and elevated risk landscape creates both challenges and opportunities for insurers and reinsurers in Europe, said Swiss Re’s Leopoldo Camara ahead of this year's Baden-Baden. The current uncertain environment increases the need for dependable risk assessment, ... Read the full article
Miller names Clare Lebecq as Chief Operating Officer
16th October 2024
Independent specialist insurance and reinsurance broker Miller has announced the appointment of Clare Lebecq as Chief Operating Officer, effective 2 December, 2024. In her new role, Lebecq will leverage her extensive experience in both retail and wholesale markets to support Miller's expanding operational capabilities. James Hands, CEO of Miller, stated, “As we ... Read the full article
AXA Climate renews parametric partnership with AXA México for mangroves protection
16th October 2024
AXA Climate, an arm of the global insurance group AXA, has renewed its partnership with AXA México and ClimateSeed this year to continue supporting a vital mangrove protection project. This collaboration aims to provide a parametric insurance product designed to safeguard both the community of fishermen and the vital ecosystems in ... Read the full article
MS Amlin enhances fraud detection capabilities through Synectics partnership
16th October 2024
The European unit of MS Amlin has expanded its partnership with data insight specialist Synectics in a strategic move that will enhance fraud detection and prevention measures at the quote, policy, and claims stages, across multiple lines of business. The MS Amlin unit, MS Amlin Insurance, which has previously worked with ... Read the full article
Marc Van der Veer named Optio Group MD, Europe
16th October 2024
Optio Group, a specialty managing general agent (MGA) has announced the appointment of Marc Van der Veer to the newly created role of managing director, Europe, effective immediately. In his newly assumed position, Van der Veer will be tasked with the responsibility of initiating and coordinating further acquisitions throughout Europe, aligning ... Read the full article
MS Amlin’s Phoenix sidecar a stable investment opportunity: William Ho
16th October 2024
Chief Executive Officer (CEO) of MS Amlin Asia Pacific, William Ho, in a recent video interview with our insurance-linked securities (ILS) focused sister publication, Artemis, discussed the re/insurer's series of Phoenix sidecar transactions. After renewing a quota share arrangement via reinsurance sidecar vehicle Phoenix 2 Re Pte. Ltd., ... Read the full article
DeNexus raises $17.5m in Series A funding, with backing from AXA XL
16th October 2024
DeNexus, a provider of cyber risk modelling solutions, has raised $17.5 million in a Series A funding round led by Punja Global Ventures with participation from AXA XL, Prosegur/SegTech and HCS Capital. From what Reinsurance News understands, DeNexus will use the funding to boost its growth and expand its product offerings ... Read the full article
McLarens names Alistair Jacob Head of London International
16th October 2024
McLarens, a claims services provider, has appointed Alistair Jacob to the newly established position of Head of London International. Based in the Lime Street office in the City of London, Jacob will report to Steven Wallace, Managing Director for EMEA, and will focus on enhancing McLarens’ presence in the Lloyd’s and ... Read the full article
Climate-related disclosure data can help reveal insurers’ business-critical risk insights: Quiroga, Swiss Re
16th October 2024
Insurance and reinsurance companies can use climate-related disclosure data to reveal business-critical risk insights, point to growth opportunities and lift the quality of their underwriting, according to Swiss Re’s Paloma Quiroga. In a recent interview with Reinsurance News, Quiroga, Head Risk Consulting & Analytics explained that insurers face an array of ... Read the full article
Insured nat cat losses reach $108bn in first 9 months of 2024: Gallagher Re
16th October 2024
In the first 9 months of 2024, losses covered by the private insurance market or public insurance entities totalled at least $108 billion, 5% higher than the decadal average of $102 billion, driven by a higher frequency of low/mid-size events, especially in parts of the world with higher coverage, a ... Read the full article
Verisk estimates Milton’s insured losses to range between $30bn – $50bn
16th October 2024
According to the Extreme Event Solutions group at Verisk, insured industry losses to onshore property for Hurricane Milton will range between $30 billion and $50 billion. The firm explained that this estimate includes losses due to wind, privately insured estimates of storm surge, and privately insured precipitation induced flood losses resulting ... Read the full article
Embroker collaborates with Everspan to digitise insurance through Embroker’s ONE platform
16th October 2024
Digital insurance company Embroker has partnered with Everspan, the specialty property and casualty insurer, in a move that is expected to further enhance the digital insurance experience. Through this strategic partnership, Everspan now underwrites new coverage programs on Embroker's ONE platform, which includes their newly released packages for accountants, bookkeepers, tax preparers, ... Read the full article
LM Re appoints Cara Sweeney as Specialty Casualty Underwriting Manager
16th October 2024
Liberty Mutual Reinsurance (LM Re), the reinsurance arm of Liberty Mutual, has appointed Cara Sweeney as Specialty Casualty Underwriting Manager, based in Stamford. In her new role, Sweeney's responsibilities includes oversight of the underwriting strategy and performance of LM Re’s US Specialty Casualty portfolio. She will report to Chantal Rodriguez, Chief ... Read the full article
Ascend & QuoteWell partner to simplify non-admitted markets’ quoting process
16th October 2024
Ascend, a comprehensive accounting operations platform for insurance, has partnered with QuoteWell, a commercial insurance managing general agent (MGA) and wholesale brokerage, to modernise MGA accounting and workflows. This partnership aims to seamlessly integrate QuoteWell's innovative technology-driven submission and quote process with Ascend's automated payments and financing tools. Together, the two companies ... Read the full article
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