Reinsurance News
Swiss Re CorSo names Desplanches as IDI Global Leader
19th July 2022
Swiss Re Corporate Solutions has appointed Emmanuel Desplanches to the role of Inherent Defect Insurance (IDI) Global Leader, effective 1 July 2022. In this newly created position, he will be responsible for promoting Swiss Re Corporate Solutions' IDI proposition and building up its capability in various regions. He takes on this role ... Read the full article
GRS hires TransRe’s Geary as President, Insurance Solutions
19th July 2022
Liberty Mutual Insurance's Global Risk Solutions (GRS) has appointed Elizabeth Geary as President, Insurance Solutions, where she will report to GRS President of Underwriting - Matthew Moore. Her appointment comes into effect in late August. She joins Liberty Mutual from global reinsurer, TransRe, where she served in a dual role as President, ... Read the full article
Core Specialty adds three underwriters to E&S primary product liability line
19th July 2022
Core Specialty and its subsidiaries have appointed three underwriters as the company expands its excess & surplus (E&S) primary product liability line. Joining the team are Guy Harris, AVP Underwriter, Jason Rockel, Lead Underwriter, and Matt Madar, Senior Underwriter. Harris, Rockel and Madar were all most recently with AmTrust E&S Insurance Services. ... Read the full article
Charles Taylor appoints Tsuyoshi Sharyo to lead P&C
19th July 2022
Charles Taylor Adjusting, a global loss adjusting business, has announced the appointment of Tsuyoshi Sharyo as Assistant Director of its expanding Property & Casualty offering in Japan. Sharyo-San has more than 30 years of experience in claims handling for a number of leading insurance companies in Japan. He ... Read the full article
Renaissance Alliance promotes Bob Bondi to CEO
19th July 2022
Renaissance Alliance, a membership network that serves independent property & casualty insurance agencies, has announced the promotion of Bob Bondi to CEO from his current role as President and COO. Outgoing CEO Kevin Callahan said:, "It has been an honour to lead Renaissance. I've had a professional relationship with Bob ... Read the full article
FutureProof hires Joe Strickland as Head of Underwriting
19th July 2022
FutureProof, a climate-smart property & casualty (P&C) insurtech, has appointed Joseph Strickland as Head of Underwriting. He joins from AIG’s Lexington Specialty Insurance Agency where he served as Senior Vice President for Wholesale Property. Within that role he led regional property teams across the US. “Joe’s unique combination of Florida knowledge, deep ... Read the full article
Generali GC&C partners with Previsico on flood resilience
19th July 2022
Generali Global Corporate & Commercial (GC&C) has partnered with Previsico, a live flood alert insurtech company to “significantly” enhance UK clients’ flood emergency response readiness. Generali GC&C aims to broaden its own insurance coverage capabilities using Previsico’s technical expertise and warning solutions which provide live, actionable surface water flood warnings not ... Read the full article
Demotech approved as Nationally Recognized Statistical Rating Organization by SEC
19th July 2022
Rating agency and financial analysis firm Demotech, Inc. has now been approved as a Nationally Recognized Statistical Rating Organization (NRSRO) by the United States Securities and Exchange Commission (SEC). The approval came on July 12th and now the recognition by the SEC now positions Demotech alongside the other main financial services ... Read the full article
TransRe promotes Moser to President, Global Portfolio Management
19th July 2022
Alleghany Corporation's wholly owned reinsurance subsidiary, TransRe, has promoted Lisa Moser to President, Global Portfolio Management. Moser joined the company in 2004 as a property underwriter and has held roles of increasing responsibility. In her most recent role as the firm's first Global Property Management leader, she worked to optimise TransRe's property ... Read the full article
UK pensions insurance deals to rise more than 25% in 2022: Hymans Robertson
19th July 2022
According to Hymans Robertson, Britain is likely to see around £35 billion in pensions buy-in and buy-out deals in 2022, up more than 25% from the 2021 volumes of £27.7 billion. The company’s latest survey of the insurance companies who offer pensions scheme buy-ins showed that buy-in and buy-out market volumes ... Read the full article
R&Q changes name, but fails on shareholder approval for capital raises
19th July 2022
At its recent annual general meeting, shareholders of R&Q approved a resolution to change its name from Randall & Quilter Investment Holdings Ltd. to a new shorter name of R&Q Insurance Holdings Ltd. The new name suggests a more focused mission and one that is really more aligned with where the ... Read the full article
Inland marine DPW and loss ratio return to pre-pandemic levels – AM Best
19th July 2022
The US inland marine line is rebounding from pandemic obstacles, according to AM Best’s new market segment report. This, the company finds, is due to a strong increase in top line premium and a decline in the loss ratio. The property insurance market for inland marine insurance, ... Read the full article
Hourly.io appoints Markel’s Jerico Vinsonhaler as Head of Underwriting
19th July 2022
Fast-growing insurtech start-up, Hourly.io has appoint former Markel executive Jerico Vinsonhaler to serve as Head of Underwriting. Within this role, Vinsonhaler will oversee Hourly's overall underwriting strategy, portfolio management, as well as manage its underwriting team. Vinsonhaler spent 20 years at Markel, where she led the firms underwriting strategy. Prior to Markel, she ... Read the full article
Crypto crash may push re/insurers to add new exclusions
18th July 2022
The cryptocurrency price crash could accelerate the process of insurers rewriting policies to reduce potential exposure, according to the law firm RPC. The company says insurers are likely to review or amend policy wordings to ensure they are not indirectly insuring losses arising from the activity of clients ... Read the full article
Progressive H1 2022 results impacted by investment losses
18th July 2022
Property and auto-focused insurance group, The Progressive Corporation, has seen a significant dent in its H1 2022 results due to investments losses and the writedown of ARX Holdings impacting the property segment. Progressive’s total net unrealized losses on fixed-maturity securities year-to-date was $2,249.7 million, compared to the $448.5 million reported in ... Read the full article