Reinsurance News
Paul Jones takes charge of Lockton UK’s specialised Parametrics Practice
7th June 2024
Insurance brokerage Lockton has appointed Paul Jones as the leader of Parametric Solutions for the UK & Europe in its Property & Casualty (P&C) Specialties division. Jones commented: “I am thrilled to be joining Lockton to develop its Parametric proposition to clients. It is a really exciting time to come on ... Read the full article
Emerald Bay teams with Arrowhead to launch commercial earthquake facility
6th June 2024
Emerald Bay Risk Solutions, the collaborative underwriting carrier, has entered into a strategic partnership with Arrowhead to launch a commercial earthquake facility named Arrowhead EQ DIC, that will provide difference in conditions (DIC) insurance policies for medium to large businesses. If you recall, Emerald Bay Risk Solutions launched in March ... Read the full article
Thompson appointed AUL CEO, Keith to lead Ascot Bermuda Limited
6th June 2024
Ascot, a Bermuda-based global specialty insurance company, has appointed Ian Thompson as Chief Executive Officer and Director of Ascot Underwriting Limited (AUL) and Justin Keith as President and Chief Executive Officer of Ascot Bermuda Limited. Thompson is taking over the London-based role from Jonathan Zaffino. As CEO and Director of AUL ... Read the full article
Final UK Solvency II rules ensure a more distinct regime with greater flexibility: KPMG
6th June 2024
Following the PRA's publication of PS10/24, the final set of rules for the UK version of Solvency II, Huw Evans, Head of Insurance at KPMG UK, has underlined several improvements that will reportedly work better for the UK than the original regime. According to Evans, the final set of rules are ... Read the full article
CFC launches upgraded cyber risk heat map focused on key exposures
6th June 2024
CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external trends observed by its incident response team, this user-friendly tool presents ... Read the full article
CNA Financial names Worman CEO, Robusto transitions to Exec Chairman
6th June 2024
Chicago-domiciled insurer, CNA Financial Corporation, has promoted Doug Worman, currently the Executive Vice President & Global Head of Underwriting to President and Chief Executive Officer (CEO), effective January 1, 2025. Simultaneously, Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman of CNA's Board of ... Read the full article
Andy Bord to step down as Flood Re’s CEO, Stuart Logue named interim
6th June 2024
Flood Re, the joint initiative between the UK Government and the insurance industry, has announced its Chief Executive Officer, Andy Bord, will step down at its Annual General Meeting (AGM) in July 2024. The Board has appointed Stuart Logue, the current Chief Financial Officer (CFO), as interim CEO effective from July ... Read the full article
Sirion’s Eigen Technologies acquisition to accelerate document AI capabilities
6th June 2024
Sirion, an AI-native contract lifecycle management (CLM) company, has acquired Eigen Technologies, a specialist in Document AI for insurance and financial services that has pioneered data extraction and AI governance. The company has been using artificial intelligence (AI) to unlock contract intelligence for a long time, its experience has made the ... Read the full article
Gallagher Specialty launches new carbon insurance solutions service
6th June 2024
Gallagher Specialty has launched a new carbon insurance solutions service for its clients which will reportedly enable them to mitigate risks associated with de-carbonisation initiatives. Gallagher Specialty observed that companies are now seeking to decarbonise amid regulatory and stakeholder pressure, with solutions such as carbon credits gaining traction. The purchase of carbon ... Read the full article
ABIR names Collin Anderson Director of Policy and Regulation
6th June 2024
The Association of Bermuda Insurers and Reinsurers (ABIR), which represents the public policy interests of Bermuda’s re/insurers, has announced the appointment of Collin Anderson as Director of Policy and Regulation, starting July 1. With 23 years of experience in both public and private sectors, Anderson has a robust background that includes ... Read the full article
MGA Nirvana renews MTC binding authority
6th June 2024
Specialty managing general agent (MGA) Nirvana has announced the renewal of its Media/Technology Errors & Omissions and Cyber (MTC) binding authority with an increased £10mn Media Liability line. It has also expanded authority in Technology and Cyber lines, including new coverage for the financial software industry. Additionally, Nirvana MTC has expanded SCOR’s ... Read the full article
Sixfold raises $15m in Series A round, confirms Lloyd’s Lab participation
6th June 2024
Insurtech Sixfold has raised $15 million in a Series A funding round led by Salesforce Ventures, in a move that is set to enable the company's expansion to the UK and Europe. The funding round also featured participation from Scale Venture Partners and all previous investors including Bessemer Venture Partners and Crystal ... Read the full article
Manhem appointed Independent Non-Exec Director of Apollo Syndicate
6th June 2024
Independent specialist re/insurer Apollo has appointed Monica Cramér Manhem as the new Independent Non-Executive Director of Apollo Syndicate Management Limited. Manhem is an industry veteran with extensive experience in various leading roles. Most recently, she served as the Chief Executive Officer of SiriusPoint International Insurance Corporation. Along with underwriting expertise, the firm ... Read the full article
Insurers’ private credit holdings set to keep growing, Moody’s
6th June 2024
Insurers are set to keep increasing their private credit holdings throughout the coming years, with almost 80% saying they plan to increase their holdings of at least one class of private credit over the long term, according to a recent analysis by Moody's. Private credit accounts for 36% of insurers' total investments ... Read the full article
NHS cyber attack underscores ongoing ransomware threat to healthcare sector
6th June 2024
Paul Gooch, Head of Large Account Cyber at Tokio Marine Kiln, has advised companies to adopt the mindset 'not if, but when' in their approach to cybersecurity, following the attack on hospitals in London targeting NHS IT firm Synnovis. Reinsurance News understands that the attacks have affected the Royal Brompton, Harefield, ... Read the full article
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