Reinsurance News
Inflation, not rates, driving property premium pain – WTW
23rd June 2022
WTW's Insurance Marketplace Realities Spring Update reports that property insurance premiums will continue to rise throughout 2022, but these increases will mostly be driven by inflation raising insurable values, as opposed to rate increases. Double-digit rate increases are however likely for challenged occupancies such as forest products, metals, waste management, food ... Read the full article
Markel Intl. appoints Schreiner as senior underwriter for M&E liability
23rd June 2022
Markel International – a subsidiary of Markel Corporation, has appointed Jeannie Schreiner as a senior underwriter for marine and energy (M&E) liability, where she will report Louise Foley, senior underwriter and head of M&E liability at Markel International. Within this new role, Schreiner will be based in the M&E team, where she ... Read the full article
Lockton Re names Kathy McCann as Senior Broker
23rd June 2022
Global insurance broker Lockton's dedicated reinsurance division, Lockton Re, has announced that Kathy McCann has joined the company as a Senior Broker. Within this role, she will support client development, and have a focus particularly on property business across various segments including Retrocession. McCann joins from Guy Carpenter where she most recently ... Read the full article
Omaha appoints Bryan Connolly Chief Operating Officer
23rd June 2022
Omaha National has appointed Bryan Connolly as Chief Operating Officer. Connolly, who co-founded Omaha National in 2016, previously served as Chief Financial Officer. Reagan Pufall, Omaha National President and CEO, said: "As CFO, Bryan led vital initiatives like the authorization of Omaha National Insurance Company, establishing our reinsurance program, creating ... Read the full article
Tim Spencer of Prima XL on the future role of reinsurtech
23rd June 2022
Digitisation has been a buzzword across multiple sectors and industries in recent years as an increasingly online and mobile-connected world population has come to expect their insurers in turn to fully embrace the revolution of a hyper-connected world. And where the insurers go, the reinsurers will be expected to follow. And, ... Read the full article
Marsh McLennan makes senior marketing & staff appointments
23rd June 2022
Marsh McLennan has announced the appointments of John Jones as Chief Marketing and Communications Officer and Pat Hagemann as Office of the COO Chief of Staff. Both appointments will report to John Doyle, Group President and Chief Operating Officer of Marsh McLennan, and are effective July 1. Jones will lead Marsh McLennan’s ... Read the full article
US lightning claims continue downward trend, falling 15 percent between 2020 and 2021
23rd June 2022
More than $1 billion in lightning-caused US homeowners insurance claims were paid out in 2021, according to the Insurance Information Institute (the Triple-I). The sum was paid to 60,000-plus policyholders, with 40 percent of that figure ($523 million) attributable to California alone. Florida - the state with the most thunderstorms - remained ... Read the full article
Generali makes structural and personnel changes
23rd June 2022
Assicurazioni Generali, one of the ten largest global insurance providers, has recently made several structural and personnel changes. The Board of Directors, at a meeting chaired by Andrea Sironi, has approved a new organisational structure, as proposed by the Group CEO, Philippe Donnet. The company says ... Read the full article
Gallagher Re names Head of Belgium branch
23rd June 2022
Philippe De Longueville is set to join reinsurance broker Gallagher Re’s EMEA West South team as Head of the company’s Belgium branch. Gallagher Re posted a tweeted earlier today confirming the appointment. The tweet said: “Delighted to announce that Philippe De Longueville will join our EMEA West South team as Head of ... Read the full article
WTW appoints two Global Client Advocates
23rd June 2022
Advisory and broking solutions company, WTW has announced the appointments of Elizabeth Carabas and Jennifer Wheeler as Global Client Advocates. Carabas joins WTW as a Global Client Advocate within the Technology, Media, and Telecommunications practice. She has more than 20 years of brokerage experience in Silicon Valley, and with her deep knowledge ... Read the full article
Consilium appoints James Baird in senior leadership role
23rd June 2022
Consilium, an international re/insurance broker and part of the Aventum Group, has announced that James Baird is joining the company in a senior leadership position. Baird joins the company from Ardonagh-owned Ed Broking, where he was Director of its Strategic Risk Group. Within his new role at Consilium, Baird will work alongside ... Read the full article
Howden Group hires Tom Hoad in new role
23rd June 2022
Howden Group has hired Tom Hoad to help it establish an end-to-end platform that accelerates the launch and growth of insurance start-ups. The firm said in a statement that Hoad will join the Group to lead this initiative. He will bring together expertise and resources from across both Howden and DUAL ... Read the full article
Everest Re appoints Brent Hoffman to triple-pronged role
23rd June 2022
Everest Reinsurance has appointed Brent Hoffman as senior vice president, head of claims, and COO, joining the firm at the end of July. Hoffman will have dual responsibility for overseeing key aspects of business operations and leading the global reinsurance claims function. He will report directly to Jim Williamson, chief operating ... Read the full article
Legal & General completes £21m pension buy-in with Barnett & Hall
23rd June 2022
Legal & General Assurance Society Limited has completed a £21 million full-scheme buy-in with Barnett & Hall Holdings Pension Scheme. The deal secures benefits for around 110 pension scheme members, of which 105 are non-pensioner members. BHH Limited is a subsidiary of W&R Barnett Limited, which is a fourth-generation family business established ... Read the full article
Nexus Underwriting establishes new financial lines division
23rd June 2022
Independent specialty MGA Nexus Underwriting has announced the formation of a new financial lines division, called Nexus Frontier. Frontier is a new financial lines MGA structure for Nexus, where fronted insurance arrangements will be housed in the new division. Nexus will be utilising Accredited Insurance (Europe) Limited as its fronting partner, supported ... Read the full article