Reinsurance News
Allianz (AGCS) targets multinationals with new team & investments
14th July 2022
Allianz is aiming to expand its business from the global insurance program sector to serve more large multinational customers, and to this end has set up a new team within its international corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS). The move, which also includes dedicated investments in data and ... Read the full article
Horace Mann warns ahead of Q2 cat losses, lowers profit guidance
14th July 2022
Horace Mann Educators Corporation, an insurance and retirement solutions company for US educators and school employees, has warned that its results for the second quarter of the year will be impacted by higher than expected catastrophe losses. The company expects to book Q2 cat losses of between $44 million and $47 ... Read the full article
Aurenity partners with Origami Risk for underwriting tech platform
14th July 2022
Recently launched tech-enabled E&S MGA, Aurenity has selected Origami Risk as its technology partner to develop its core underwriting platform. Founded by leading underwriting executives and technology experts, Aurenity is building a cutting-edge underwriting ecosystem to deliver sophisticated pricing, speed-to-market adjustments, and best-in-class service. In addition, the tech-enabled MGA’s platform technologies will ... Read the full article
Thai Life Insurance raises $1 billion via IPO
14th July 2022
Thai Life Insurance Pcl raised $1 billion from an initial public offering, the largest share sale by a Thai firm in more than a year, according to reports from Bloomberg. It was recently reported that the insurer was targeting a capital raise of more than $1 billion. The Bangkok-based life insurer ... Read the full article
Stranded aircraft lessor brings $3.5bn lawsuit against AIG
14th July 2022
Aercap, the largest global aircraft leasing firm, has sued AIG and other insurers including Lloyd's business Atrium over planes stranded following the outbreak of conflict between Russia and Ukraine, according to reports from City A.M. The lawsuit follows a $3.5 billion all-risk claim filed in March over aircraft lost in Russia, ... Read the full article
Covéa CEO Thierry Derez named new Chairman of PartnerRe
14th July 2022
Following the acquisition of Bermuda-based PartnerRe by French mutual insurer Covéa, which completed yesterday, the reinsurer has announced a number of changes to its Board of Directors. This includes the appointment of Thierry Derez, Chief Executive Officer (CEO) of Covéa, as Chairman of the Board, replacing Brian Dowd, who will ... Read the full article
“Cyberattacks a great threat to infrastructure and assets” – Lloyd’s
14th July 2022
National infrastructure and privately owned assets are at risk of from significant physical damage resulting from cyberattacks, says a new report from Lloyd’s. As a result, Lloyd’s says that as malicious attacks increase in frequency, cyber represents a key opportunity for insurers to support businesses and societies through the products and ... Read the full article
Aon makes three appointments for UK M&A and Transaction Solutions team
14th July 2022
Leading global professional services firm, Aon plc has made three appointments for its M&A and Transaction Solutions team in the UK. Sam Bridges joins the firm’s Corporate M&A Coverage team as Director and brings more than 20 years of experience as an investment banking professional at J. P. Morgan. At the same ... Read the full article
United (UPC Insurance) exploring sale, merger, and other options
14th July 2022
The Board of property and casualty insurer, United Insurance Holdings Corp. (UPC Insurance), is undertaking a review of the firm's strategic and capital raising alternatives, which could lead to a sale or merger. According to UPC Insurance, the Board has now initiated the review and will explore a wide range of ... Read the full article
Noldor raises $10 million in first funding round
14th July 2022
Noldor, an insurtech, recently closed on a $10 million seed funding round from a group of well-established insurance investors. The funding round was led by the DESCOvery group at DE Shaw, a global investment and technology development firm based in New York City with participation from several other strategic investors. CEO John ... Read the full article
“2022 could erode insurer capital in the same way as 2020 did” – S&P
13th July 2022
The economic fallout from Russia’s invasion of Ukraine and the energy crisis that the world is facing looks as likely to erode insurers’ capital in 2022 as the Covid-19 pandemic did in 2020. That is according to new research by S&P Global Ratings, which has published EMEA Insurance Mid-Year Outlook 2022: ... Read the full article
UIB names David Waller as Divisional Director – Marine
13th July 2022
International re/insurance broker UIB has announced the appointment of David Waller as Divisional Director within its Marine Division. Waller has over 15 years of experience as a Marine insurance broker working with complex and difficult risks in cargo and stock throughput from a global portfolio, with skills in managing key market ... Read the full article
Specialty Program Group acquires ESP Insurance Brokerage
13th July 2022
Specialty Program Group, a specialty insurance brokerage, has acquired ESP Insurance Brokerage, a national insurance broker and program administrator for the sports, events and promotion marketing and entertainment industries. ESP offers US-wide coverage solutions, including athletic insurance for teams and leagues, tournaments, insurance for entertainment, leisure and sports facilities, event liability ... Read the full article
GCube promotes Josh Shimali and hires Olly Litterick
13th July 2022
GCube has appointed two people to senior positions within the organisation as part of its move to strengthen the company’s strategy. Josh Shimali, who has been with the business for over a decade, has been promoted to Head of Onshore Underwriting. He will take responsibility for planning and delivering on GCube’s overall ... Read the full article
At-Bay adds two to Board of Directors
13th July 2022
Cyber insurance provider At-Bay has appointed two insurance industry veterans to its Board of Directors. Joining the Board are Scott Carmilani and David Lockton. With nearly six decades of experience between them, both Carmilani and Lockton bring a strong track record of innovation and insurance expertise to At-Bay’s board. Carmilani currently serves as ... Read the full article