Reinsurance News
SEADRIF adds industry veteran Su Hoong Chang to its Board
5th July 2024
SEADRIF Insurance Company has appointed Su Hoong Chang as Board Director, effective June 20, 2024. Based in Singapore, Chang has over three decades of experience across the sector, bringing a deep degree of expertise and insights from her previous work with regulatory bodies, international financial institutions, and national authorities. In her most ... Read the full article
Insurance industry supports EU taxonomy law but believes more changes are needed: Insurance Europe
5th July 2024
Insurance industry supports EU taxonomy law but believes changes are needed to fulfil its green potential, at the same time, it has raised concerns regarding the current reporting demands for underwriting and investment. Insurance Europe and the European Insurance CFO Forum have reiterated their support for the EU’s Taxonomy Regulation in ... Read the full article
Specialty MGA UK bolsters its property, financial lines and cyber teams with senior hires
5th July 2024
Managing general agent (MGA) Specialty MGA UK has expanded its international property, financial lines and cyber teams with the appointment of Luke Bristow, Tony Loizides and Lisa Rowe as Senior Underwriters. Manoj Kumar, Chairman, MNK Group, commented on the appointments, "Luke, Tony and Lisa have a huge amount of experience and ... Read the full article
FERMA President outlines plans to advance European risk management
5th July 2024
Charlotte Hedemark, President of The Federation of European Risk Management Associations (FERMA), outlined plans to advance its strategic priorities: expanding its advocacy capacity, establishing leadership and emphasising value, and becoming a more agile and dynamic federation. During the firm’s General Assembly, Hedemark stated, “FERMA will continue to amplify the role of ... Read the full article
DWF strengthens insurance claims management & adjusting team with senior hires
5th July 2024
DWF, a provider of combined legal and business services, has enhanced its global Claims Management & Adjusting (CMA) division by appointing Darren Goldman as Head of North America and Antonio Herrera Sancho as Claims Director in Spain. Goldman said: "I am excited to lead the talented CMA team as the regional ... Read the full article
UAE floods drive challenging and late mid-year renewals in the Middle East: Gallagher Re
4th July 2024
While most property reinsurance placements were completed either early or on time, renewals in the Middle East were challenging and late, says reinsurance broker Gallagher Re. According to Gallagher Re's recent mid-year renewals report, this was mainly due to uncertainty around loss estimates for the recent floods in the United Arab ... Read the full article
Active cyber insurance vital for effective risk management: Motta, Coalition
4th July 2024
Joshua Motta, Founder and CEO of Coalition, advocates for the necessity of active cyber insurance due to the shortcomings of traditional approaches, highlighted by erratic rate fluctuations and the inadequate readiness of organisations facing escalating cyber risks. Speaking at the Marsh McLennan Rising Professionals’ Forum, Motta pointed to the volatile rate ... Read the full article
$7.7bn in losses from extreme heat in California: Commissioner Lara
4th July 2024
Insurance Commissioner Ricardo Lara has released a comprehensive report revealing $7.7 billion in losses from extreme heat events in California, highlighting the urgent need for adaptive strategies to address this growing threat. Commissioner Lara stated, “Extreme heat is a silent, escalating disaster that threatens our health, economy, and way of life ... Read the full article
Utmost Group to acquire Lombard International Assurance Holdings
4th July 2024
Utmost Group plc has agreed to acquire Lombard International Assurance Holdings Sarl, subject to regulatory approvals. The acquisition, expected to be completed by the end of 2024, encompasses Lombard’s European business, as Lombard International will become a part of Utmost International, the international life assurance business of Utmost Group. This acquisition ... Read the full article
EU “Goldilocks environment” to keep risks low, M&A a potential challenge: Berenberg
4th July 2024
The current “Goldilocks environment”, a macro environment of moderate growth, moderate inflation and moderate interest rates according to Berenberg, will allow insurers in the European Union (EU) to deliver on their strategic plan targets. Berenberg analysts arrived at this conclusion following the publishing of the Financial Stability Report by EIOPA, the ... Read the full article
SRG announces acquisition of political violence specialist, Tristar Special Risks
4th July 2024
Specialist Risk Group (SRG), the insurance intermediary, has announced its acquisition of Tristar Special Risks, the political violence specialist. For those who are not aware, Tristar Special Risks has a deep degree of expertise in terrorism insurance and supports broker partners across the UK through its coverage for all types of commercial ... Read the full article
Wind energy producers and insurers need to monitor changing climate: Swiss Re
4th July 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist, Swiss Re, states: "The intensity of storms is anticipated to increase, with stronger gusts and more ... Read the full article
Helios names AEGIS’ Chambers as Independent Non-Exec Director
4th July 2024
Lloyd’s focused investment vehicle Helios Underwriting has appointed John Chambers, former AEGIS executive, to its Board as an Independent Non-Executive Director. He brings considerable experience across all aspects of running a regulated insurer, from business planning through underwriting management to risk management, as well as financial and regulatory reporting. Prior to his ... Read the full article
Brokerslink launches Trade Credit Insurance practice to meet growing global demand
4th July 2024
Brokerslink, a network of independent brokers, has introduced a specialised Trade Credit Insurance (TCI) practice to meet the rising demand from its international affiliates. This new TCI practice will give Brokerslink’s Partners and Affiliates access to a shared pool of expertise in the Trade Credit sector, allowing brokers to enhance their ... Read the full article
Schroders Capital teams with Hannover Re on tokenised ILS pilot
4th July 2024
Schroders Capital, the private markets business of Schroders Group, has collaborated with global reinsurer Hannover Re on a pilot tokenisation project, designed to enhance the way insurance-linked securities (ILS) investments are invested and managed. It's important to address, that this pilot further builds on Schroders Group’s commitment to innovation in digital assets, ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
