Reinsurance News
Direct Line Group appoints Maz Bown as new Group Chief Risk Officer
25th June 2024
UK-based insurer Direct Line Group (DLG) has recently announced the appointment of Maz Bown to the position of Chief Risk Officer. Her appointment will take effect at the end of 2024, further strengthening DLG’s new management team. In her new role, Bown will oversee the management and control of key risks across ... Read the full article
AM Best affirms Hadron’s credit ratings and upgrades Folgate’s financial strength rating
25th June 2024
AM Best has removed from under review with positive implications and upgraded the credit ratings of Folgate Insurance Company Limited, an US and international hybrid fronting carrier, and affirmed Hadron Specialty Insurance Company’s credit ratings. Folgate’s Financial Strength Rating (FSR) was upgraded to A- (Excellent) from B (Fair) and the Long-Term ... Read the full article
Tia Wilson joins WTW’s Corporate Risk and Broking leadership team
24th June 2024
WTW, a global advisory, broking, and solutions firm, has recently announced the appointment of Tia Wilson as Deputy Regional Leader and Global Client Advocate within Corporate Risk and Broking, North America (CRB NA). As Deputy Regional Leader overseeing the Greater Philadelphia Area, Wilson’s primary focus is accelerating profitable growth in collaboration ... Read the full article
BCIC launches the Caribbean’s first omnichannel insurance on EIS SaaS Platform
24th June 2024
Caribbean general insurer, British Caribbean Insurance Company (BCIC) has launched its omnichannel insurance ecosystem built on the San Francisco-domiciled, EIS cloud-native SaaS platform and implemented by EY. The EIS SaaS platform aims to accelerate speed to market and drive efficiency. The multi-phased roll-out begins in Barbados with plans to expand to ... Read the full article
Ambac launches Tara Hill for E&S liability coverage, led by Peter McKeegan
24th June 2024
Ambac Financial Group (Ambac) has partnered with former Core Specialty Senior Vice President Peter McKeegan to launch a new program administrator, Tara Hill Insurance Services. McKeegan will serve as Tara Hill’s Chief Executive Officer, reporting directly to Naveen Anand, President of Cirrata Group, Ambac’s distribution division. As part of the Cirrata Group, ... Read the full article
Munich Re’s HSB & WINT team up to provide holistic water protection
24th June 2024
HSB, a multi-line specialty insurer and part of reinsurance giant Munich Re, and WINT Water Intelligence, a provider of water management and leak-prevention solutions, have entered into a partnership to deliver holistic water protection. The partnership between the two firms combines WINT's AI-based water management solutions with HSB's expertise in internet ... Read the full article
FloodFlash expands coverage to all mainland US locations
24th June 2024
FloodFlash, the parametric flood insurance provider with sensor technology, has expanded its coverage to all mainland US locations. The company is known for offering flood insurance that exceeds the National Flood Insurance Programme (NFIP) in areas where private markets cannot provide quotes, especially in sectors like real estate, sports and entertainment, ... Read the full article
Vantage appoints Todd Link as Chief Financial Officer
24th June 2024
Vantage Group Holdings, a specialty insurer and reinsurer, has announced the appointment of Todd Link as Chief Financial Officer (CFO), effective immediately. In his new role, Link will oversee all aspects of Vantage's financial operations, including accounting, financial planning and analysis, and investments. He will be joining the group's leadership team and ... Read the full article
Gallagher Re launches Cyber Academy to attract and develop talent
24th June 2024
Global reinsurance broker, Gallagher Re, has launched its flagship Cyber Academy, designed to attract and nurture promising individuals in the cyber space, providing them with comprehensive and bespoke training in broking, analytics, and cyber security. The Gallagher Re Cyber Academy will offer delegates the opportunity to receive best-in-class training while gaining ... Read the full article
Claims paid for Japan’s New Year’s Day earthquake & Hyogo hailstorm rise: GIAJ
24th June 2024
The General Insurance Association of Japan (GIAJ) has released updated insurance claims data for the Noto Peninsula Earthquake on January 1, 2024, and the hailstorm in Hyogo Prefecture on April 16 this year. On March 22, we reported that more than JPY 61 billion ($414 million as of March 8th ... Read the full article
Contship Containerlines agrees £25m full scheme buy-in with L&G
24th June 2024
The Trustees of the Contship Containerlines Limited 1979 Pension Scheme have agreed to a c. £25 million full scheme buy-in with L&G, meaning that the benefits for all the scheme’s members are now insured. The transaction was agreed in June of 2024 and covers c. 150 members. Barnett Waddingham reportedly acted ... Read the full article
LMA announces the appointment of four new Board members
24th June 2024
Four senior market leaders have been appointed to the Lloyd’s Market Association (LMA) Board: Richard Milner, Group Chief Executive Officer, Chaucer, Clare Constable, Chief Claims Officer, MS Amlin, John Fowle, Chief Executive Officer, Atrium and Adam Beatty, Chief Executive Officer, Nephila Syndicate. Made up of senior market practitioners and LMA leaders, ... Read the full article
Shifting property market leads to rise in use of facultative reinsurance, Amwins
24th June 2024
A recent analysis by Amwins has highlighted how the property insurance market is undergoing continuous changes, which is gradually leading to a considerable rise in the use of facultative reinsurance. According to the firm, trends in facultative reinsurance are following those in the excess and surplus (E&S) market, with market softening ... Read the full article
Hayley Spink to join Chaucer as Group COO
24th June 2024
Global specialty (re)insurance group Chaucer has appointed Hayley Spink as Group Chief Operating Officer. Spink will reportedly join Chaucer in Q4, coming from Apollo Syndicate 1969 where she currently serves as Chief Operating Officer. Overall, Spink holds 20 years of London Market experience, including senior leadership roles at Lloyd’s. In the new ... Read the full article
Marco to acquire Inceptum from R&Q, as R&Q confirms entry into liquidation
24th June 2024
R&Q Insurance Holdings Ltd has entered into an agreement to sell Inceptum Insurance Company Limited, a UK domiciled, legacy general insurance company, regulated by the PRA and FCA, to Marco Capital Holdings Limited, a Malta-based legacy acquisition group, for $11.25 million, subject to regulatory approval. The agreement represents the sale of ... Read the full article
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