Reinsurance News
SiriusPoint announces security program partnership with MGU Euclid Security
28th June 2024
Global specialty re/insurer SiriusPoint has announced it has become the sole carrier partner for Euclid Security’s Liability program. The company is a boutique managing general underwriter (MGU) specialising in security industry risks. Its Liability program covers security services, alarm services, and fire suppression protection. Through the program, Euclid Security will underwrite Commercial ... Read the full article
IAG reduces earnings volatility with long-term reinsurance agreements
28th June 2024
IAG has purchased reinsurance protection to mitigate natural perils volatility for the next five years, alongside securing adverse development cover for its long-tail reserves from Enstar. IAG has entered into a comprehensive five-year natural perils reinsurance agreement starting from July 2024 with National Indemnity Company, a subsidiary of Berkshire Hathaway Inc ... Read the full article
AXIS expands partnership with Elpha Secure to enhance cyber portfolio
28th June 2024
AXIS Capital Holdings Limited has expanded its partnership with Elpha Secure, which initially commenced in 2021, when AXIS became both an investor in and a capacity provider for the company. Lori Bailey, Head of Global Cyber & Technology at AXIS, commented, “In extending our partnership with Elpha Secure, we are ... Read the full article
R&Q announces joint provisional liquidators
28th June 2024
On June 26th, R&Q Insurance Holdings Ltd announced significant developments, including the appointment of joint provisional liquidators (JPLs), the resignation of its Nominated Adviser, and the likely delisting of its shares. R&Q has confirmed that at a hearing yesterday, Michael Morrison, Mark Allitt, and Charles Thresh of Teneo (Bermuda) Limited were ... Read the full article
DUAL Benelux names Aram Stoop as new Managing Director
28th June 2024
DUAL Benelux, a division of the international insurance underwriting firm DUAL Europe, has named Aram Stoop as its new Managing Director. Reporting to Olaf Jonda, CEO of DUAL Europe, Stoop steps into the position previously held by Peter Kegel, who founded DUAL Benelux in 2023 and has since left the company. Olaf ... Read the full article
Gallagher Re appoints Richard Rudden as Head of Green Solutions
28th June 2024
Reinsurance broker Gallagher Re has announced the appointment of Richard Rudden to the newly created role of Head of Green Solutions. This position aims to develop insurance and reinsurance solutions to support clients in their energy transition efforts. Reporting directly to Nick Croxford, Head of Marine, Energy & Aviation at Gallagher Re, ... Read the full article
Important to develop future leaders in evolving re/insurance industry: Marsh McLennan
28th June 2024
The insurance and reinsurance industry has a pivotal role to play in developing its future leaders to meet the unique demands and challenges presented by today’s increasingly complex global environment, as highlighted at the Marsh McLennan Rising Professionals’ Global Forum. John Doyle, President and CEO of Marsh McLennan, underscored the growing ... Read the full article
WTW broadens Financial Institutions team capabilities with three new hires
28th June 2024
WTW has announced the appointment of three new hires within the Financial Institutions and Professional Services industry division, which is part of Corporate Risk and Broking, North America (CRB NA), Heather Mann, Larry Trombino, and Jeanette Younger. With the addition of these new executives, who bring deep expertise within broker-dealers and ... Read the full article
Perr&Knight launches Risk Strategies & Solutions practice area
28th June 2024
Consulting firm Perr&Knight has launched its newest Risk Strategies & Solutions practice area, which is set to help clients turn unique concepts into practical and compliant insurance programs. The company's new practice is reportedly dedicated to assisting clients who may possibly lack some or all the technical insurance frameworks necessary to bring ... Read the full article
Property insurance market is becoming increasingly buyer-friendly: Lockton
27th June 2024
The property insurance market is becoming more buyer-friendly, with increasing competition among commercial insurers helping to create stability and more predictable renewal outcomes for US insurance buyers, according to Lockton’s latest Market Update. Mark Moitoso, Risk Practices Leader at Lockton, commented, “Three months ago, we anticipated a shift in the P&C ... Read the full article
NEAM promotes Kasha Mleko to Head of Sustainability, Europe
27th June 2024
New England Asset Management Limited (NEAM), a provider of investment advisory services primarily to re/insurance companies, has promoted Kasha Mleko to Head of Sustainability, Europe. Mleko joined NEAM in 2010 and has held roles in Marketing and New Business Development since then. Graham Kirk, Managing Director, NEAM Limited, commented, "Kasha’s experience and ... Read the full article
Competitive reinsurance marketplace observed at mid-year renewals, landscape remains dynamic, Aon
27th June 2024
Global re/insurance broker Aon has reported that insurers generally achieved positive mid-year renewal outcomes, which included rate reductions for property catastrophe risk and improvements in terms and coverage. However, the broker notes, that while a "more competitive reinsurance marketplace was observed", the landscape remains "somewhat dynamic" due to volatility in secondary peril ... Read the full article
Descartes expands U.S. presence with new offices, makes key global appointments
27th June 2024
Global corporate insurer Descartes Underwriting has expanded its U.S. presence with new offices in Scottsdale and Richmond while also making a string of key appointments to support growth worldwide. "Now with more than 200 employees worldwide, Descartes Underwriting's new branches in Scottsdale, Arizona and Richmond, Virginia add to its physical presence ... Read the full article
Jennifer Gebran to head Markel’s MENA Casualty team
27th June 2024
Markel, the insurance operation within Markel Group Inc., has appointed Jennifer Gebran as Head of Casualty for the Middle East and North Africa (MENA) region. Based in Dubai, Gebran will be responsible for developing the region’s casualty underwriting strategy – one centred on enhanced underwriting capabilities and the delivery of profitable ... Read the full article
Slide secures $175m senior credit facility
27th June 2024
Slide Insurance, the technology-enabled insurance company, has secured a $175 million senior credit facility led by Regions Bank in its capacity as Administrative Agent, Joint Lead Arranger, and Joint Bookrunner. As well as this, Synovus Bank and Texas Capital Bank, through its TCBI Securities Inc. division, also supported the transaction as ... Read the full article
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