Reinsurance News
Generali sees GWPs up 6.1% in Q1 2022
19th May 2022
Generali is reporting that its gross written premiums in Q1 2022 to €22.3bn, or 6.1%. However, the firm said that its net result was down to €727m in the quarter, down from €802m in the preceding year’s same quarter. This, it said, had been impacted by impairments on its Russian investments ... Read the full article
AGCS appoint new regional head of claims in Tom Major
19th May 2022
Allianz Global Corporate & Specialty (AGCS) has appointed Tom Major as the new regional head of claims for regional unit London and Nordics, effective 1 June. In this role, Tom will lead AGCS’ claims services business across the UK, Ireland, and Nordics with responsibility for overseeing a claims service across the ... Read the full article
Brown & Brown makes Kiet Tran its new CTO
19th May 2022
Broker firm Brown & Brown has appointed Kiet Tran as its new chief technology officer. The firm said that before Brown & Brown, Tran led IT infrastructure and operations for ADT. He will be based at the company’s enterprise campus in Daytona Beach, Florida. Gray Nester, chief information officer at the ... Read the full article
Munich Re Life US partners with Sparta Science to reduce risk of MSK injury
19th May 2022
Munich Re Life US, the life division of reinsurance giant Munich Re, has announced that it has entered into a strategic partnership with Sparta Science, aimed at reducing the occurrence of musculoskeletal (MSK) injury claims. The partnership will allow Munich Re to offer disability insurance carriers in the US and Canada ... Read the full article
Lockton Re hires James Donnelly for its accident, health, and life segment
19th May 2022
Lockton Re has hired James Donnelly as a senior broker within its accident, health, and life segment. A statement from the firm said that Donnelly was most recently part of the life, accident, and health team at Guy Carpenter and has also spent time at Aon as an associate director. Before that, ... Read the full article
Citizens ‘very unlikely’ to place 100% of risk transfer program with ‘markets in disarray’ – CFO
18th May 2022
The Board of Florida’s Citizens Property Insurance Corporation today approved a proposal for the carrier to spend $400 million on its risk transfer renewal for the upcoming hurricane season, although it's expected that this will only fill 90% of the full program amid a reduction in appetite from reinsurers. Today, Citizens ... Read the full article
FedNat CFO Jordan quits
18th May 2022
Ronald A. Jordan, CFO of troubled insurance company FedNat, has resigned from his role. The resignation of Jordan is the latest in a series of travails for the firm. A filing from the FedNat Holding Company announced that he has handed in his resignation, effective June 10th, 2022. The filing states ... Read the full article
SCOR announces first underwriting exclusions on oil
18th May 2022
During its recent Annual General Meeting, global reinsurer, SCOR announced its first underwriting exclusions on oil, as the company announced the end of coverage for new oilfield projects by 2023. The French reinsurer did state that it will make exceptions for oil projects of "companies aligned with Net-Zero by 2050". SCOR has ... Read the full article
Firm order terms for TWIA’s 2022 reinsurance renewal suggests ROL of 6.75%
18th May 2022
The Texas Windstorm Insurance Association (TWIA) looks set to pay more for its larger 2022 traditional reinsurance program, with firm-order-terms (FOT) for the renewal pointing to a rate-on-line (ROL) of 6.75%, according to its broker Gallagher Re. Yesterday, the board of the Texas insurer of last resort heard from representatives of ... Read the full article
RMS launches cloud-based application, UnderwriteIQ
18th May 2022
RMS, a risk modelling and solutions company has announced that it will be launching a new application – UnderwriteIQ, which will be hosted on the cloud-based RMS Intelligent Risk Platform. The application will enable underwriters to have greater control of risks by bringing hazard, exposure, and loss data together in the ... Read the full article
RGA seeing greater demand for life reinsurance since pandemic
18th May 2022
Anna Manning, President and CEO of Reinsurance Group of America (RGA), has said that her company has seen higher demand for its life reinsurance service since the outbreak of the COVID-19 pandemic two years ago. Speaking as part of an earnings call alongside the release of RGA’s Q1 results, Manning was ... Read the full article
Zurich appoints new CFO of commercial insurance in Sarah Maillet
18th May 2022
Zurich has a new CFO of commercial insurance in Sarah Maillet, who takes up the role at the beginning of June. Maillet will report to Sierra Signorelli, CEO of commercial insurance, and be based in Zurich, Switzerland. In her new role, she will be responsible for leading, directing and controlling Commercial Insurance’s ... Read the full article
Florida’s ‘artificial’ insurance structure is ‘untenable’ – ALIRT
18th May 2022
The efforts of both the Florida government and the state's insurance department to provide its citizens with affordable property insurance has created an "artificial structure" which is "untenable," according to ALIRT Insurance Research. For the past three decades, the state's government and insurance department have made numerous efforts to create a ... Read the full article
Zurich UK and Riskonnect announce strategic collaboration
18th May 2022
Zurich Resilience Solutions UK – part of leading insurer Zurich UK, has entered into a collaboration with leading integrated risk management software solution provider, Riskonnect. The alliance will provide Zurich’s customers in the UK with access to Riskonnect’s Risk Management Information Systems (RMIS), Enterprise Risk Management (ERM), and Health and Safety ... Read the full article
Acrisure Re hires Ainsby from WTW to lead new Asia fac operation
18th May 2022
Acrisure Re, the reinsurance arm of the brokerage and fintech platform, has hired Duncan Ainsby from WTW to lead its new Asia facultative operation based out of the firm's new Hong Kong office. Ainsby takes on the role of Senior Vice President (SVP) of Facultative Reinsurance and Head of Asia. Based ... Read the full article