Reinsurance News

Arch Insurance appoints Sam Bradley as senior cyber underwriter

21st November 2022

Arch Insurance has appointed Sam Bradley to the role of senior cyber underwriter. Bradley will take on the role immediately, be based in London, and is set to report to Marcus Breese, head of cyber and technology E&O. He joins from Willis Towers Watson where he was a senior cyber broker. ... Read the full article

Markel International expands Hong Kong presence with new office

21st November 2022

Markel International has announced that it has moved to a larger office in Hong Kong and has appointed specialist underwriters in financial lines and marine to its experienced team. The new office upgrade signals the firms aim to develop and grow its specialist expertise within the region. The firms Hong Kong office ... Read the full article

Liberty Mutual appoints Rachel Conran as CUO of LSM

21st November 2022

Rachel Conran is set to take over as Liberty Specialty Markets' (LSM) new Chief Underwriting Officer (CUO) on January 1st, 2023. Based in Cologne, Germany, she will be responsible for underwriting performance across the business. The appointment was announced today by Liberty Mutual Insurance's Global Risk Solutions (GRS) unit. In her new ... Read the full article

AdvantageGo names Ian Summers Global Business Leader

21st November 2022

AdvantageGo, a commercial re/insurance software provider and part of Coforge, has appointed Ian Summers as Global Business Leader. In his new role, Summers will be responsible for the strategic direction and the operations of the company and leading AdvantageGo´s dedicated team of specialists in delivering best-in-class commercial re/insurance software that transforms ... Read the full article

UK consumers willing to pay more for policies from sustainable insurers: GlobalData

21st November 2022

According to a survey conducted by GlobalData, 41.4% of UK consumers are willing to pay more for an insurance policy from a provider with a good record of sustainability, with a further 10.2% sitting on the fence. Ben Carey-Evans, Senior Insurance Analyst at GlobalData, states, “These survey results come amid the ... Read the full article

PRT business continues to perform in a growing global market: L&G

21st November 2022

In its latest market update, Legal & General Group (L&G) has reported that its global Pension Risk Transfer (PRT) business continues to perform strongly, as the firm secured new business wins in each the UK, US and Canada in the last few weeks. Year-to-date, Legal & General Retirement Institutional (LGRI) states ... Read the full article

Risks to food supply chains growing alongside complexity and size: Lloyd’s & WTW

21st November 2022

A new report from Lloyd’s and WTW says that the risks associated with food chains around the world have increased as these chains have grown in size, volume, and complexity. The firm said that food and drink supply chains will play an essential part in facilitating global progress and building societal ... Read the full article

Risk Strategies bolsters medical presence with acquisition of Wallace Specialty

21st November 2022

Leading national specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Wallace Specialty Insurance Group. Terms of the acquisition were not disclosed. Founded in 2012, Wallace Specialty was created to provide the dental industry with the best-in-class insurance services. The firm creates custom, comprehensive insurance plans for dental service organizations, ... Read the full article

Net zero plans help insurers manage carbon transition risks: Moody’s

21st November 2022

According to a recent Moody's investor's service report, net zero objectives require considerable organisational focus and investment in measuring carbon transition risk, which in turn puts insurers in a better position to manage it. The most credible plans are based on robust and transparent frameworks, include measurable interim targets, and cover ... Read the full article

Charles Taylor Adjusting opens new Vietnam office

21st November 2022

Charles Taylor Adjusting (CTA), an international loss adjusting business, has expanded its Natural Resources capability in Asia with the opening of a new office in Ho Chi Minh City, Vietnam. According to the announcement, this “strategic expansion” will allow CTA to offer technical loss adjusting services across mining, power and energy ... Read the full article

AM Best upgrades China Re ratings

21st November 2022

AM Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A of China Reinsurance (Group) Corporation (China Re) (China) and its subsidiaries. According to AM Best, China Re’s ratings reflect its balance sheet strength, which AM Best assesses as very ... Read the full article

Tech and human intelligence in re/insurance should work as a “marriage”: Collins, Corinthian Re

18th November 2022

The role that technology plays in the re/insurance industry is increasing and this is happening at a time when market participants are striving for greater efficiency, in an effort to both lower costs and remain relevant in an evolving sector. For Christopher Collins, CEO of Corinthian Re, there needs to be ... Read the full article

US Pension Risk Transfer market expected to close $27 billion in Q3: LGRA

18th November 2022

Legal & General Retirement America (LGRA) has released its third quarter Pension Risk Transfer Monitor, reporting that it is expected to be the largest Q3 on record and the second largest in market history with $27 billion in transactions closing. LGRA notes that this year's Q3 is only second to 2012’s ... Read the full article

Agilicus and Ridge Canada Cyber Solutions announce partnership

18th November 2022

Agilicus, a cybersecurity company and Ridge Canada Cyber Solutions Inc. (RCCS), a managing general insurance agency, have announced their partnership to assist Canadian small to midsize businesses (SMB) qualify for and obtain cybersecurity insurance. With cyber risks and data breaches on the rise, additionally, the adoption of remote work by many ... Read the full article

California launches Sustainable Insurance Roadmap

18th November 2022

A new Sustainable Insurance Roadmap that looks to tackle climate change has been announced by California’s insurance commissioner and the United Nations’ Principles for Sustainable Insurance Initiative (PSI). The roadmap is to be concentrated in the state and, according to the California Department of Insurance, will mark ‘a strategic shift’ in ... Read the full article