Reinsurance News
ISC introduces New Marine Division with seasoned industry experts
21st June 2024
Integrated Specialty Coverages (ISC), a programme administrator based in Carlsbad, California, specialising in creating comprehensive insurance solutions using advanced artificial intelligence (AI) and data analytics, has recently introduced its new Marine Division. This division is led by experienced industry professional Kevin Wolfe, along with John Kiernan and Marquam “Marq” Wolfe. Matt Grossberg, ... Read the full article
S&P upgrades REVO Insurance rating to A-
21st June 2024
S&P Global Ratings has raised REVO Insurance, S.p.A.’s, an Italian insurer specialised in parametric policies and specialty lines, rating from BBB+ to A- with a stable outlook. According to the rating agency, the upgraded rating reflects the insurer’s “profitable growth across all the business lines maintaining its leadership in the Surety ... Read the full article
Palomar Holdings announces two key leadership appointments
21st June 2024
Palomar Holdings, a specialty property insurer, has announced two key appointments: Tim Carter as Chief People Officer and Rodolphe “Rudy” Herve as Chief Operating Officer. Mac Armstrong, Chairman and Chief Executive Officer of Palomar, expressed his enthusiasm about these appointments, stating, “We are thrilled to welcome Tim and Rudy to Palomar ... Read the full article
Achmea sponsors €100m cat bond covering European windstorm
21st June 2024
Achmea Reinsurance Company N.V has entered into a four-year reinsurance agreement with Windmill III Re DAC, a multi-arrangement special purpose vehicle incorporated in Ireland, providing per occurrence cover in respect of losses from European windstorms originating from Achmea’s non-life insurance companies Achmea Schadeverzekeringen N.V. and N.V. Hagelunie. Achmea explained that Windmill ... Read the full article
AM Best upgrades credit ratings of Athene
21st June 2024
Rating agency AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of the members of Athene Group (Athene), and has assigned a stable outlook to the ratings. As noted by the ... Read the full article
LMA backs postponement of cutover date for Blueprint Two
21st June 2024
Sheila Cameron, CEO of the Lloyd's Market Association (LMA) has noted that it welcomes the decision by Velonetic, supported by Lloyd’s Council, to postpone again the cutover date for Blueprint Two, which was "taken in light of the reality that delays in testing have meant that it is no longer ... Read the full article
MGA Devonshire appoints Sam Jeater as Underwriting Manager
21st June 2024
Managing General Agent (MGA) Devonshire Underwriting has announced that it has hired Sam Jeater as its new Underwriting Manager. In the role, he will largely focus on enhancing Devonshire’s Warranties & Indemnities (W&I) product offering from a financial perspective, which includes both product development and production management. Jeater joins Devonshire as an ... Read the full article
CAD $19tn in Canadian insured assets exposed to natural perils: CatIQ
21st June 2024
CatIQ, a subsidiary of Zurich-based PERILS AG, has released its Canadian Insurance Industry Exposure Database (IED) for 2024, revealing that CAD 19 trillion worth of insured property assets are exposed to natural perils. This represents an 11.3% increase from the previous year, consistent with trends observed by PERILS AG across European ... Read the full article
Thomas Neil Morrison joins Aviva’s Board as Non-Exec Director
21st June 2024
Thomas Neil Morrison has been appointed to the Board of Aviva plc, the insurance and financial services company, as a Non-Executive Director. Based in Toronto, Ontario, Canada, Neil will become a member of the Aviva plc Nomination and Governance, and Risk Committees. A renowned figure across the industry, Neil brings over 38 ... Read the full article
AXIS launches Cyber Incident Commander for rapid response support
21st June 2024
AXIS Capital Holdings Limited (AXIS) has recently launched AXIS Cyber Incident Commander, a new service designed to assist policyholders facing cyber incidents by providing them with a single point of contact for immediate guidance from experienced cyber experts. Nicholas P.R. Steinmann will lead Incident Commander, which specifically serves US-based direct primary ... Read the full article
Mosaic Insurance partners with WNS to create future-ready operations model
21st June 2024
Global specialty insurer Mosaic Insurance has entered into a multi year partnership with WNS, a provider of global digital-led Business Process Management (BPM) solutions. This partnership aims to create a future-ready operations model for underwriting and claims support, reinsurance processing, and finance and technology services. WNS will leverage its deep domain expertise ... Read the full article
IUA launches London forum for mergers and acquisitions insurance focus
21st June 2024
A new London company market forum, operated by the International Underwriting Association (IUA), which represents London-based international and wholesale insurance and reinsurance companies, is centring its efforts on warranty and indemnity insurance. This type of insurance is crucial in mergers and acquisitions, helping to mitigate losses stemming from contractual warranties. Recently formed, ... Read the full article
ICEYE nat cat data being integrated into Guidewire
20th June 2024
Guidewire, a provider of software solutions to the insurance industry, and ICEYE, of satellite-powered disaster management solutions provider, have launched ICEYE's new Ready for Guidewire validated accelerator on the Guidewire Marketplace, now accessible to ClaimCenter users on Guidewire Cloud. ICEYE, a recent graduate of the Insurtech Vanguards programme and winner of ... Read the full article
Emerald Bay & Lightspeed launch homeowners insurance facility in California
20th June 2024
Emerald Bay Risk Solutions, a collaborative underwriting carrier, has partnered with Lightspeed Specialty Insurance Solutions, a subsidiary of Volnay Insurance Holdings, to launch an insurance facility in California aimed at providing comprehensive coverage to homeowners and landlords in a market that has been underserved. This new initiative will focus on homes ... Read the full article
Marsh’s Chestiperova joins SCOR’s Alternative Solutions Reinsurance team
20th June 2024
Olga Chestiperova has joined SCOR’s Alternative Solutions Reinsurance team as a Senior Underwriter, based in the company's Paris office. The addition of Chestiperova further bolsters a team that has been expanding in recent months. Chestiperova joins the French reinsurer with a background in structured solutions consulting at Marsh France, where she worked ... Read the full article
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