Reinsurance News
McGill and Partners to expand into Nordics with new office in Sweden
24th September 2024
Global specialty insurance and reinsurance broker McGill and Partners has revealed it will be expanding into the Nordics with the opening of a new branch office in Sweden. According to the firm, the new branch will be part of its European entity, strengthening broking expertise across its key specialties and further ... Read the full article
Aon launches new US severe convective storm catastrophe model
24th September 2024
Global insurance and reinsurance broker Aon has launched a new catastrophe model to analyse the impact of increasingly costly Severe Convective Storms (SCS) in the US, which the firm says reflects re/insurers "true exposures" to the peril. SCS have accounted for over 60% of global natural catastrophe losses in H124, and ... Read the full article
BHSI expands in Italy with new Milan office and leadership appointments
24th September 2024
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance, recently announced the opening of a new office in Milan, appointing Leonardo Castrichino as Country Manager to lead its business in Italy, alongside other leadership appointments. “Since opening our first European offices in 2016, BHSI has been ... Read the full article
Asia Pacific re/insurers saw more rating upgrades than downgrades in 2023, says AM Best
24th September 2024
Long-Term Issuer Credit Rating (Long-Term ICR) upgrades exceeded downgrades for AM Best-rated Asia-Pacific re/insurers in 2023, primarily driven by improved balance sheet strength and favorable operating performance. A new report released by AM Best reveals that eight Long-Term ICRs were upgraded in 2023 with four downgraded on a range of factors, ... Read the full article
CRC Group appoints Abby Daugherty as Vice President to lead new office in Phoenix
24th September 2024
CRC Group, a wholesale specialty insurance distributor in North America, has announced the appointment of Abby Daugherty as Vice President. Daugherty will establish and oversee a new binding office in Phoenix, Arizona. This expansion reinforces CRC Group’s dedication to delivering robust service and expanded market access to retail insurance agents in the ... Read the full article
Westfield appoints Andy Rose as VP of Small Business
24th September 2024
Westfield, a US property and casualty insurer, has announced the appointment of Andy Rose as Vice President (VP) of Small Business. In his new role, Rose will lead Westfield's Small Business division, focusing on driving profitable growth by collaborating with independent agents to offer tailored risk solutions for small businesses across ... Read the full article
Tokio Marine HCC and Tredder partner to launch adventure insurance product
23rd September 2024
Tredder, an insurtech company, has announced a new partnership with Tokio Marine HCC (TMHCC), a provider of specialty insurance. This partnership introduces a stand-alone supplemental insurance product tailored for the vehicle-based adventure community, positioning Tredder as a key player in the specialty adventure vehicle market. The new product offers comprehensive coverage for ... Read the full article
Nina Duft joins Gallagher as CFO and COO for Europe
23rd September 2024
Gallagher UK has announced the appointment of Nina Duft in the joint role of Chief Finance Officer (CFO) and Chief Operations Officer (COO) for Europe. Duft is an experienced finance professional with a strong track record in financial reporting, financial planning and financial controls, as well as business strategy. The executive is ... Read the full article
kWh Analytics and US Department of Energy launch $2.4m Solar Resilience Initiative
23rd September 2024
kWh Analytics, a provider of climate insurance for renewable energy assets, has announced a new $2.4 million partnership with the US Department of Energy's Solar Energy Technologies Office (SETO) through the Materials, Operation, and Recycling of Photovoltaics (MORE PV) Funding Programme. This collaboration aims to create innovative strategies for enhancing the ... Read the full article
BOXX Insurance hires Beazley’s Yoast as USA President, names Itriago LATAM President
23rd September 2024
Global cyber insurtech BOXX Insurance has announced the appointment of Christyn Yoast as President, BOXX USA, to drive expansion and oversee the company’s strategic direction in the United States. Hilario Itriago, the former BOXX USA leader, will now take on the newly formed role of President, Latin America. Yoast joins BOXX following ... Read the full article
Organisation data on dark web increases cyber attack risk: Marsh McLennan
23rd September 2024
The presence of any data related to an organisation on the dark web increases its risk of cyberattacks, according to a study by Searchlight Cyber and the Marsh McLennan Cyber Risk Intelligence Center. The Center examined Searchlight’s dark web dataset alongside a sample of 9,410 organisations, which had an overall breach ... Read the full article
US life/annuity market sees net income rise to $14.1bn in H1’24: AM Best
23rd September 2024
During the first six months of 2024 net income for the US life/annuity (L/A) insurance sector increased by 7.1% over the same prior year period to $14.1 billion, driven primarily by lower realised capital losses, according to a new report from AM Best. If you recall, the US life/annuity market witnessed ... Read the full article
Everest Insurance names HDI Global’s Antunes as Global Head of Multinational Services
23rd September 2024
Everest Insurance, the insurance division of Bermuda-based re/insurer Everest Group, has appointed HDI Global's Nuno Antunes as Global Head of Multinational Services, and Ning Xu as Manager, Multinational Network Partners. A renowned veteran across the sector, Antunes joins the organisation with over 20 years of industry experience. Most recently he held the ... Read the full article
PPL launches simplified Express Contracts route
23rd September 2024
Placing Platform Limited (PPL) has launched its new Express Contract functionality, a fast-track process that makes it quicker and easier for brokers to bind risks. In pre-launch testing, the time taken to create a single contract placement was significantly shortened, along with improved user feedback and an even more simplified user ... Read the full article
Swiss Re CorSo announces new leadership roles for Hassan Karim & Devpriya Misra
23rd September 2024
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has expanded Hassan Karim’s role to Head of Customer & Distribution Management for Asia Pacific (APAC) and appointed Devpriya Misra as Client Solutions Lead. Before this expansion, Karim was the Head of Distribution Management & Partnerships for APAC, overseeing ... Read the full article
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