Reinsurance News
UK life insurance market sees positive growth amid emerging risks: AM Best
18th June 2024
Credit rating agency AM Best maintains a stable outlook for the UK life insurance segment, highlighting strong growth in pension risk transfers and the positive impact of higher interest rates on investment yields. Pension-related products continue to drive substantial growth in the UK's life insurance segment. These products are projected to ... Read the full article
Scott Sykes to lead Amphitrite’s newly launched cargo division
18th June 2024
Amphitrite Underwriting London, a marine specialist managing general agent (MGA), has announced the appointment of Scott Sykes as Head of its newly formed Cargo Division, which has recently secured capacity from Lloyd’s. Sykes, who has over 35 years of experience in Lloyd’s and international markets. He spent the last 14 years ... Read the full article
Intensified regulatory scrutiny on EU life insurers potentially hitting profits: Moody’s
17th June 2024
Moody's, a credit rating agency, has released a report emphasising intensified regulatory scrutiny on European Union life insurers to ensure their products deliver "value for money," potentially impacting profitability and operational strategies, particularly for unit-linked and hybrid products. Since 2018, reports from the European Insurance and Occupational Pensions Authority (EIOPA) have ... Read the full article
WTW names Len Graziano Casualty Strategy & Execution Leader for CRB NA
17th June 2024
Global advisory, broking, and solutions firm WTW has appointed Len Graziano as Casualty Strategy and Execution Leader within Corporate Risk and Broking, North America (CRB NA). Graziano joins WTW from Aon, where he led the Excess Casualty practice, managing a team of brokers focused on casualty risk solutions for clients. In his ... Read the full article
June US SCS flooding spurs anticipation of hundreds of millions in insured losses: Aon
17th June 2024
Aon, a professional services firm providing risk, retirement, and health solutions, has released a weekly catastrophe report showing that since June 11, Southern Florida has faced substantial financial losses due to prolonged and excessive rainfall and severe convective storms (SCS). This has led to significant flash flooding and expected economic and ... Read the full article
Allianz appoints Vanessa Maxwell as Global Head of Cyber & Financial Lines
17th June 2024
Allianz Commercial has recently announced the appointment of industry veteran Vanessa Maxwell as Global Head of Cyber, alongside her current role as Global Head of Financial Lines. In this dual capacity, Maxwell will report directly to Shanil Williams, Chief Underwriting Officer at Allianz Commercial. She will oversee Cyber and Financial Lines as ... Read the full article
KMC & TSA enter into program administration agreement
17th June 2024
Knight Management Company (KMC) has agreed to provide paper to write reclamation, commercial, and contract surety to Triangle Surety Agency (TSA) and provide access to KnightBrook Insurance Company (KBIC) paper. Triangle Surety will act as the program administrator for the program which aims to approximately double the amount of business First ... Read the full article
Cécile Paillard named Generali Group Chief Transformation Officer
17th June 2024
Italy-headquartered insurer Generali has announced the appointment of Cécile Paillard as Group Chief Transformation Officer, effective as of September 2, 2024. Also joining the Group Management Committee (GMC), Paillard will be directly reporting to the General Manager, Marco Sesana. As Group Chief Transformation Officer, Paillard will be responsible for accelerating the company’s ... Read the full article
Proactive risk management key for 2024: Gallagher
17th June 2024
(Re)insurance broking group Gallagher's new report highlights the necessity for businesses and communities to adopt proactive risk management strategies, in light of global uncertainties in 2024. The year is marked by the potential for civil unrest, terrorism, and political violence due to upcoming elections worldwide. In the UK, environmental activism has caused ... Read the full article
Rokstone hires Amato to launch Global Sports Personal Accident portfolio
17th June 2024
Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has hired 35-year underwriting veteran Graham Amato to launch a new Global Sports Personal Accident portfolio. Launching with A-rated capacity, Rokstone is set to deliver tailored, Lloyd’s-approved wordings for a wide variety of sports including motorsport, golf, tennis, football, as ... Read the full article
CyberCube unveils new logo signifying established status & future aspirations
17th June 2024
Cyber analytics firm CyberCube has unveiled a new logo, symbolising its evolution from a start-up in 2015 to an established market leader. Pascal Millaire, Chief Executive Officer at CyberCube, commented, “In 2015, we had lofty ambitions to become the pre-eminent cyber risk analytics partner to the insurance industry as a start-up ... Read the full article
Howden names Paul Hipson as Head of London Broking
17th June 2024
The insurance intermediary group Howden has announced the appointment of Paul Hipson to the newly created role of Head of London Broking for the Corporate & Commercial division within Howden UK & Ireland, effective June 2024. In his new position, Hipson will oversee the existing London Broking team, which primarily assists ... Read the full article
Arabian Gulf flooding to hit reinsurance programs as loss figures reach into billions: Gallagher Re
17th June 2024
With torrential rains and deadly flooding impacting many Arabian Gulf countries between April 13-17, Gallagher Re estimates the market loss for United Arab Emirates (UAE) property to be in the range of $1.8 billion to $2.3 billion, while UAE Motor will fall between $350 million and 650 million. Outlining the particulars ... Read the full article
“Higher for longer” interest rate environment is boosting life insurance demand, Swiss Re Institute
17th June 2024
Swiss Re Institute is forecasting a 40% rise in insurers' investment income on average, for insurers in the largest eight life markets in the five years to 2027, driven primarily by higher bond yields. In a recent blog authored by James Finucane, Senior Economist, Swiss Re Institute & Loïc Lanci, Economist, ... Read the full article
SCOR promotes Benoît Liot to Head of Risk Partnerships
17th June 2024
French reinsurer SCOR has announced the appointment of longstanding retrocession and third-party capital partnerships executive Benoît Liot as Head of Risk Partnerships. SCOR has highlighted the relevance of this appointment as “an important step toward delivering on its Forward 2026 strategic plan.” In order to cater to its expanding clients’ risk ... Read the full article
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