Reinsurance News
Chubb appoints John Thompson and Daniela Hernandez to new roles
26th May 2022
Chubb has appointed John Thompson and Daniela Hernandez to new positions within the firm. According to the company, Thompson will be the new vice president of Chubb Group and division president of international personal lines, while Hernandez will be division president of its international accident and health. Both divisions are part ... Read the full article
Carbon appoints new head of pricing
26th May 2022
Carbon Underwriting has announced Alex Harris to be its new head of pricing. The firm said that Harris will play a role in supporting functions across the business including building out a pricing framework to support underwriters, adding actuarial rigour to the development of Carbon’s proprietary technology platform, Graphene, as well ... Read the full article
Howden appoints Marsh’s Sarah Neild to lead UK Cyber Retail Practice
26th May 2022
International insurance broker, Howden, has appointed Sarah Neild as Head of UK Cyber Retail, where she will report to David Rees, and be based in London. Neild will join Howden in November once her contractual obligations have been fulfilled. Her appointment reflects Howden’s commitment to continue with investing in its Cyber proposition, ... Read the full article
Aon hires Craig Fenster for agriculture reinsurance team
26th May 2022
Aon has hired Craig Fenster to be managing director of its agriculture reinsurance team. Fenster, who announced the move on LinkedIn, is joining the firm from Accelerant Holdings where he was exposure reporting lead. Before that position, he spent over five years as vice president of underwriting at AmTrust Financial Services. He ... Read the full article
Beazley’s Adam Glasby joins Novidea as Programme Manager
26th May 2022
Global insurtech and provider of a cloud-based insurance distribution platform, Novidea, has named Adam Glasby as one of its new Programme Managers. Glasby, who started his career as a software developer for Reuters Information Systems, brings 20 years of London Market experience towards his new role. Most recently he served at Lloyd’s ... Read the full article
Florida passes insurance bill to settle troubled market
26th May 2022
The Florida House of Representatives passed Senate Bill 2-D on Wednesday in an attempt to stabilise the state’s insurance sector. Among the bill’s provisions are a program that provides $2bn of reinsurance capacity, attaching below the Florida Hurricane Catastrophe Fund’s (FHCF) $8.5bn attachment point, but covering only hurricane losses; the limiting ... Read the full article
PwC outlines five trends impacting the insurance industry
26th May 2022
A new report from PWC has outlined five trends it sees affecting the future of insurance. The firm, in its Insurance Reimagined: Spotlight on Trust, Convergence, and Transformation report, says that the five trends are a widening trust gap in an uncertain world; rapidly evolving consumer needs and preferences; an increasingly ... Read the full article
Prudential names Anil Wadhwani as new Group Chief Executive
26th May 2022
Global life insurer, Prudential plc has announced the appointment of Anil Wadhwani as Group Chief Executive Officer (CEO). He will join the company from Manulife, where he currently serves as President & CEO, Manulife Asia. Within his new role, he will based in Hong Kong, where he currently resides. Prudential has stated that ... Read the full article
R&Q shareholders reject acquisition, capital raise to proceed
26th May 2022
Shareholders of Randall & Quilter Investment Holdings Ltd (R&Q) have again rejected an acquisition of the company by Brickell PC Insurance Holdings LLC, which is backed by 777 Partners, but have instead approved plans to focus on a $100m+ capital raise. R&Q failed to gain shareholder approval for the acquisition ... Read the full article
Loadsure predicts spike in claims for cargo theft
26th May 2022
Loadsure has said a spike in cargo theft over Memorial Day in the US is to be expected, even though more than 60% of cargo remains uninsured or underinsured. According to analysis by CargoNet, part of Verisk, the average value of stolen cargo in 2021 was $172,340, a figure that does ... Read the full article
Munich Re to continue strategic cooperation with Jolywood
26th May 2022
Reinsurance giant Munich Re, and specialist in N-type PV technology, Jolywood, have announced that they will continue their strategic cooperation, as the two companies will continue joining forces to improve global renewable energy solutions. Munich Re will continue to provide Jolywood with a 12-year warranty for material and a 30-year warranty ... Read the full article
Burns & Wilcox to offer Loadsure’s AI-powered insurance coverage to brokers across Canada
26th May 2022
Insurtech Managing General Agent (MGA), Loadsure has announced a partnership with wholesale specialty insurer and MGA, Burns & Wilcox. Under the partnership, Burns & Wilcox will offer Loadsure’s AI-powered trip transit insurance coverage to independent brokers across Canada, giving them access to dynamically priced, pay-as-you-go, all-risk smart coverage and automated claims, ... Read the full article
CyberCube updates Portfolio Manager to keep pace with cyber trends
26th May 2022
Leading cyber analytics provider, CyberCube has released an updated version of Portfolio Manager (PM) – the industry’s leading cyber risk modeling platform used by re/insurers and brokers. The new version of PM focuses on deepened modeling of two key scenario classes, cloud outage and mass malware, and also includes general data ... Read the full article
P&C lines poised for favourable underwriting gains: Fitch
25th May 2022
Analysts at Fitch Ratings have reported that the underwriting performance of US property and casualty (P&C) insurance commercial sector lines is “poised for favourable underwriting gains in 2022,” barring outsized natural catastrophe losses. Commercial lines’ underwriting performance returned to profitability in 2021, with significant declines in both calendar-year loss and expense ... Read the full article
Lloyd’s appoints Waystone as investment platform operator
25th May 2022
Waystone, an institutional provider of services to the asset management industry, has been chosen as Platform Operator for the Lloyd’s investment platform. The new platform will consist of a series of select funds across asset classes, made available to Lloyd’s market investors who can freely invest in and allocate between them. Key ... Read the full article