Reinsurance News
Slowdown in European insurance M&A over Q1
16th May 2022
New market research by FTI Consulting shows a slight slowdown in European insurance M&A deal volumes relative to Q1 2021, which it says were affected by macro trends such as the pandemic and the Russia-Ukraine conflict. In part, analysts noted that the comparative slowdown likely reflects the backlog of transactions that ... Read the full article
Aon appoints Charles Knight as Global Yacht Manager
16th May 2022
Leading global professional services firm, Aon has named Charles Knight as Global Yacht Manager, Specialist in Yacht, and Pleasure Craft. Knight joined the company on May 3, 2022, and reports to Global Yacht Leader – Emma Carpenter. Within this new role, Knight will drive the development of Aon’s small yacht offering for ... Read the full article
At-Bay launches new cyber insurance program, backed by Trisura & HSB
16th May 2022
Cyber insurance provider At-Bay has announced the launch of a new cyber insurance program backed by two leaders within specialty insurance – Trisura Specialty Insurance Company and The Hartford Steam Boiler (HSB). Trisura serves as the new issuing carrier for the cyber and tech errors and omissions (E&O) program, while HSB ... Read the full article
Whitespace platform extends data capabilities through new update
16th May 2022
Digital e-trading platform, Whitespace has announced that it has extended its defined data capabilities with its new update, Release 2.4.1. This further development extends the platforms defined data tagging abilities, offering contracts that are fully core data record (CDR) compliant, which will enable huge standardisation of data and reduced repetition and ... Read the full article
Insurance not the sole solution to cyber resilience: Swiss Re’s Ermotti
13th May 2022
Sergio P. Ermotti, Chairman of the Board of Directors, has stressed that, while insurance go some way towards mitigating the impact of cyber risks, it “is not the sole solution” to cyber resilience. Cyber risks have become even more prominent since the COVID-19 pandemic and Russia's invasion of Ukraine, as working ... Read the full article
Risk Strategies announces acquisition of The Insurance Center of Central Florida
13th May 2022
Leading national specialty insurance brokerage and risk management firm, Risk Strategies has announced that it has acquired The Insurance Center of Central Florida (ICCF), a firm primarily focused on crafting risk management solutions for private clients. Terms of the deal have not been announced. Headquartered in Melbourne, Florida, ICCF was founded 31 ... Read the full article
Captives to take on risks shunned by traditional re/insurers: AGCS’s Houlihan
13th May 2022
With many insurers and reinsurers beginning to shy away from complex emerging risks, captives could be set to take on more of the issues shunned by the traditional market. This is according to Thomas Houlihan, Regional Head, Americas - ART (Alternative Risk Transfer) at Allianz Global Corporate & Specialty (AGCS), who ... Read the full article
Hippo reports 25% YoY growth in total generated premium in Q1
13th May 2022
Home insurer Hippo has announced total generated premium (TGP) growth of 25% YoY to $154 million in Q122, compared to $123 million from the prior years quarter. The quarter also included a rise in gross written premium (GWP) to $117 million, a 17.9% difference to last years $99 million. At the same ... Read the full article
WTW appoints Henry Keville as new head of FINEX GB financial institutions
13th May 2022
WTW has appointed Henry Keville to be its new head of FINEX GB financial institutions. The firm said that Keville will be based in the UK and will report into Marcus Porter Wright, head of FINEX GB. Porter Wright said in a statement: “I am delighted that Henry will lead our Financial ... Read the full article
AXA XL adds three to its cyber incident response team in North America
13th May 2022
AXA XL has added Jeanelle Dawes-Ghee, Yelizaveta (Liz) Veys, and Bridget Mead as claims specialists to its cyber incident response team in North America. The firm said that the three will report into Gwenn Cujdik, North America cyber incident response manager. Veys and Mead will be based in Exton, Pennsylvania, while ... Read the full article
Gallagher Re suggests reinsurance adjustments to mitigate inflation pressure
13th May 2022
Analysts at Gallagher Re have suggested a number of changes to the way that insurers utilise reinsurance protection in order to better account for and mitigate the growing challenge of inflation. In a new report, the broker notes that the debate around inflation has moved on from whether it will spike ... Read the full article
Aspen brings its clout to Counterpart
13th May 2022
Insurtech firm Counterpart has gone into partnership with Aspen Insurance and Markel to give small businesses access to the former’s management liability products. In a statement, Counterpart said that Aspen was joining as a member company of Markel. Tanner Hackett, CEO of Counterpart, said: “From vaccine mandates to hybrid workplaces to supply ... Read the full article
GRS adds Allied Claims Solutions to its network
13th May 2022
Loss adjustment Global Risk Solutions (GRS) has gone into a strategic partnership with Allied Claims Solutions, who will become a GRS global network partner. A statement from the firm said that the partnership further develops the GRS Global Network, specifically within its Complex Claims Solutions business. In conjunction with the recent ... Read the full article
Concord promotes three key executives
13th May 2022
Concord Specialty Risk has announced the promotions of three executives. Ilan D. Peress has been promoted to Concord’s Chief Marketing & Administration Officer. In a press release, it says that Ilan has achieved success in helping Concord increase market share by his creativity, work ethic, and his administrative skills. Ilan is also a ... Read the full article
U.S. PRT market on course for “strongest half-year in 2022” – L&G
13th May 2022
The US pension risk transfer (PRT) market had its largest quarter in Q1 2022 with an estimated volume of $5.5bn, according to the latest Pension Risk Transfer Monitor from Legal & General. The insurer said that the first three months of 2020 and 2021 saw volumes of $4.5bn and $3.8bn. This, ... Read the full article