Reinsurance News
Ed Thomas joins Aon as Head of Lloyd’s Capital within Reinsurance Solutions Capital Advisory unit
16th July 2024
Global insurance and reinsurance broking group Aon has named Lloyd's of London's Ed Thomas as head of Lloyd’s Capital within its Reinsurance Solutions Capital Advisory team, based in London. In his new role, Thomas takes on responsibility for leading the broker's Lloyd’s-focused Capital Advisory services. He will have a focus on capital-raising ... Read the full article
TransRe announces key promotions to enhance cyber underwriting and services
16th July 2024
To better support the underwriting of a growing line of business and enhance product and service offerings, TransRe, a global reinsurer, has announced the promotion of Tina Kališnik to Global Portfolio Leader, Cyber, and Diana Liu to US Cyber Underwriting Leader. Tina Kališnik, who joined TransRe in 2016, has played a ... Read the full article
Insured nat cat losses to continue rising, warns Swiss Re’s Kera McDonald
16th July 2024
Global insured losses from natural disasters are expected to continue rising at an annual rate of 5-7% relative to GDP, according to Kera McDonald, Chief Underwriting Officer at Swiss Re Corporate Solutions. During Swiss Re’s recent media dialogue discussing its latest sigma report, McDonald emphasised the increasing severity of weather events, ... Read the full article
SiriusPoint and Irish MGA partner on property owners program
16th July 2024
Global speciality re/insurer SiriusPoint has announced its partnership with Service First Insurance, a managing general agent (MGA) that provides insurance solutions for the commercial and business markets in the Republic of Ireland. Service First’s distribution partnership with SiriusPoint will enable the MGA to underwrite commercial property risks of up to €10 ... Read the full article
Greta Hager to succeed Kai Talarek as Fortitude Re CFO
16th July 2024
Global multi-line reinsurer Fortitude Re has appointed Greta Hager as its new Chief Financial Officer (CFO), with Kai Talarek transitioning to the newly created role of Chief Growth & Optimization Officer, effective August 17th, 2024. Both Hager and Talarek will be reporting to Alon Neches, Chief Executive Officer (CEO) of the ... Read the full article
QBE launches global cyber policy to enhance client resilience
16th July 2024
Global insurer QBE has launched QCyberProtect, a comprehensive and consistent cyber policy designed to enhance cyber resilience for a diverse range of clients across the globe. QCyberProtect offers customised coverage for losses from various cyber risks, including network security breaches, privacy liability, IT and non-IT business interruptions, and reputational loss. It provides ... Read the full article
Chubb appoints Peter Kelaher as Division President of Continental EMEA
16th July 2024
Global property and casualty insurer Chubb has appointed Peter Kelaher as Division President of Continental Europe, Middle East and North Africa (EMEA), subject to regulatory approval. The appointment is expected to be effective September 1st, 2024. Based in Paris, Kelaher succeeds Sara Mitchell, who will be leaving Chubb. Kelaher will report to ... Read the full article
RAA and NOAA sign agreement to enhance severe weather risk assessment and communication
16th July 2024
The Reinsurance Association of America (RAA), a trade association representing property and casualty reinsurers, and the National Oceanic and Atmospheric Administration (NOAA), an US federal agency focused on the conditions of the oceans, major waterways, and the atmosphere, signed a memorandum of understanding (MOU). This agreement initiates their collaboration to assess ... Read the full article
Insurtech funding in LatAm falls to historic low at $26m in H124
16th July 2024
Insurtech funding in Latin America (LatAm) fell to a historic low of $26 million during the first half of 2024, marking a 78% decline from the same period in 2023. Looking at the period between July 2023 - June 2024, inclusively, the total rose to $43 million, marking the lowest figure ... Read the full article
West P&I appoints Katy Shearer as Chief Risk Officer to strengthen risk management
16th July 2024
West P&I, an insurance provider for the global maritime and offshore industries, has announced the appointment of Katy Shearer as Chief Risk Officer, adding her role to the Management Board of Directors. This decision highlights Shearer’s significant contributions to the business and underscores the company’s focus on the increasingly complex risk ... Read the full article
Jamaica to receive additional $10.3m from CCRIF after excess rainfall policy triggered
16th July 2024
Jamaica’s Minister of Finance, Dr. Nigel Clarke, has revealed that the country’s Excess Rainfall Policy with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been triggered following Hurricane Beryl, providing Jamaica with an additional $10.3 million of relief. This amount is in addition to the $16.3 million announced last week, ... Read the full article
GIC Re to implement SAP Fioneer’s technology to meet IFRS17 requirements
16th July 2024
In order to adopt the International Financial Reporting Standard 17 (IFRS17) by the official target date India's General Insurance Corporation (GIC Re) has chosen to implement SAP Fioneer’s Financial Products Subledger (FPSL) for Insurance solution offering. IFRS17 was introduced by the International Accounting Standards Board (IASB) and mandates significant changes in ... Read the full article
Markel names Rob Cole its Chief Actuarial Officer
16th July 2024
Markel, the insurance arm of Markel Group Inc., has appointed Rob Cole as the Chief Actuarial Officer. Cole will succeed Ron Herrig, who will be retiring at the end of 2024 after a successful 28-year career with Markel. Brian Costanzo, Chief Financial Officer, Markel, commented, "We are grateful for Ron's many contributions ... Read the full article
Fleming files lawsuit against James River and executives concerning JRG Re purchase
16th July 2024
Fleming Intermediate Holdings has reportedly filed a lawsuit for securities fraud, common-law fraud, and breach of contract in federal court against James River Group and its CEO and CFO concerning Fleming’s purchase of JRG Re from James River for approximately $300 million. For some background on this story, James River ... Read the full article
GCube unveils $100m Lloyd’s consortium to support BESS sector
16th July 2024
GCube Insurance, an underwriter for renewable energy products, has launched a new consortium, comprised of six Lloyd's syndicates, in a move that is set to provide battery energy storage system (BESS) developers and asset owners worldwide with up to US $100 million of 'A-rated' insurance capacity. It's important to highlight, that ... Read the full article
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