Reinsurance News
Rokstone announces launch of new US Sports & Leisure Casualty division
10th July 2024
Rokstone, an international specialty (re)insurance MGA within the Aventum Group, has announced the launch of its new Sports & Leisure Casualty division in the United States. Heading this initiative is Charles Landrum, a professional in the US commercial casualty market with over four decades of expertise in crafting specialised solutions for ... Read the full article
Tokio Marine HCC Specialty’s Bert Van Wagenen retires, Bouchard becomes SVP
10th July 2024
Tokio Marine HCC - Specialty Group, part of the Tokio Marine HCC group of companies, has announced the retirement of Bert Van Wagenen, effective July 1, 2024. Van Wagenen, a renowned figure across the industry, has dedicated forty-four years of service to Tokio Marine HCC. Sean Curtin, Specialty Group’s President, commented: “Bert has ... Read the full article
Novatae Risk acquires Denali Specialty
10th July 2024
Novatae Risk Group, a wholesale insurance brokerage, managing general agency, and program manager, has announced its acquisition of Denali Specialty Group's assets. Founded in 2019, Denali Specialty Group is a full-service insurance intermediary led by Michael Eichhorn, Kerri Senger, and Paul Krutek, with a leadership team boasting decades of experience. Denali ... Read the full article
Michael Fish to head The Hartford Group Benefits, Bassett named global CUO
10th July 2024
Property and casualty insurer, The Hartford has announced the appointment of Michael Fish, the current chief operating officer for Group Benefits, as the new head of Group Benefits. He will succeed Jonathan Bennett, who will retire at the end of 2024 after 25 years with the company. Additionally, H. Clay Bassett Jr. ... Read the full article
SageSure, Anchor Re, and SURE close $60m catastrophe bond
10th July 2024
SageSure, Anchor Re, and SureChoice Underwriters Reciprocal Exchange (SURE) have announced the closing of the Gateway Re 2024-4 catastrophe bond at $60 million—20% higher than the original $50 million target. This marks the eighth transaction in the Gateway Re series, bringing SageSure-supported risk capital for underwriting partners to $1.2 billion in ... Read the full article
Assured Guaranty to merge US financial guaranty insurers
10th July 2024
Assured Guaranty Municipal Corp. (AGM), an Assured Guaranty Ltd. subsidiary that provides financial guarantees for municipal bonds, will merge with Assured Guaranty Inc. (AG), a company that offers financial guarantees and credit enhancement products, anticipated to take effect on August 1, 2024. The merger of AGM and AG into a single ... Read the full article
AEGIS London reveals new Data Science and Analytics team to enhance underwriting
10th July 2024
Lloyd's syndicate AEGIS London has established a new Data Science and Analytics team to enhance underwriting capabilities and data-driven initiatives, Led by Giuseppe D'Angelo, Head of Data Analytics and Portfolio Underwriting. The newly formed team reportedly comprises a group of Data Scientists, managed by AI and Data Science expert, Dan Hirlea, ... Read the full article
Businesses must do better to understand complexity of Business Email Compromise: GC
10th July 2024
Business Email Compromise (BEC), a form of phishing that involves attackers manipulating individuals into unintentionally facilitating fraudulent activities, an often overlooked cyber threat, is considered to be one of the most financially damaging cyber threats across the sector, according to Guy Carpenter, the global risk and reinsurance specialist and business ... Read the full article
Christine LaSala joins James River’s Board
10th July 2024
James River Group Holdings, a Bermuda-based insurance holding company, has announced the appointment of industry veteran Christine LaSala to its Board of Directors as an independent, non-executive member. With LaSala's appointment, the Board has expanded from seven to eight directors. She will serve on both the Compensation and Human Capital Committee ... Read the full article
Marsh McLennan Agency to acquire Illinois-based broker Horton
10th July 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire The Horton Group, Inc., a full-service insurance brokerage based in Illinois, US. Horton, which was founded in 1971, offers property and casualty insurance, employee benefits consultation, and personal lines coverage to businesses and individuals across Indiana, ... Read the full article
BMS Re appoints Aon’s Farah Nelson as US CFO
10th July 2024
BMS Re, the reinsurance division of global broker BMS Group, has announced the appointment of Farah Nelson as Chief Financial Officer (CFO) in the US and as a new member of the company’s Board, based in New York. In her new role, Nelson will directly report to Charlie Rozes, Group CFO ... Read the full article
Aviva completes £249m acquisition of Probitas
10th July 2024
Aviva has completed the acquisition of Probitas Holdings (Bermuda) Limited for a consideration of £249 million, marking the firm’s entry into the Lloyd’s market. If you recall, back in March, it was revealed that Aviva would acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas ... Read the full article
Aon names Marguerita Silitonga as President Director, Reinsurance Solutions, Indonesia
10th July 2024
Global insurance and reinsurance broker Aon has appointed Marguerita Silitonga as President Director of Reinsurance Solutions in Indonesia, effective immediately, based in Jakarta. Silitonga will have a reporting line to Musa Adlan, Executive Director and Head of Reinsurance Solutions in South East Asia at the broker. In her new role, Silitonga ... Read the full article
MAPFRE RE names Estevez Chief of Tokyo Representative Office
10th July 2024
Global reinsurer MAPFRE RE has appointed Alberto Estevez Allegue as Chief Representative Officer of its Representative Office in Tokyo, Japan, effective 1 July 2024. Estevez began his MAPFRE career in 2012 at MAPFRE Asistencia’s MAPFRE Warranty Japan, where he served as Finance and Strategic Planning Manager for the APAC region, based ... Read the full article
Florida Citizens purchases just $3.564bn of reinsurance for 2024 risk transfer program
10th July 2024
Citizens Property Insurance Corporation, Florida’s property insurer of last resort, has confirmed that it bought a lot less reinsurance than the $5.5 billion target announced back in April, securing a "cost-efficient" risk transfer program of approximately $3.564 billion. Previously, the Board of Governors approved Citizens targeting total reinsurance coverage of ... Read the full article
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