Reinsurance News
Mosaic Insurance bolsters global transactional tax-liability team with two key hires
14th May 2024
Specialty insurer Mosaic Insurance has bolstered its global transactional tax-liability team by appointing two tax-risk specialists: Camille Zabukovec and Roktim Kaushik. Zabukovec joined Mosaic's London office as a Assistant Vice President, Tax Underwriter, supporting the transactional team on tax risks in jurisdictions outside North America. Overall, she brings a solid level of ... Read the full article
Insurance Europe urges EC to deliver on Solvency II deal
14th May 2024
Insurance Europe has written a letter to the European Commission (EC) calling for the technical negotiations of the EU’s Solvency II review to stay aligned with the political agreement and EU goals on climate change, financing the green and digital transitions, the Capital Markets Union and increasing competitiveness. The letter was ... Read the full article
F&G Annuities & Life names John Currier as President
14th May 2024
F&G Annuities & Life, Inc. (F&G), has appointed John Currier as President, where he will maintain his reporting line to CEO Chris Blunt while overseeing the Retail Markets business unit alongside his new role. Before becoming President of F&G, Currier held the role of President of Retail Markets starting in February ... Read the full article
Responsible use of AI critical to consumer trust: Swiss Re’s Levy
14th May 2024
As the insurance market and its customers realise the potential of artificial intelligence (AI), it is yet not very clear how to apply the technology in a way that delivers enhanced engagement, and in turn, sales, Swiss Re’s Daniel Levy has stated. Principal Risk Consultant Levy has recently explored how insurers ... Read the full article
BMO Capital Markets reports unfavourable inflation and reserving trends
14th May 2024
In a recent report from BMO Capital Markets, analysts suggest that companies are coming to the realisation that more recent 2020-2023 vintages are also slightly under-reserved, similar to older 2019 and prior vintages. The report highlights that recent vintages also require a higher inflationary trendline factor; similar to business written during ... Read the full article
Florida Citizens raises 2024 risk transfer budget to $750m
14th May 2024
Florida’s Citizens Property Insurance Corporation, the state's insurer of last resort, is still targeting as much as $5.5 billion of reinsurance coverage for 2024 but has increased the budget for the entire program to up to $750 million. Documents show that across traditional reinsurance and capital markets risk transfer, Citizens is ... Read the full article
Underwriting expert Torres to expand XPT Specialty’s personal insurance lines division
14th May 2024
XPT Specialty, a wholesale broker for commercial and personal insurance, has announced the appointment of Suzette Torres as Vice President of Personal Lines, who joins the business to spearhead the growth for this line of products. Torres’ addition, XPT Specialty stated, will help expand the company’s set of offerings for retail ... Read the full article
Stable P&C market conditions set to continue into 2025: Hannover Re CEO
14th May 2024
Jean-Jacques Henchoz, CEO of global reinsurer Hannover Re, has suggested that the stable outlook for the P&C market is set to continue, given there are no significant new entrants in the space. Henchoz's comments stem from Hannover Re's opening quarter earnings call, in which he noted that the environment is currently ... Read the full article
Coaction adds Christopher Cavallaro to Board of Directors
14th May 2024
Christopher Cavallaro is joining Coaction’s Board as Independent Board Director, effective in May of 2024. Cavallaro joins the specialty P&C insurer’s Board having built a distinguished career in the professional lines space, including founding ARC Excess & Surplus in 1986. Prior to ARC, he served as Senior Vice President of Management and ... Read the full article
AXA XL Re appoints Ian Sawyer as Head of London Casualty, Reinsurance
14th May 2024
AXA XL Reinsurance has announced the appointment of Ian Sawyer to the newly expanded role of Head of London Casualty, Reinsurance. In his new capacity, Sawyer will be responsible for the US and International Casualty Treaty propositions in London and will spearhead the company’s Cyber Reinsurance offering globally. Marcus Gonzales, Head of ... Read the full article
Jensten unveils strategic restructure to drive further growth
14th May 2024
UK broker and underwriter Jensten has announced a strategic restructure which is anticipated to help the business drive further growth and bolster continued acquisition success. It has been confirmed that the organisation is splitting its Wholesale division, with the Jensten London Market business unit reporting to the core broking trading division ... Read the full article
Brazil floods to increase demand for catastrophic risk coverage: S&P
14th May 2024
As per a new report from S&P Global Ratings, the recent floods in Rio Grande do Sul, Brazil, may increase demand for catastrophic risk coverage, likely pushing up prices and premiums for this coverage type. Heavy rains started in Rio Grande do Sul, Brazil’s fifth-largest economic state, on April 28, and ... Read the full article
Aon launches comprehensive carbon capture and storage insurance solution
14th May 2024
Aon has developed a new insurance product for international transport and storage companies engaging in storing carbon dioxide. According to the firm, this new product will provide cover for key risk exposures associated with Carbon Capture and Storage (CCS). It is also aimed at advancing the role of insurance in de-risking global ... Read the full article
Hamilton names Wilfred Chin as Group Chief Actuary
14th May 2024
Bermuda-domiciled re/insurer Hamilton Insurance Group, Ltd. has appointed Wilfred Chin to the newly-created Group Chief Actuary role, effective May 1st, 2024, reporting to Alex Baker, Group Chief Risk Officer. Chin joined Hamilton in late 2023 from Tokio Marine Kiln as Chief Actuary at Hamilton Global Specialty. His remit in his new ... Read the full article
Everest Insurance expands APAC presence with launch of Australian arm
14th May 2024
Everest Insurance, the insurance arm of Bermuda-based re/insurer Everest Group, Ltd., has officially launched its Australian Insurance operations after receiving approval from the Australian Prudential Regulation Authority. This launch is key in expanding the company's Asia Pacific business, and the new entity will operate as Everest Insurance Australia with offices established ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
