Reinsurance News
Jennifer Gebran to head Markel’s MENA Casualty team
27th June 2024
Markel, the insurance operation within Markel Group Inc., has appointed Jennifer Gebran as Head of Casualty for the Middle East and North Africa (MENA) region. Based in Dubai, Gebran will be responsible for developing the region’s casualty underwriting strategy – one centred on enhanced underwriting capabilities and the delivery of profitable ... Read the full article
Slide secures $175m senior credit facility
27th June 2024
Slide Insurance, the technology-enabled insurance company, has secured a $175 million senior credit facility led by Regions Bank in its capacity as Administrative Agent, Joint Lead Arranger, and Joint Bookrunner. As well as this, Synovus Bank and Texas Capital Bank, through its TCBI Securities Inc. division, also supported the transaction as ... Read the full article
Howden (HCMA) expands European team, names Sébastien Bamsey as Managing Director
27th June 2024
Howden Capital Markets & Advisory (HCMA), the risk, capital and strategic advisory arm of the global insurance and reinsurance broking group, has appointed Sébastien Bamsey as Managing Director, based in London office, effective 15th July. This appointment is in line with the company’s planned expansion of its European team as it ... Read the full article
2024 already a top-4 year for US SCS insured losses: Bowen, Gallagher Re
27th June 2024
2024 has already ranked among the top four costliest years on record for insurance industry losses due to severe convective storms in the US, with insured losses from the peril already exceeding $31 billion, according to Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re. In a recent LinkedIn post, ... Read the full article
MSI reveals merger of equals plan for European subsidiaries
27th June 2024
Mitsui Sumitomo Insurance (MSI) has revealed plans to consolidate the talent and strength of its European subsidiaries, MS Amlin Insurance S.E. (MSAISE) and MSIG Insurance Europe AG (MSIGEU), in a merger of equals. According to MSI, which wholly owns both companies, a combined service offering across Europe will empower policyholders to ... Read the full article
Tokio Marine Kiln appoints Alexandra Barnes to Marine & Energy team
27th June 2024
Specialty insurer Tokio Marine Kiln (TMK) has appointed Alexandra (Alex) Barnes to its Marine & Energy team, starting this autumn. In the new role, she will be focusing on global energy risks and renewables. Barnes is an insurance industry veteran with 26 years of experience, having spent 21 of which focusing on ... Read the full article
Cyber warfare is not insurable: Munich Re’s Kreuzer
27th June 2024
In an interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager for Cyber Risks at Munich Re, emphasised that cyber warfare exceeds the company's risk appetite, nonetheless, the firm is actively collaborating with governments to exchange ideas around solutions for potential catastrophic cyber war scenarios. Kreuzer noted, “With the current wars ... Read the full article
AM Best assigns ratings to Securian Financial’s newly launched surplus lines insurance firm
27th June 2024
Securian Financial, a mutual holding company that provides a range of financial products and services, has launched Securian Specialty Lines, Inc., a new surplus lines insurance company, to provide additional innovative insurance solutions to financial institutions and associations. Credit ratings agency AM Best has assigned a Financial Strength Rating of A- ... Read the full article
MGA Optio appoints Deepak Soni as its new CEO
27th June 2024
Optio Group, a specialty managing general agent (MGA), has named Deepak Soni as its new Chief Executive Officer (CEO), a long-anticipated and carefully considered appointment by the company’s board and its private equity partners, Preservation Capital Partners. Soni brings extensive experience, strategic vision, and a proven track record of building businesses. He ... Read the full article
Lloyd’s unveils new Canadian Core Fixed Income Solution
27th June 2024
The world’s leading marketplace for insurance and reinsurance, Lloyd’s, has unveiled a new Canadian Core Fixed Income Solution on the Lloyd’s Investment Platform. According to Lloyd's, the new fund is designed to enhance investment outcomes within the Lloyd’s market’s Canadian fixed income allocation. "The solution offers efficient access to a broad asset ... Read the full article
Ardonagh’s Atlanta and Markerstudy complete merger to create personal lines platform
27th June 2024
The Ardonagh Group has confirmed that it has completed the merger between its personal lines broking business Atlanta Group and Markerstudy. If you recall, it was in September last year that the merger was first announced. The deal will see both Atlanta Group and Markerstudy merge to create a new platform ... Read the full article
Industry veteran Jacques Bonneau joins Brit Re Board
27th June 2024
Brit Ltd has appointed Jacques Bonneau to the Board of Brit Re as a Non-Executive Director, subject to regulatory approval. Brit noted that Bonneau will bring considerable experience, insight and relationships to the firm as it embarks on a strategic plan to expand its presence in Bermuda across property, casualty and ... Read the full article
Markel names Phil Schmidt as Chief Strategy Officer
27th June 2024
Markel, the insurance operations arm within the Markel Group Inc., has appointed Phil Schmidt as Chief Strategy Officer, effective immediately. Schmidt's remit in the role will include leading Markel's Global Strategy team, based in Bermuda. He's also responsible for engaging with major strategic initiatives and corporate development activities pursued across Markel ... Read the full article
Supercede raises $15m in Series A funding round
27th June 2024
Supercede, a reinsurance tech firm, has completed a $15 million Series A funding round, led by Alven with contributions from Mundi Ventures along with an existing investor roster that included Outward, Seedcamp, MMC Ventures, and AFG Partners. The funds, according to the firm, will be used to advance its mission to ... Read the full article
Surge in cyber insurance market fuelled by regulatory shifts and global tensions: Morningstar DBRS
27th June 2024
Morningstar DBRS, a global credit rating agency, emphasises that cyber insurance is rapidly growing and essential in the digital age, projected to soar to $40 billion by decade's end amidst rising cyber threats and stringent data regulations. Morningstar DBRS highlights that Cyber insurance is a relatively new type of insurance designed ... Read the full article
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