Reinsurance News
VIPR appoints Tony Russell as Chief Revenue Officer
15th March 2024
VIPR, a leading technology solutions provider in the delegated underwriting sector, has appointed Tony Russell as its Chief Revenue Officer. VIPR has reportedly brought on Russell to spearhead revenue growth and market expansion. As Chief Revenue Officer, his remit will include a focus on leveraging VIPR's advanced technological capabilities to meet the ... Read the full article
bolttech expands into Middle East through partnership with stc Group
15th March 2024
bolttech, an international insurtech firm, recently announced its expansion into the Middle East through a new partnership with stc Group, a telecommunications company in the region. Rob Schimek, Group Chief Executive Officer at bolttech, expresses his enthusiasm for this strategic collaboration: “stc Group is an ambitious digital leader, always striving to ... Read the full article
Hamilton secures $200m of named storm & quake retrocession with new cat bond
15th March 2024
Bermuda-headquartered Hamilton Insurance Group, Ltd. has sponsored a new catastrophe bond, providing the firm with $200 million of retrocession from the capital markets to protect against U.S and territories named storm and North American earthquake risk. Easton Re Ltd. (Series 2024-1) is the second catastrophe bond sponsored by Hamilton Insurance ... Read the full article
Lockton Re Capital Markets hires Brendan Roche as Head of Distribution
15th March 2024
Lockton Re Capital Markets (LRCM) has appointed Brendan Roche as Head of Distribution, where he will be based in Europe. Roche holds over 25 years of experience in the industry, having previously served as SVP at GC Securities, and an almost 14-year tenure at Marsh, chiefly as Global Leader of ILS ... Read the full article
ICW Group promotes Paul Zamora to CUO
15th March 2024
California-domiciled privately held insurance company, ICW Group Insurance Companies, has promoted Paul Zamora to the role of Chief Underwriting Officer (CUO). Zamora’s remit in the role includes leading the company’s property and casualty multi-line underwriting strategy and business expansion. He will also continue leading the workers’ compensation underwriting and risk management ... Read the full article
Insurer Kita to help manage OxCarbon’s buffer pool
15th March 2024
Specialist carbon insurance company, Kita has agreed to provide advanced management of non-for-profit and UK-based carbon standard, OxCarbon’s buffer pool. Through its ‘Buffer as a Service' product, Kita will reduce risk for OxCarbon by employing active risk management for the OxCarbon buffer, with project-specific risk assessment based on insurance-driven technical underwriting ... Read the full article
Earnix and Sollers Consulting partnership to modernise insurance processes with AI
15th March 2024
Earnix, a provider of AI-based SaaS solutions, has partnered with Sollers Consulting, a software integrator and operational advisor, to deliver cutting-edge solutions across the property and casualty (P&C) insurance market in the UK, US, France, Benelux, Nordics, and DACH. Through this partnership, clients will be able leverage advanced analytics, machine learning, ... Read the full article
Debenhams Pension Scheme agrees on £600m bulk transfer to Clara-Pensions
15th March 2024
Pension scheme trustees for Debenhams have agreed to enter into a superfund deal with Clara-Pensions, a transaction that will see the transfer of £600 million of the former British retailer's pension assets to Clara. When Debenhams collapsed in 2019, over 10,000 members of its pension plan were transferred to the UK’s ... Read the full article
H.W. Kaufman appoints Jacqueline Legrand to its London Board
15th March 2024
H.W. Kaufman Group, a privately held global insurance organization, has appointed Jacqueline Legrand to its London Board of Directors. Legrand’s remit in the role will include assisting the company's leadership in exploring other new regions globally. Jodie Kaufman Davis, Executive Vice President, commented, "For nearly 15 years, Kaufman has aggressively expanded ... Read the full article
AM Best assigns Arch Group Re A+ rating
14th March 2024
Credit ratings agency AM Best has assigned Arch Group Reinsurance Ltd. (Bermuda) a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa-” (Superior). The outlook assigned to these ratings is stable. The ratings agency added that these reflect the reinsurer's balance sheet strength which has been ... Read the full article
LGRA and RGA complete $700mn pension risk transfer with FirstEnergy
14th March 2024
Legal & General Retirement America (LGRA) and Reinsurance Group of America (RGA) have partnered to complete a $700 million pension risk transfer (PRT) transaction with US-based FirstEnergy. The transaction will secure the retirement benefits of approximately 2,000 retirees from the investor-owned electric utilities company. LGRA is lead administrator and will be fully ... Read the full article
Markel promotes Oliver Atkin to Head of Bloodstock for London Market
14th March 2024
Markel, the insurance operation within Markel Group Inc., has promoted Oliver Atkin as Head of Bloodstock in London, effective immediately. He will report directly to Juliet Redfern, Divisional Managing Director of Equine and Livestock at Markel International in London and France. Redfern commented, "Congratulations to Ollie Atkin on his well-deserved promotion ... Read the full article
Carrie Byler appointed MD, Head of US General Casualty, Howden Tiger
14th March 2024
Howden Tiger, the reinsurance and capital advisory arm of Howden Group, has announced that Carrie Byler has joined the company’s Global Casualty Division, taking on the role of Managing Director, Head of US General Casualty. Reporting to Global Head of Casualty, Josh Everdell, Byler will focus on the growth of casualty ... Read the full article
Insurers exiting high-risk areas as climate losses rise 360%: Bloomberg
14th March 2024
Bloomberg Intelligence (BI) has said that a 360% rise in insured losses in the past three decades from the increased frequency and intensity of natural disasters is causing insurers to "hike premiums and exit high-risk areas,". At the same time, transition risk associated with the assets backing these liabilities is said ... Read the full article
Lloyd’s and BMA spark initiative to drive innovation and education access
14th March 2024
The Lloyd’s insurance and reinsurance market and the Bermuda Monetary Authority (BMA) have committed to developing an initiative that will reportedly drive closer collaboration and alignment on sharing risk expertise between the two major (re)insurance hubs. Lloyd's stated that the focus of this initiative will be on fostering innovation through the ... Read the full article
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