Reinsurance News
AXA XL appoints Anne Marie Elder to newly created role Global CUO, Specialty
9th February 2024
AXA XL has appointed Anne Marie Elder to the newly created role of Global Chief Underwriting Officer, Specialty, effective April 1. Elder currently serves as AXA XL's Global Chief Underwriting Officer, Marine, having joined the business in 2011. Before this, she held positions with The Hartford, Allianz and CNA Insurance. According to AXA ... Read the full article
Mitsui Sumitomo (EU) appoints Martyn Rodden as Interim CEO, confirms new trading name
9th February 2024
Japanese insurer Mitsui Sumitomo Insurance’s UK subsidiary, Mitsui Sumitomo Insurance Company (Europe), Limited (MSI EU), has appointed Martyn Rodden as Interim Chief Executive Officer (CEO), effective immediately. The appointment is subject to regulatory approval, with Rodden reporting to Hironori Morimoto, MSI’s Managing Executive Officer in the UK. Simultaneously, MSI EU has confirmed ... Read the full article
‘Resilience’ emerges as key theme in global insurance landscape in 2023: Aon
8th February 2024
In a comprehensive analysis of the global insurance landscape, Aon's latest report for Q4 2023, led by Joe Peiser, Chief Executive Officer of Commercial Risk Solutions, highlights resilience as the defining theme of the year. Despite economic volatility, geopolitical instability, and mounting climate concerns, communities and businesses have demonstrated remarkable resilience. The ... Read the full article
Fairfax responds to Muddy Waters accusations over its valuation
8th February 2024
Canadian financial holding company, Fairfax Financial Holdings Limited, has refuted claims in a recent report from Muddy Waters that the firm has "consistently manipulated asset values and income" by engaging in certain transactions, including those with insurance entities. Short-seller Muddy Waters released a report earlier today confirming it is short on ... Read the full article
McGill and Partners name Josef Heiler as Partner in the Fac Reinsurance, Germany
8th February 2024
Specialty re/insurance broker, McGill and Partners, has named Josef Heiler as a Partner in the Facultative Reinsurance team in Hannover, Germany, as it looks to strengthen its European presence. In his new role, Heiler will work with the McGill and Partners facultative colleagues globally, as well as the firm’s partners and ... Read the full article
Boost Insurance secures $130m in reinsurance capacity for expansion
8th February 2024
Boost Insurance, an insurance infrastructure platform, has announced a significant milestone with the securing of over $130 million in new reinsurance capacity. This capital injection will fortify Boost's position in supporting Managing General Agents (MGAs), insurtech firms, and embedded insurance programs. The expansion includes renewing treaties with existing reinsurers and welcoming new ... Read the full article
AM Best amends Canopius subsidiaries outlooks to stable
8th February 2024
AM Best has revised the outlooks to stable from negative and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Canopius US and Canopius Re, wholly owned subsidiaries of Canopius Group. According to AM Best, the ratings reflect Canopius’ balance sheet strength, ... Read the full article
Brookfield Reinsurance sees $453 million net income in Q4’23
8th February 2024
Brookfield Reinsurance reported a net income of $453 million in the fourth quarter of 2023, compared to a net income of $181 million for the prior year quarter. For the full-year 2023, Brookfield posted net income of $797 million, compared to $501 million in 2022. The firm also posted $745 million of ... Read the full article
Thad Hall to lead Augment Risk’s newly launched ILS division
8th February 2024
Reinsurance brokerage firm Augment Risk has launched a dedicated insurance-linked-securities (ILS) division, led by newly appointed Thad Hall. The division is a big step forward in Augment's commitment to innovation across the reinsurance brokerage sector. Based in New York, Hall joins the firm following a three year tenure at Ledger Investing, where ... Read the full article
Nirvana names Andrea García-Beltrán as Head of Cyber Europe
8th February 2024
Nirvana, a UK-based specialty MGA, has appointed Andrea García-Beltrán to the newly-created position of Head of Cyber Europe. García-Beltrán, a seasoned veteran in cyber insurance, will assume her role in March. She brings a wealth of experience, having served as Head of Cyber Underwriting at RSA until 2022, followed by a ... Read the full article
California storms leave 543,000 homes at risk of flash flood damage: CoreLogic
8th February 2024
CoreLogic, the global provider of property information, analytics, and data-enabled solutions, estimates that across the greater Los Angeles area, nearly 543,000 single- and multifamily homes with a combined reconstruction cost value (RCV) of more than $258 billion are at risk of flash flood damage. Reconstruction cost value is the overall cost ... Read the full article
AIG adds former National Cyber Director John Inglis to Board
8th February 2024
The Board of Directors of global insurer American International Group, Inc. (AIG) has elected John Inglis to serve as an Independent Director, effective March 1st, 2024. Inglis is a former National Cyber Director. He was also an advisor to the President of the United States, Joe Biden on cybersecurity from 2021 ... Read the full article
AdvangtageGo partners with claims management system provider DOCOsoft
8th February 2024
AdvantageGo, a commercial re/insurance software provider and part of Coforge, has struck a strategic alliance with claims management system provider DOCOsoft. "DOCOsoft’s integrated claims management platform provides market-leading claims management solutions to a client base of top-tier P&C (re)insurance carriers in London and around the world, processing nearly 20 million claims ... Read the full article
Markel names Katie Costello Head of Hull and War
8th February 2024
Markel has named Katie Costello Head of Hull and War in a move that will reportedly bolster the London underwriting leadership team and position the Hull and War portfolio for further growth. In her new role at Markel, Costello is tasked with building on the firm's track record in the Hull ... Read the full article
Fosun reportedly recommencing sale of Hong Kong-based Peak Re
8th February 2024
Fosun International Ltd. has ostensibly renewed its plan to sell Hong Kong-based Peak Re, seeking a valuation of about $1 billion, according to a new report from Bloomberg. Citing people familiar with the matter, Bloomberg said that BNP Paribas SA is helping Fosun find a buyer for its majority stake in ... Read the full article
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