Reinsurance News
Martin Reith steps down as CEO of Helios, successor search begins
7th June 2024
Helios has revealed that Martin Reith has stepped down from his role as Chief Executive Officer. Michael Wade, currently Non-Executive Chairman, will immediately become Executive Chairman as the search for Reith's successor begins. Meanwhile, Nigel Hanbury, currently Executive Deputy Chairman, will become Non-Executive Deputy Chairman. Michael Wade, Executive Chairman of Helios, commented, ... Read the full article
Lockton Re appoints James Mackay as Head of Lloyd’s Capital
7th June 2024
Lockton Re, the reinsurance arm of independent insurance broker, Lockton, has appointed James Mackay in a new role as the Head of Lloyd’s Capital, based in London. Robert Bisset, Chairman of Global Retrocession & Property Specialty, Bermuda, and Market Capital, commented, "James is an excellent hire for Lockton Re and adds ... Read the full article
Ardonagh Advisory acquires BP Insurance Brokers
7th June 2024
The SME broking platform of The Ardonagh Group, Ardonagh Advisory, has acquired BP Insurance Brokers (BPIB), a provider of commercial and personal insurance services based the UK. Ardonagh Advisory includes brands such as Bravo Networks, Footman James, Hera Indemnity, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan, and Usay Compare. Established ... Read the full article
AXA XL appoints Noel Pearman as new CUO, Bermuda
7th June 2024
As part of the recently announced insurance underwriting operations reorganization in the Americas, which aligned its three business segments under Large Commercial, Mid-Market and Professional, AXA XL, the property & casualty (P&C) and specialty risk division of global insurer AXA, has appointed Noel Pearman as the Chief Underwriting Officer ... Read the full article
Gallagher Re promotes April Engelman to COO of North American region
7th June 2024
Global reinsurance broker Gallagher Re has appointed April Engelman as its Chief Operating Officer (COO) for the North American region, effective immediately. She replaces Mark Hansen, who was recently promoted to Gallagher Re's Chief Operating Officer. Engelman will be based in Minneapolisand will report to Brian Flasinski, who was recently ... Read the full article
VIG establishes EU-funded cyber security programme to combat rising threats
7th June 2024
Vienna Insurance Group (VIG) has launched a comprehensive Cyber Defence Center programme (CDC) to enhance protection against the growing threat of cyberattacks. This initiative receives financial support from the European Union through the European Cybersecurity Competence Centre. The risk of cyber-attacks on companies continues to rise, particularly with new threats driven by ... Read the full article
Howden selects AutoRek to boost digital transformation across key back-office processes
7th June 2024
Howden, the global insurance intermediary group, has selected software provider AutoRek to boost the efficiency of key back-office processes through intelligent automation. According to the announcement, this new partnership is anticipated to help Howden centralise and streamline areas of its Insurance Broker Accounting (IBA) operations, ultimately increasing capacity for future growth and ... Read the full article
CNA joins Euclid Transactional’s North American program
7th June 2024
Euclid Transactional, a managing general agent (MGA) specialising in transactional insurance underwriting and claims handling, has announced that CNA has joined its North American transactional insurance program. CNA has been part of Euclid Transactional's Europe, Middle East, and Africa program since early 2022. This expansion into the North American program reflects CNA's ... Read the full article
Continuity latest funding round to boost development and enhance innovation capabilities
7th June 2024
Continuity, a “pioneer” in leveraging artificial intelligence and external data for professional and commercial P&C insurers, has raised €10 million Series A funding round to boost enterprise insurance with artificial intelligence-driven risk detection. Established in 2019, Continuity offers innovative SaaS solutions that utilise external data and AI to improve risk selection ... Read the full article
Paul Jones takes charge of Lockton UK’s specialised Parametrics Practice
7th June 2024
Insurance brokerage Lockton has appointed Paul Jones as the leader of Parametric Solutions for the UK & Europe in its Property & Casualty (P&C) Specialties division. Jones commented: “I am thrilled to be joining Lockton to develop its Parametric proposition to clients. It is a really exciting time to come on ... Read the full article
Emerald Bay teams with Arrowhead to launch commercial earthquake facility
6th June 2024
Emerald Bay Risk Solutions, the collaborative underwriting carrier, has entered into a strategic partnership with Arrowhead to launch a commercial earthquake facility named Arrowhead EQ DIC, that will provide difference in conditions (DIC) insurance policies for medium to large businesses. If you recall, Emerald Bay Risk Solutions launched in March ... Read the full article
Thompson appointed AUL CEO, Keith to lead Ascot Bermuda Limited
6th June 2024
Ascot, a Bermuda-based global specialty insurance company, has appointed Ian Thompson as Chief Executive Officer and Director of Ascot Underwriting Limited (AUL) and Justin Keith as President and Chief Executive Officer of Ascot Bermuda Limited. Thompson is taking over the London-based role from Jonathan Zaffino. As CEO and Director of AUL ... Read the full article
Final UK Solvency II rules ensure a more distinct regime with greater flexibility: KPMG
6th June 2024
Following the PRA's publication of PS10/24, the final set of rules for the UK version of Solvency II, Huw Evans, Head of Insurance at KPMG UK, has underlined several improvements that will reportedly work better for the UK than the original regime. According to Evans, the final set of rules are ... Read the full article
CFC launches upgraded cyber risk heat map focused on key exposures
6th June 2024
CFC, a specialist insurance provider, has updated its cyber risk heat map to offer more detailed insights into key exposures across various industry sectors such as construction, education, healthcare, transport, and logistics. Drawing from CFCs own claims data and external trends observed by its incident response team, this user-friendly tool presents ... Read the full article
CNA Financial names Worman CEO, Robusto transitions to Exec Chairman
6th June 2024
Chicago-domiciled insurer, CNA Financial Corporation, has promoted Doug Worman, currently the Executive Vice President & Global Head of Underwriting to President and Chief Executive Officer (CEO), effective January 1, 2025. Simultaneously, Dino E. Robusto, the current Chairman and CEO, will transition to the role of Executive Chairman of CNA's Board of ... Read the full article
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