Reinsurance News
Mike James appointed chair of Finseca’s board of directors: NFP
7th June 2024
NFP, a middle-market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, has announced that Mike James has been appointed as chair of Finseca's board of directors. Finseca is an organisation comprising top financial security professionals dedicated to promoting financial and retirement security for individuals, families, and businesses. James, ... Read the full article
The Baldwin Group unveils digital placement platform for cyber
7th June 2024
The Baldwin Group has unveiled Cyber Navigator – its Application Program Interface (API)-connected cyber insurance placement platform. According to the announcement, business insurance buyers will be able to complete a digital application to receive quotes within minutes. As well as this, the platform also provides a competitive cost analysis and comparison of terms ... Read the full article
South Africa extreme weather events continue to test insurers
7th June 2024
The recent severe weather events in South Africa's Southern and Eastern regions since June 1 continue to test insurers’ ability to adapt to climate change, according to S&P Global Ratings. Heavy rainfall and flooding in parts of the Eastern Cape, along with tornadoes in KwaZulu Natal, have caused loss of life ... Read the full article
David Kirk appointed Division President of Chubb Global Markets
7th June 2024
Chubb, a global property and casualty insurance company, has announced the appointment of David Kirk as Division President of Chubb Global Markets, which encompasses the company's London Market wholesale and specialty business, including its Lloyd's operations. Kirk currently serves as Head of Marine & Deputy Chief Underwriting Officer for the division. ... Read the full article
NexPhase’s investment in Insurance Systems Inc. to support growth and expansion
7th June 2024
Private equity firm NexPhase has invested in Insurance Systems Inc. (ISI), a Canada-based provider of enterprise software solutions to the P&C insurance industry, to support the company’s continued growth in its existing markets. The investment, which terms were not disclosed, will also help position ISI for expansion into adjacent markets and ... Read the full article
U.S. P&C industry sees $9.3bn underwriting gain in Q1, CR improves to 94.2%
7th June 2024
The U.S. property & casualty (P&C) industry recorded a $9.3 billion net underwriting gain in the first quarter of 2024, marking a substantial improvement from the $8.5 billion loss recorded in the prior year period, according to global ratings agency AM Best. The turnaround in the personal lines segment was a ... Read the full article
The Geneva Association appoints Lee Yuan Siong as Chairman
7th June 2024
The Geneva Association has revealed that Lee Yuan Siong, Group Chief Executive and President of AIA, was appointed Chairman of the organisation at its spring 2024 board meeting on 5 June, succeeding outgoing Chairman Christian Mumenthaler, CEO of Swiss Re. The Geneva Association’s spring 2024 board meeting came ahead of the ... Read the full article
Guidewire makes strategic investment in Indico Data
7th June 2024
Guidewire, a platform provider for property and casualty (P&C) re/insurers, has made a considerable investment towards a $19 million funding round for Indico Data, a firm which automates critical workflows for enterprises in document-intensives industries, including insurance and financial services. The company's latest funding round was led by .406 ventures, and ... Read the full article
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
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