Reinsurance News
Underwriting profitability to return, but rate momentum to fade for re/insurers: Fitch
18th January 2022
With carriers poised to report their Q4 and full-year financials in the coming weeks, analysts at Fitch Ratings forecast underwriting profitability for Bermuda-based insurers and reinsurers in 2021, alongside a deceleration of rate increases through the June and July renewals. Despite 2021 being another year of above-average catastrophe activity and subsequent ... Read the full article
Markel Intl. makes two leadership changes
18th January 2022
Markel International, a subsidiary of the Markel Corporation, has appointed Louise Foley as head of marine and energy liability, and Holley Higgins as head of transport and logistics, both reporting to Andrew Carter, head of liability at Markel International. Foley will hold responsibility for all marine liability and energy liability writings, ... Read the full article
Acrisure Re names Ming Li as Global Head of Cat Modeling
18th January 2022
Acrisure Re, the re/insurance broker and fintech platform of Acrisure, has announced the appointment of Ming Li to the new role of Managing Director and Global Head of Catastrophe Modeling. Effective January 18th, he will be based in New York and will report to Michael Cross, President of Acrisure Re North ... Read the full article
Gallagher makes Regional Managing Director appointment
18th January 2022
Global re/insurance broker Gallagher has appointed Elliot Miller as Regional Managing Director for Scotland, Northern Ireland and the North East of England. Miller will report into Peter Matthews, Managing Director of the North in Gallagher’s UK Retail division, and will be based in Glasgow. He brings over 35 years of experience within ... Read the full article
WTW appoints Julie Baker to new role
18th January 2022
WTW has appointed Julie Baker to be its new lead relationship management for the banking sector. Baker will begin her role in April, moving to WTW after working for over two decades at Marsh. There, she designed and managed bespoke financial lines programmes for a broad spectrum of financial services clients ... Read the full article
Cyber market still hardening as underwriting view shifts: analysts
18th January 2022
Analysts at some of the top re/insurance brokers have noted that the cyber reinsurance market is continuing to see hardening rates following another challenging year for losses in this sector. Gallagher Re classified the primary cyber markets as “truly hard” at recent renewals, but said there is still room for reinsurance ... Read the full article
DARAG completes motor PTA with SADA Assurances
18th January 2022
Leading legacy acquirer DARAG Group has completed the motor Portfolio Transfer Agreement (PTA) with French insurer SADA Assurances, a subsidiary wholly owned by the German group DEVK Versicherungen. DARAG now provides economic and operational finality for a portfolio of all of SADA’s motor business, which comprises French motor third party liability, ... Read the full article
Swiss Re’s Magnum Go receives Digital Trust Label
18th January 2022
Swiss Re’s Magnum Go, an automated underwriting engine designed for life insurance, has been certified with the Digital Trust Label (DTL). Done through the Swiss Digital Initiative (SDI), the DTL designed to help users identify trustworthy digital certificates. Moses Ojeisekhoba, CEO Reinsurance of Swiss Re, said: “We strongly believe in digital responsibility ... Read the full article
LMG welcomes inquiry into UK’s commercial re/insurance market
18th January 2022
The London Market Group has welcomed The House of Lords Industry and Regulators Committee’s inquiry into the regulation of the London insurance market, which was announced recently. The inquiry is to “explore the extent to which regulatory policy is well-designed and proportionately applied and the possibilities for optimising policy following ... Read the full article
Canopius names Trevor Moss as Head of Investor Relations
18th January 2022
Global specialty insurer and reinsurer, Canopius Group, has hired Trevor Moss from Agency Partners as Head of Investor Relations, effective March 2022. In his new role, Moss will work with investors, analysts and banks to offer the firm an 'outside-in' perspective of its market, as part of the re/insurer's continued investigation ... Read the full article
Ardonagh Specialty grows cross class follow capacity solution
18th January 2022
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist, reinsurance and wholesale broking brands, has further expanded its cross-class follow-capacity solution to include Price Forbes’ property business. The cross class follow capacity solution was launched in partnership with Beazley back in April 2021 for ... Read the full article
MGA Aqueous adds trio to underwriting team
18th January 2022
Specialist MGA Aqueous Underwriting has expanded its underwriting team with the addition of three new hires. Senior Underwriter Louise Redmond and Underwriter Debbie Farman join the MGA’s PI team, whilst Trading Underwriter Liam Wilson joins its e-trade team specialising in SME Package business. Redmond has over 20 years’ market experience and joins ... Read the full article
Willkie Farr & Gallagher names partners for Transactional and Regulatory Practice
18th January 2022
Willkie Farr & Gallagher has announced that Melanie James and Tim Baumgartner have joined the firm’s Insurance Transactional and Regulatory Practice as partners. Both appointments will be based in Willkie’s London office, having previously been partners at an international law firm, where James also served as Global Co-Chair, Insurance Sector. James brings ... Read the full article
MAPFRE reports reinsurance growth
18th January 2022
Spanish insurer MAPFRE has released a breakdown of the growth in its written premiums between December 2020 and December 2021, revealing that its reinsurance business grew by 12.8% in this time. The latest results follow the company’s reporting in October that its reinsurance business had grown 14.5% in the first ... Read the full article
Brit bolsters Property Facilities team
18th January 2022
Specialty insurer Brit has added Joanne Allen and Thomas Poynder to its Property Facilities team, effective early January 2022. Allen joins Brit as Flood Class Underwriter, reporting to Sarah Mendola, Divisional Director. Poynder joins as Underwriter for Transportation, reporting into David Perkins, Class Underwriter, Transportation. Joining from Argo Global, Allen has more ... Read the full article