Reinsurance News
AM Best maintains stable outlook on global reinsurance amid positive pricing momentum
8th December 2021
Heightened demand for protection, continued positive price momentum and a disciplined underwriting environment has seen ratings agency A.M. Best maintain its stable outlook on the global reinsurance industry. AM Best's latest reinsurance market segment report highlights some positive and negative factors for the sector as the new year edges closer. Underpinning the ... Read the full article
Marsh makes senior FINPRO Specialty appointments
8th December 2021
Insurance broker and risk advisor Marsh has announced several senior leadership appointments within its Financial and Professional (FINPRO) Specialty. Effective 1 January 2022, Paul Denny is appointed as Global Specialty Head, FINPRO, Marsh Specialty. Additionally, Beth Thurston has been appointed UK CEO of FINPRO business, and Stephanie Manson as UK Management Liability ... Read the full article
Hiscox to expand RMS partnership
8th December 2021
Specialist global insurer Hiscox is working with RMS on extending and increasing use of the cat modeller's Location Intelligence API technology. The tech is designed to improve customer experience on a coverholder level, while also providing market-leading modelling data to enable high-resolution, location-level hazard, risk, and loss metrics. RMS Location Intelligence also ... Read the full article
Mercer forecasts £60bn of UK pension risk transfer activity in 2022
8th December 2021
Mercer has predicted combined bulk annuities, longevity swaps and new risk transfer solutions to reach £60 billion during 2022. This growth is attributed to a variety of factors, including pent-up demand and better affordability following significant improvements to funding levels of defined benefit (DB) pension schemes in 2021. Innovation in ... Read the full article
WTW secures placement of London Stock Exchange’s first SPAC
8th December 2021
Global broker Willis Towers Watson has secured the insurance placement of Hambros Perks Acquisition Company, the first ever listing of a Special Acquisition Company (SPAC) on the London Stock Exchange. A SPAC is a company that has no commercial operations and is formed strictly to raise capital. The vehicle aims to raise upwards ... Read the full article
Ascot launches new Space practice
8th December 2021
Specialty re/insurer Ascot has launched a new Space practice which will start as an Ascot led consortium at Lloyd’s of London. The practise will provide underwriting using advanced AI and machine learning risk modelling capabilities, combined with the extensive support services of Ascot. The consortium will offer Launch Vehicle Flight Only (LVFO), ... Read the full article
RSA names Ken Norgrove as CEO, UK & Intl.
8th December 2021
RSA has appointed Ken Norgrove as Chief Executive Officer (CEO), UK & International, succeeding Scott Egan who will be leaving the business at the end of 2021. Norgrove was most recently CEO of RSA Scandinavia from 2019 until completion of the deal in June 2021. Prior to that Ken was CEO of ... Read the full article
Markel partners with security insurance MGU Brownyard MacLean
8th December 2021
Specialist insurer Markel has announced a new strategic collaboration with Brownyard MacLean Security Insurance Services (BMSIS), a US-based managing general underwriter (MGU) and program administrator focused on the private security insurance market. The newly created BMSIS provides insurance products and services to the private security industry with a focus on underwriting ... Read the full article
Amwins Global Risks hands Nate Mathis permanent CEO role
8th December 2021
Amwins Global Risks, the international arm of global specialty insurance broker Amwins, has appointed Nate Mathis as its new Chief Executive Officer (CEO). Mathis was appointed as interim CEO in September after three years as Chief Operating Officer (COO). In his new role, he will oversee its London business that represents ... Read the full article
Global Atlantic promotes Manu Sareen to Co-President
8th December 2021
Global Atlantic Financial Group, a U.S.-focused annuity and life insurer, has announced the appointment of Manu Sareen as Co-President alongside Rob Arena, effective immediately. In his new role, Sareen will partner with Arena in supporting Chairman and Chief Executive Officer (CEO), Allan Levine, in operating the firm and executing its growth ... Read the full article
Guy Carpenter hires Isaac Sanday from WTW as Head of UK&I Life
8th December 2021
Guy Carpenter, the reinsurance broking division of Marsh McLennan, has named Isaac Sanday, previously of Willis Towers Watson (WTW), as Head of UK & Ireland Life, effective January 2022. In his new role, Sanday takes on responsibility for leading production and client delivery for the UK & Ireland, with a focus ... Read the full article
Aon hires Doug Melton as Global Analytics and Actuarial Leader, Health Solutions
8th December 2021
Re/insurance broker Aon has appointed Doug Melton as its new Global Analytics and Actuarial Leader, Health Solutions. In this newly created role, he is responsible for the development and execution of Health Solutions' analytics strategy to deliver additional value to clients through data, research and analytics. Prior to joining Aon, Melton was ... Read the full article
Amwins Specialty Auto enters MGA agreement in Florida with Buckle
7th December 2021
Amwins Specialty Auto, the non-standard auto insurance arm of Amwins Group, Inc., has entered into a managing general agency (MGA) agreement with Buckle, the inclusive tech-enabled financial services entity. The arrangement sees Amwins underwrite non-standard auto insurance for Buckle in Florida, as well as Buckle's gig auto insurance for rideshare and ... Read the full article
INARI recruits Chief Commercial Officer from AkinovA
7th December 2021
INARI, a core technology provider for the global insurance and reinsurance industries, has announced the appointment of Alexander Pike as Chief Commercial Officer to support its international growth strategy. Based in London, Pike will be INARI’s first UK employee, and will be tasked with the role of building out the company’s ... Read the full article
BRP Group seeking $250mn in loans
7th December 2021
Independent insurance distribution firm, BRP Group, Inc., has announced that its subsidiary, Baldwin Risk Partners, is seeking to enter into an incremental term loan facility amendment to its existing credit agreement. The move will see BRP borrow $250 million of new term B loans under its credit agreement. This would increase the ... Read the full article