Reinsurance News
Marsh McLennan Agency acquires InSource
9th December 2021
Marsh McLennan Agency (MMA), a subsidiary of Marsh has acquired InSource Insurance Group, an independent agency in Texas. InSource Insurance Group was formed in 1986 to provide business insurance, employee health and benefits, private client, and surety services to the oil and gas, construction, manufacturing, and transportation industries. InSource will help lead ... Read the full article
Bermuda, Cayman & Barbados captives outperforming insurers: AM Best
9th December 2021
A new AM Best report shows that, despite the COVID-19 pandemic, Bermuda, Cayman Islands and Barbados (BCIB) captives continue to outperform the U.S. commercial casualty composite on underwriting and operating profitability. The rating agency noted that its BCIB group saw steady net earned premium growth of 11% in 2020, due to ... Read the full article
Insurtech Goosehead expanding into life following ETHOS deal
9th December 2021
Goosehead, a technology independent carrier, has announced its entrance into the life insurance space through a strategic alliance with Ethos Life. Through Goosehead’s Digital Agent Platform, clients can now access coverage online without blood tests or medical exams. This partnership is seen as a way to eliminate traditional barriers and underscore Goosehead’s ... Read the full article
Essent Guaranty promotes Christopher Curran to President
9th December 2021
Essent Group has promoted Christopher Curran to the role of President for its Essent Guaranty subsidiary. As President, Curran will have responsibility for the overall operations of the mortgage insurance (MI) company including, business development, IT, operations, public policy and risk. He will report directly to Mark Casale who will continue to ... Read the full article
Premium renewal rates still positive for most lines: IVANS
9th December 2021
IVANS, a division of Applied Systems, has announced the November results of its insurance premium renewal rate index, which show that year-over-year premium renewal rates remain positive for the majority of commercial lines. Month over month, premium renewal rates also increased for lines of business including Commercial Auto, Business Owners’ Policy ... Read the full article
Synapse launches energy practice with new hire
9th December 2021
Specialty wholesale insurance broker Synapse Services has announced the expansion of its business lines with a dedicated energy practice. Emris Graham has been appointed Vice President to lead the new unit, effective immediately, and will operate out of Birmingham, Alabama. Graham joins Synapse Services bringing over 16 years of experience broking complex ... Read the full article
Alex Clark joins Arch’s London Market healthcare team
9th December 2021
Arch Insurance International has announced the appointment of Alex Clark as Senior Underwriter for Healthcare, with immediate effect. In this role, Clark will focus on providing underwriting solutions for large hospitals and health systems, which form a core part of Arch’s London Market healthcare insurance portfolio. Based in London, he will report ... Read the full article
Twelve Capital & Eos partner on insurtech growth funding
9th December 2021
Twelve Capital, an investment manager specialising in the insurance industry, has partnered with insurtech venture capital fund manager Eos Venture Partners to provide growth funding for insurtech companies. With an exclusive focus on insurtech and adjacent opportunities, the fund will capitalise on Twelve Capital’s insurance network and Eos’ insurtech expertise. The focus ... Read the full article
ABI adds two to board of directors
9th December 2021
The Association of British Insurers has announced the appointment of two new board members, Colm Holmes and Clare Bousfield. Holmes, Allianz UK Chief Executive Officer, will replace Jon Dye who stepped down as Allianz CEO on 30th November, having attended his last board meeting in October. Clare Bousfield, Managing Director for Retail ... Read the full article
Marsh McLennan hires Francis Bouchard as Managing Director, Climate
9th December 2021
Marsh McLennan has appointed Francis Bouchard to its Advantage team as Managing Director of Climate. Bouchard will be responsible for the team’s climate strategy and for developing and delivering solutions from across Marsh McLennan that help clients create resilient strategies for the future. He will work closely with executives and climate leaders ... Read the full article
AXA XL expands E&S Primary Casualty insurance team
9th December 2021
AXA XL has added new Excess & Surplus (E&S) casualty insurance underwriting expertise with the addition of Matthew Moses as Senior Underwriter in New York and Joshua Steele as Senior Underwriter in Scottsdale, Arizona. With more than 10 years of underwriting experience, Moses joins AXA XL from CapSpecialty where focused his ... Read the full article
New Dawn Risk’s Webster forecasts bright 2022 for cyber captives
9th December 2021
New Dawn Risk's James Bullock-Webster believes that at some point in the coming year larger clients will no longer see value in transferring exposure to the insurance market, instead turning towards harnessing the unique benefits of captives. Bullock-Webster, who serves as Head of Technology, Media and Cyber, sees great potential for ... Read the full article
US P&C insurers to generate steady earnings in 2022: Fitch
9th December 2021
According to Fitch Ratings, US property & casualty (P&C) insurers are in a position to generate statutory underwriting profits and steady earnings next year, despite challenges from higher inflation and a likely reduction in contributions from investment gains. Fitch holds a neutral fundamental sector outlook for the US P&C sector for ... Read the full article
IQUW appoints Rene Lamer to Bermuda-based MD role
9th December 2021
IQUW has announced he appointment of Rene Lamer to the firm’s Bermuda office as Managing Director – Underwriting and Operations. He joins the company to help build out the underwriting and operational capabilities of the region's new platform. Lamer reports to Stephen Young, who recently joined as Head of Reinsurance and CEO Bermuda.Read the full article
Nature-based carbon a $1.3bn opportunity for re/insurers: report
9th December 2021
A new report by carbon market experts, BeZero Carbon, in partnership with international insurance broker, Howden, and UK insurance broker Blackford, has outlined the significant opportunity the re/insurance industry could play in securitising the nature-based carbon market and unlocking the capital needed to scale it. The report estimates that the voluntary ... Read the full article