Reinsurance News
Gallagher Re feels like a billion dollar startup with a tremendous opportunity: James Kent & Pat Gallagher
1st December 2021
With Arthur J. Gallagher’s (AJG) acquisition of Willis Re’s treaty reinsurance operations now complete, resulting in a much larger Gallagher Re, senior executives told Reinsurance News that it feels like day one at a billion dollar startup. In the past seven years, Gallagher Re has established itself as the fifth largest ... Read the full article
Canopius Group names Lindsay Astor as Chief of Staff
1st December 2021
Global specialty re/insurer, Canopius Group has appointed Lindsay Astor to the newly-created role of Chief of Staff, and Head of Strategic Development. Astor joins Canopius from AXA XL, where she was most recently Head of Underwriting Management, UK & Lloyd’s, with responsibility for leading a team of business managers, and overseeing ... Read the full article
McGriff makes two senior leadership appointments
1st December 2021
McGriff, an insurance broking subsidiary of the Truist Insurance Holdings group, has appointed Crystal Sanderson as National Personal Lines & Small Business Practice Leader. Sanderson’s previous position was Senior Vice President and Director of McGriff’s Sales Center. Sanderson, who joined McGriff in 2006, will be responsible for all main street and premier ... Read the full article
Marty Schafer joins Ethos as First Distribution Officer
1st December 2021
Life insurtech Ethos has announced the appointment of Marty Schafer as its first Chief Distribution Officer to bolster the company's channel distribution. He will be responsible for building a team to focus on enabling partnerships specifically with third party life insurance distributors and life, property and casualty insurance agents. Schafer joins Ethos ... Read the full article
Toa Re America makes three leadership appointments
1st December 2021
Toa Re America (TRA) has appointed David Kavula and Kim Brown as Senior Vice Presidents Treaty Underwriting. Both positions report to Brian Sabia, Executive Vice President and Chief Underwriting Officer. Kavula joins TRA from Everest Re where he recently held the position of Vice President Treaty Underwriting Casualty. Prior to Everest Re, he ... Read the full article
Canopius backed Delos closes $5.3m seed funding round
1st December 2021
Delos Insurance Solutions, a catastrophe insurance managing general agency (MGA) with a focus on California wildfire risks, has successfully closed a $5.3 million seed funding round led by IA Capital, with participation from Avanta Ventures, Red Dog Capital, and Futureland Syndicate. Delos underwrites as an MGA using capacity from Canopius and ... Read the full article
Obsidian strikes carrier partnership with insurtech Steadily
1st December 2021
Obsidian Insurance Holdings, Inc., a program fronting insurance holding company, has announced a new carrier partnership with Steadily, a Texas-based insurtech that specialises in landlord insurance. The new program with Obsidian will offer insurance solutions that enable landlords to get rapid insurance quotes online. The partnership hopes to remove points of friction ... Read the full article
Howden acquires specialist insurance broker EML
1st December 2021
International insurance broker Howden has acquired Expat Marine Limited (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong. The acquisition is considered a reinforcement to Howden’s commitment to the Hong Kong market. EML was established 32 years' ago and caters for the insurance ... Read the full article
MS AUL appoints Head of Sustainability & ESG
1st December 2021
MS Amlin Underwriting Limited (MS AUL), the Lloyd’s global specialty re/insurer, has announced the appointment of Amir Sethu as Head of Sustainability & ESG, a newly created role. Sethu takes up the role later this month and reports directly to Martyn Rodden, Director of Strategy & Transformation. As Head of Sustainability & ... Read the full article
Aviva officially exits Italian market
1st December 2021
Aviva has now fully exited the Italian market following a €543 million sale of various life insurance businesses to CNP Assurances. The UK insurer had previously offloaded its general insurance business to Allianz €330 million, in a deal that was finalised last month. That deal with Allianz involved a portfolio equally ... Read the full article
First Superfund deal imminent following regulatory nod, says Aon
1st December 2021
Re/insurance broking giant Aon has underlined the significance of so-called Superfunds and expects the new Pension Risk Transfer (PRT) instrument to be deployed imminently. Superfunds have been introduced to help help counteract emerging gaps between the fixed sums paid out by pension schemes and the income received from investments. The driving concept ... Read the full article
James Kent to lead Gallagher Re as acquisition of Willis Re completes
1st December 2021
Global re/insurance broker Arthur J. Gallagher & Co. has completed its previously announced acquisition of the treaty reinsurance operations of rival Willis Towers Watson (WTW). It was announced in August that Gallagher had reached an agreement to acquire all of the treaty operations of Willis Re from its parent for ... Read the full article
Ransoms demanded to ransoms paid on the decline: Corvus
1st December 2021
Corvus Insurance has released a new report, showing the insights and tools used by risk managers, IT departments, security researchers, and solution providers to hone their offerings and approaches to keeping organisations safe from evolving cyber threats. The report looked at ransomware which has quickly become a dominant force in cyber ... Read the full article
WTW appoints Anthony Monaghan to Industry Transportation Leader role
1st December 2021
Global re/insurance broker Willis Towers Watson has named Anthony Monaghan as GB Industry Transportation Leader for its Risk & Broking Division in GB. Monaghan joins from Marsh, where he most recently led their Manufacturing & Automotive Industry. Prior to MMC’s acquisition of JLT, he was Marsh’s Transportation Leader for the UK and ... Read the full article
German primary insurers’ capital levels are credit positive: Fitch
1st December 2021
According to Fitch Ratings, German primary insurers’ ratings which are supported by their capital positions, has improved in recent years. The rating agency highlighted that insurers’ capital positions are generally at least level with the ratings assigned, with ‘Very Strong’ or ‘Extremely Strong’ Prism Factor-Based Capital Model (FBM) scores. Most ratings are ... Read the full article