Reinsurance News
Aon bolsters Reinsurance Solutions’ US Treaty team
16th December 2021
Aon has announced the appointment of Ashley Irl to its Reinsurance Solutions' US Treaty team. Based in New York, Irl reports to Greggory Clark and Randy Stanco, who co-lead Aon’s New York/New Jersey Reinsurance Solutions office. This new role sees her take responsibility for the structuring and placement of reinsurance for several ... Read the full article
Risk managers believe climate will make certain risks uninsurable: AXA
16th December 2021
Results from a new study by AXA show that 60% of risk managers fear that certain geographies or activities will become uninsurable in future due to the impact of climate change. AXA says that its 2021 AMRAE Climate Commitment Barometer shows the growing importance of taking into account and understanding climate ... Read the full article
Industry braced for $5bn+ US tornado bill, survey data suggests
16th December 2021
An approach of over 1,000 re/insurance industry participants has found an expectation for costs to run above $5 billion after multiple US states were swarmed unexpectedly by tornados. 53% of respondents to our survey said the industry should expect a bill higher than $5 billion, with 37% predicting a ... Read the full article
Generali outlines new three-year strategy
16th December 2021
Italian insurer Generali has outlined a new three-year strategy to deliver sustainable growth across its core and emerging business lines, enhance its earnings profile, and drive innovation. Under the plan, Generali will enhance its earnings profile, increase the profitability of its Life business, invest € 1.1 billion in technology and digital ... Read the full article
Fairfax offloads 10% of Odyssey in $900mn deal
16th December 2021
Fairfax Financial has successfully sold a 4.995% slice of its subsidiary Odyssey Group to both CPPIB Credit Investments and OMERS, the defined benefit pension plan. Each will acquire a 4.995% interest in Odyssey through a new class of securities, for an aggregate cash purchase price of $900 million. CPPIB is a wholly-owned ... Read the full article
Aon names Chief Broking Officer for Commercial Risk UK
16th December 2021
Aon has announced the appointment of Angela James as Chief Broking Officer for Commercial Risk in the UK. James will join the business in June 2022 and report to James Baum, Head of Commercial Risk, UK. In the newly created role, which will cover Commercial Risk in the Global Broking Centre (GBC) ... Read the full article
Ariel Re hires Chief Analytics Officer from Nephila
16th December 2021
Bermuda-based reinsurer Ariel Re has announced that Apryle Oswald has been appointed to the newly created role of Chief Analytics Officer, effective December 20, 2021. Oswald most recently served as Portfolio Manager at Nephila Capital for 8 years and prior to that she spent 7 years with Renaissance Reinsurance Ltd. in ... Read the full article
Favourable pricing driving P&C underwriting profits: Fitch Ratings
16th December 2021
Fitch Ratings has released a report reviewing a group of commercial property & casualty insurers (P&C), which includes American International Group, W. R. Berkley, Chubb, CNA Financial Corp, Liberty Mutual and The Travelers Companies According to Fitch Ratings, the group have demonstrated an operating scale via large premium bases and substantial ... Read the full article
Swiss Re promotes Ladva to Chief Digital & Technology Officer
16th December 2021
Global reinsurer Swiss Re has appointed Pravina Ladva as Chief Digital & Technology Officer, whilst also adding her to the group's Executive Committee. Ladva is currently Swiss Re’s Group Digital Transformation Officer, a role she has held since July 2020. Prior to this, she served as Chief Technology and Operations Officer for ... Read the full article
Crawford & Company launches fraud detection solution
16th December 2021
Crawford & Company has launched Crawford Intelligent Fraud Detection, which combines human expertise and forensic analysis to enhance how it detects and manages fraudulent claims for its clients. The solution draws on Crawford’s extensive experience and expertise, leveraging the power of AI to help customers identify and manage insurance fraud. With fraudulent ... Read the full article
IAG’s Nick Hawkins named President of ICA
16th December 2021
The Board of the Insurance Council of Australia (ICA) has appointed IAG Managing Director and CEO Nick Hawkins to the position of President. QBE Australia Pacific CEO Sue Houghton will complete her term as President at the end of the year and remain on the Board, with Hawkins to commence as ... Read the full article
P&C industry prepared to cover manageable cost of tornado outbreak: DBRS Morningstar
15th December 2021
Analysis from DBRS Morningstar finds that while the December severe convective storm (SCS) event and subsequent tornado outbreak was severe, the loss is expected to fall within historical levels for the U.S. property and casualty (P&C) insurance sector. Although the U.S. experiences more tornadoes annually than any other country in the ... Read the full article
Risk Strategies acquires Fournier Group
15th December 2021
Specialty insurance brokerage and risk management firm, Risk Strategies, has acquired Fournier Group, a full-service commercial and personal lines retail insurance agency. Headquartered in Portland, Oregon, the firm is led by its President, Greg Kuhns who has helped the company build a regional reputation as an expert in the restaurant and ... Read the full article
Hamilton bolsters US E&S capabilities
15th December 2021
Hamilton Insurance Group has announced the appointments of Diane Wisner as Head of Excess Casualty Insurance and Pam Gosslin as Head of Medical Professionals Liability within US excess and surplus. Reporting to Clay Rhoades, President, US E&S, Wisner and Gosslin are based in Hamilton's new Richmond, Virginia location. Wisner joins with over ... Read the full article
Insurtech Stere raises $2mn seed funding
15th December 2021
Stere, a digital solution designed to tackle speed-to-market, capacity sourcing, and other challenges relevant to managing general agents and insurers, has closed its $2 million seed funding round. Stere connects “capacity seekers” like MGAs, program administrators and embedded insurance platforms with carriers and reinsurers. Data analytics essentially aid MGAs, brokers, and others ... Read the full article