Reinsurance News
Berkshire (BHSI) appoints Nick Holding as Head of Marine, UK
12th January 2024
Berkshire Hathaway Specialty Insurance (BHSI) has expanded its marine capabilities with the appointment of Nick Holding as Head of Marine in the UK, based in London. This move follows the ongoing growth of the company’s marine portfolio. Nick Major, Country Head, BHSI UK, commented on the appointment, “I am pleased to welcome ... Read the full article
McGill and Partners appoints John Judice as President, US
12th January 2024
Specialty insurance broker McGill and Partners has appointed John Judice as the new President of its US business segment, where he will focus on driving business development activity across the firm's specialty platform. Judice has over two decades of experience in the insurance industry. He joined the broker in September 2021 ... Read the full article
Floridian insurers purchased more reinsurance in 2023 but cost of coverage rose 27%: OIR
11th January 2024
The Florida Office of Insurance Regulation (OIR) has reported a year-on-year rise in the amount of reinsurance coverage purchased by domestic Florida insurers in 2023, as the cost of protection rose for buyers amid the hardening market landscape. Based on findings from the ARDC for the 2023-2024 year, the amount of ... Read the full article
R&Q shareholders approve sale of Accredited
11th January 2024
At a special general meeting held earlier today, R&Q Insurance Holdings Ltd.'s shareholders approved the sale of the company's program management business, Accredited, which is expected to close in the first half of 2024. The global non-life specialty insurer confirmed in September 2023 that it was in advanced talks regarding ... Read the full article
Parsyl more than doubles Lloyd’s-backed consortium to $55m
11th January 2024
Parsyl, the supply chain insurer, has more than doubled its Essential Consortium to $55 million in capacity, ultimately making it one of the largest cargo only consortiums at Lloyd’s for perishable commodities. The company launched the $20 million consortium in April 2023, which is led by Parsyl’s Syndicate 1796. For the ... Read the full article
Inigo selects Phinsys’ platform to further drive growth
11th January 2024
Phinsys, the finance automation software provider for the re/insurance industry, has been selected by specialty re/insurer Inigo Limited, to deliver a digital, optimised finance and accounting function. Phinsys' new partnership with Inigo underscores the company's track record of delivering innovative software solutions for all types of insurance enterprise. Designed to speed up ... Read the full article
Gallagher Re adds Virgil Antonio de Souza to LatAm & Caribbean team
11th January 2024
Virgil Antonio de Souza joins the reinsurance broker from Brazil's IRB (Re), and assumes responsibility for leading Gallagher Re's Surety and Credit practice across Latin America and the Caribbean. He is set to join Gallagher Re's Latin America and Caribbean team in early 2024 and will be based in Brazil. Virgil Antonio ... Read the full article
Ryan Specialty expands renewable energy insurance offering with new MGU
11th January 2024
International specialty insurance firm, Ryan Specialty, has expanded its renewable energy insurance offering on a global basis with PERse International, a managing general underwriter (MGU) based in London. The MGU has a particular focus on both onshore and offshore renewable insurance and is a part of the firm’s underwriting specialty - ... Read the full article
Reinsurance sector’s digital transition shows gradual progress, Supercede data reveals
11th January 2024
In a recent report, Supercede, a reinsurtech software specialist, has unveiled insights into the industry's movement towards digital platforms, showcasing a measured pace in the adoption of innovative solutions. Amidst the critical January 2024 reinsurance renewal period, Supercede's data indicates a growing acceptance of digital transformation, though progress remains slower than ... Read the full article
Patrick Hennessy promoted to Northeast Zone Leader, Marsh
11th January 2024
Insurance broker, and business of Marsh McLennan, Marsh, has promoted Patrick Hennessy to the role of Northeast Zone Leader effective immediately. In the role, he is expected to lead the broker's eight offices across the Northeast region of the United States, where he will hold responsibility for client initiatives, new business, ... Read the full article
NFP names Amanda Ruback to lead Central region’s P&C business
11th January 2024
NFP, a property and casualty (P&C) broker, has announced the appointment of Amanda Ruback to spearhead the P&C business in its Central region. In her new role, Ruback will collaborate with NFP's Central region, industry group, and risk practice leaders to propel the growth of commercial P&C business. Her responsibilities include bolstering ... Read the full article
Disinformation tops global risks in 2024, warns World Economic Forum
11th January 2024
The World Economic Forum's Global Risks Report 2024 signals a heightened global risk landscape, with misinformation and disinformation identified as the foremost short-term threats. Simultaneously, concerns about extreme weather events and critical Earth system changes top the list of long-term worries, reflecting a precarious balance between immediate challenges and the sustained ... Read the full article
Clyde & Co represents insurers in Thai Court on catastrophic failure of wind turbine case
11th January 2024
Clyde & Co, the global law firm, successfully represented insurers in securing a major decision from the Thai Court confirming denial of coverage for a catastrophic failure of a wind turbine. From what we understand, the decision held that the manufacturer and contractor’s reliance on ‘industry practice’ was insufficient to overcome ... Read the full article
Bridgehaven hires Intact’s Paul Dilley as Chief Underwriting Officer
11th January 2024
Bridgehaven Insurance has appointed Paul Dilley as Chief Underwriting Officer, subject to regulatory approval. Dilley joins Bridgehaven from Intact Insurance Group, where he was responsible for Intact International Specialty (UK and Europe). Before this, he held the position of CUO for RSA’s UK and International Businesses. He has also served as CEO ... Read the full article
Real Estate MGA Ventis enters market, focusing on broker partnerships
11th January 2024
Ventis, a newly launched Commercial and Residential real estate Managing General Agent (MGA), has officially commenced operations, aiming to provide tailored solutions for a diverse range of property profiles. Led by Gareth Roberts, formerly the head of Covéa's Mid-Market Specialist and Network division, Ventis boasts an extensive range of coverage supported ... Read the full article
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