Reinsurance News
HCI announces five-year employment agreement with CEO Paresh Patel
25th April 2024
Florida-based insurtech HCI Group has announced a five-year Executive Employment Agreement with Paresh Patel, who serves as its Chairman and Chief Executive Officer (CEO). This new agreement includes a long-term equity incentive with a vesting threshold set at $200 per share. This represents a significant premium compared to HCI’s current share ... Read the full article
Marsh McLennan Agency to acquire Fisher Brown Bottrell Insurance in $345m deal
25th April 2024
Marsh McLennan Agency, a subsidiary of Marsh, has entered into a definitive agreement to acquire Fisher Brown Bottrell Insurance, Inc. (FBBINSURANCE) from Trustmark National Bank, in a $345 million all-cash deal that values FBBINSURANCE at almost six times its 2023 revenue and 28 times its latest net income. Established in 1936, ... Read the full article
Blue Marble and USAID enhance climate resilience for Kenyan coffee farmers
25th April 2024
Blue Marble, a climate insurer, has partnered with the U.S. Agency for International Development (USAID) to introduce an innovative financial solution in Kenya, aimed at enhancing the climate resilience of coffee farmers connected to global supply chains. Supported by a grant from USAID's Climate Finance for Development Accelerator (CFDA) Adaptation Finance ... Read the full article
Latin Re integrates risk management software, appoints reinsurance specialist
24th April 2024
Latin Re, a Brazilian reinsurance broker, has acquired a license for the advanced risk management software RiskExplorer, developed by Ultimate Risk Solutions (URS). This marks a milestone in the sector, establishing Latin Re as the first Brazilian reinsurance broker to directly license RiskExplorer, which is recognized for its sophisticated modeling capability, ... Read the full article
Arbol hires Deanne Nixon as Senior Advisor for Reinsurance
24th April 2024
Global climate risk coverage platform, Arbol, has announced the appointment of Deanne Nixon, a reinsurance consultant and former President and Chief Executive Officer (CEO), as Senior Advisor for Reinsurance. Nixon brings more than three decades of re/insurance industry leadership to Arbol, and will play a vital role in strengthening the firm's ... Read the full article
Kairos hires veteran Stephen Lee as Managing Director of Banking Solutions
24th April 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has announced the appointment of Stephen Lee to the position of Managing Director, Banking Solutions. With Lee's extensive experience in banking, this strategic move aims to bolster Kairos' Banking Solutions sector and enhance its ability to meet client needs efficiently. Jeffrey Khoo, CEO ... Read the full article
PIC unveils streamlined solution for small pension schemes
24th April 2024
Pension Insurance Corporation plc (PIC) has launched a streamlined service called Mosaic, for small pension schemes looking to complete a buyout. According to the announcement, Mosaic will offer price monitoring as well as standard processes and contracts to give schemes a straightforward, efficient way of securing their members’ benefits with PIC. At ... Read the full article
Major cyber catastrophe loss could accelerate market development: Lockton Re
24th April 2024
Lockton Re, the global reinsurance arm of the privately held independent insurance broker, has highlighted how a large cyber catastrophe event could have its benefits by pushing the market to work collaboratively and drive innovation and product development. In a new analysis, "A Kaleidoscope of Possibilities: Preparing for Ivan Wiper," the ... Read the full article
PCF Insurance secures $400m in incremental financing
24th April 2024
PCF Insurance Services, a Utah-domiciled insurance brokerage, has closed $400 million in incremental debt financing led by Blue Owl, an alternative asset manager who acted as lead arranger and administrative agent. The financing was increased from $300 million to $400 million in response to strong demand from new and existing lenders. ... Read the full article
Howden Re Intl. hires Alexander Roth as MD, Head of Capital & Operational Solutions Europe
24th April 2024
Alexander Roth has joined Howden Re International from legacy acquirer DARAG as Managing Director, Head of Capital and Operational Solutions Europe, effective May 1st, 2024. In his new role with the reinsurance broker, Roth will focus on retroactive and prospective structured reinsurance. Most recently, Roth served as DARAG’s Global Head of ... Read the full article
Addresscloud and JBA Risk partner for flood risk management in Europe
24th April 2024
Geo-coding and property intelligence expert, Addresscloud, has partnered with flood specialist JBA Risk Management to map the flood risk of over 280 million buildings across mainland Europe. With this new service, insurers, reinsurers, and brokers will be able to identify in less than a second, the indicated flood risk at a ... Read the full article
Regulators to increase US life insurers’ capital risks transparency, use of offshore reinsurance a concern: Moody’s
24th April 2024
In its latest US Life & Health Insurance update, Moody’s analysts have highlighted improving capital risks transparency as regulators top priority as well as their concern regarding the increase in the use of offshore reinsurance by life insurers. “This year will be another active one on the regulatory front for US ... Read the full article
DeNexus appoints industry veteran Isabelle Dumont as Chief Marketing Officer
24th April 2024
DeNexus, a provider of cyber risk modelling solutions, has recently appointed industry veteran Isabelle Dumont as its new Chief Marketing Officer. In her new role, Dumont will lead the company's global marketing initiatives, focusing on enhancing brand awareness, generating demand, and developing effective go-to-market strategies. Additionally, she will play a crucial role ... Read the full article
Structured data and automation essential to address escalating global risks: M-Files
24th April 2024
The insurance industry must use structured data and automation to address the issues derived from increasing incidents like extreme weather, economic or geopolitical events and cybercrime, M-Files highlights. In recent times, the world has witnessed a host of occurrences that have rocked global markets, such as wildfires raging across Europe, two ... Read the full article
Aspida appoints new CTO and Director of Digital Product Management
24th April 2024
Aspida, a life insurance and annuity company, has announced the appointment of two new hires, Jason Pedone as Chief Technology Officer and Derek Clinton as Director of Digital Product Management. These “strategic” new hires will play a pivotal role in the continued development and advancement of the company's cutting-edge, in-house technology ... Read the full article
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