Reinsurance News
AIG appoints Roshan Navagamuwa as its new EVP & CIO
16th November 2023
Global insurer, American International Group, Inc. (AIG) has appointed CVS Health's Roshan Navagamuwa as Executive Vice President (EVP) and Chief Information Officer (CIO), effective January 1st, 2024. Navagamuwa will report to Peter Zaffino, AIG Chairman and Chief Executive Officer (CEO). He will also be a part of AIG’s Executive Leadership Team. Navagamuwa's ... Read the full article
Aviva reports 13% increase in 9M’23 GWP for general insurance segment
16th November 2023
Global insurer, Aviva plc has reported a 13% increase in gross written premiums (GWP) for its general insurance business in 9M 2023 to £8 billion, driven by strong rate, new business volumes, and retention. Within the UK&I segment, GWP increased 15% year-on-year as Canadian GWP rose 11% at constant currency. While premiums ... Read the full article
Phoenix Group increases cash target following insurance brands merger
16th November 2023
Phoenix Group has raised its full-year cash generation forecast after announcing that it has completed the funds merger of its Standard Life and Phoenix Life businesses into Phoenix Life Ltd, uniting the businesses of four entities. The transfer has resulted in its 2023 cash target being increased to £1.8 billion, up ... Read the full article
Enact completes sixth mortgage insurance-linked note transaction
16th November 2023
Enact Holdings' flagship legal entity, Enact Mortgage Insurance Corporation, has secured $248 million of fully collateralized excess of loss reinsurance coverage through the issuance of an insurance-linked note transaction with Triangle Re 2023-1 Ltd. According to Enact, the transaction provides coverage on a portfolio of existing seasoned mortgage insurance policies written ... Read the full article
LMA & LIIBA team up to lead digital transformation in Delegated Authority business
16th November 2023
The Lloyd's Market Association (LMA) has joined forces with the London and International Insurance Brokers' Association (LIIBA) in an effort to lead digital transformation in Delegated Authority (DA) business with the introduction of computable contracts. Launched in late 2020, Project DARE mostly focuses on putting distribution partners and customers at ... Read the full article
UIB announces passing of Co-founder & President Dr. Mounir Kabban
16th November 2023
International re/insurance broker United Insurance Brokers Limited (UIB) pays tribute to its Co-founder and President, Dr. Mounir Kabban, as they announce the news of his passing on November 13th, 2023. “Mounir was not just a leader within our organisation; he was a source of inspiration, guidance, and unwavering support for all ... Read the full article
Howden names Jean Bayon de La Tour as International Head of Cyber
16th November 2023
In a strategic move to bolster its position in the face of escalating cyber threats, Howden, the global insurance group, has appointed Jean Bayon de La Tour as the International Head of Cyber, effective immediately. This appointment marks a significant milestone in Howden's initiative to attract top-tier broking talent, aligning with ... Read the full article
Cytora and Veridion partner to redefine digital risk processing with AI-powered insights
16th November 2023
Cytora, an AI-powered digital risk processing platform, has entered into a strategic partnership with Veridion, a leading provider of AI-powered business data and market intelligence. This collaboration aims to reshape the landscape of commercial insurance underwriting by integrating Veridion's comprehensive business data directly into Cytora's platform. The key highlight of this integration ... Read the full article
Lloyd’s to remain at One Lime Street until 2041: Sky News
16th November 2023
The specialist Lloyd's of London insurance and reinsurance marketplace has signed a deal with Ping An to remain at its iconic headquarters until 2041, according to a Sky News report. Sky News claims that after more than a year of negotiating, a long-term deal is closed to being agreed with the ... Read the full article
Pen Underwriting launches IP insurance product
16th November 2023
Pen Underwriting, an Arthur J. Gallagher & Co. subsidiary, has launched a new flexible intellectual property (IP) cover to protect against rising risk of infringement. The launch follows Pen’s investment earlier this year to create a dedicated new IP underwriting practice led by Erik Alsegard - who was appointed Head ... Read the full article
Simon Schnorr named Chaucer Head of Marine & Energy
16th November 2023
Global specialty re/insurance group Chaucer has announced the appointment of Simon Schnorr as Head of Marine & Energy. He will be assuming responsibility from Kelan Hunt in a revised organisational structure where Hunt will place greater emphasis on his role as Active Underwriter of Syndicate 1084. Schnorr brings to his new role ... Read the full article
Assurant names Meier CFO and Luthi COO
16th November 2023
Effective immediately, Keith Meier is to take over as Chief Financial Officer (CFO) and be replaced by Francesca Luthi as Chief Operating Officer (COO), as the firm realigns its executive team to support its global growth strategy. Meier takes on oversight of Assurant’s global finance and technology organizations, and will continue ... Read the full article
Berkshire (BHSI) promotes Courtney Turnage Walker
16th November 2023
Property and Casualty insurer Berkshire Hathaway Specialty Insurance (BHSI) has promoted Courtney Turnage Walker to the newly created role of U.S. Head of Contract Surety. Walker previously served as the Senior Vice President of Surety Underwriting. Geoff Delisio, Head of Surety, BHSI, commented on the appointment, "BHSI’s surety book has grown steadily ... Read the full article
Falcon Risk Services strengthens leadership with two new roles
16th November 2023
Managing general agency, Falcon Risk Services, has welcomed both Ted Stefas and Gopika Shah to the newly create roles of Executive Vice President, General Counsel, and Technology Officer, respectively. Most recently, Stefas served as Chief Underwriting Counsel and Assistant General Counsel at Argo Group. Stefas will report to Chief Executive Officer (CEO) Craig ... Read the full article
Orion180 makes strategic senior appointments
16th November 2023
Provider of insurance solutions, Orion180, has announced the addition of Mohammad Javanbarg, Malcolm Tsung, Scott Crozier, and Yiguang Qiu. Javanbarg has been appointed as the Senior Vice President of specialty risk, and Tsung will serve as the Vice president of product management, commercial lines. Subsequently, Crozier is now the Vice President of product management, ... Read the full article
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