Reinsurance News
Mosaic hires Liam Jones as SVP, Head of Business Development
5th October 2021
Specialty insurer Mosaic Insurance has appointed Liam Jones as senior vice president, Head of Business Development, to focus on product innovation and insurtech strategy. He will report to Mosaic Co-Founder & Co-CEO Mark Wheeler and serving as a member of the Leadership Team. In his new role, Jones will lead activity to ... Read the full article
Howden makes first acquisition in Swiss brokerage market
5th October 2021
Global insurance broker Howden has announced the acquisition of BrokerCenterZürichsee AG (BCZ). This acquisition, the company's first in the Swiss brokerage market, represents investment in local expertise and a platform for its strategic growth plans in the country. BCZ is an independent insurance broker servicing Swiss SME clients across personal lines, ... Read the full article
Catastrophe bonds & related ILS to break records in 2021: Report
5th October 2021
Catastrophe bond and related insurance-linked securities (ILS) issuance was strong in the third-quarter of 2021, setting a new quarterly record at more than $2.6 billion, according to the latest report and data from ILS-focused sister site, Artemis. Artemis' latest quarterly report on the catastrophe ... Read the full article
Swiss Re pegs Hurricane Ida loss at $750mn
5th October 2021
Global reinsurance giant Swiss Re has announced that it expects an estimated impact of USD 750 million from Hurricane Ida, based on insurance and reinsurance industry losses of between USD 28 billion to USD 30 billion. Hurricane Ida made landfall as a Category 4 storm near Port Fourchon, Louisiana, about 60 ... Read the full article
Sasria counting on government aid with $386mn of riot claims paid
5th October 2021
South Africa’s state-owned insurer, Sasria, says it has paid around R5.8 billion (USD 386 million) of claims two months on from the unprecedented civil unrest and rioting in the country. The insurer also acknowledged there are “valid” concerns about its ability to honour claims, following warnings that the eventual bill Read the full article
Charles Taylor Adjusting names key hires for Australia team
5th October 2021
Charles Taylor Adjusting, a global loss adjusting business, has made key appointments to its team in Australia. Glyn Lloyd, Gary Pahl and Gary Wilmot have joined as executive adjusters in the Casualty, Property, and Marine businesses while Debra Kerr joins as national relationship manager to further strengthen Charles Taylor Adjusting’s existing ... Read the full article
Data strategy critical for catastrophe claims operations: Genpact’s Sameer Dewan
4th October 2021
Sameer Dewan, Global Business and Digital Transformation Leader for Insurance at Genpact, has stressed the importance of data strategy for re/insurers looking to effectively handle catastrophe claims operations. Speaking in a recent interview with Reinsurance News, Sameer discussed the role of data and technology and asserted that managing disaster events is ... Read the full article
BHSI announces senior promotions
4th October 2021
Berkshire Hathaway Specialty Insurance (BHSI) has promoted Hilary Browne to the additional role of Regional Executive, UK and Europe, and Vanessa Maxwell to the additional role of Country Manager, UK. Browne will work closely with Chris Colahan, Head of UK & Europe, serving as deputy head of BHSI in the UK ... Read the full article
IQUW to inform pricing with Temblor’s real-time seismic risk data
4th October 2021
Property, Commercial and Speciality re/insurer IQUW has entered a deal with catastrophe modeller Temblor to leverage its real-time seismic risk data in future pricing decision-making . The California-based modeller’s platform is continuous with no borders or boundaries, providing IQUW with a single baseline to assess any risk. Furthermore, Temblor is described as ... Read the full article
Bredahl takes CEO role at TigerRisk, as Fox becomes Exec Chairman
4th October 2021
Global insurance and reinsurance broker TigerRisk Partners has announced that Rob Bredahl will become its new Chief Executive Officer (CEO), effective immediately, succeeding current CEO Rod Fox who will transition into the role of Executive Chairman. Taking over the President role from Rob Bredahl is Tim Ronda, whose addition to TigerRisk ... Read the full article
Neptune Flood acquires parametric insurtech Jumpstart Insurance
4th October 2021
Neptune Flood, an insurtech firm focused on the flood market, has added parametric earthquake to its portfolio of technology-based insurance products via the acquisition of Jumpstart Insurance Solutions. Jumpstart leverages a parametric trigger approach to provide a set payout based on quake intensity, which unlike traditional quake cover, enables rapid payout ... Read the full article
July European flooding causes largest industry loss figure in 2021: CRESTA
4th October 2021
CRESTA, the insurance industry organisation that provides a global standard for risk accumulation zones and industry losses, has found that the extreme flooding event in Western Europe in mid-July has generated the largest industry loss figure in 2021, currently estimated at USD 11.0bn. This is followed by the severe convective storms ... Read the full article
Northcourt welcomes Mark Tetley to MD role
4th October 2021
Optio Group-owned specialist nuclear MGA Northcourt has added Mark Tetley as managing director, where he will London and report to Northcourt CEO Alan Rickett. With extensive underwriting and broking experience gained while developing nuclear programmes for Russia, Ukraine, Romania, Slovakia, Czech Republic, Bulgaria and China, Tetley is recognised as a leading ... Read the full article
SRS hires Richard Paris-Smith as European Client Service Leader
4th October 2021
Strategic Risk Solutions has appointed Richard Paris-Smith as European Client Service Leader. Paris-Smith will begin his new position in January and report to Guernsey Managing Director Peter Child. He will assume responsibility for a portfolio of existing clients while working with the SRS team to support the Company’s growth strategy in Guernsey ... Read the full article
Argo offloads Brazilian operations for $30mn
4th October 2021
Specialty insurance underwriter Argo Group International has announced its decision to sell it's Argo Brazilian arm to Spice PE, an investment company focused on global private equity investments, for a purchase price of roughly $29.8 million. Spice PE’s investments are managed by GP Advisors (Bermuda), Ltd., a wholly-owned subsidiary of GP ... Read the full article