Reinsurance News
Beat Capital bolsters US presence with senior hire
4th October 2021
Investment firm Beat Capital Partners Americas has announced the appointment of Jon Beckham as president, assuming his role with immediate effect and reporting to Chief Executive Officer April Galda Joyce. He brings over two decade’s worth of extensive industry experience spent predominantly in the global MGA space. Beckham will play an integral ... Read the full article
McGill to launch Bermuda operation, led by Kate Vacher
4th October 2021
Specialist re/insurance broker McGill and Partners has announced that it will officially open a Bermuda office later this month, led by Chief Executive Officer (CEO) Kate Vacher. The Bermuda hub, which has already received regulatory approval, is expected to complement McGill and Partners’ other international operations as the firm continues to ... Read the full article
Allstate completes sale of New York Life and Annuity Businesses
4th October 2021
The Allstate Corporation has obtained all required regulatory approvals and closed the sale of Allstate Life Insurance Company of New York to Wilton Re for $400 million. Earlier this year, Allstate agreed to sell Allstate Life Insurance Company to Everlake US Holdings Company, an entity managed by Blackstone Group. This separate transaction ... Read the full article
Greenlight Capital Re promotes Brian O’Reilly to Head of Innovations
4th October 2021
Specialist property and casualty reinsurer Greenlight Capital Re has appointed Brian O’Reilly as Head of Innovations. O’Reilly joined Greenlight Re in 2013 and has held a variety of roles within the actuarial and underwriting teams. In 2018, he was part of the founding team of Greenlight Re Innovations. Simon Burton, Chief Executive Officer at ... Read the full article
Hong Kong insurers see premiums grow 2.5% to $581bn: IA
4th October 2021
New data compiled by Hong Kong’s Insurance Authority (IA) shows that gross premiums grew 2.5% year-on-year in 2020 to reach a total of $581.3 billion. The financial regulator based its insurance business statistics on audited returns and actuarial information submitted by individual insurers. In-force long term business accounted for the majority of ... Read the full article
Ticker partners with Abacai Group
4th October 2021
Connected motor insurtech, Ticker, and Abacai Group have partnered to increase Ticker’s capacity and introduce new levels of pricing sophistication, in order to bring connected insurance to a wider market. Ticker, which was founded in 2018 and launched in 2019 with the backing of Munich Re Ventures, has been rolling out ... Read the full article
Insurers must evolve or risk stifling sharing economy: Marsh
4th October 2021
Insurance broker and risk advisor Marsh has asserted that insurers must create new forms of coverage, including programs to support gig-workers at scale, in order to support changes in the global sharing economy and mobility sector. In a new report, analysts at Marsh noted that the COVID-19 pandemic has already accelerated ... Read the full article
Reinsurance leaders show greater risk appetite since pandemic: Aon
1st October 2021
New research from Aon shows an increased appetite for calculated risks within the leadership of the re/insurance industry, with nearly 90% of executives expecting business conditions to be stronger a year from now. More than 18 months since the global outbreak of the COVID-19 pandemic, Aon surveyed 800 C-suite leaders and ... Read the full article
McGriff hires Greg Glaser as VP and Marketing Account Executive, Energy
1st October 2021
McGriff, a subsidiary of Truist Insurance Holdings, has appointed Greg Glaser as a vice president and marketing account executive within its Energy Practice. Glaser brings 10 years of property underwriting experience through previous roles with Liberty Mutual and AIG. Over the past two years, he was with Marsh as a property placement ... Read the full article
Insurance securitisation startup Ledger starts casualty ILS fund
1st October 2021
Ledger Investing, a technology-driven marketplace for matching insurance risk to capital markets, has closed its Nanorock Insurance Linked Security (ILS) fund investment in casualty insurance risks through the Ledger Connect platform. The fund, will invest in workers’ compensation, general liability, commercial and private passenger auto liability as well as other casualty risks ... Read the full article
Oceanview Re Adds Ahwaz Chagani as Chief Actuary
1st October 2021
Bermudian firm Oceanview Reinsurance has announced the appointment of Ahwaz Chagani as Vice President and Chief Actuary. Chagani will be based in Bermuda and lead Oceanview Re’s actuarial organisation and all aspects of its risk management function. He brings over 15 years’ actuary experience to Oceanview Re and most recently served as ... Read the full article
Allianz announces new Board additions
1st October 2021
Allianz SE has announced a number of changes to its Board of Management, including the additions of new members, Andreas Wimmer and Sirma Boshnakova. Wimmer, who currently serves as CEO of Allianz Lebensversicherungs-AG, will succeed Jacqueline Hunt as head of the asset management division and Allianz Life in the US, effective ... Read the full article
Lockton grows Pittsburgh footprint with Jonathan Mycyk hire
1st October 2021
Insurance brokerage Lockton has expanded its footprint in Pittsburgh, PA with the appointment of Jonathan Mycyk as Senior Vice President. Mycyk joins with over 15 years at Aon, where he worked with business leaders at firms ranging from small to global in size, to deliver unparalleled value to their employees. In his ... Read the full article
Tokio Marine adds new climate restrictions for underwriting, investments
1st October 2021
As part of its revised climate strategy, global P&C insurance group Tokio Marine has introduced new restrictions to its insurance underwriting and investment and lending policies. Specifically, the new revisions add thermal coal mining projects to the list of restricted businesses for new business transactions, in addition to the existing exclusion ... Read the full article
AXA XL Reinsurance to simplify underwriting platform structure
1st October 2021
AXA XL’s Reinsurance, as part of the ongoing work to simplify legal entity structure, is set to make the business more consistent with AXA Group’s structure, which aligns businesses to legal entities. The company will write all new and renewal contracts via dedicated reinsurance legal entities as of January 1, 2022. This will ... Read the full article