Reinsurance News
ACORD releases re/insurance data standards for electronic placing
30th September 2021
ACORD, the standards-setting body for the global insurance industry, has expanded its Global Reinsurance & Large Commercial (GRLC) Data Standard to include new standards for electronic placing. Re/insurers will now be able to leverage these newly developed standards to help adopt more advanced electronic placement processes, from submission to bind. The initial ... Read the full article
Amwins launches underwriting portfolio mgmt team
30th September 2021
Amwins’ Global Risks broking arm has announced the launch of its John Andrews and Tom Wallace-led underwriting portfolio management unit. The pair’s focus will be on aggregating and creating exclusive capacity across the organisation. Andrews' career has seen him serve at firms such as Dale Underwriting, Arch Insurance Europe, Pioneer and Axis. Wallace joins ... Read the full article
Corvus adds Madhu Tadikonda as President
30th September 2021
Corvus Insurance, a provider of AI-powered commercial insurance, has welcomed Madhu Tadikonda as its first President. Tadikonda brings over a decade's worth of insurance industry experience to the role. He started his career at AIG, serving as both Chief Data Scientist in Commercial Insurance and then Global Chief Underwriting Officer. More recently, Tadikonda ... Read the full article
Appetite for US flood risk still limited: AM Best
29th September 2021
A new report from AM Best has highlighted that appetite for flood risk among US insurers is still limited, despite a slow transition towards the private market playing a more prominent role in providing competitive market options for those seeking coverage. The rating agency notes that the federally operated National Flood ... Read the full article
HDI Global SE names Raymond Ong as head of claims operations, ASEAN and Middle East
29th September 2021
HDI Global SE Singapore has appointed Raymond Ong to lead its claims operations for ASEAN and the Middle East. Ong brings over twenty years of experience in resolving complex and technical claims across the Asian region joins from the Singapore Claims Team at Willis Towers Watson. Prior to this, he worked at ... Read the full article
Mammoth Life & Reinsurance enters deal with Quad M Solutions
29th September 2021
Kentucky headquartered reinsurer Mammoth Life & Reinsurance Company has entered into a new commercial agreement with NuAxess, a subsidiary of holding company Quad M Solutions, which specialises in employer organization and staffing businesses. Collectively, the companies plan to target the large and growing independent contractor and GIG worker market which subsumes ... Read the full article
Lockton names Head of Intl. Property within Wholesale P&C division
29th September 2021
Insurance broker Lockton has has appointed Andrzej Danyluk as Head of International Property within its Wholesale Property & Casualty (P&C) division, effective immediately. In his new role in London, Danyluk will be responsible for developing and growing the international property portfolio of clients in collaboration with Lockton’s international offices and partners. Danyluk ... Read the full article
Arch MI obtains $639mn of indemnity reinsurance via Bellemeade Re
29th September 2021
Arch Mortgage Insurance Company (Arch MI) has secured over $639 million of indemnity reinsurance on a pool representing approximately $28.7 billion of mortgages from Bellemeade Re 2021-3 Ltd., a special purpose reinsurer. The coverage was obtained by issuing approximately $508 million in bonds and $131 million in direct reinsurance, and covers ... Read the full article
David Mocklow named CFO, Chief Claims Officer of MS Amlin Distribution
29th September 2021
MS Amlin Underwriting Limited (MS AUL) has announced the appointment of David Mocklow as Chief Financial Officer & Chief Claims Officer of a newly formed, US based sister company, MS Amlin Distribution Holdings (MS ADH). Mocklow takes up the roles with immediate effect, and will reports to Johan Slabbert CEO of ... Read the full article
Howden bolsters Construction division with 19 hires across EMEA
29th September 2021
International insurance broker Howden has added 19 new senior construction specialists in London and Dubai. Led by the recently appointed Global Head of Construction Naresh Dade and Howden’s Deputy Global Head of Construction Andrew Harrison Sleap, the expanded team will focus on developing bespoke retail and specialty solutions for Howden’s construction ... Read the full article
Cover Genius raises AUD$100m in Series C funding led by Sompo Asia
29th September 2021
Cover Genius has raised AUD$100 million in a Series C funding round led by Sompo Holdings Asia (Sompo Asia) who invested AUD$68 million, with participation from G Squared and other existing investors. The latest funding round follows a good six months for the insurtech, during which it tripled its gross written ... Read the full article
Climate change top concern for UK risk experts and public: AXA
29th September 2021
Climate change is the top concern for both risk experts and the public in the UK, according to a new report from global insurer AXA. According to the report, from a possible 25 risks that could impact the world within the next decade, over 64% of UK risk experts and almost ... Read the full article
Oman Insurance Company approved for DIFC syndicate-in-a-box
29th September 2021
Oman Insurance Company (OIC) and Asta, the leading third-party managing agent at Lloyd’s, have been granted ‘in-principle’ approval from Lloyd’s to launch Syndicate 2880 under the Syndicate-in-a-Box initiative (SIAB). The syndicate will operate on the Lloyd’s platform under the Dubai International Financial Centre (DIFC). Dubai-based insurer OIC will provide lead and follow ... Read the full article
BMS Re enters Brazil
29th September 2021
BMS Re has launched operations in Brazil, under the name BMS Brasil Corretora de Resseguros (BMS Re Brazil), which will be headquartered in Sao Paulo. José Leão, CEO of BMS Re in Brazil, and Judi Newsam, President, will lead the new operations which will report to Aidan Pope, CEO & Executive ... Read the full article
Talks over the sale of AXA XL Re to Covéa fail: report
29th September 2021
According to reports in France, mutual insurance group Covéa's attempt to acquire the reinsurance operations of AXA XL has failed, with sources suggesting that the price proposed was insufficient. As reported by French publication, L'Argus de l'assurance, Covéa's search for a reinsurance entity continues after AXA XL Re joins the list ... Read the full article