Reinsurance News
Hawaii wildfire loss unusual, but no huge impact to reinsurance renewal process: RLI
25th October 2023
RLI Insurance recorded losses of $66 million from the Maui wildfires in the third quarter of 2023, but while this was a severe event and unusual for the company, it's not expected to have a major impact on the firm's January 1st, 2024, reinsurance renewal process, according to Chief Operating ... Read the full article
Justin Jordan joins Topsail Re as Director of Corporate Finance
25th October 2023
Cayman islands-based reinsurer Topsail Re has announced the appointment of Justin Jordan as Director of Corporate Finance. Jordan joins the reinsurer following over two years at Heritage Life Insurance Company, where he most recently served as Assistant Director of Accounting. During his tenure at Heritage, he focused on financial reporting and ... Read the full article
We’ve matured and now understand client needs in much more detail: Envelop Risk CEO
25th October 2023
Since its official launch in 2018, cyber re/insurance underwriting firm, Envelop Risk, has matured and grown alongside an increasingly sophisticated cyber re/insurance market. As such, it is now able to better understand the needs of its clients, according to Co-Founder and Chief Executive Officer (CEO), Jonathan Spry. As the global insurance ... Read the full article
Arch expands European footprint with two cyber appointments in France
25th October 2023
Arch Insurance has appointed Sergio Pierro as Senior Cyber Underwriter and Roxanne Deslandes as Cyber Underwriter, effective immediately. According to the firm, Pierro and Deslandes will join Arch Insurance (EU) dac, which provides specialist property and casualty insurance solutions within the European Union. Based in Paris, Pierro’s responsibilities are to establish Arch's ... Read the full article
Dale Underwriting names Prebensen Chair of the Group Board
25th October 2023
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, announced the appointment of Preben Prebensen as independent non-executive Chair of the Group Board. According to the announcement, this appointment will be effective upon completion of Dale’s transaction with CVC and subject to the customary regulatory approvals. Dale ... Read the full article
Ransomware attacks in 2023 up more than 95% compared to 2022: Corvus Insurance
25th October 2023
Ransomware attacks in 2023 are up more than a substantial 95% compared to 2022, according to Corvus Insurance's Q3 23 Global Ransomware Report. Attacks continue to come in at a record setting pace, with Q3 23 global ransomware attack frequency up 11% over Q2. In their Q2 23 report, the leading cyber ... Read the full article
Chubb reports significant rise in net income as P&C underwriting profit swells in Q3
25th October 2023
Property and casualty insurer Chubb has reported net income and core operating income for Q3 2023 of $2.04 billion each, up 157.8% and 55.4%, respectively, as its P&C arm delivered a combined ratio of 88.4% with underwriting income of $1.31 billion. The P&C underwriting result improved significantly from the $710 million ... Read the full article
Floodbase and ARC Ltd. partner to address Africa’s flood insurance gap
25th October 2023
In a significant move towards mitigating the devastating impact of floods in Africa, Floodbase has recently announced a strategic partnership with African Risk Capacity Limited (ARC Ltd.). The collaboration aims to develop, distribute, and scale parametric flood insurance solutions across the continent. Floods have emerged as a critical humanitarian challenge in Africa ... Read the full article
Marsh to launch global cyber practice to enhance risk management
25th October 2023
Marsh, a global insurance broker and risk advisor, has announced the establishment of a comprehensive Marsh Specialty global cyber practice. This initiative integrates Marsh's extensive cyber capabilities, spanning insurance, risk intelligence, incident management, and cybersecurity on a global scale. The new practice, set to formally commence operations on January 1, 2024, will ... Read the full article
GenAI expected to significantly affect productivity and change roles: EY
25th October 2023
Majority of European leaders in the insurance sector expect Generative Artificial Intelligence (GenAI) to significantly affect productivity and change roles; with limited AI knowledge, future regulation, and ethics being leaders’ top concerns, according to EY. The new EY European Financial Services AI Survey included executives from 24 European insurance firms – ... Read the full article
Howden CAP appoints new Executive Director, Balance Sheet Advisory & Structuring
25th October 2023
Global insurance brokerage Howden has appointed Alan McNamara as Executive Director, Balance Sheet Advisory & Structuring for Howden CAP, its capital, advisory and placement business. McNamara will join Howden after the completion of contractual obligations to his present employer at the end of 2023. He will be based in Dublin and will ... Read the full article
Risk Strategies names Drew Carnase as new COO
25th October 2023
Specialty insurance brokerage, Risk Strategies, has appointed Drew Carnase as Chief Operating Officer (COO), Commercial Lines. Carnase brings nearly three decades of insurance industry experience managing commercial lines operations across the country, having joined Risk Strategies two years ago. In his new role, he will focus on scaling and optimising Risk Strategies ... Read the full article
Brokerslink introduces dedicated Employee Benefits Practice
25th October 2023
Global broking firm Brokerslink announced the launch of a dedicated Employee Benefits (EB) Practice to address the fight for talent. Led by Gerard Baltazar, Brokerslink EB expert, the practice will aim to provide independent brokers around the world with access to leading expertise, assistance, and innovative solutions to help them strengthen ... Read the full article
Hamilton adds two industry veterans to its Board
24th October 2023
Bermuda-based Hamilton Insurance Group Ltd., has announced that both Dr. Henna A. Karna and John J. Gauthier have been appointed to the firm's Board of Directors, effective October 24, 2023. A highly experienced veteran, Karna boasts more than 25 years of experience in leading innovation across digital/data in high-tech, consumer packaged ... Read the full article
Chubb promotes McGregor to Head of Property in APAC & Japan
24th October 2023
Global property and casualty insurer Chubb has promoted Ben McGregor to Head of Property, Asia Pacific (APAC) and Japan for its general insurance business, effective 1 December 2023. McGregor will be based in Singapore and report directly to Paul McNamee, Regional President of APAC. He has a matrix reporting line to Aaron ... Read the full article
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