Reinsurance News
Crum & Forster terminates reinsurance agreement with AmerInst
19th October 2021
Property and casualty (P&C) insurer Crum & Forster has decided to discontinue a long-standing quota share reinsurance arrangement with AmerInst Insurance Group. Since September 2009, AmerInst’s Bermuda-based reinsurance business, AmerInst Insurance Company Limited (AMIC), has maintained a professional liability quota share agreement with C&F. Under the terms of the agreement, AMIC reinsured ... Read the full article
TigerRisk partners with data analytics firm Pinpoint Predictive
19th October 2021
Re/insurance risk, capital and strategic advisor TigerRisk Partners has announced a new partnership with Pinpoint Predictive, an analytics platform that uses data and deep learning algorithms to inform P&C insurance decisions. Using behavioural modelling of the adult population of the US, Pinpoint’s automated platform produces risk scores for individuals as well ... Read the full article
Investcorp forms Insurance Solutions unit
19th October 2021
Investcorp, a global provider and manager of alternative investment products, has launched Investcorp Insurance Solutions platform, a newly formed business that will focus on providing investment management services for insurers. The company has hired Todd Fonner as Chief Investment Officer, who has over 28 years of experience in the insurance and ... Read the full article
AXIS Insurance adds Senior Underwriters to Financial Institutions team in London
19th October 2021
AXIS Insurance, a division of Bermuda-based AXIS Capital Holdings Limited, has added Beth Convey, Julieta Moya, and Mark Sutton to its Financial Institutions team in London, effective immediately. The trio join the insurer as Senior Underwriters, reporting to Callum McPherson, Head of Financial Institutions in London. In their new roles, they will ... Read the full article
TMK appoints Chubb’s David Slevin to lead Aviation department
19th October 2021
Specialist international insurer Tokio Marine Kiln has appointed David Slevin to lead its Aviation department starting next spring, as sights are set on expanding the firm's presence in the sector. The newly created role will see Slevin push for profitable growth and development of TMK’s Aviation portfolio. He brings more than 36 ... Read the full article
Atrium hires Toby Russell as Casualty Treaty Underwriter
19th October 2021
Atrium Underwriting (Atrium), the managing agent for Lloyd’s Syndicate 609 has appointed Toby Russell as Casualty Treaty Underwriter reporting to Andrew Winyard, Head of Casualty Treaty. He joins Atrium from Aon Re, where he worked the past 8 years as a broker within the North American Casualty Treaty team. Winyard commented: “Toby ... Read the full article
Charles Taylor adds Derik Chen as Regional Director for China
19th October 2021
Charles Taylor Adjusting has appointed Derik Chen as Greater China Regional Director, where he will have oversight of the company’s growth in China and Taiwan. Chen will also lead the establishment of the firm’s property and casualty adjusting business in Taiwan. Currently based in Shanghai, Derik has over 25 years of experience ... Read the full article
2021 was “no outlier” for European cat losses: Swiss Re’s Reichelt
18th October 2021
With climate concerns growing across the re/insurance market, Swiss Re’s Frank Reichelt warns that secondary peril losses will inevitably grow, meaning a year like 2021 in Europe is “no outlier on a global scale.” With the January 2022 renewals coming up, reinsurance buyers are reflecting on what has been another active ... Read the full article
The Carrick Group secures $40mn credit from Bank of Montreal
18th October 2021
International non-life legacy business The Carrick Group has confirmed a $40 million credit agreement between its Bermuda-based subsidiary and the Bank of Montreal. The credit will be used to pursue and execute legacy transactions. Karl Wall, Chief Executive Officer of Carrick Group said this credit agreement provides access to additional funding that will ... Read the full article
Taussig Capital acquires Spencer Re
18th October 2021
Taussig Capital, an advisory firm with a focus on asset managers, family offices, insurers, reinsurers, and banks, has acquired all of the voting shares of Spencer Re I.I., which will be rebranding as Taussig Capital Re. Founded in 2006 and licensed in Puerto Rico, Spencer Re I.I. is a global insurance ... Read the full article
Guy Carpenter launches Wildfire Risk Score
18th October 2021
Guy Carpenter & Company has launched a Wildfire Risk Score designed to help clients manage their exposure to the evolving risk of wildfire across Europe. The solution builds on the approach successfully deployed in the U.S. and adds an additional peril geography to Guy Carpenter’s climate advisory offerings. Through the new platform, ... Read the full article
Reinsurer capital strength a cushion against loss volatility: S&P
18th October 2021
Analysts at S&P Global Ratings have reported that the very strong capital adequacy of the global reinsurance sector continues to provide it with a cushion against catastrophe risk and other large losses, which have proven extremely volatile in recent years. “The sector remains resilient to extreme events because of its robust ... Read the full article
Reinsurance: The data driven future – Register for this live webcast
18th October 2021
We're holding another live webcast on November 4th and this time the discussion will be focused on the use of technology within the reinsurance sector and the importance of data as a driver of future innovation. The webcast is being held in association with our ... Read the full article
Ransomware a growing concern for re/insurers, says Fitch
18th October 2021
As part of a new report on cybersecurity risks, analysts at Fitch Ratings have noted that ransomware in particular is becoming a “growing concern” for the re/insurance industry. The rating agency said cybersecurity is arguably reaching an “acute phase,” following high-profile events at several of the largest and most sophisticated insurance ... Read the full article
Andy Read joins ICEYE to lead global government solutions
18th October 2021
ICEYE, a commercial synthetic-aperture radar (SAR) satellite operator and flood data specialist, has appointed Andy Read to the role of Global Head of Government Solutions. With an extensive background in public policy, natural catastrophe resilience and re/insurance, Read will lead ICEYE’s efforts to deliver actionable, natural disaster data to public sector ... Read the full article