Reinsurance News
Sovereign risk pools summit results in joint MOU focused on disaster resilience
17th October 2023
Parametric disaster insurance risk pools African Risk Capacity Limited (ARC), Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), the Pacific Catastrophe Risk Insurance Company (PCRIC), and the Southeast Asia Disaster Risk Insurance Facility (SEADRIF), have signed a Memorandum of understanding (MOU). At the same time, the businesses will also explore a joint ... Read the full article
Zurich names Mattias Fritz as CEO of Zurich Nordic
17th October 2023
Zurich, a leading global insurance provider, has announced the appointment of Mattias Fritz as the new CEO of Zurich Nordic, effective from November 1, 2023. This move underscores Zurich's commitment to supporting customers and brokers in navigating the ever-changing risk landscape, with a strong emphasis on further growth in the region. In ... Read the full article
Vellum exits stealth with $7m seed round for its AI-enabled insurance analytics platform
17th October 2023
Analytics and data management platform for the re/insurance industry, Vellum Insurance, has exited stealth with a $7 million seed round led by Acrew Capital, with participation from Flourish Ventures, Fin Capital, Vera Equity, Endurance and 1 Sharpe Ventures. Founded in 2022, Vellum’s analytics and data platform possesses the ability to connect ... Read the full article
Jeff Irvan to lead BRP Group’s new reinsurance broking platform
17th October 2023
BRP Group, an independent insurance distribution company, has announced the launch of Juniper Re, its new reinsurance broking platform, to be led by former BMS Re Chief Property Officer Jeff Irvan. Juniper Re was created to expand BRP Group’s breadth of capabilities and capitalise on a unique market opportunity, the company ... Read the full article
Lockton Re signs agreement with Supercede to refine its reinsurance data
17th October 2023
Global reinsurance broker Lockton Re has signed a long-term agreement with Supercede to refine its reinsurance data. Lockton Re said it has now become the first major reinsurance broker to adopt wholesale usage of Supercede's treaty data preparation platform, having seen an increase in adoption among their mutual clients. The firm added, ... Read the full article
S&P Global Ratings revises outlook on AIG to stable, affirms ratings
17th October 2023
S&P Global Ratings announced a revision of its outlook on American International Group Inc. (AIG), a global multiline insurer, and its core property and casualty (P/C) subsidiaries (excluding Validus Re) to stable from negative. Concurrently, S&P affirmed AIG's issuer credit ratings at 'BBB+/A-2' and its insurer financial strength ratings for AIG's ... Read the full article
Pro MGA appoints David Goodley as its new Head of Compliance
17th October 2023
Pro MGA Global Solutions, the independent managing general agent (MGA) incubation division of Pro Global Holdings Limited, has appointed David Goodley as its new Head of Compliance. Goodley holds extensive experience as a compliance professional, having established his own company, City Compliance, in 2012 which provides regulatory compliance services across the ... Read the full article
El Oulhani joins Sompo as Head of Distribution & Client Relationship Management in France
17th October 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has appointed Redouane El Oulhani as Head of Distribution & Client Relationship Management, Insurance for France. His appointment comes as the company is in the process of establishing insurance operations in France, subject to required regulatory notifications. Based in ... Read the full article
Aviva partners with hyperexponential for pricing transformation
17th October 2023
Aviva’s Global Corporate and Specialty (GCS) team has announced it is using hyperexponential’s Pricing Decision Intelligence (PDI) platform, hx Renew, to deliver pricing models in record time. Thanks to hx Renew, the GCS team has been able to build 20 new insurance pricing models in just nine months. Now underwriters can ... Read the full article
Aon appoints Brian Wanat as Head of Commercial Risk, NA
17th October 2023
Insurance and reinsurance broking group, Aon, has appointed Brian Wanat as the new Head of Commercial Risk for North America. Wanat has been with Aon for more than 21 years, and most recently served as Chief Broking Officer of U.S Commercial Risk Solutions, a role he assumed in 2018. In this ... Read the full article
Federal Life, Hannover Re & Vidale Marketing bring later life annuity solution to US consumers
17th October 2023
Federal Life Insurance Company, a provider of insurance and annuity products, has teamed with global reinsurer Hannover Re, and later life insurance specialists Vidale Marketing Group, to bring a later life annuity solution to US consumers. The new solution, MyImmediateCarePlan (MyICP), is a medically underwritten single premium immediate annuity available to ... Read the full article
B.P. Marsh sees net asset value increase to £203.5m in H1’23
17th October 2023
Specialist private equity investor B.P. Marsh & Partners Plc has reported that Net Asset Value increased to £203.5 million in its half-year results for the six months to 31st, July, 2023, from £189.5 million as at January 31st, 2023, and £179.8 million a year earlier. According to the firm, this equates ... Read the full article
UK’s Pool Re renews reinsurance broking contract with Guy Carpenter
17th October 2023
Pool Re, the UK Government’s terrorism reinsurance scheme, has reported it successfully renewed its reinsurance broking contract with Guy Carpenter for three years, with an option to run to five. According to the announcement, Guy Carpenter will support Pool Re in returning risk and premium to the private sector, which in ... Read the full article
Howden launches Climate Parametrics practice
17th October 2023
Howden has announced the creation of Howden Climate Parametrics, a global practice that "brings together (re)insurance, climate, and data expertise to focus parametric risk transfer solutions on meeting the escalating demand for climate de-risking capabilities across industries, financial markets, and the public sector." Co-chairs Philipp Kusche, Global Head of Insurance-Linked Securities ... Read the full article
Ki teams with Travelers & Aspen to expand digital follow capacity
17th October 2023
Ki, the first fully digital and algorithmically-driven Lloyd's of London syndicate, has announced a partnership with Travelers and Aspen which will offer additional follow capacity through its digital platform from January 1, 2024. As a result of this major collaboration, Ki will become the first algorithmic underwriter in the market to ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
