Reinsurance News
AXIS’ Energy Transition Syndicate 2050 to start underwriting in April
4th March 2024
Provider of re/insurance solutions, AXIS Capital Holdings Limited, has announced the Energy Resilience Syndicate 2050 has now received full approval from Lloyd’s and will begin underwriting from April 1, 2024. Created to provide capacity for new energy projects, Syndicate 2050 was launched last December and had received in-principle approval from ... Read the full article
SiriusPoint hires Christopher Larson as Global Head of Casualty
4th March 2024
SiriusPoint Ltd., the global specialty re/insurer, has announced a series of key leadership appointments within global underwriting, including Christopher Larson joining the firm as Global Head of Casualty, based in New York, At the same time, the company has also hired David Godlis as Underwriting Strategy and Analytics Lead, based in ... Read the full article
ABI launches guide to help firms in the insurance industry use AI responsibly
4th March 2024
The Association of British Insurers (ABI) has launched a new guide to help insurance firms use artificial intelligence (AI) responsibly. The guide, which focuses on the best interests of consumers, sets out how those working in the insurance and long-term savings industry can put into practice the UK government’s five principles ... Read the full article
SCOR confirms departure of reinsurance CEO Stuart McMurdo
4th March 2024
SCOR, one of Europe's big four reinsurers, has confirmed that Stuart McMurdo, Chief Executive Officer (CEO) of its reinsurance segment, is to leave the company. McMurdo joined SCOR in 2018 as CEO of SCOR UK and the SCOR Syndicate, later becoming Regional CEO for EMEA. In 2022, it was announced that ... Read the full article
WTW expands Global Specialty team with addition of Julien Bosc as Director
4th March 2024
WTW, a global advisory, broking and solutions company has appointed Julien Bosc to a newly created role as the Global Specialty Director within the company’s Insurance Consulting and Technology (ICT) business. Bosc will be based in London and report to Richard Clarkson, Global Market Leader of WTW Global Speciality. He will be ... Read the full article
Julien Horn joins McGill and Partners’ ports and terminals team
4th March 2024
Specialist re/insurance broker McGill and Partners has appointed Julien Horn as Partner within its ports and terminals team, headed up by Julien Hubbard, adding expertise in logistics and transportation. Horn joins McGill and Partners from TT Club, an independent provider of mutual insurance to the international transport and logistics industry. He worked ... Read the full article
Aviva & Howden team up to insure solar subscription service start-up
4th March 2024
Aviva, an insurance and financial services company, has partnered up with Howden to provide bespoke insurance to Sunsave, a start-up which offers homeowners solar panels on a subscription service. From what we understand, the insurer and broker worked together with Sunsave to create a bespoke construction and operation cover policy for ... Read the full article
Inigo, Samsara launch data-driven product to revolutionise fleet insurance
4th March 2024
Inigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara's telematics data to develop a new type of insurance product tailored ... Read the full article
Acrisure Re hires Howden Tiger’s Joel Hodges as EVP
4th March 2024
Acrisure Re, the re/insurance division of Acrisure, has hired Joel Hodges as Executive Vice President, where he will be based in London with a global role. With a career spanning over 25 years across the re/insurance industry, Hodges brings a deep level of expertise towards his new role. Throughout his career, Hodges ... Read the full article
R&Q continues to evaluate options for its Legacy Insurance business
4th March 2024
Global non-life specialty insurer R&Q Insurance Holdings Ltd (R&Q) has confirmed it is still exploring different strategic options for its Legacy Insurance business. However, it anticipates finalising the sale of its Accredited business by the end of the second quarter of 2024. In April 2023, R&Q's Board announced plans to explore ... Read the full article
Aon appoints Rishi Mehra as Head of India
4th March 2024
Insurance and reinsurance broker Aon has named Rishi Mehra as the Head of India, reporting to Anne Corona, Chief Executive Officer of Asia Pacific. Mehra will begin transitioning to his new role immediately and will be based in Mumbai by mid-2024. The appointment sees Mehra join Aon’s Asia Pacific Executive Committee ... Read the full article
Dale Underwriting names Curran Head of Global Property Reinsurance
4th March 2024
Dale Underwriting Partners, the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Will Curran as Head of Global Property Reinsurance, effective 11 March, 2024. Based in London, Curran will be responsible for building and optimising Dale's Global Property Reinsurance business. He will report to Dominic Peters, Active Underwriter. Curran ... Read the full article
Progressive renews agg XoL reinsurance with lower retentions, upsizes shared hurricane limit
4th March 2024
Property and auto-focused insurance group, Progressive, renewed its aggregate excess of loss (XoL) reinsurance program for its property business at the January renewals with a lower retention for both layers, and has also renewed and upsized its hurricane coverage for the 2024 wind season. The new aggregate XoL reinsurance arrangement entered ... Read the full article
Australian summer insured cat losses reach $1.2bn: ICA
4th March 2024
The Insurance Council of Australia (ICA) has revealed that losses from declared insurance catastrophes over the summer have now reached $1.2 billion. According to the ICA, the two major events in this period were Ex-Tropical Cyclone Jasper, which impacted regions from Cape York Peninsula to Townsville from 10 to 16 December, ... Read the full article
Aviva to acquire Probitas for £242m
4th March 2024
UK-domiciled insurer Aviva Plc will acquire 100% of Probitas Holdings (Bermuda) Limited, the ultimate holding company of the Probitas Group, for a minimum fixed consideration of £242 million, marking the firm's entry into the Lloyd's market. The transaction includes the acquisition of Probitas’s fully integrated Lloyd’s platform, encompassing its Corporate Member, ... Read the full article
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