Reinsurance News
Everest hires SCOR’s Clement Demetz as Reinsurance CFO
19th September 2023
Everest has announced the appointment of Clement Demetz as Reinsurance Chief Financial Officer (CFO), bringing to the firm a wealth of experience in finance, risk management, and strategic planning. He joins Everest from SCOR, where he has worked for the past decade. He most recently served as Chief Financial Officer-EVP Finance-Americas. Prior ... Read the full article
Sedgwick launches new capability network to address industry-wide skills shortage
19th September 2023
Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, has announced that it has launched a new local capability framework for Australia, defining the art and science of loss adjusting. According to the announcement, the new framework, which includes the utilization of a dynamic mentoring model, has technical ... Read the full article
MENA reinsurers continue to benefit from positive pricing momentum: AM Best
19th September 2023
Reinsurers domiciled in the Middle East and North Africa (MENA) region reported double-digit growth in Gross Written Premium in 2022, with firms citing favourable global reinsurance pricing trends, inflation, new business opportunities, and corrective action to rates and terms and conditions as the leading drivers, as per an AM Best ... Read the full article
MS Amlin names Jessie Burrows as new CFO
19th September 2023
MS Amlin, the Lloyd’s global re/insurer, has announced Jessie Burrows is to succeed Phil Green, who is retiring, as Chief Financial Officer (CFO). Subject to regulatory approval, Burrows will assume her role at the beginning of 2024 and will report to Andrew Carrier, Chief Executive Officer (CEO). As part of a structured ... Read the full article
Current market environment is positive for Brit’s growth aspirations: Jon Sullivan
19th September 2023
According to Brit Group Deputy Chief Underwriting Officer, Jon Sullivan, the current market environment is a positive for Brit’s growth aspirations particularly on the short tail lines. At the 2023 RVS Monte Carlo event, Reinsurance News spoke with Sullivan about the opportunities he sees for Brit within the current market environment. He ... Read the full article
Inver Re launches global index practice after Johansmeyer appointment
19th September 2023
Inver Re, the reinsurance broking arm of the Ardonagh Group, has announced the launch of an integrated global index practice, to be led by Tom Johansmeyer. Johansmeyer's appointment as Inver Re’s Global Head of Index was announced earlier in the year. He joined the broker from Verisk, where he had ... Read the full article
Architecture in place, but progress on closing protection gap frustratingly slow: Swiss Re CEO
19th September 2023
Swiss Re, one of the world’s largest reinsurance companies, is passionate about closing the protection gap, and although much of the architecture is in place, progress has been frustratingly slow, according to Chief Executive Officer (CEO), Christian Mumenthaler. The protection gap is the difference between economic and insured ... Read the full article
Trisura appoints Terry Michalakos as SVP of North American Surety
19th September 2023
Specialty insurer Trisura Group Ltd. has announced the appointment of Terry Michalakos as the Senior Vice President (SVP) of North American Surety. Michalakos’ remit in the new role will include supporting surety teams across North America to underwrite strategic opportunities. The appointment comes as Trisura looks to participate in surety bond requirements ... Read the full article
Canopius enters domestic US Excess Casualty market
19th September 2023
Specialty insurer and reinsurer Canopius Group has announced the expansion of its U.S. Casualty business with its entry into the domestic U.S. Excess Casualty market on Canopius U.S. Insurance Company paper. The re/insurer says that this move underscores its commitment to expanding its footprint in the U.S. insurance sector and enhancing ... Read the full article
Higher reinsurance costs will take several years to get fully passed through: BMO Capital Markets
19th September 2023
Analysts at BMO Capital Markets have said that it will take some years for the elevated cost of reinsurance coverage to get fully passed through by primary insurers, if they are even fully passed through. BMO Capital Markets explains that underlying property-replacement cost inflation has already been running at between 6% ... Read the full article
Kelly Beaudoin to lead AXIS Capital Partnership Office
19th September 2023
AXIS Capital has announced the appointment of Kelly Beaudoin as Head of the company’s Partnership Office, a cross-functional team that guides the organisation’s change management programs. In this newly created role, Beaudoin will work with AXIS President and CEO Vince Tizzio and the company’s leadership team to guide the implementation of ... Read the full article
APAC reinsurers pivot to non-property lines in search of earnings diversification: AM Best
19th September 2023
AM Best’s report on a select group of Asia-Pacific reinsurers, reveals that some players have pivoted towards non-property lines of business as appetite for catastrophe-exposed property risk has diminished on the back elevated catastrophe activity in the region. Various reinsurers in the region cut their participation in both domestic and overseas ... Read the full article
HUB announces completion of “substantial” minority investment
19th September 2023
Global insurance brokerage HUB has successfully completed a substantial minority investment from Leonard Green & Partners, L.P. (LGP), along with several other prominent institutional minority investors. HUB had previously announced the deal with LGP in April 2023, confirming that it expects to receive a “substantial” minority investment from funds managed ... Read the full article
Skyward Specialty expands healthcare coverages, adds new solution for E&S providers
19th September 2023
Skyward Specialty Insurance Group, Inc. is set to expand its coverages in the healthcare sector, by adding a new solution that will cater to the needs of E&S individual providers, including physicians. As the healthcare landscape continues to present a variety of new challenges and opportunities for healthcare professionals, especially for ... Read the full article
AM Best negative on US homeowners, says return to underwriting profit unlikely in 2023
18th September 2023
Global ratings agency AM Best has revised its outlook for the U.S. homeowners segment to negative from stable, citing the deterioration of underwriting results, rising loss costs, inflation, firm reinsurance market conditions, and the retreat from catastrophe-exposed states. AM Best notes that its negative outlook reflects a number of ongoing challenges ... 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.
