Reinsurance News
The Hanover appoints Charles Hamann as President of small commercial
22nd August 2023
The Hanover Insurance Group, Inc. has announced the appointment of Charles Hamann as the President of small commercial. He replaces Michael Keane, who has taken on a new role to focus on the company's long-term strategy. Hamann is a market veteran with 35 years of industry experience. In his new role, his ... Read the full article
Aston Lark Ireland acquires Finance Solutions
22nd August 2023
Aston Lark Ireland, a Howden company, has announced it has agreed terms to acquire Kegra Limited (Finance Solutions), strengthening its offering to the mortgage broking market. Founded in 2011 by Ken Murray, Finance Solutions is a financial services company based in Dublin. The firm specialises in mortgage broking, as well as providing ... Read the full article
APAC sees increased demand for solutions in Q2, insurers focused on retention and growth: Aon
21st August 2023
An increased demand for insurance solutions has been seen in the Asia-Pacific region (APAC) as its economies open to the rest of the world and businesses look to grow, this was met by insurers focused on retention and targeted growth, according to Aon’s Q2 2023 Global Market Insights report. The pricing ... Read the full article
Mosaic names David Drogin SVP, Head of US, Cyber
21st August 2023
Mosaic Insurance has appointed David Drogin to lead the growth of its US cyber business. Drogin joins Mosaic's New York office as Senior Vice President, Head of US, Cyber, and will report to the Global Head of Cyber, Yosha DeLong. Drogin is a senior cyber insurance professional and lawyer with almost two ... Read the full article
AXA XL names Glen Hopkinson as Country Manager for Canada
21st August 2023
AXA XL, a leading global insurance and reinsurance company, has announced the appointment of Glen Hopkinson as the new Country Manager for Canada, effective immediately. Hopkinson, who has demonstrated his capabilities as the interim leader in recent months, will take on the role of overseeing the company's insurance operations within the ... Read the full article
US general insurance industry to exceed $3 trillion by 2027: GlobalData
21st August 2023
The US general insurance industry is estimated to grow at a compound annual growth rate (CAGR) of 8.5% from $2.18 trillion in 2023 to a substantial $3.03 trillion in 2027, in terms of gross written premiums (GWP). Leading data and analytics company, GlobalData's Insurance Database shows that the US general insurance industry ... Read the full article
African Risk Capacity adds two non-exec directors to its Board
21st August 2023
The African Risk Capacity Limited (ARC Ltd.), a financial affiliate of the African Risk Capacity (ARC) Group, has appointed two non-executive directors to its Board. The company has appointed both Deepak Dave and Maxwell Mkwezalamba for a three-year term, ending with the ARC Ltd. AGM in 2026. Together, they both bring a ... Read the full article
Unlikely to see emergence of new global reinsurer class in 2023: AM Best
21st August 2023
In a recent assessment of the global reinsurance industry, AM Best analysts have indicated that despite favourable market conditions, a new class of global reinsurers is unlikely to emerge in 2023. The analysis points to several factors that contribute to this projection. While the market has experienced historically high insurance rates, ... Read the full article
The firms that are producing the best results are the ones that possess better data: HSCM’s Jones
21st August 2023
During a recent interview with Reinsurance News, Adrian Jones, Partner, HSCM Ventures, explained how one of the biggest issues that he hears across the industry is the quality of data reaching reinsurers and retrocessionaires. Data and technology are two fundamentals of re/insurance. The most successful brokers and insurers are the ones ... Read the full article
Beazley expands Incubation Underwriting team with Amy Ing’s appointment
21st August 2023
Joining from Liberty Specialty, Amy Ing has been appointed to Beazley’s Incubation Underwriting team, which focuses on discovering, designing and underwriting breakthrough new solutions and partnerships. Since its formation in 2020 the team has developed and collaborated on a range of new solutions, including Beazley’s Reputational Risk insurance policy, Assureful for ... Read the full article
Latin Re obtains license to operate directly at Lloyd’s
21st August 2023
Latin Re, an independent brokerage founded in 2019, becomes the first Brazilian broker to obtain a license to operate directly at the specialist Lloyd's insurance and reinsurance marketplace. Operating directly at Lloyd's allows Latin Re to sell reinsurance risks from across Latin America directly to London underwriters. This market opening brings ... Read the full article
Marsh to acquire Honan Insurance Group
21st August 2023
The insurance broker and risk advisor arm of Marsh McLennan, Marsh, has reached an agreement to acquire 100% of the outstanding share capital of Honan Insurance Group Pty Ltd, a specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance. Terms of the acquisition, ... Read the full article
Compre expands US operation with seven new hires
21st August 2023
Bermuda-headquartered Compre, an international legacy group, has announced the appointment of seven US claims specialists, effective immediately. To accommodate the new team members - all of whom will report to North America claims director Bill Bouvier - Compre has moved its US headquarters to new offices in Manchester, New Hampshire. The appointments ... Read the full article
Jan renewals highlighted difference between ‘available’ and ‘deployed’ capacity: AM Best
21st August 2023
“The January 2023 renewals highlighted the mismatch between supply and demand, but it’s also important to recognize the difference between ‘available’ and ‘deployed’ capacity. Available capital is not under pressure; however, the well-established global reinsurers have become much more cautious allocating their capital, which pressures the deployment of capacity,” suggests ... Read the full article
BMA & White Rock joint action violates automatic stay provision, says Vesttoo
21st August 2023
In a recent filing to the U.S. bankruptcy court, insurtech Vesttoo has said that joint action launched in the Supreme Court of Bermuda by the Bermuda Monetary Authority (BMA) and Aon's White Rock (SAC) Ltd. last week, violates the automatic stay under its Chapter 11 cases. On Friday, the BMA ... Read the full article
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