Reinsurance News
Amwins MGA Unicorn Underwriting secures box at Lloyd’s
13th February 2024
Unicorn Underwriting, the London-based Managing General Agent (MGA) of Amwins, has announced it has secured a box at Lloyd's, demonstrating the firm's commitment to "maintaining excellent service levels" and its belief in face-to-face trading. Simon Jackson, Managing Director of Unicorn Underwriting, commented, "We're so pleased to be taking this Lloyd's box. "In ... Read the full article
Chedid Re announces two new appointments to Facultative Division
13th February 2024
Reinsurance broker Chedid Re has announced two new appointments within its Facultative Division, Patricia Atallah as Senior Director of the firm’s Property portfolio and Jalal Tabaja as Senior Director of Energy, Marine & Specie. Based in Lebanon, Atallah brings to her new role close to two decades of industry experience. She takes ... Read the full article
ACORD establishes Global Advisory Council to drive industry-wide collaboration
13th February 2024
ACORD has announced the establishment and inaugural meeting of the ACORD Global Advisory Council (GAC), which is set to drive industry-wide collaboration and digitalisation. The GAC members represent the interests of (re)insurers, brokers, and other insurance stakeholders across various geographies. Founding member organisations include ACORD, Lloyd’s of London, International Underwriting Association of ... Read the full article
Acrisure launches Aerospace division to meet industry needs
13th February 2024
Acrisure, a global Fintech company, has introduced Acrisure Aerospace, a new division focused on meeting the specific needs of the aerospace industry. Under the leadership of Managing Partner Jason Riley, Acrisure Aerospace brings together several Acrisure businesses. Whether it's personal planes, commercial flights, or rocket launches, Acrisure Aerospace assists clients in ... Read the full article
GBN Worldwide launches GBN Risk Solutions to facilitate international insurance business
13th February 2024
GBN Worldwide, a global network of re/insurers, independent brokers, and specialty suppliers, has unveiled its latest venture, GBN Risk Solutions (GBN RS), a London-based independent broker and Managing General Agent (MGA). This strategic move aims to bolster international business for the network and its members, offering a conduit for the placement ... Read the full article
ARC Ltd. partners with US gov to expand parametric insurance in Africa
13th February 2024
African Risk Capacity Limited (ARC Ltd.) and the United States Government (USG) have entered into a $11.7 million partnership to increase access to parametric insurance in Africa and safeguard food security. According to ARC Ltd., this newly announced project aims to protect vulnerable smallholder farmers facing increasing climate change-related disasters while ... Read the full article
CFC appoints SCOR’s Samantha Tanner as Chief Actuary
13th February 2024
CFC, the specialist insurance provider with expertise in emerging risk and cyber, has appointed Samantha Tanner, formerly of global reinsurer SCOR, as its new Chief Actuary. Tanner brings more than two decades of insurance experience in the Lloyd’s market and internationally to the role. She started her actuarial career at KPMG ... Read the full article
Tokio Marine (TMHCCI) appoints Nicola Hannay as Head of Power Generation in London
13th February 2024
Tokio Marine HCC International (TMHCCI), a member of the Tokio Marine HCC group of companies, has appointed Nicola Hannay as the Head of Power Generation, effective immediately, reporting to Ben Kinder, Chief Underwriting Officer - Marine, Energy and Renewables. Based out of the firm's London energy practice, Hannay's appointment will work ... Read the full article
Stonybrook ‘proud’ to work with Heritage on $25m public offering
13th February 2024
Stonybrook Capital, LLC and its affiliates served as Financial Advisor for super-regional property and casualty insurance holding company, Heritage Insurance Holdings’ recently completed public offering. Heritage announced the successful conclusion of its primary public offering of common stock back in December. The gross proceeds totalled approximately $25 million before accounting ... Read the full article
GFIA report stresses unique stability of insurance sector, warns against unnecessary regulations
13th February 2024
In a recent publication by the Global Federation of Insurance Associations (GFIA), the unique characteristics of the insurance industry have been emphasised, highlighting the need for policymakers to consider these distinctions when formulating future regulations. The report, titled "Insurance: A unique sector," underscores the highly regulated nature of the insurance sector, ... Read the full article
Compre implements management changes to drive global operations
13th February 2024
In response to significant growth and recent successful transactions, Compre, the Bermuda-based international legacy group, has announced pivotal management changes aimed at enhancing operational efficiency and global client solutions. The establishment of a Global Claims and Operations function marks a strategic consolidation within Compre, ensuring optimal portfolio management and client service ... Read the full article
Burns & Wilcox names Hiscox’s Wood head of Professional Liability practice
13th February 2024
Wholesale insurance brokerage and underwriter, Burns & Wilcox, has announced the appointment of Andy Wood as Vice President and Practice Group Leader, Professional Liability. In his new role, Wood will be responsible for working across Burns & Wilcox to build a cohesive strategy and develop new products and programs while aggressively recruiting ... Read the full article
Investors have mixed views on how UK S2 reforms may impact insurer credit quality: Fitch
12th February 2024
Investors appear to have mixed views on the impact of post-Brexit Solvency II (S2) reforms on UK insurers’ credit quality, according to Fitch Ratings. At a recent Insurance Insights event in London, that was attended by investors, issuers, as well as other market participants, an audience poll showed that 30% thought ... Read the full article
Loadsure to provide “market leading coverage” with new Motor Truck Cargo Insurance
12th February 2024
Insurtech managing general agent (MGA), Loadsure has launched a Motor Truck Cargo Insurance product powered by data and purpose-built for the logistics community. Named Columbia™- Motor Truck Cargo and Logistics Services Insurance, Loadsure’s new product aims to provide market leading coverage, protecting motor carriers, freight brokers, and freight forwarders against damage ... Read the full article
Renewal rates for nearly all commercial lines up year over year: Ivans
12th February 2024
In the January 2024 results for the Ivans Index - the insurance industry’s premium renewal rate index - year over year, all major commercial lines experienced an increase in average premium renewal rates. Ivans explained that month over month, Workers’ Compensation experienced an increase in premium renewal rate change, while Commercial ... Read the full article
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