Reinsurance News
Dale Underwriting Partners adds Pettifer to Property Open Market team
17th August 2023
Dale Underwriting Partners (DUP), the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has appointed Robert Pettifer as Underwriter in the Property Open Market Team, effective 6 November 2023. In his new role, based in London, he will support the property open market team’s growth strategy as it aims ... Read the full article
SiriusPoint names Anthony Shapella as Deputy Chief Underwriting Officer
17th August 2023
Global specialty insurer and reinsurer SiriusPoint has appointed Anthony Shapella as Deputy Chief Underwriting Officer, effective from the 5th of September, 2023. Shapella joins SiriusPoint from AIG, where he held several senior roles throughout his decade tenure. These include Global Head of Portfolio Analytics, Chief Risk Officer for Financial and Liability Lines ... Read the full article
Gallagher Re appoints Andres Posada as EVP, Head of Sales, LatAm & Caribbean
17th August 2023
Global reinsurance broker Gallagher Re has announced the appointment of Andres Posada as Executive Vice President (EVP), Head of Sales for its Latin America and Caribbean region. The position is based in Miami, with Posada reporting to Edson Wiggers, CEO of Latin America and the Caribbean. He will join the broker ... Read the full article
PERILS increases Cyclone Gabrielle insured loss estimate to NZ $2.018bn
17th August 2023
Zurich-based catastrophe insurance data provider PERILS AG has released its third insured loss estimate for Cyclone Gabrielle, which impacted the North Island of New Zealand in February, pegging the total at NZ $2.018 billion. According to PERILS, the figure is composed of personal lines property losses, which represent 54%, and commercial ... Read the full article
Colin Forrest to lead Oliver Wyman UK Actuarial Practice
17th August 2023
Oliver Wyman, a global management consulting firm and a business of Marsh McLennan, has established an actuarial practice in the United Kingdom and appointed Colin Forrest as Partner and UK Actuarial Leader. Oliver Wyman Actuarial is a specialist business within the Oliver Wyman Group, providing actuarial services to insurers, investors, healthcare ... Read the full article
Swiss Re partners with One Concern to reveal nat cat business interruption risk
17th August 2023
Reinsurance giant Swiss Re and One Concern, an AI physical risk company, have announced a strategic partnership that is set to enhance the underwriting and management of nat cat business interruption risk. The partnership between the two companies will see One Concern's Business Interruption Risk Scores and Metrics DNA product become available ... Read the full article
P&O obtains benefits of remaining pensioners in £440m buy-in with Rothesay
17th August 2023
P&O Pension Scheme has insured £440 million in liabilities through a full buy-in with Rothesay, securing benefits for around 5,300 members. The deal, which was agreed earlier this month means that the benefits for all the scheme’s members are now insured, following a previous buy-in agreement in 2007 with Paternoster which covered ... Read the full article
Corebridge Financial appoints new Head of Investor & Rating Agency Relations
17th August 2023
American multinational financial services company, Corebridge Financial, has announced the appointment of Isil Muderrisoglu as the Head of Investor and Rating Agency Relations, effective immediately. Muderrisoglu will report to Elias Habayeb, Chief Financial Officer (CFO) of Corebridge Financial. Habayeb commented on the hire: “Corebridge has made significant progress against the strategic initiatives ... Read the full article
BRP Group targets global expansion with launch of International Center of Excellence
17th August 2023
BRP Group, Inc., an independent insurance distribution firm, has launched its new International Center of Excellence (COE) to provide exemplary insurance solutions for clients with international operations, as well as those exploring international expansion. The newly launched COE is an addition to the firm’s growing portfolio of specialty practices, which strategically ... Read the full article
S&P revises Swiss Re outlook to stable from negative on continued performance improvement
16th August 2023
S&P Global Ratings today revised its outlook to stable from negative on Swiss Re and its core subsidiaries, as well as affirmed the ratings on these entities. According to the rating agency, the outlook revision to stable reflects improvements in Swiss Re's underwriting performance since 2021 and its expectation that the ... Read the full article
COGITANDA names Jens Lison as Chief Insurance Officer
16th August 2023
Germany headquartered manager and insurer of cyber risks, COGITANDA Dataprotect AG, has appointed Jens Lison as a member of the Executive Board and Group Chief Insurance Officer (CIO), effective 1st September 2023. Currently, the Executive Team consists of Jörg Wälder, Chief Executive Officer (CEO), Christian Sagawe, Chief Operating Officer (COO) and ... Read the full article
IRB (Re) posts underlying profit in Q2’23 vs year-ago loss
16th August 2023
Brazilian reinsurance company IRB (Re), which was formerly named IRB Brasil Re, has reported an underwriting profit of R$35.4 million for the second quarter of 2023, compared with an underwriting loss of R$661.0 million in the second quarter of 2022. The reinsurer posted a net income in Q2'23 of R$20.1 million, ... Read the full article
Insured losses from Maui wildfire to fall between $2.5bn and $4.5bn: Bloomberg Intelligence
16th August 2023
The property and casualty insurance equity analyst team at Bloomberg Intelligence has estimated that the insurance industry loss from the Maui wildfires will fall between $2.5 billion and $4.5 billion. This estimate gives an insured loss mid-point of $3.5 billion, which is higher than the $3.2 billion insured property loss ... Read the full article
Top 10 brokers now live on PPL Next Gen risk placement platform
16th August 2023
Placing Platform Limited has announced that the top ten brokers are now all live on its Next Gen risk placement platform, the new version of the London insurance market’s electronic trading platform, as the market "heads towards full transition by October 1st." As per PPL, the three largest global brokers - ... Read the full article
Zurich Resilience Solutions expands Sustainability Services team
16th August 2023
Zurich Resilience Solutions (ZRS), a global provider of Risk Engineering, mitigation and resilience-building services, has expanded its Sustainability Services team in the US, adding Jessica Balsam as Head of Climate Solutions, and Elise White as Director of Workforce Resilience Services. Balsam most recently worked with Ernst & Young Climate Change and ... Read the full article
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