Reinsurance News
LM Re appoints Cesare Mollica to senior underwriter role
30th June 2021
Liberty Mutual Reinsurance has announced the promotion of Cesare Mollica to the role of Senior Underwriter. Mollica has been with LM Re since 2015 and has operated as a key member of its European team, helping to set up an office in Milan. In his new role he will continue to write ... Read the full article
Parsyl sets record for parametric temperature claim payout
30th June 2021
Parsyl, a provider of insurance for essential supply chains, has settled a marine cargo insurance claim in 7 hours and 40 minutes, in what it says is a new industry record. The spoilage claim was paid to Niceland Seafood through Parsyl’s ColdCover Parametric product, which uses smart sensors and pre-configured spoilage ... Read the full article
BMS Re adds Guy Carpenter’s Shruti Sem as EVP
30th June 2021
Independent reinsurance broker BMS Re has appointed Shruti Sem as executive vice president in the firm's origination team. Based in Philadelphia, Sem will report to Jeff Irvan, chief property officer of BMS Re in the US. She brings over 20 years’ experience to the role and joins from rival broker Guy Carpenter. Prior ... Read the full article
SCOR gains shareholder approval for CEO changeover
30th June 2021
SCOR received shareholder approval for all resolutions submitted at its General Meeting today, including for the separation of the roles of Chairman and CEO as Denis Kessler hands over his executive role to Laurent Rousseau. The renewal of the director mandates of Denis Kessler, Bruno Pfister et Claude Tendil were ... Read the full article
Ardonagh launches reinsurance broker Inver Re
30th June 2021
The Ardonagh Group is set to launch a new reinsurance broker with ambitions to become a top five global player, called Inver Reinsurance Brokers Limited. The new brokerage aims to leverage the scale, resources and reach of its parent, attract and empower the best talent in the industry and become a ... Read the full article
Argenta announces two board appointments
30th June 2021
Argenta Private Capital Limited (APCL) has appointed two board members in newly created roles after David Monksfield announced he will be stepping down from his role as executive chairman as well as his other associated directorships. Monksfield will remain within the group as a senior consultant, holding a career which spans ... Read the full article
RMS to provide models, services to Saudi Re
30th June 2021
RMS is set to provide Saudi Re with models and services for a more comprehensive view across the Asian market. The agreement will enable Saudi Re to enhance risk analysis across multiple geographies including India, China, and the Philippines. Saudi Re continues to grow its activities and client base in the Asian ... Read the full article
AXA XL names David Hughes head of hull, UK & Lloyd’s market
30th June 2021
AXA XL, the property & casualty and specialty risk division of AXA, has promoted David Hughes to Head of Hull, UK & Lloyd’s market, effective as of 1 July 2021. In his new role, Hughes will be responsible for leading AXA XL’s hull business for the UK & Lloyd’s region and driving ... Read the full article
DoJ’s Feb 2022 trial date ‘untenable’ and prolongs uncertainty, says Aon/WTW
30th June 2021
Lawyers of global re/insurance brokers Aon and Willis Towers Watson (WTW) have described the US Department of Justice's (DoJ) proposal that its trial seeking to block their merger not commence until February of next year as "untenable". In an effort to stop the creation of what it calls a "broking behemoth", ... Read the full article
BHSI adds to D&O Liability and Professional Indemnity policies in Ireland
30th June 2021
Berkshire Hathaway Specialty Insurance (BHSI) has added to its suite of Directors & Officers (D&O) Liability and Professional Indemnity policies for customers in Ireland. The company has launched a new suite of Professional First coverages that includes Architects, Engineers & Consultants Professional Indemnity and Project Specific Professional Indemnity, Design & Construct ... Read the full article
AI enabled NOW Insurance partners with Hiscox
30th June 2021
AI-enabled insurance platform NOW has announced a partnership with Hiscox on medical malpractice insurance policies for health care professionals on its direct-to-consumer marketplace. Through Hiscox, health care professionals will be able to access medical malpractice insurance plans tailored to their specific needs and work requirements. Effective immediately, they can visit the Hiscox ... Read the full article
Insurance Europe endorses single market for data
30th June 2021
Insurance Europe has lent its support to the European Commission’s call to create a single market for data that combines information from public bodies, businesses and citizens. For insurers, the EU body says that a greater availability of data could lead to improved risk monitoring and assessment, better customer experiences and ... Read the full article
Guy Carpenter strengthens Non-Marine Specialty practice
30th June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the additions of James Johns as Managing Director and Joshua O’Donoghue as Senior Vice President (SVP) within its Non-Marine Specialty unit. Johns, who takes on his new role from August 12th, will operate as a leading broker and account executive ... Read the full article
FGRe inks contract with leading insurtech firm
30th June 2021
Reinsurance and investment management firm FG Financial Group has announced that its reinsurance subsidiary, FG Reinsurance (FGRe), has entered into a contract with a leading Insurtech company. This is FGRe’s second reinsurance contract written since FG Global launched the subsidiary in June 2020. The contract provides automotive insurance utilising driver monitoring to ... Read the full article
South Africa asks for further divestments in Aon / WTW remedy package
29th June 2021
The Competition Commission of South Africa (CCSA) has required that brokers Aon and Willis Towers Watson (WTW) make a number of significant divestments to remedy competition concerns before their pending merger can be approved in the country. The regulator has asked that the brokers divest WTW’s entire global reinsurance broking business ... Read the full article