Reinsurance News
CRC Group announces leadership changes and new Starwind Transportation Brand
2nd August 2023
CRC Group, a prominent wholesale specialty insurance distributor in North America, has announced significant changes coming to its Nashville office and Starwind Programs Division. In the Nashville office, Farrah Schubmehl, a seasoned insurance industry professional with over 24 years of experience, will be assuming the role of office president as of ... Read the full article
Companies make strides in cyber defense and resilience amid escalating cyber threats: Aon
2nd August 2023
In Aon's latest Cyber Resilience Report, companies are shown to have made significant strides in strengthening their cyber defenses and achieving greater resilience in the face of escalating cyber threats. The report reveals key insights gathered from over 2,000 Aon clients worldwide, showcasing a positive global shift in cyber maturity from ... Read the full article
Jonathan Schmitt returns to MS Amlin Marine in Paris as underwriter
2nd August 2023
Re/insurer MS Amlin Marine in Paris is delighted to announce the return of Jonathan Schmitt. Schmitt, a former esteemed member of the team from 2018 to 2022, has rejoined as an underwriter, where he will be providing his expertise across both Charterer’s Liability and Shipowners P&I product lines. Schmitt joins from Eyssautier-Verlingue ... Read the full article
Slide approved for significant takeout of Florida’s Citizens policies: CEO Lucas
1st August 2023
Bruce Lucas, the Chief Executive Officer (CEO) of full-stack insurtech Slide Insurance, has revealed to our sister publication Artemis that the firm has been approved for an up to 100,000 takeout of policies from Florida's Citizens Property Insurance Corporation, which would represent substantial growth for the firm. "We were just approved ... Read the full article
Steve Ryland joins Acrisure Re as Global Head of Legacy
1st August 2023
Steve Ryland has joined Acrisure Re, a full-service re/insurance intermediary and capital management advisor, as Global Head of Legacy. He joins from Catalina Holdings (Bermuda) Ltd., where he served in various roles which include Group Chief Commercial Officer and Group Head of Global Distribution. Ryland served as CEO of Catalina UK, prior ... Read the full article
United Fire Group estimates $33m cat losses in Q2
1st August 2023
US property and casualty insurer, United Fire Group (UFG), has reported its estimates for the second quarter of 2023 results which include pre-tax catastrophe losses of $33 million. The company expects a net loss of $2.23 per diluted share, and an adjusted operating loss of $2.27 per diluted share. The preliminary ... Read the full article
MGA Converge raises $15m in Series A funding from Forgepoint Capital
1st August 2023
Converge Insurance, pioneers in advanced cyber risk management and underwriting have raised $15 million in Series A funding from Forgepoint Capital. At the same time, Forgepoint Managing Directors Don Dixon and Andrew McClure have joined the company's Board of Directors as part of the financing. As part of the financing round, which ... Read the full article
Vantage adds Reichert and Berry as Distribution Leaders
1st August 2023
Insurance and reinsurance company, Vantage Risk, has announced the appointment of Dan Reichert as Vice President, West Distribution Leader and Leanne Berry as Vice President, Central Distribution Leader for its U.S. Insurance operations. Based in California, Reichert joins from AIG, where he held distribution leadership roles in the southwest. Berry will ... Read the full article
AM Best revises outlook on Philippine non-life insurance market segment to negative
1st August 2023
In a recent report, credit rating agency AM Best has revised its outlook on the Philippine non-life insurance market segment from stable to negative. The change in outlook comes as domestic insurers face increased negative pressure on their balance sheet strength and operating performance. The key reason for this shift is ... Read the full article
Sompo Intl. hires Emily Poh as Head of Professional Lines Insurance, Asia Pacific
1st August 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance has appointed Emily Poh as Head of Professional Lines Insurance, Asia Pacific. In the role, she will be based in Singapore, where she will report to Paul O’Neill, President of Commercial Lines, Insurance, Asia Pacific (APAC). Overall, Poh brings ... Read the full article
Marsh names Angela Duca Global Head of Credit Specialties
1st August 2023
Marsh, the world's leading insurance broker and risk advisor and a business of Marsh McLennan, has appointed Angela Duca as Global Head of Credit Specialties, Marsh Specialty. She succeeds Nick Robson, who has been named Global Chairman, Credit Specialties. Marsh confirmed that both appointments are effective immediately and both will report to ... Read the full article
Fathom “revolutionizes” flood risk intelligence with new US Flood Map
1st August 2023
Fathom, a global leader in water risk intelligence, has released its new US Flood Map; a cutting-edge tool that provides "the most comprehensive climate-driven flood risk information for the United States." "As the private US flood insurance market grows, Fathom’s US Flood Map empowers (re)insurers, underwriters and risk professionals with invaluable ... Read the full article
Lockton Re expands partnership with CyberCube
1st August 2023
Innovative cyber risk analytics leader CyberCube has deepened its collaboration with Lockton Re, the reinsurance arm of the world's largest privately held independent insurance broker. Lockton Re's decision to license CyberCube's cutting-edge Industry Exposure Databases signifies a pivotal step in bolstering their cyber risk modeling and analytics solutions. CyberCube's Industry Exposure Databases ... Read the full article
Lloyd’s closes down Austria, Finland, and Poland branch offices
1st August 2023
Lloyd’s Insurance Company S.A. (Lloyd’s Europe) announced that it will close down European branch offices in Austria, Finland, and Poland, effective from July 31, 2023. Instead, the company said it will only provide services to these locations, but just without a formal office in each location. "...it will no longer provide non-life ... Read the full article
BT Pension Scheme completes £5bn longevity swap with RGA
1st August 2023
The BT Pension Scheme (BTPS) has entered into a longevity reinsurance arrangement with Reinsurance Group of America (RGA) which will further protect BTPS from the cost of unexpected increases in the life expectancy of its members. As mentioned, the arrangement covers £5bn of BTPS pensioner liabilities and follows the £16bn ... Read the full article
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