Reinsurance News
Greenlight Re hires Heejae Cho as Head of Innovation Underwriting
15th June 2021
Specialist property and casualty reinsurer Greenlight Capital Re has appointed Heejae Cho as Head of Innovation Underwriting. Cho brings over 18 years of senior underwriting and actuarial experience to Greenlight Re, previously working at ACE, XL and Arch. She will be responsible for managing the underwriting activities within the growing Greenlight Re ... Read the full article
Insurtech Root places June property cat program with Tremor Panorama
15th June 2021
Root, Inc., the parent company of the Root Insurance family of carriers, has successfully placed its June property catastrophe program with Tremor Technologies' next generation trading platform, Panorama™. Insurtech Root leverages industry-leading, mobile-first technology in order to bring fairness and a best-in-class experience to drivers. The company focuses on driving behaviour rather ... Read the full article
Colombian protests could trigger higher LatAm reinsurance rates: Fitch
15th June 2021
Analysts at Fitch Ratings have warned that Colombian insurers may face an impact to their loss ratios and overall financial performance due to social protests over the last month that have caused damage to property. Fitch expects a moderate deterioration in profitability but does not expect these events to lead to ... Read the full article
DUAL appoints Gordon Steward to MD role
15th June 2021
Howden Group’s underwriting arm DUAL has announced the appointment of Gordon Steward as Managing Director, Forestry. Steward reports to Richard Clapham, CEO, DUAL Group, and will focus primarily on small, medium to medium-large forestry companies in the southern hemisphere markets of South Africa, Australia, Chile, Uruguay, South East Asia and New ... Read the full article
FCA data shows further slowdown in BI test case payouts
15th June 2021
New data from the Financial Conduct Authority (FCA) shows a significant slowdown in the rate at which claims are being paid out for policies related to the COVID-19 business interruption (BI) test case in the UK. In total, reported claims payments now amount to £757 million as at June 14th, which ... Read the full article
Protective appoints Pooja Rahman as Chief Risk Officer
15th June 2021
Protective Life Corporation, a wholly owned subsidiary of Dai-ichi Life Holdings, has announced the appointment of Pooja Rahman as Senior Vice President (SVP) and Chief Risk Officer. With over 20 years of risk management, finance and legal experience in the insurance industry, Rahman most recently served as Head of Financial Risk ... Read the full article
Topsail Re adds Robin Elder to key VP & Director role
15th June 2021
Topsail Re has announced the appointment of Robin Elder to the role of VP and Director of Reinsurance Finance. Elder is also a member of Topsail Re’s Client Services Team and brings over twenty years’ to the role. For the past five years, she was Director of Service and Operations in Business ... Read the full article
Alexander Forbes completes insurance exit with AF Life sale
15th June 2021
African financial services firm Alexander Forbes has concluded its exit from insurance business following the sale of transfer of its risk and retail life business to South African insurer Sanlam Life. The business operations formed part of AF Life, a long-term insurance company and wholly owned subsidiary of Alexander Forbes that ... Read the full article
Lockton Re hires Bisset as Chairman, Global Retro
15th June 2021
Reinsurance broker Lockton Re has added Robert Bisset as Chairman, Global Retrocession & Property Specialty, Bermuda and Market Capital, subject to regulatory approval. Bisset will also become a member of Lockton Re's Global Executive Committee. As we explained previously, Lockton Re was set to appoint former Aon executive Bisset to a senior ... Read the full article
High-reliance on reinsurance putting Irish consumers at risk, claims report
15th June 2021
Over the course of 2019 general insurers in Ireland shifted €2.8 billion in risks associated to liability premiums to international reinsurers, close to three-quarters of all business written by the industry that year. The Irish Times' report also notes how, despite much of the transfers going to overseas companies, this high ... Read the full article
Guy Carpenter adds Gressier as Head of Motor and Associated Casualty, UK&I
15th June 2021
Guy Carpenter, the reinsurance broking arm of Marsh McLennan, has announced the appointment of Paul Gressier as Managing Director and Head of UK & Ireland Motor and Associated Casualty, effective August 9th, 2021. Gressier takes on responsibility for leading the broker's motor and associated casualty activities across the region. In this newly ... Read the full article
Aon’s India broking operations shift under the Aon brand name
15th June 2021
Aon has completed its acquisition of a 49% stake in Indian broker Anviti, which has since been rebranded as Aon India Insurance Brokers Private Limited. The takeover was announced back in 2020 but has only now gained regulatory approval. As a result, Aon said that it will now operate its insurance and ... Read the full article
Aon forecasts shifting re/insurer priorities as pricing moderates
14th June 2021
As part of its Global Market Overview report, broker Aon has forecasts that key longer-term issues are likely to gain relevance in re/insurer appetite and rating models, as the world emerges from the COVID-19 pandemic and as pricing momentum slows. Aon is predicting moderation in rate increases as re/insurers begin to ... Read the full article
Mosiac adds cybersecurity specialist Lopez to US team
14th June 2021
Newly launched insurer Mosiac has appointed cybersecurity specialist Daisy Lopez to its US team of underwriters. Based in New York, Lopez will serve as VP, production specialist, cyber, reporting to Mosaic’s Head of Americas Cyber, Brian Dusek. “We are excited to welcome Daisy to our growing global team of cyber experts,” said ... Read the full article
Ed adds Marsh broker Raza Hassan to downstream energy
14th June 2021
Re/insurance broker Ed has appointed Raza Hassan to its Downstream Energy team in an effort to bring further focus to Power and Renewables. Hassan joins from rival broker Marsh after more than three years’ with the firm. He most recently served as a Client Executive within Marsh’s Energy Practice and, before that, ... Read the full article