Reinsurance News
Xceedance expands Claims Services Division under new leader
18th August 2021
Re/insurance service provider Xceedance has announced the expansion of its Claims Services Division under the leadership of its new head of claims, Marc Rothchild. Prior to joining Xceedance, Rothchild led claims operations for Blackboard Insurance and the Consumer and Commercial Claims Unit at AIG. He has diverse experience in the property and ... Read the full article
AXA XL makes senior underwriting hires
18th August 2021
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of several senior environmental underwriters, along with the promotion of Jeffrey Anastasio to lead its Environmental Claims team in North America. The new underwriters include Lindsay Judd, Jay Kao, Angela Case and Igor Pavlo. Previously an ... Read the full article
AM Best notes US captive flexibility, control as commercial peers outperformed
18th August 2021
A new AM Best report indicates the operating performance of rated US captive insurers continued to surpass that of their commercial market peers in 2020, alongside emerging areas of growth, due to COVID-19-fueled market conditions. Analysts explain how captives’ inherent flexibility and control in managing risk drives profitability and retain earnings ... Read the full article
Arch Capital makes two additions to board of directors
18th August 2021
Arch Capital Group has appointed Francis Ebong and Eileen Mallesch to join the company’s board of directors. Ebong has an extensive background in technology and innovation and is currently Managing Director of Program Management at X, Alphabet’s in-house research and development division, where he is tasked with launching technologies to improve ... Read the full article
Munich Re Africa promotes Skei to COO
18th August 2021
Global reinsurer Munich Re has appointed Yolanda Skei as the new Chief Operating Officer (COO), Africa. Skei has been with Munich Re for the past 18 years, starting her Munich Re career as head of life claims. She then moved on to work as Internal Consultant, Life Claims back in 2013, where ... Read the full article
Allianz Structured Alpha loss likely between €3.5-6.8bn: Berenberg
18th August 2021
Analysts at Berenberg have estimated that the ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of Allianz Global Investors could entail a base-case loss of around €3.5 billion, with the potential for a worst-case loss of €6.8 billion. Allianz has already acknowledged that the investigation ... Read the full article
WTW promotes Kirsten Beasley to lead Bermuda office
18th August 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has appointed Kirsten Beasley to lead its Bermuda office. Beasley has been WTW’s head of healthcare broking, North America, since 2018 and will now lead a team of 26 in Bermuda. She will focus on Bermuda placements in casualty, property, financial lines, and ... Read the full article
BMS Re adds Scott Christian as EVP for Cat Analytics
18th August 2021
Independent reinsurance broker BMS Re has announced the appointment of Scott Christian as Executive Vice President, Catastrophe Analytics. Based in Atlanta, Georgia, Christian will report to Kirk Conrad, Global Head of Analytics at BMS. Christian brings over 19 years of catastrophe and risk management experience, having most recently served as Senior Vice ... Read the full article
Reinsurance to limit W&W’s up to €400m gross loss from July flooding
18th August 2021
Germany-based financial services company, the Wüstenrot & Württembergische Group (W&W), has said that it expects storm events and subsequent flooding in mid-July to drive gross expenses of up to €400 million. The company's loss estimate for the impacts of storm Bernd in Europe, which arrived in Central Europe in July, is ... Read the full article
Casualty market proves value as diversifier for reinsurers: Aon
18th August 2021
Re/insurance broker Aon has released a new report for the first half of 2021, giving insight into the Property & Casualty insurance market. The broker's report underlined how the casualty market is proving its value as a good diversifier for reinsurers' challenged property experience in recent years, along with robust primary ... Read the full article
QOMPLX and Tailwind abandon merger plans
18th August 2021
Risk analytics provider QOMPLX has agreed to terminate its business combination agreement with Tailwind Acquisition Corp., a special purpose acquisition company, due to challenging market conditions. The deal would have seen QOMPLX go public via a merger with Tailwind, and reflected a post-transaction equity value for QOMPLX of roughly $1.4 billion ... Read the full article
LIIBA adds McGill’s Hennessy to board
18th August 2021
Karl Hennessy, Head of Specialty Broking for Lloyd’s broker McGill and Partners, has been appointed to the board of the London and International Insurance Brokers’ Association (LIIBA). LIIBA notes that Hennessy has over 30 years’ experience in the London insurance market. He began his career with Fenchurch International, before moving to Lloyd ... Read the full article
Acrisure enters partnership with Quotal
18th August 2021
Insurtech ecosystem specialist Quotall has entered into a strategic partnership with global insurance distribution business Acrisure. The partnership will see Acrisure provide insurance product sourcing and insurer partnership services to meet the portfolio needs of Quotall clients. The joint strategy will offer a consolidated solution for big brands across industry sectors that ... Read the full article
ASR hires Krishna Bheenick as Managing Director, Mauritius
18th August 2021
Africa Specialty Risks (ASR), the pan-African focused reinsurance group, has appointed Krishna Bheenick as Managing Director in Mauritius. Bheenick brings a wealth of experience in the Insurance and wider Financial Services sector in Mauritius and internationally, having held senior positions at SWAN General, Mauritius Commercial Bank, XL Catlin Insurance (UK), Munich ... Read the full article
AJG able to balance & reinvigorate Willis Re’s employee & client bases: KBW
17th August 2021
According to reports from Keefe, Bruyette & Woods (KBW), Arthur J Gallagher (AJG) will be able to stabilise and reinvigorate Willis Re’s employee and client bases, whilst expanding its reinsurance product capabilities and global footprint. It was announced ... Read the full article