Reinsurance News
McGill and Partners to move into new London office
3rd October 2023
Global specialty re/insurance broker, McGill and Partners is to move to a brand-new office space in the heart of the City of London’s insurance district. The broker has a heads of agreement with M&G to move into 40 Leadenhall London. A building that, when completed, will become an icon at the ... Read the full article
Nicole Lim named Chief Executive & Principal Officer of Liberty Specialty Markets, Singapore
3rd October 2023
Liberty Specialty Markets (LSM) is pleased to announce the appointment of Nicole Lim as Chief Executive & Principal Officer, Singapore, effective January 2, 2024, subject to regulatory approval. Lim initially joined Liberty in 2003 and has since held various key positions within the industry. Her journey includes pivotal roles at Allianz Global ... Read the full article
Bank of England to develop new lending tool for insurers
3rd October 2023
The Bank of England (BoE) is planning to develop a new lending tool for insurers, and other non-bank financial institutions like pension funds, to provide access to emergency cash during times of market stress. This new tool is to be created to help avoid a repeat of last year's bond market ... Read the full article
Canada Life completes its third deferred member buy-in
3rd October 2023
The Andrews Sykes Group Pension Scheme has insured the benefits of its defined benefit pension scheme with Canada Life in a transaction of £30 million, following a competitive tender process run by leading pensions and financial services consultancy, Hymans Robertson. This now marks the third deferred member transaction Canada Life has ... Read the full article
Palisade adds two industry veterans to support growing specialty risk insurance platform
3rd October 2023
Independent Specialty managing general underwriter (MGU) Palisade Insurance Partners, LLC, has announced the appointment of Scott Stevenson as Head of US Risk and Mark de la Haye as Head of UK and Europe Risk. Palisade specialises in underwriting insurance for litigation and other contingent legal risks, and transaction insurance. Bringing to his ... Read the full article
The industry needs to share the knowledge it gains to help towards global resilience: BMS Re’s Chandler
3rd October 2023
During a recent interview with Reinsurance News, BMS Re's President & Chief Executive Officer, US, Pete Chandler discussed what areas of growth he hopes to see within the company over the next few years. He explained that BMS Re is very excited about what is currently taking place within the organization ... Read the full article
Topsail Re names Trina Gooch Director of Client Services
3rd October 2023
Topsail Re has announced the appointment of Trina Gooch as Director of Client Services. Topsail Re describes Gooch as a seasoned reinsurance professional who holds over three decades of primary and reinsurance underwriting, management, and regulatory experience in Property and Casualty lines of business. Prior to joining Topsail Re, Gooch was the ... Read the full article
Moody’s upgrades Coface’s credit rating to A1 IFSR with stable outlook
3rd October 2023
Leading credit rating agency Moody's has upgraded the Insurance Financial Strength Rating (IFSR) of Coface, a prominent player in the credit insurance industry, from A2 to A1. Additionally, Moody's has revised the outlook for Coface to 'stable' from 'positive.' These changes signify a vote of confidence in Coface's financial stability and ... Read the full article
Blue Marble partners with Nestlé to provide weather insurance to coffee farmers in Indonesia
3rd October 2023
Climate insurer Blue Marble and Nestlé have launched a pilot weather insurance programme in Indonesia designed to provide over 800 smallholder coffee farmers with financial protection against unpredictable weather rainfall and drought. The weather insurance leverages satellite-based climate data to determine when coffee output has been adversely impacted by too much ... Read the full article
Lockton appoints WTW’s Rowley as Head of North American Property
3rd October 2023
Independent insurance broker, Lockton, has announced the appointment of Tom Rowley as the Europe division’s new Head of North American Property. Based in London, he will take up his role with immediate effect. He will be responsible for driving forward the North American Property team based in the city, focusing on ... Read the full article
Italy hailstorms largest international industry loss in Q3: CRESTA
3rd October 2023
According to CRESTA's update of its CLIX Loss List, in terms of industry loss amount, Q3 was dominated by the severe convective storms in Northern Italy, which brought damaging hail and winds to the regions of Lombardy, Veneto, Friuli-Venezia-Giulia, Piemonte and Emilia-Romagna, with an initial industry loss estimate of $2.2bn. CLIX, ... Read the full article
Root to accelerate UK and Europe expansion plans after Invenfin investment
3rd October 2023
Root, an end-to-end digital insurance platform has announced expansion plans as South Africa-based Invenfin, the venture and growth capital arm of Remgro Limited, has made a further investment of $1.5m in the company. Root, which was founded in 2016 in South Africa, offers a low-code platform that powers modern digital insurance ... Read the full article
UK bulk annuity market to experience a record-breaking 2023: Aon
3rd October 2023
2023 is expected to be a record-breaking year for the UK bulk annuity market, surpassing the previous peak of £43bn, as it has already seen £21.1bn of business in HY1 which reflects a record first half year, said Aon in a recent report. According to Aon’s data, the latest figure is ... Read the full article
Sompo International names Faugas Country Manager, Insurance for France
3rd October 2023
Sompo International, a global provider of commercial and consumer property and casualty re/insurance, has announced the appointment of Marilyn Faugas as Country Manager, Insurance for France. Her appointment comes as the company is in the process of establishing insurance operations in France, subject to required regulatory notifications. Based in Paris, Faugas will ... Read the full article
QBE North America appoints Ryan Powers as SVP & Head of Construction
3rd October 2023
QBE North America, part of the global insurer, has announced the appointment of Ryan Powers as Senior Vice President (SVP) and Head of Construction, reporting to Mike Foley, President of Commercial Insurance. In the newly created role, Powers takes on responsible for planning, directing, and executing the vision for casualty lines ... Read the full article
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