Reinsurance News
Lloyd’s Europe looks to complete leadership with new Board additions
14th July 2021
Lloyd’s Insurance Company (LIC), the European subsidiary of the Lloyd's insurance and re/insurance marketplace, has announced the additions of Bruno van Lierde, Nicole Verheyen, Amélie Breitburd, and Angela Crawford-Ingle to its Board of Directors. A search process is also underway for the recruitment of an additional independent, non-executive director which would ... Read the full article
Ryan Specialty announces launch of initial public offering
14th July 2021
Ryan Specialty Group has launched its initial public offering of 56,918,278 shares at an expected price of between $22 and $25 per share. Ryan Specialty intends to grant underwriters the right to purchase up to an additional 8,537,742 shares of its Class A common stock. Ryan Specialty has applied to list its ... Read the full article
Swiss Re & Milliman partner to deliver simplified flood offering
14th July 2021
Global reinsurance giant Swiss Re has partnered with Milliman, Inc. to deliver a new simplified flood solution via the latter's open advisory and rating organization, Milliman Appleseed. Developed by Swiss Re, the new flood offering has been designed to provide flexible coverage for low and moderate flood risks. According to the pair, ... Read the full article
BHSI enters Mittelstand property market in Germany
14th July 2021
Berkshire Hathaway Specialty Insurance (BHSI) has started underwriting property cover for Mittelstand enterprises across Germany. As a result, Natali Bagaric has been named Head of Property, Mittelstand. Bagaric comes to BHSI with 18 years of industry experience. She was most recently Practice Leader Real Estate & Hotels, at Chubb European Group SE ... Read the full article
TransRe names Craig Hupper as ESG leader
14th July 2021
Alleghany Corporation's TransRe has announced the promotion of Craig Hupper to lead its various Environmental, Social and Governance (ESG) initiatives. In this capacity, Hupper takes on responsibility for advancing the reinsurer's overall ESG framework, as well as implementing the policies, procedures and metrics needed to execute various programs. Additionally, Hupper will coordinate ... Read the full article
Aon sees signs of stabilisation for Canada’s insurance market
14th July 2021
Despite the uncertain post-pandemic landscape that awaits Canada’s insurance market, Aon has underlined what it considers to be signs of market stabilisation and says insurers are beginning to position themselves for growth and profitability. Aon’s report describes many of 2020’s challenges as having spilled over into 2021; notably, poor underwriting performance ... Read the full article
Lloyd’s adds L&G exec Eleanor Bucks to build out investment platform
13th July 2021
Lloyd’s is set to welcome Eleanor Bucks to the newly created role of Chief Investment Officer, established in order to build and lead the marketplace’s new investment platform for the market. Effective September 2021, Bucks will be ensuring Lloyd’s new platform creates greater scale and provides access to a broader range ... Read the full article
AXIS adds Everest Re’s Caponigro to lead overhauled ILS unit
13th July 2021
AXIS Capital has appointed Chris Caponigro to lead its newly-rebranded Insurance Linked Securities (ILS) unit as Global Head. Caponigro will oversee the company’s third party capital related activities currently under management across its reinsurance and Insurance segments. He will report to AXIS Re Chief Executive Steve Arora and will be based out ... Read the full article
AXA XL hires David Watson from AXIS as a Senior Underwriter
13th July 2021
AXA XL, the property & casualty and specialty risk division of AXA, has named David Watson as Senior Underwriter, Political Risk, Credit & Bond (PRCB), UK & Lloyd's market. In his new role with AXA XL, Watson takes on responsibility for helping to deliver the strategic and profitable growth of the ... Read the full article
Phoenix Group agrees €230mn sale of Ark Life
13th July 2021
Phoenix Group Holdings plc has reached an agreement to offload Ark Life Assurance Company DAC to Irish Life Group Limited for €230 million (£197mn) in cash, subject to customary regulatory and antitrust approvals. Ark Life is a closed book of business which manages heritage savings and protection products in Ireland. Read the full article
HDI Global enters private medical insurance with underwriting appointment
13th July 2021
HDI Global Specialty SE has entered the Private Medical Insurance (PMI) market with the appointment of underwriter Ben Haden. It’s hoped the move will help extend HDI Global Specialty’s Accident & Health presence, and includes international PMI. Haden brings over 20 years’ A&H experience, including various underwriting roles at AXA, Collinson Group ... Read the full article
TransRe shifts Professional Liability, Casualty teams
13th July 2021
TransRe has changed its casualty/liability team structure in an effort to take advantage of market opportunities and deliver improved service. Keith Trigg is promoted to Global Casualty leader having first joined the firm in 2001. This newly-created portfolio management role will see him report to Liz Geary, President of Global Portfolio Management. Trigg ... Read the full article
KKR’s Global Atlantic seals $4.8bn whole life reinsurance deal with AXA
13th July 2021
Global Atlantic Financial Group, the majority-owned subsidiary of investment giant KKR, has announced the completion of a $4.8 billion whole life reinsurance deal with China-focused units of AXA Group. It's the first block reinsurance transaction sourced from outside of the United States by Global Atlantic, as the company continues to expand ... Read the full article
TransRe adjusts underwriting structure with key promotions
13th July 2021
TransRe, the New York headquartered reinsurer wholly owned by Alleghany Corporation, has altered its underwriting structure and made a number of key promotions. The changes come as the firm looks to sharpen its portfolio analysis and consistency, while maintaining client and broker relationships. Firstly, Paul McKeon has been promoted to President, Regional ... Read the full article
Flood Re calls for industry-wide action to ensure a more resilient UK by 2039
13th July 2021
UK government-backed reinsurance scheme Flood Re has underlined the extent of action needed to ensure flood resilience reaches an acceptable standard by 2039, when the scheme is due to exit the market. Alongside further, industry-wide action, Flood Re has highlighted its own efforts towards creating a solid base on which to ... Read the full article