Reinsurance News
Aviation lessors contest insurance dispute hearings in Russia: Reuters
10th July 2023
A host of over 40 aviation leasing firms who are struggling with insurers over who should bear up to $10 billion in costs for 400 jets stuck in Russia are urging the High Court to allow a reinsurance dispute to be heard in London, not Moscow, according to a recent ... Read the full article
Maria Morzello promoted to CRO Bermuda & NA, AXA XL Re
10th July 2023
Maria Morzello has been promoted to the role of Chief Risk Officer (CRO), Bermuda & North America at AXA XL Reinsurance. Based in Stamford, Connecticut, she takes on this new role after spending over two years serving as a Senior Risk Manager. An experienced veteran across the industry, Morzello brings over two ... Read the full article
Emerging Asia poised to lead global economic growth: Swiss Re
10th July 2023
Emerging Asia is set to become the primary driver of global economic growth in the coming years, according to the latest sigma report by Swiss Re Institute. With China's economy reopening and experiencing a recovery in demand, Swiss Re forecasts emerging Asia to achieve a growth rate of 5.4% in 2023 ... Read the full article
Inver Re forms Bermuda-based re/insurer & segregated accounts company
10th July 2023
Inver Re has announced the set up of a Bermuda-based Class 3 re/insurer and segregated accounts company, Inver Re (Bermuda) SAC Ltd. According to the firm, Inver Re (Bermuda) SAC Ltd. (Inver SAC) was registered in Bermuda by the regulator the Bermuda Monetary Authority (BMA) on May 24th 2023. Inver Re told ... Read the full article
Actuarial and compliance consultancy firm OAC joins the MGAA
10th July 2023
OAC, an actuarial and compliance consultancy services firm, has joined the Managing General Agents’ Association (MGAA). The firm is part of the Broadstone Group following its acquisition in April 2023. It offers a range of services to MGAs ranging from actuarial services such as pricing, portfolio analysis, modelling and optimisation to ... Read the full article
Tokio Marine Kiln expands cyber team with series of appointments
10th July 2023
Tokio Marine Kiln (TMK) has announced a series of appointments to further bolster its presence within the cyber market. Firstly, the company has confirmed that Aoife Woulfe, former Head of intellectual property (IP) at TMK, has been appointed to the position of Head of delegated cyber. In her previous role as ... Read the full article
UK consumers demand improved customer experience in insurance, highlight AI as key priority: Study
10th July 2023
A study by Future Processing and Censuswide found that about one-third of UK consumers feel insurance companies are not improving customer experience, with Artificial Intelligence (AI) being a key priority for enhancement. The findings of the research indicate that insurance companies can benefit from integrating AI technology into their operations to ... Read the full article
Growth, inflation and interest rate trajectories are diverging: Swiss Re
10th July 2023
COVID-19 and the war in Ukraine highly impacted the global economic and policy cycles, but now that the base effect of these shocks is fading idiosyncratic domestic factors will regain the main drivers of diverging cycles in the second half of this year, according to the Swiss Re Institute. As growth, ... Read the full article
Athora appoints Michael Koller as Chief Risk Officer
10th July 2023
Athora, a European savings and retirement services group, has appointed Michael Koller as Group Chief Risk Officer, succeeding Lukas Ziewer, who stepped down from the role in May. Koller has more than three decades of industry experience and was most recently CRO at MS Amlin. Before this, he was Group Risk Director ... Read the full article
Oakbridge Insurance expands presence in North Carolina through partnership with JHARM
10th July 2023
Oakbridge Insurance Agency LLC, one of the largest independent insurance and risk management agencies in the US, has entered into a new partnership with JHA Risk Management (JHARM), a personal and commercial P&C insurance agency, based in Rocky Mount, North Carolina. By specialising in risk management solutions, surety bonds, employee benefits ... Read the full article
Charles Taylor InsureTech & ReSpark announce partnership to strengthen policy administration
10th July 2023
Charles Taylor InsureTech (CTI), the global provider of technology solutions for the insurance market, has announced its partnership with ReSpark, a company specialized in automated management of quotes, rates, and diverse regulatory requirements including taxes, to facilitate business operations worldwide. This partnership will integrate ReSpark's portfolio of Policy Administration Solutions into ... Read the full article
Falvey appoints Juanita Shaikh as VP of Marine Cargo
10th July 2023
Falvey Insurance has announced the appointment of Juanita Shaikh to its underwriting team as Vice President, Marine Cargo. Shaikh will be located in Houston, TX and will conduct business there from a remote office. Shaikh is a market veteran with experience spanning over 22 years in the marine insurance industry. Prior to ... Read the full article
CoreLogic integrates with Databricks Marketplace to expand accessibility
7th July 2023
The global property information, analytics, and data-enabled solutions company, CoreLogic, has announced its integration with Databricks Marketplace. This move expands the accessibility of CoreLogic's comprehensive datasets and analytics tools. The collaboration amplifies CoreLogic’s commitment to meeting clients’ needs and allows a wider range of real estate, insurance and mortgage professionals to ... Read the full article
AM Best upgrades ratings of Odyssey Group Holdings’ subsidiaries
7th July 2023
AM Best has upgraded the credit ratings of the subsidiaries of Odyssey Group Holdings, Inc., and assigned a stable outlook. The firm’s members now have a Financial Strength Rating (FSR) of A+ (Superior) which was previously A (Excellent), and its Long-Term Issuer Credit Ratings (Long-Term ICRs) is now “aa-” (Superior), which ... Read the full article
Barnett Waddingham advises Chubb Trustees to insure £1bn of liabilities with Standard Life
7th July 2023
Barnett Waddingham (BW), a leading independent UK professional services consultancy across risk, pensions, investment and insurance, advised Chubb Trustees to insure £1 billion of liabilities with Standard Life. According to the announcement, the buy-ins were agreed with Standard Life (part of Phoenix Group) in June 2023, with benefits being insured for ... Read the full article
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