Reinsurance News
QOMPLX launces new Q:HELM marketplace
10th June 2021
QOMPLX has introduced its Q:HELM marketplace, a multi-vendor cloud environment that allows customers to access data, models, and analytic services to create a more dynamic and complete view of their own unique insurance risks. The platform enables users to run numerous scenarios against real or hypothetical portfolios to evaluate potential exposure, ... Read the full article
Aston Lark hires Robert Beere as Director of Incepta
10th June 2021
Aston Lark, the chartered insurance broker backed by Goldman Sachs, has announced the appointment of Robert Beere as Director of its Lloyd’s business, Incepta. Beere joins Aston Lark from JLT/Marsh, where he has spent the past 15 years of his career, most recently as Regional Director for London Market Risks. In total, ... Read the full article
Miller hires Erik Manning as Head of ILS
10th June 2021
Specialist re/insurance broker Miller has appointed Erik Manning as Head of ILS. Manning brings significant industry experience to the role and will concentrate on developing Insurance Linked Securities (ILS) and other insurance risk to-capital solutions to benefit Miller’s clients. He will report to Charlie Simpson, who was appointed Head of Bermuda earlier ... Read the full article
Fitch notes performance decline in Florida despite muted 2020 losses
10th June 2021
Analysts at Fitch Ratings have pointed to continued performance deterioration and a decline in capitalization levels amongst Florida homeowners insurance specialists. This is despite the most severe losses from the record 2020 hurricane season occurring outside of the Florida market, although they noted that losses from winter storms in Q1 2021 ... Read the full article
SCOR hires Lea Müller as Head of Global Lines Cat Pricing
10th June 2021
Global reinsurance firm SCOR has appointed Lea Müller as Head of Global Lines Cat Pricing. Müller brings 10 years experience in re/insurance, natural catastrophe modelling and agricultural products. Previously, she was Head of Consulting at CelsiusPro, where together with her team she consulted clients from the public and private sectors on climate, ... Read the full article
L&G secures £17mn pension buy-in with John Good & Sons
10th June 2021
Legal & General has agreed a roughly £17 million full scheme buy-in transaction with John Good & Sons Limited Pension Scheme covering the benefits for over 80 pension scheme members. The scheme is an existing L&G client, with the trustee having appointed L&G Investment Management (LGIM) as its fund manager in ... Read the full article
Bermuda’s Minister of Finance responds to G7 global corporate tax minimum talks
10th June 2021
Curtis Dickinson, the Minister of Finance for Bermuda, has responded to the announcement of a global minimum corporate tax rate being agreed upon by G7 leaders, highlighting the importance of cross-border trade to the Bermuda economy. An agreement was reached last week which backed the creation of a global minimum corporate ... Read the full article
Charles Taylor forms US environmental services division
10th June 2021
Insurance services provider Charles Taylor has announced that formation of a new division aimed at providing pre-risk and post-loss environmental services. The new business will be known as Charles Taylor Environmental Technical Services (CT Environmental), and will be led by Senior Vice President Kellie Vazquez.. She has 12 years’ experience providing environmental ... Read the full article
Arch Insurance Intl. promotes Kirsten Valder & Jason Kittinger
10th June 2021
Arch Insurance International, which includes Arch's insurance operations in Europe, Bermuda and Australia, has promoted Kirsten Valder to Chief Administrative Officer and Jason Kittinger to Chief Operating Officer (COO), effective June 30th, 2021. The promotions of both Valder and Kittinger form part of the company's long-term succession planning. Dennis Brand, current ... Read the full article
WTW reports uptick in commercial insurance rates through Q1
10th June 2021
US commercial insurance prices increased again during the first quarter of 2021, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by broker Willis Towers Watson (WTW). The survey compared prices charged on policies underwritten during the first quarter of 2021 to those charged for the same coverage and quarter ... Read the full article
AXA in €300mn settlement offer to 15,000 restaurant clients over COVID claims
10th June 2021
AXA France has today announced a settlement offer of €300 million, gross of tax and before reinsurance, to 15,000 restaurant owners who hold non-damage business interruption (BI) policies. The settlement applies to the 15,000 restaurant owners who hold AXA France's "standard policy" with extended cover for BI losses linked to administrative ... Read the full article
Ariel Re adopts Allphins’ risk platform
10th June 2021
Bermudian reinsurer Ariel Re has partnered with Allphins to use its platform to help with exposure and risk management. Ariel Re’s adoption of the Allphins platform will enable the reinsurer to generate more accurate exposure figures faster and produce in-depth analysis over their Marine and Energy book of business. Allphins uses machine ... Read the full article
Grim prospects for US cyber market: AM Best
9th June 2021
A new AM Best report has argued that prospects for the US cyber insurance market are "grim," due to the significantly worsening risk hazard environment and issues such as ransomware, business interruption and aggregation. Analysts noted that cyber insurance, which began as a diversifying secondary line, is now a primary component ... Read the full article
Nicholas Garside named CUO at LSM Bermuda
9th June 2021
Liberty Specialty Markets Bermuda (LSM Bermuda), part of Liberty Mutual Insurance, has appointed Nicholas Garside to the position of Chief Underwriting Officer (CUO). In this newly created role, he will report to LSM Bermuda President Steve Horton. Garside – who previously led LSM Bermuda’s property unit – will provide strategic direction and ... Read the full article
Amwins acquires Maryland-based General Agent, MTDA
9th June 2021
Amwins has announced the acquisition of CBIZ M.T. Donahoe & Associates, LLC, (MTDA), which will join its Group Benefits division, further complementing the services of Amwins Connect Administrators. MTDA is a Maryland-based general agent focused on employee and individual benefits and services. Following the acquisition, of which the terms were not disclosed, ... Read the full article