Reinsurance News
Cybersecurity control failures top exec concerns in Q1, finds poll
19th May 2021
Cybersecurity control failures was listed as the top emerging risk in the first quarter of 2021, according to the latest Gartner, Inc. Emerging Risks Monitor Report. The global poll of 165 senior executives found that 67% of respondents singled out cybersecurity risk as a major concern, with consistency across all geographic ... Read the full article
Mission Underwriting launches new P&C underwriting platform
19th May 2021
Mission Underwriting Managers has launched its technology-powered platform to bring innovation to the property and casualty underwriting and distribution market. The company will act as a licensed insurance general agency with a broad focus across the commercial lines segment. The platform was created due to the insurance market experiencing major disruption, which ... Read the full article
VIG Re reports higher profits and 13% premium growth
19th May 2021
VIG Re, the Prague-based reinsurance arm of Vienna Insurance Group (VIG), has reported improved profitability over the first quarter of 2021, helped by strong premium growth of 13%, compared with the same period last year. Profit for the Q1 2021 period totalled €2.79 million, compared with €2.42 million in Q1 2020. Meanwhile, ... Read the full article
Anderson Benson appointed Coverholder by Lloyd’s
19th May 2021
Nashville-based independent insurance and risk management broker Anderson Benson has been appointed as a Coverholder by Lloyd’s of London for a worldwide Media Liability errors and omissions (E&O) program. The music industry-focused coverage includes copyright, publishing, film and social influencing and will be tailored for each group. Groups includes songwriters, composers, music ... Read the full article
TWIA forgoes extra $1bn of reinsurance, looks to expand cat bond
19th May 2021
The Texas Windstorm Insurance Association (TWIA) has decided not to pursue an additional $1 billion of reinsurance that would have brought its total aggregate coverage for the 2021 season to $5 billion. Its Board will continue to seek the planned $1.9 billion of reinsurance protection at renewal this year, which, ... Read the full article
Huw Evans to leave ABI Director General role for KPMG
19th May 2021
The Association of British Insurers (ABI) has announced that its Director General, Huw Evans, will be leaving the organisation at the end of the year to join KPMG. Effective January 2022, Evans will join KPMG as a Partner within its insurance and long-term savings practice. He has served as Director General of ... Read the full article
Upcoming quarters to show improved underwriting margins: Grandisson, Arch
19th May 2021
Arch Capital Group should expect the next several quarters to continue to show improved underwriting margins, according to Bermuda-based insurer and reinsurer Arch's Marc Grandisson, Chief Executive Officer and Director. At Arch's Q1 2021 earnings call Grandisson noted that it is partially due to the compounding of rate-on-rate increases and the ... Read the full article
Ascot hires Brendan Walsh as EVP, Head of Property for Ethos
19th May 2021
Bermuda-domiciled specialty re/insurer Ascot has appointed Brendan Walsh as Executive Vice President and Head of Property for Ethos Specialty. Walsh will be responsible for the management and development of Ethos Specialty’s Property portfolio, which provides underwriting services to a range of capital partners. Walsh will be based in Chicago and report to ... Read the full article
Hedging the next pandemic: Register for live webcast
19th May 2021
Our insurance-linked securities (ILS) focused sister site, Artemis, has partnered with Vesttoo to explore opportunities to hedge the next global pandemic via the use of parametric risk transfer, enabled by advanced data and technology. Register online here to secure your place at this free live webcast event. Following ... Read the full article
DUAL bolsters North American leadership
19th May 2021
International underwriting agency DUAL has announced three executive appointments in North America to strengthen its leadership team and support growth plans in the region. Brad Dame joined earlier this year as Chief Commercial Officer and will be responsible for driving product strategy, development, distribution, and operational execution. Dame previously held joint roles ... Read the full article
Price Forbes adds Nicolas Bardon as Bermuda EVP
19th May 2021
Price Forbes has announced the appointment of Nicolas Bardon as Executive Vice President, Bermuda. Bardon brings many years' experience as a retro broker and industry loss warranty (ILW) specialist. His appointment is seen as a strengthening of Price Forbes’ presence in Bermuda, while his proven track record is expected to broaden its ... Read the full article
Ed bolsters Asian market leadership team
19th May 2021
Global reinsurance, wholesale and specialty broker Ed has announced the appointment of Elia Rahmita Price as director, developing markets of Ed Asia. Rahmita brings over 15 years of industry experience to the role and joins from Howden Specialty Asia, where she held the role of associate director. Prior to this she was ... Read the full article
Taiwan FTC approves Aon – Willis Towers Watson merger
19th May 2021
Taiwan's Fair Trade Commission has given its approval to Aon's acquisition of and merging with rival Willis Towers Watson (WTW), saying that it does not feel it will restrict competition in the marketplace. Taiwan's Fair Trade Commission (FTC) is the entity responsible for competition policy and regulation and like so many ... Read the full article
Lockton bolsters transaction liability capabilities with new hires
19th May 2021
Global re/insurance broker Lockton has announced key hires across its three transaction liability insurance product lines. Eddie Kim, Paul Ahn, Emily Rosen and Nicole McCarthy all join Lockton's Representations and Warranties (R&W) insurance practice. Dan Berger joins Lockton from AIG, where he served as the lead tax insurance underwriter for North America ... Read the full article
Charles Thompson to lead new Berkley Management Protection unit
19th May 2021
W. R. Berkley Corporation has announced the formation of Berkley Management Protection, a new operating unit that will deliver a modular suite of management liability products to independent agents. Charles E. Thompson has been named as President of the unit, bringing 26 years of management experience to the role, both in ... Read the full article