Reinsurance News
Talanx reports 24.5% net income climb in Q1
11th May 2021
Hannover Re parent Talanx Group saw net income climb 24.5% to $277 million during the first quarter of 2021. Gross written premiums rose by 9.4% to €13.6 billion, while operating profit amounted to €625 million, up 11.8% compared to the prior-year quarter Talanax attributes these increases to positive one-off effects in both ... Read the full article
SiriusPoint’s Q1 combined ratio strengthens to 96.6%
11th May 2021
SiriusPoint Ltd. has reported net income of $130.9 million and a combined ratio of 96.6% for the first quarter of 2021, as catastrophe losses reached $5.7 million in the period. Net income of almost $131 million compares with a net loss of more than $183 million for the prior year quarter. At ... Read the full article
Tokio Marine HCC promotes Boyadjian to VP, Underwriting
11th May 2021
Property & Casualty insurer Tokio Marine HCC has appointed Kareen Boyadjian as Vice President of Underwriting. Boyadjian will report to Michael Palotay, the group’s Chief Underwriting Officer, and be based in Encino, California. She has overseen the healthcare segment of Cyber and manages the personal lines cyber product called NetGuard Select and ... Read the full article
Mosaic bolsters London underwriting team
11th May 2021
Specialty insurer Mosaic has announced the appointment of Anna Jay and Christopher Webb to its London underwriting team. Jay joins as SVP, Head of Professional Liability with 18 years’ experience. She began her career as a specialist-placing broker before moving into underwriting and spending a decade at QBE International. Jay later joined Pembroke ... Read the full article
Everest appoints Williamson to lead reinsurance as Doucette departs
11th May 2021
Bermuda-based reinsurer Everest Re Group, Ltd. has announced that Jim Williamson will takeover as the Head of the Everest Reinsurance Division, effective immediately. Williamson currently serves as the firm's Executive Vice President and Group Chief Operating Officer (COO), and retains this position alongside his new responsibilities leading the reinsurance unit. He succeeds ... Read the full article
BMS Group releases Private Equity, M&A and Tax Report
11th May 2021
Specialist reinsurance broker BMS Group has launched its inaugural Private Equity, M&A and Tax Report, which provides a holistic viewpoint on the way in which M&A insurance interacts with the wider M&A sphere across the globe. The report also gives the first look at behaviours and trends post the onset of ... Read the full article
IRDAI urges Indian insurers to concentrate on risk prevention
11th May 2021
Insurance Regulatory and Development Authority of India’s (IRDAI) Chairman, Dr. Subhash Khuntia, has advised Indian insurers to concentrate on risk prevention and continuous engagement with policyholders. Focusing on these aspects will enable policyholders to benefit not only through claim settlement, but also from prevention of loss. Khuntia believes that this will generate ... Read the full article
Near-term outlook on aviation industry “bleak”, says McGill and Partners
10th May 2021
Insurance broker McGill and Partners has described the aviation industry's near-term outlook as bleak, noting the differing vaccination efforts by world's governments and geographically varied return of passenger demand In 2020 the industry reported losses of $118 billion, with demand down 65.9% against 2019. Furthermore, McGill and Partners reports that nearly 17,000 ... Read the full article
MS Amlin Underwriting adds Heike Trilovszky to board
10th May 2021
Lloyd's of London insurer and reinsurer, MS Amlin Underwriting Limited has appointed Heike Trilovszky to its board as a notified independent Non-Executive Director. Trilovszky will also join as Chair of the Underwriting Oversight Committee, assuming the role from Martin Hudson, who will become permanent Chair of the board. After working at Munich ... Read the full article
White Mountains reports Q1 loss despite “good start” for Ark
10th May 2021
Bermuda domiciled financial services holding company White Mountains Insurance Group has reported a net loss of $110.5 million for the first quarter of 2021 despite its recently acquired Ark business seeing a "good start" to the year. The result represented an improvement on the $139.6 million loss in Q1 2020, although ... Read the full article
Pelican Ventures launches Tango Specialty
10th May 2021
Private equity investor Pelican Ventures has launched Tango Specialty, a commercial lines managing general agency (MGA), appointing Greg Wolyniec as President and CEO. Tango Specialty will establish several sizeable programs with leading underwriting expertise supported with insurance capacity partnerships that will serve the complex needs of select specialty market clients and ... Read the full article
AXIS Re names Haugh as President of new Global Property division
10th May 2021
AXIS Re, the reinsurance arm of Bermuda-based AXIS Capital Holdings Limited, has announced a simplified overall structure, which includes the establishment of a new Property Reinsurance division, led by Ann Haugh. Previously AXIS Re's President of Global Markets, Haugh has been appointed President of the reinsurer's new Global Property unit. In her ... Read the full article
Florida remains challenging despite declining AOB lawsuits, FedNat CEO Braun
10th May 2021
FedNat’s Chief Executive Officer Mike Braun has underlined the continuing challenges posed by Florida’s homeowners market, despite a sharp decline in Assignment of Benefits-related lawsuits. Speaking on a first quarter earnings call, Braun said overall litigation against property insurance companies in the state continues at levels that are far above the ... Read the full article
Majority of industry participants feel safe returning to offices
10th May 2021
After consulting our substantial network of industry contacts, Reinsurance News found that a majority of respondents currently feel safe returning to an office-based working environment, 14 months on from COVID-19’s elevation to pandemic status by the World Health Organisation. COVID-19’s impact as a highly contagious respiratory disease, compounded early on by ... Read the full article
Pool Re warns of post-lockdown terror risks
10th May 2021
British terrorism reinsurer, Pool Re has launched a new series of Sector Risk Reports which focuses on public transport and facilities. The initial report explains that the sector remains an attractive target for terrorists due to the high concentration of potential victims and the low complexity of planning required to cause ... Read the full article