Reinsurance News
We have to continue to look for new solutions within cyber, Allianz AGCS’s Sayce
28th June 2023
A joint report from Federation of European Risk Management Associations (FERMA) and its industry partners, which examines how Europe can be the driving force towards cyber resilience, was recently published earlier this month. The report was produced in partnership with leading industry players including Allianz Global Corporate & Specialty, AXA ... Read the full article
Asian Re re-elects Chairman, elects Vice Chair
28th June 2023
Asian Re, the intergovernmental organization established in May 1979 under the auspices of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) has re-elected Dr Gholamreza Soleymani unanimously as the Chairman of Bangkok-based Asian Reinsurance Corporation (Asian Re). This is Dr Soleymani's full term as Chairman for ... Read the full article
GeoX partners with Insurity to enhance P&C insurers risk assessments
28th June 2023
Insurity, a provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs, has partnered with GeoX to provide P&C insurance organisations with geospatial property data and first floor elevation data to more accurately classify and assess risk. Insurity suggests that its customers can now leverage GeoX’s proprietary artificial intelligence ... Read the full article
Kwaku Baah-Nuakoh named SeyRe Global CEO
28th June 2023
Kwaku Baah-Nuakoh has become the new Chief Executive Officer of Seychelles Reinsurance Global Ltd (SeyRe Global), a Barbados-based re/insurer. The reinsurer's aim is to achieve a consistent growth target over its first five years and to leverage on the brand and rating of Ocean Re, its fronting partner, to position itself ... Read the full article
AAIS names Werner Kruck as President and CEO
28th June 2023
American Association of Insurance Services (AAIS) has announced the selection of Werner E. Kruck as its new President and Chief Executive Officer, effective June 26, 2023. With an extensive background in the insurance industry, Kruck brings over 45 years of experience to his new role. He has held various leadership positions in ... Read the full article
Afreximbank launches intra-Africa trade supporting insurance subsidiary
28th June 2023
The African Export-Import Bank today in Accra launched its wholly-owned insurance management services subsidiary, AFREXInsure, which took place on the sidelines of Afreximbank’s 30th Anniversary Annual Meetings. The launch comes with a commitment to provide a single-entry point for all specialty insurance needs to assist in optimally managing related risks for ... Read the full article
A below average storm season to benefit re/insurers & underwriters: Amwins’ Purviance
27th June 2023
2023 is predicted to be a below average storm season in the US, which along with price increases achieved over the past several years, should benefit re/insurers and underwriters; this amid a “fatigued” market caused by a challenging last 5 years from a catastrophe loss perspective, Amwins CEO Scott Purviance ... Read the full article
Aon strengthens Global Reinsurance Clients segment with several promotions
27th June 2023
Global professional services firm Aon has announced a series of internal promotions to augment the capabilities for the Global Reinsurance Clients (GRC) segment within its Reinsurance Solutions. The GRC team works with the firm’s largest insurer clients to navigate volatility, optimise capital and drive performance by harnessing the insights and expertise ... Read the full article
Non-life insurers in advanced markets face reserve adequacy concerns amidst recent shocks: Swiss Re
27th June 2023
Direct non-life insurers in advanced markets have experienced a deceleration in the release of prior-year loss reserves, prompting concerns about adequacy due to recent shocks, leading to an uptick in the share of incurred-but-not-reported (IBNR) claims, according to a Swiss Re Institute report. The global insurance industry had made favourable progress ... Read the full article
AmericanAg appoints Russ Dunne as its Director of Reinsurance Strategy and Placement
27th June 2023
Russ Dunne has been appointed as the Director of Reinsurance Strategy and Placement at AmericanAg. He will be based in St Paul, Minnesota. Dunne is a market veteran with over 20 years of experience. Prior to this, Dunne spent over 11 years at Howden Tiger in various positions. He served as a ... Read the full article
Ascendant engages American Elm for preferred share offering
27th June 2023
American Elm Distribution Partners, LLC has been engaged by Ascendant Capital to distribute a new round of Preferred Shares designed to further expand Ascendant’s reinsurance business and its unique investment diversification strategy amongst investors. Ascendant operates an annuity reinsurance business that is domiciled in the Cayman Islands and serves primary insurers ... Read the full article
Victor Insurance Exchange to bring additional US property catastrophe capacity to ICAT clients
27th June 2023
Victor Insurance Managers LLC, the global managing general underwriter, has announced the launch of Victor Insurance Exchange (Victor Exchange), a reciprocal insurance exchange, to deliver additional US property catastrophe capacity to existing and new policyholders of Victor's subsidiary, International Catastrophe Insurance Managers LLC (ICAT). The reciprocal insurance exchange is owned by ... Read the full article
Brookfield Reinsurance delivers proposal to acquire AEL for $4.3bn
27th June 2023
Brookfield Reinsurance has announced that following close of markets on June 26, 2023, the company has submitted a letter to the board of directors of American Equity Investment Life Holding Company (AEL) setting forth a proposal to acquire all of the outstanding shares of common stock of AEL not already ... Read the full article
Hiscox appoints Chris Loake as Group Chief Information Officer
27th June 2023
Specialist global insurer Hiscox has appointed Chris Loake as the Group’s Chief Information Officer. In the new role, Hiscox suggests that Loake will drive the Group’s global technology strategy enabling its overall business ambition to "drive technical excellence and deliver superb service to customers." He will be based in London and report ... Read the full article
HSB extends Cyberwrite partnership for AI-driven cyber insurance platform
27th June 2023
Specialty insurer HSB, part of Munich Re, has renewed its agreement with Cyberwrite for the use of its AI-driven cyber insurance platform, 4SEEN, as part of its ongoing strategy to better leverage data and technology in its cyber insurance underwriting and portfolio management. HSB has been using Cyberwrite since 2018 to ... Read the full article
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