Reinsurance News
Resolution Life sees commitments hit $5bn following latest capital raise
14th May 2021
Resolution Life has raised an additional $1.6 billion of capital which will be used to support its growth strategy via the acquisition and reinsurance of life insurance portfolios. This latest capital raise means that since its launch in September of 2018, Resolution Life has now secured commitments of roughly $5 billion. Investors ... Read the full article
AM RE’s Ernie Zayicek sees opportunities in post-covid US program market
14th May 2021
With a crop of strong Managing General Agents having weathered a program market further dislocated by COVID-19, AM RE Syndicate’s Ernie Zayicek sees an opportunity to help both high performing MGAs and reinsurance partners in facilitating their ambitions for growth in the US. Zayicek, who serves as Chief Operating Officer and ... Read the full article
Premium renewal rates up across almost all major lines: IVANS
14th May 2021
Looking at premium renewal rates over the month of April, the latest data from the IVANS Index shows that nearly all lines of business experienced an increase in pricing. This was with the exception of Workers’ Compensation lines, which continued to see negative premium renewal rates last month. IVANS, a division of ... Read the full article
SRG acquires Blackrock Insurance Solutions
14th May 2021
Specialist Risk Group (SRG) has acquired specialist Irish Liability and Property MGA, Blackrock Insurance Solutions. The acquisition highlights SRG's commitment to the Irish broker market, as it invests in specialist underwriting capability and technical expertise, to support existing wholesale broker TUE and motor specialist MGA, LIME. SRG has been building its MGA ... Read the full article
ISC partners with Markel on gig economy general liability policy
14th May 2021
Multi-line program administrator Integrated Specialty Coverages has launched a new General Liability policy program geared towards gig economy contractors. The program has been designed to provide contractors “by the job” flexibility, offering a number of customisable options. Made available via ISC’s AI-enabled platform and underwritten by Markel Specialty, the program will be ... Read the full article
Pouch closes seed funding round from ILS Capital
14th May 2021
Commercial auto insurer Pouch has closed a round of seed funding from ILS Capital, giving it access to a portfolio company ecosystem and expertise that has accelerated its launch. ILS Capital’s funding has given a new line of business to its portfolio while ILS provides resources that allow Pouch to focus ... Read the full article
Cytora adds ex-Aspen UK CEO Karen Green to board
14th May 2021
UK insurtech Cytora has announced the appointment of Karen Green to its advisory board, where she’ll help drive growth across the company. Green was previously Chief Executive Officer of Aspen UK and served on the Aspen Group Executive Committee for 12 years. She is currently a Non-Executive Director at Phoenix Group Holdings, Admiral Insurance ... Read the full article
AM Best gives ‘A’ rating to Leadenhall backed Nectaris Re
14th May 2021
Ratings agency A.M. Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Nectaris Re Ltd, which is backed by London-based specialist ILS and reinsurance related investments manager, Leadenhall Capital Partners LLP. Domiciled in Bermuda, Nectaris Re is the main operating ... Read the full article
Fitch forecasts further margin improvement for European reinsurers
14th May 2021
Analysts at Fitch Ratings are forecast further improvements in underlying technical margins and pricing in non-life reinsurance for the largest European companies, following favourable trends in Q1. All four major European reinsurers reported improved margins in non-life during Q1, Fitch notes, as they increased prices and negotiated better terms and conditions. Reported ... Read the full article
UPC to curb new business, reduce reinsurance coverage
14th May 2021
Dan Peed, Chairman and Chief Executive Officer (CEO) of property and casualty holding company UPC Insurance has explained that the company has “curbed new business dramatically” as part of its exposure management plan, and is planning to reduce its reinsurance program. Last week, UPC reported a first quarter pre-tax loss ... Read the full article
Lloyd’s advocates human capital insurance solutions in wake of pandemic
14th May 2021
A new report by insurance and reinsurance marketplace Lloyd’s of London has explored the potential benefits of human capital insurance solutions for workforce management in the wake of the pandemic and future systemic risks. The report, published in collaboration with KPMG, looks at how human capital, or the collective abilities and ... Read the full article
Guernsey creates ESG framework for its insurers
14th May 2021
Guernsey’s International Insurance Association has announced the creation of an Environment, Social and Governance (ESG) framework for member insurers operating on the island. The framework has been designed to help organisations manage ESG opportunities and risks and to deliver a more positive ESG impact. “ESG-related criteria has moved from a peripheral concern ... Read the full article
Monument Assurance to acquire AME Life Luxembourg
14th May 2021
Monument Assurance Luxembourg, a member of the Monument Re Group, is set to acquire AME Life Luxembourg (AMELL) from French Mutual Insurance Group Covéa, subject to regulatory approvals. AMELL is a Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. The transaction's financial terms were not disclosed and will have ... Read the full article
Technology drives the parametric risk transfer market: Artemis Live
13th May 2021
Undoubtedly, technology continues to be the driver of growth in the parametric risk transfer sector, said David Whitehead, Co-CEO of Speedwell Weather in a recent webcast with sister publication, Artemis. Last week, the Artemis Live series of interviews and webcasts with leaders and experts from across the re/insurance and insurance-linked securities ... Read the full article
Swiss Re helps complete £3.7bn longevity swap deal for Fujitsu
13th May 2021
Global reinsurer Swiss Re has helped transfer risks associated with 9,000 members of Fujitsu's ICL Group Pension Plan, after backing a new £3.7 billion longevity swap deal. By leveraging a Guernsey captive insurance cell, not only was the risk transfer’s pricing optimised, its access to reinsurance capital became more efficient. After the ... Read the full article