Reinsurance News
Kemper CEO Lacher appointed Chairman as Joyce named Lead Director
6th May 2021
Kemper has announced that its President and Chief Executive Officer (CEO), and current director, Joseph P. Lacher, Jr., will take on the additional role of Chairman the Board, effective immediately. Lacher assumes the position from Robert J. Joyce, who has transitioned from the role of non-executive chairman to independent lead director. Lacher ... Read the full article
QBE positive on Q1 performance despite $260mn nat cat bill
6th May 2021
Each one of QBE's divisions secured premium rate increases that were either in line with or stronger than expectations during 2021's first quarter. Speaking during QBE's 2021 Annual General Meeting, Chairman and Interim Chief Executive Officer Michael Wilkins said headline Gross Written Premium was up 28%. This reflects premium rate increases, continued ... Read the full article
Munich Re’s Q1 operating result improves on lower COVID impact
6th May 2021
Global reinsurer Munich Re has announced a profit of €589 million for the first quarter of 2021 against €221 million a year earlier, as the operating result spiked owing to a considerably lower impact from COVID-19 losses in the period. For Q1 2021, Munich Re's operating result improved from €397 million ... Read the full article
Aston Lark Europe to trade under Aston Lark Ireland
6th May 2021
Robertson Low Insurances and Wright Group Brokers have completed their merger along with their subsequent rebrand to Aston Lark Europe, which now trades as Aston Lark Ireland. Continuing to operate out of the current offices in Dublin, Carlow, Portlaoise, Wexford and London, Aston Lark Ireland is headed up by CEO, Robert ... Read the full article
SRS makes two senior hires for Guernsey office
6th May 2021
Strategic Risk Solutions has appointed Elyse Dandeker and Stephen Nash to senior roles within the company’s newly established Guernsey office. Dandeker, who has been appointed to the position of Director of Accounting Services, joins SRS in June, whilst Nash joins later in the year and will be appointed to the position ... Read the full article
Optio Group acquires Northcourt
6th May 2021
Specialty MGA Optio Group has acquired nuclear risk specialist Northcourt from John McInespie and the Northcourt management team, who held a minority share. Northcourt’s executive management team and staff, led by CEO Alan Rickett, will all remain at the business. With the minimum liability limits for nuclear institutions set to rise dramatically ... Read the full article
Capacity is adequate, demand is high: GC’s Peter Hearn
5th May 2021
Peter Hearn, Chief Executive Officer of reinsurance broker Guy Carpenter (GC), has maintained that, despite some moderation in pricing over Q1, reinsurance market capacity remains adequate, and demand is high. The Guy Carpenter global property catastrophe rate online index increased just under 5% at the January 1 reinsurance renewals. And similarly, for ... Read the full article
Charles Taylor acquires loss adjusting firm IES
5th May 2021
Insurance services provider Charles Taylor has announced its acquisition of Insurance Engineering Services (IES), a loss adjusting practice headquartered in Italy. IES provides a range of services including loss adjusting, corporate claims management, risk engineering and training to the insurance market. Charles Taylor says the acquisition supports the growth of its adjusting ... Read the full article
AXIS Insurance hires Thomas Uribe as AVP, Excess Casualty
5th May 2021
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings has appointed Thomas Uribe as an Assistant Vice President for its U.S. Excess Casualty business. Uribe will be responsible for broadening relationships with distribution partners, expanding general new business opportunities and the execution of underwriting strategy. He will be based in ... Read the full article
BHSI hires Thieviasingham as Senior Underwriter, Transactional Liability
5th May 2021
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Daniel Thieviasingham as Senior Underwriter, Transactional Liability, Asia Middle East. Thieviasingham comes to BHSI with just under 10 years of experience in corporate finance, Mergers & Acquisitions and transactional liability insurance. He was most recently at Lockton London, prior to that he underwrote transactional risks ... Read the full article
Labuan IBFC highlights resilience despite challenging landscape
5th May 2021
The Labuan International Business and Financial Centre (Labuan IBFC) has highlighted its resilience and solid performance across sectors despite the unique challenges that 2020 brought. The Labuan Financial Services Authority was able to remain agile and respond to market needs via a set of pre-emptive temporary measures to alleviate the industry’s ... Read the full article
Lockton Re hires Dan Shaw as Senior Broker, London North America
5th May 2021
Lockton Re, the reinsurance arm of global brokerage Lockton, has appointed Dan Shaw to its London North America division later this year as a Senior Broker. Shaw will report to Mark Higgins, Head of London North America. He was most recently the Head of US Wholesale P&C Reinsurance at Acrisure Re. Over ... Read the full article
Trigger certainty & rapid payout give parametrics a competitive edge: Artemis Live
5th May 2021
Speed of payment, trigger certainty and the potential for much lower basis risk than the traditional insurance product, are three of the main competitive advantages of parametric insurance, according to industry experts. Last week, the Artemis Live series of interviews and webcasts with leaders and experts from across the re/insurance and ... Read the full article
Zurich hires Timothy Powell as Global Head Financial Lines and Cyber
5th May 2021
Zurich Insurance Group (Zurich) has appointed Timothy Powell as Global Head Financial Lines and Cyber, a newly created role that combines lines of business and simplifies the group’s offering. Powell’s position will take place at the end of this month where he will report to Ralph Brand, Global Head of Casualty, ... Read the full article
Mercury General reports $107mn net income for Q1
5th May 2021
Mercury General Corporation has reported a net income of $107 million for the first quarter of 2021, after having fallen to a $139 million loss in the prior year quarter. This turn around was largely driven by the company's investment performance, having registered a $231 million improvement after having announced $198 ... Read the full article