Reinsurance News
Coaction names William Sloan as EVP and CFO
1st June 2023
Specialty property and casualty insurer Coaction has appointed William (Bill) Sloan as executive vice president and chief financial officer (CFO), effective immediately. In his new role, Sloan will oversee Coaction's finance organisation, including accounting, controllership, financial planning and analysis, tax, investor relations, asset management, and treasury. He will be based at ... Read the full article
MGA and Lloyd’s syndicate Volante launches in Singapore
1st June 2023
Asta, a third-party managing agent at Lloyd’s, has announced that Volante Global, a multi-class, multi-territory international MGA and Lloyd’s syndicate has launched in Singapore. Volante Singapore will offer re/insurance solutions across Asia Pacific, Greater China, Southeast Asia, South Korea, and Japan through Volante’s own A-rated Lloyd’s Syndicate 1699. The focus for its ... Read the full article
Property-cat rates up 33%, index hits record high at June 1: Howden Tiger
1st June 2023
Howden Tiger reports a significant increase in reinsurance rates, with risk-adjusted property-catastrophe pricing up 33% on average at June 1 renewals, reaching its highest level since inception. The rate increase fell within the range of 25% to 40%, with variations depending on the specific layer. This follows a 25% increase ... Read the full article
Shanghai global reinsurance centre goals bolstered by supportive regulations
1st June 2023
Shanghai's intentions to build itself into a global reinsurance centre have been further bolstered by the news that an international reinsurance trading market, or reinsurance international board, will be launched in the near future, according to a report from China Daily. Zhang Zhongning, deputy director of the general office of the ... Read the full article
Simon McGinn stepping down as CEO of Allianz Commercial
1st June 2023
Allianz Holdings has announced that Simon McGinn, CEO of Allianz Commercial will be stepping down from his position, effective July 1, 2023. McGinn joined the company in 2004 as trading director, before later going on to take on the role of director, commercial broker markets. Fast forward to 2013, he was then ... Read the full article
Treefrog Consulting new Risk Management Services to meet BMA September 1st regulations
1st June 2023
Bermuda-based Treefrog Consulting has announced s Risk Management Services specifically designed to help organisations in the re/insurance, and ILS sector meet Bermuda Monetary Authority's (BMA) new Insurance and Cyber Codes of Conduct regulations. Coming into effect on September 1, 2023, the BMA regulations call for the implementation of an effective Risk ... Read the full article
Ardonagh Group expands European footprint through acquisition of Greek-based SRS Group
1st June 2023
The Ardonagh Group, one of the largest independent insurance brokers in the UK, has announced its entry into the Greek market with the majority acquisition of SRS Group of Companies, based in Athens. SRS Group, founded in 2019, operates as a prominent independent wholesale reinsurance broker and a managing general agent ... Read the full article
Miller appoints Lockton International’s Craig McCoig-Lees as part of Asia reinsurance expansion
1st June 2023
Specialist re/insurance broker Miller has appointed Craig McCoig-Lees as a Treaty and Facultative Casualty and Financial Lines specialist broker. In his new role, McCoig-Lees will support the continuing build out of Miller’s Facultative and Treaty reinsurance offering in Asia, with a particular focus on Casualty and Financial lines. The broker has confirmed ... Read the full article
Guy Carpenter analysis shows modelled 1:200-year global cyber industry loss at $33.4bn
1st June 2023
According to Guy Carpenter, the US-domiciled cyber market currently stands at approximately $9 billion, with the non-US market totalling approximately $5 billion. Guy Carpenter has released a new report on the cyber re/insurance market focused on the examination of the evolution of cyber as a core line of business. Along with ... Read the full article
VYRD confirms completion of 2023 Florida reinsurance program
1st June 2023
VYRD Insurance Co., an admitted Florida-domiciled Property and Casualty insurance firm, has successfully completed its 2023 reinsurance program for the upcoming Atlantic hurricane season. VYRD suggests that its reinsurance program "exceeds regulatory and rating agency requirements and provides coverage for multiple catastrophic events." The program runs from June 1, 2023, through May ... Read the full article
W. R. Berkley creates Berkley Specialty Excess to focus on environmental and energy industries
1st June 2023
W. R. Berkley Corporation has announced the formation of Berkley Specialty Excess. The subsidiary is created to offer excess liability coverages in specialized markets, with an initial focus on the environmental and energy industries. John Termini has been named President of the new business, effective immediately. W. Robert Berkley, Jr., the President and ... Read the full article
RiverStone International makes hires for Non-Executive Directors for UK
1st June 2023
RiverStone International, the largest provider of legacy solutions in Lloyd’s market, has announced the appointments of Heather Thomas and Jose Vazquez as independent Non-Executive Directors of its UK subsidiaries RiverStone Insurance UK Limited and Riverstone Managing Agency Limited. Luke Tanzer, the Chief Executive Officer of RiverStone International said, “We are delighted ... Read the full article
The Hartford announces Henderson’s promotion among a number of leadership appointments
1st June 2023
Property and casualty insurer, The Hartford has announced new leadership appointments in Group Benefits, Small Commercial and Personal lines. Hayes Henderson has been promoted to head of sales and relationship management for Group Benefits, succeeding Lori High who is retiring after 10 years with the company. He will be responsible for developing ... Read the full article
Venerable Holdings to recapture annuity blocks from Athene
1st June 2023
Venerable Holdings, a provider of risk transfer solutions to variable annuity issuers, is to recapture approximately $2.8 billion of payout annuity reserves from Athene. In a recent announcement, Venerable stated it has agreed for its wholly-owned subsidiary Venerable Insurance and Annuity Company (VIAC), to recapture the annuity blocks from the retirement ... Read the full article
Brown & Brown appoints Pattysue Rauh as chief audit officer
1st June 2023
Insurance brokerage Brown & Brown has appointed Pattysue Rauh as chief audit officer, effective July 2023. In this new role, Rauh will lead Brown & Brown's internal audit and compliance operations, overseeing internal controls. She will also serve on the senior leadership team. Rauh will transition from her current role as executive ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
