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Probitas 1492 names Mark Smith as Senior Underwriter

18th January 2018

Probitas 1492 has named Mark Smith as Senior Underwriter for Management Liability in the Financial Lines team. Smith, who joins Probitas from QBE, is set to take responsibility for the syndicate’s Management Liability portfolio. Neila Buurman, Chief Underwriting Officer for Casualty, commented; "we are very excited that Mark has joined the team ... Read the full article

Volante Global launches London market commercial motor MGA, Edison Motor

18th January 2018

Multi-class international managing general agent (MGA) platform, Volante Global Limited, has announced the establishment of Edison Motor, a London market commercial motor insurance MGA. Edison Motor will offer comprehensive commercial motor insurance solutions to niche markets in the UK, with key business lines being the public sector, such as police forces, fire ... Read the full article

FEMA secures $1.46 billion of flood reinsurance for 2018

5th January 2018

The U.S. Federal Emergency Management Agency (FEMA) has increased the size of its flood reinsurance program for 2018, securing $1.46 billion of coverage for the National Flood Insurance Program (NFIP). The 2018 NFIP reinsurance program has been placed with 28 private reinsurers and will provide the NFIP with coverage across two ... Read the full article

Volante Global to launch in Q1 2018 as global MGA platform

20th December 2017

Volante Global is set to launch in the first quarter of 2018 as a new UK headquartered multi-class and multi-platform global Managing General Agent (MGA) backed by Nephila Capital and subject to Lloyd's Coverholder approvals where appropriate. The group is establishing an international network of underwriting teams located in key territories ... Read the full article

B3i platform gains traction as it prepares to launch legal entity

18th December 2017

As B3i, the Blockchain Insurance Industry Initiative, prepares to launch as a legal entity in early 2018, independent research shows a strong business model with  adoption potential for re/insurers across all lines of business with an estimated average 12% efficiency improvement of cost in scope across the value chain. Market analysis commissioned ... Read the full article

FEMA set for full $1.024 billion NFIP flood reinsurance recovery

6th December 2017

The U.S. Federal Emergency Management Agency (FEMA) is set to recover the full $1.024 billion under its 2017 flood reinsurance program for the National Flood Insurance Program (NFIP), as its estimates show the entire layer blown by losses from hurricane Harvey. The 2017 reinsurance program was placed in January 2017 and ... Read the full article

Neon hires Heppell from MS Amlin to be CFO

24th November 2017

Insurance and reinsurance specialist Neon has announced the hiring of Richard Heppell, previously of MS Amlin Underwriting Ltd., as its new Chief Financial Officer. Heppell oversaw the integration of the Amlin and Mitsui Sumitomo Insurance Lloyd’s syndicates, and was previously the Finance Director at Mitsui Sumitomo. Before that he held a range ... Read the full article

Acappella names Bessant as Head of War, Terrorism, & Political Violence insurance

10th October 2017

Acappella Syndicate 2014  has named Louise Bessant as new Divisional Head of its War, Terrorism & Political Violence Insurance Portfolio. Bessant will be supported by Emily Humphries who joined Acappella in 2015. Bessant brings over 25 years of London market experience to the new role, including four years at Canopius before moving ... Read the full article

23 new members join B3i market testing phase

2nd October 2017

B3i, the blockchain insurance industry initiative, has announced that 23 new entrants have joined its Market Testing program, following the launch of a working market testing prototype at the meeting of the reinsurance industry in Monte-Carlo. The B3i initiative has attracted global interest, and the testing phase is scheduled to start ... Read the full article

Munich Re, HDI, Everest Re, Lloyd’s most exposed to Puerto Rico hurricane loss: KBW

27th September 2017

Analysts at Keefe, Bruyette & Woods (KBW) have provided an updated list of the reinsurers they deem likely to take the biggest share of the losses from hurricane Maria's devastating impact on Puerto Rico. Top of the list of those assuming risk from insurers operating in Puerto Rico is global reinsurance ... Read the full article

“Significant damage” from Mexico City earthquake: AIR

21st September 2017

The magnitude 7.1 earthquake that struck Mexico two days ago around 75 miles from the capital city has caused "significant damage" according to catastrophe risk modeller AIR Worldwide. Once losses are tallied the international reinsurance market is expected to take a significant proportion of the claims. It was the second major ... Read the full article

Top 50 Global Reinsurance Groups

4th September 2017

Top 50 Global Reinsurance Groups This Top 50 Global Reinsurance Groups directory is based on research data from rating agency A.M. Best. Listing the top reinsurers in the world, this directory provides a simple way to analyse the world's top reinsurance companies. The global reinsurance groups featured are ranked by unaffiliated gross reinsurance ... Read the full article

Insurance sector M&A declines in H1 but expected to rebound: Clyde & co

8th August 2017

The volume of insurance mergers and acquisitions (M&A) in the first-half of 2017 declined by 8.6% to 170 deals when compared with the preceding six months, although more deals are expected in the remainder of the year, according to Clyde & Co. Clyde & Co's recently published mid-year 2017 Growth Report ... Read the full article

Chubb UK & Ireland promotes Savvas to Head of PI

4th August 2017

Chubb UK and Ireland has announced the promotion of Chris Savvas to Head of PI as it looks to develop and improve its capabilities in financial lines and the professional indemnity sector. The appointment is effective immediately and is a promotion from Savvas' previous position of Senior PI Underwriter. He will be ... Read the full article

Berkshire Hathaway Specialty Insurance opens Dublin office, names P&C manager

2nd August 2017

Berkshire Hathaway Specialty Insurance Company (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced the launch of a new Dublin, Ireland office and the appointment of Cormac McNamara as the unit's Property & Casualty (P&C) Manager. McNamara joins the firm with 24 years of insurance industry experience across the UK and ... Read the full article