Reinsurance News
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Half of customers would consider insurance from digital players, report shows
20th September 2021
New research published by Capgemini and Efma shows that, for the first time, 50% of insurance customers are willing to consider coverage from new-age digital players, as incumbents seek strategic partnerships to remain competitive. The World InsurTech Report 2021 notes that insurtechs and big tech players are leveraging significant capital inflows ... Read the full article
Resilience hires Chubb’s Kyle Bryant as International CUO
17th September 2021
Resilience Cyber Insurance Solutions has appointed Kyle Bryant as International Chief Underwriting Officer to lead its overseas expansion. Bryant joins Resilience from Chubb Overseas General Insurance where he was responsible for the strategy, development, and financial performance of the Cyber and Technology lines of business in international markets. Prior to joining Resilience, ... Read the full article
Corvus, SiriusPoint announce investment & underwriting capacity partnership
16th September 2021
Corvus Insurance, a provider of smart commercial insurance products, has partnered with specialty re/insurer SiriusPoint, via a strategic investment and multi-year underwriting capacity partnership that will support existing and future commercial insurance product offerings. The partnership’s first program, with leading program management solution provider R&Q’s Accredited acting as the fronting insurer, ... Read the full article
Envelop Risk eyes expansion following successful $130mn Series B funding
15th September 2021
Data-driven underwriting and analytics company, Envelop Risk, has announced a Series B funding round in which it secured investments of USD 130 million led by SoftBank Vision Fund 2. As part of the transaction, Neil Cunha-Gomes, Investor for SoftBank Investment Advisers, is set to join Envelop Risk’s board of directors. The company ... Read the full article
Markel eyes French market SMEs with Paris office launch
14th September 2021
Specialist insurer Markel has opened a new branch office in Paris to help support small and medium-sized enterprises (SMEs) in the French market. The move also helps further the firm's longstanding strategy to expand and scale its global footprint in key specialty insurance markets. As a result Markel will partner with a ... Read the full article
Increase in capital enables Fidelis to continue to innovate: Dan Burrows
13th September 2021
After raising a significant amount of capital in 2020, a trend which has continued this year, specialty insurer and reinsurer, Fidelis Insurance Holdings Limited, continues to innovate and sees opportunities across most lines of business, according to Dan Burrows, Executive Chairman of Fidelis Bermuda and Group Managing Director. In 2020, equity ... Read the full article
AV8 Ventures launches second fund backed by Allianz SE
13th September 2021
AV8 Ventures has launched with a $180 million second fund to help drive emerging technologies in AI-driven health, mobility and enterprise. AV8 Ventures has invested in 20 companies with a focus on the US since its launch in 2018. “We are humbled by the continued support from Allianz and our founders who ... Read the full article
Vouch locks in $90mn of new funding, announces WeWork partnership
10th September 2021
Startup insurance platform Vouch has secured $90 million of new funding and revealed their role as the preferred business insurance provider to Brex, Carta, and WeWork customers. The firm has also established its own authorised insurance carrier and expanded its line of products. After two rounds of financing Vouch has secured a ... Read the full article
2021 fast becoming the year of ESG: Guy Carpenter execs
10th September 2021
During a recent briefing hosted by Guy Carpenter, industry executives claimed that environmental, social and governance (ESG) issues have become more important than ever for reinsurers this year. Jessica Turner, Managing Director for Catastrophe Advisory at Guy Carpenter, highlighted the growing significance of ESG risks during a discussion that focused on ... Read the full article
WTW outlines Investor Day strategy
10th September 2021
Re/insurance broker Willis Towers Watson (WTW) has outlined its strategy to drive long-term growth and value creation for shareholders at its Investor Day. The broker plans to focus on core opportunities with the highest growth and return, including gaining market share in Risk and Broking and Individual Marketplace, along with innovating ... Read the full article
Palomar Holdings enters fronting sector of U.S. insurance market
9th September 2021
Palomar Holdings has entered the fronting sector of the United States insurance market, through its business PLMR-FRONT. PLMR-FRONT will partner with reinsurers, insurance carriers and managing general agents to enable the design and operation of customised insurance programs. The company will front paper on both an admitted and non-admitted basis through Palomar ... Read the full article
“Inflation is the enemy of the re/insurance industry,” says Swiss Re CUO Léger
9th September 2021
As the global insurance and reinsurance industry continues to grapple with the challenges of the current higher inflationary environment, Thierry Léger, Group Chief Underwriting Officer (CUO) at Swiss Re, has described inflation as the "enemy" of the industry. Earlier this morning, reinsurance giant Swiss Re hosted its Rendez-Vous de Septembre (RVS) ... Read the full article
Climate change the industry’s largest growth opportunity, says Swiss Re
9th September 2021
Climate change, while acknowledged as a real and existential threat, has been highlighted by Swiss Re as the re/insurance industry's largest opportunity for growth. The reinsurer has called for an annual investment of $6.9 trillion to meet current 2030 targets and warns of devastating consequences to the global economy should this ... Read the full article
Reinsurance market environment is positive, but pricing must stay in place: Munich Re’s Jeworrek
7th September 2021
Overall, the re/insurance market environment is "very positive", but in order for the industry to be able to cover rising losses from natural catastrophes, it's "absolutely necessary that we keep this price level in place," according to Dr. Torsten Jeworrek, Munich Re's Chief Executive Officer (CEO) of Reinsurance. Global reinsurer Munich ... Read the full article
Fitch sees reinsurance sector outlook improving in 2022
7th September 2021
Analysts at Fitch Ratings are forecasting significant improvements in reinsurers’ financial performances next year due to higher prices in a hardening market, a strong rebound in economic activity and lower pandemic-related losses. The rating agency says these positive factors should outweigh the negative effects of declining investment returns, increasing natural catastrophe ... Read the full article