Reinsurance News
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Aon – WTW: Remedy proposal reportedly submitted to US DOJ
22nd April 2021
It's been reported that Aon has submitted a remedy offer to the US Department of Justice Antitrust Division as it seeks to gain approval for its planned acquisition of rival Willis Towers Watson (WTW) . Earlier this week we reported on the news that an expansion of the divestment package ... Read the full article
Aon / WTW: Reports suggest expansion of divestment to the US needed
20th April 2021
As the saga surrounding the proposed combination of brokers Aon and Willis Towers Watson (WTW) continues, sources suggest that an expansion of the deals divestment package needs to include the U.S. to appease the Department of Justice (DoJ). The mega-merger of rival insurance and reinsurance brokers Aon and WTW has, unsurprisingly, ... Read the full article
Insurers need to increase reinsurance process efficiency: Sequel
16th April 2021
Analysts at Sequel have argued that insurers need to rethink their “highly inefficient approach” to reinsurance buying, alongside the release of the latest version of the Sequel Re system. Sequel, a Verisk business, argues that investing in an end-to-end reinsurance system is now the logical way to manage reinsurance programs efficiently ... Read the full article
Resilience hires Eduard Alpin as Chief Actuary
16th April 2021
Resilience Cyber Insurance Solutions has appointed Eduard Alpin as Chief Actuary. Alpin most recently served as the Director of Cyber Solutions at Verisk Analytics, a data analytics and risk assessment firm. At Verisk he led the ISO Cyber Rating Plan development and launched the Cyber Data Exchange, a first-of-its-kind global data-sharing platform. Over ... Read the full article
Property cat rates up again at April 1 but increases fading: Guy Carpenter
15th April 2021
Property catastrophe pricing increased for the third year running at the April 1st, 2021 reinsurance renewals, while discussions about coverage were dominated by communicable disease and cyber, according to Guy Carpenter (GC), the reinsurance broking arm of Marsh. Despite the positive momentum continuing at April 1st, GC notes that the average ... Read the full article
Chubb makes two senior leadership appointments
14th April 2021
Global re/insurer Chubb has announced two leadership appointments within its North America Accident and Health (A&H) business. Suresh Krishnan, Chubb's current Chief Operating Officer, North America Accident and Health, has been named Executive Vice President, Head of North America Specialty Accident and Health. In this expanded role, he will look to grow ... Read the full article
Aon / WTW EC remedy doesn’t address needs outside Europe: Report
14th April 2021
Divestment proposals reportedly offered by Aon to the European Commission (EC), designed to secure EU antitrust approval for its proposed merger with Willis Towers Watson (WTW), do not address competition concerns elsewhere in the world. As a result, the insurance and reinsurance broker could be forced to come up with other ... Read the full article
Mark Wheeler named Co-CEO at Mosaic
13th April 2021
It’s been announced that industry veteran Mark Wheeler will take a Co-Chief Executive Officer role at newly launched specialty insurer Mosaic Insurance, joining fellow Bermuda-based CEO Mitch Blaser. Over his more than 30-year career, Wheeler has served in a variety of leadership roles, overseeing capital planning, underwriting and distribution across global ... Read the full article
Brokerslink adds B. Riley Advisory Services Group to network
8th April 2021
Independent broker network Brokerslink has expanded its international network with the addition of financial advisory, B. Riley Advisory Services Group. Riley’s Compliance, Risk and Resilience practice specialises in business continuity, cybersecurity risk management, crisis management, enterprise risk management and operational resilience for corporate organisations across a range of industry sectors. Brokerslink’s partners ... Read the full article
Insurtech Corvus enters partnership with Skyward Specialty
7th April 2021
Boston-based insurtech firm Corvus Insurance has entered into a new partnership with Skyward Specialty Insurance Group to expand its Smart Cargo + Cyber offering. The announcement comes after Corvus raised $100 million in a Series C fundraising round, bringing the company to a $750 million valuation. Corvus Smart Cargo + Cyber insurance ... Read the full article
Mosaic recruits William Monat to lead transactional liability
7th April 2021
Mosaic, the global specialty insurance company recently launched by Ironshore executive Mitch Blaser, has announced the appointment of William Monat as Executive Vice President, Global Head of Mergers & Acquisitions (M&A). Based in Chicago, Monat will spearhead the specialty company’s transactional liability business and oversee underwriting operations in North America, the ... Read the full article
Ledger Investing adds ex-AIG CEO Peter Hancock to board
1st April 2021
Ledger Investing, the insurtech and insurance-linked securities (ILS) focused venture-backed company, has announced the addition of industry veteran Peter Hancock to its board of directors. Hancock, previously the President and Chief Executive Officer (CEO) of AIG, has had a distinguished career in banking, insurance, and capital markets. Prior to his time with ... Read the full article
Market pricing remains firm at 4/1 despite ample capacity: Willis Re
1st April 2021
Broker Willis Re has reported that market pricing has remained firm in virtually all classes and territories at the April 1 reinsurance renewals, despite there being no shortage of capacity. According to Willis Re’s 1st View report on the April renewal period, conditions very much continued in line with what was ... Read the full article
WTW makes two senior appointments
30th March 2021
Re/insurance broker Willis Towers Watson has appointed Elizabeth Bart and Frédéric Matte as directors in the company’s North America Property & Casualty practice within its Insurance Consulting and Technology (ICT) business. Bart is Chicago based and will be responsible for reserving, including delivery of consulting services and technology sales. She will ... Read the full article
Kovrr adds Hetul Patel to advisory board
22nd March 2021
Cyber risk modeller Kovrr has announced that Hetul Patel has joined its advisory board. Hetul is currently Director for non-life consulting at Actuaries OnTap. He has extensive knowledge of the reinsurance industry gained through his 20 years’ experience working as an actuary and executive in the global reinsurance industry. His experience includes ... Read the full article