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MGA Nirvana launches European W&I binder, headed by Thomas Mannsdorfer

21st September 2023

Nirvana, a newly launched Media, Tech and Cyber MGA, has launched its new European SME Warranty & Indemnity (W&I) binder, led by mergers & acquisitions (M&A) underwriting expert, Thomas Mannsdorfer. According to the announcement, the team has a total available line size of €20 million, in partnership with a select ... Read the full article

QBE names Agarwal as Director of Underwriting & Portfolio Management for Europe

20th September 2023

Primary insurer QBE has announced that it has appointed Naintara Agarwal as the Director of Underwriting and Portfolio Management for Europe. Based in London, Agarwal brings a vast degree of industry knowledge and experience to the role, spanning more than 15 years. Her experience across the industry includes leadership roles in developing ... Read the full article

Reinsurance rate changes ‘only one side of the coin,’ says Mirek Wieczorek, ICW Group

20th September 2023

In the ever-changing landscape of the re/insurance industry, the focus on rate increases has been intense in recent times, but according to Mirek Wieczorek, Head of Reinsurance at ICW Group Insurance Companies, there's more to the story than just rising rates. "It's only one side of the coin," Wieczorek states in ... Read the full article

Burke joins Tokio Marine Kiln Life Sciences division

20th September 2023

Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has announced the appointment of Liam Burke to its Life Sciences division as underwriter, effective immediately. In his new role, he will be responsible for the growth and development of its globally available (ex-US) IntelliMed product, which offers specialist and ... Read the full article

Inver Re launches global index practice after Johansmeyer appointment

19th September 2023

Inver Re, the reinsurance broking arm of the Ardonagh Group, has announced the launch of an integrated global index practice, to be led by Tom Johansmeyer. Johansmeyer's appointment as Inver Re’s Global Head of Index was announced earlier in the year. He joined the broker from Verisk, where he had ... Read the full article

Dubai DIFC continues to attract new re/insurers, on track for 20% annual growth

18th September 2023

The Dubai International Financial Centre (DIFC) has granted several licenses to insurance and reinsurance firms in recent months, with the sector on track for 20% year-on-year growth. In the first half of the year, gross written premiums rose 18% on H1 2022 and 34% on H1 2021 to USD 1.2 billion, ... Read the full article

Sayata names Manny Johl Head of Partnerships

15th September 2023

Sayata, a marketplace for insurance brokers and carriers, has announced the addition of Manny Johl to the Carrier Relations department as Head of Partnerships. In his new role, Johl will drive initiatives to bring in and onboard new carrier partners, as well as steward and deepen current relationships to deliver more ... Read the full article

Markel strengthens in Australia with in-country leader & new offices

14th September 2023

Markel has announced the appointment of Rory Morison as the Managing Director of its Australian business, who will lead three new offices in the country that are set to open this month. The new offices are based in Sydney, Melbourne, and Brisbane. Markel Australia will focus on providing underwriting solutions to ... Read the full article

US commercial insurance rates rise again in Q2: WTW

13th September 2023

Insurance broker WTW’s quarterly survey shows that U.S. commercial insurance prices have continued to increase in the second quarter of 2023. The company's Commercial Lines Insurance Pricing Survey (CLIPS) compares insurance prices on policies underwritten during Q2 2023 to the prior year Q2. It shows an overall year-on-year increase of 6.1%, slightly ... Read the full article

Mosaic expands Canadian presence with expert underwriting team across five key specialties

13th September 2023

Mosaic Insurance continues its rapid growth in the Canadian specialty insurance market, solidifying its presence by assembling a team of seasoned underwriting specialists across five crucial product lines. Since establishing its Toronto office in July of last year, the global firm has extended its reach coast to coast, offering innovative solutions ... Read the full article

ABIR member companies see record GWP of $145bn in 2022

12th September 2023

Member companies of the Association of Bermuda Insurers and Reinsurers (ABIR) reported record gross written premium of nearly $145 billion in 2022, up from $128 billion in 2021. These figures stem from ABIR’s global underwriting report, which comprises data from 24 of 30 member re/insurers for the calendar year 2022. The ... Read the full article

Connect Underwriting launches MGA Stability Risk

11th September 2023

Specialist reinsurance MGA, Connect Underwriting Limited, has announced the launch of London-based MGA Stability Risk UW Limited. Regulated by the UK Financial Conduct Authority, Stability Risk will be supported by Lloyd’s and London-market capacity and will initially write contingency, casualty, cyber and financial lines on a global basis. Connect Underwriting said the ... Read the full article

Munich Re to increase capacity, if rates and conditions are right: Blunck

11th September 2023

Munich Re, a global leader in reinsurance, is poised to bolster its capacity to meet the ever-evolving challenges of the market environment, as announced by Thomas Blunck, Member of the Board of Management. The company acknowledges the complex uncertainties stemming from factors like inflation, geopolitical risks, deglobalisation, climate change, and cyber ... Read the full article

Further price increases & improved T&Cs expected at Jan 1: Hannover Re

11th September 2023

Hannover Re has noted that it anticipates further price increases and improvements in terms and conditions in the renewals at 1 January 2024 in P&C reinsurance, citing ongoing geopolitical uncertainties, increasing frequency and severity of natural catastrophe losses, as well as unchanged high inflation rates and social inflation as key ... Read the full article

Asset-light structures play a critical role in insurance: Howden Tiger, Conning

10th September 2023

Reinsurance broker Howden Tiger, in collaboration with insurance research group Conning, has released a new report examining the growing importance and influence of asset-light structures to the re/insurance industry during times of heightened underwriting and investment volatility. The comprehensive report, Travelling Light, explores the rise and impact of asset-light insurance structures, ... Read the full article