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“Premium increases easing off in 2022” – CIAB

19th August 2022

The Council of Insurance Agents & Brokers (CIAB) has noted that the rapid increase in premiums seen in late 2020 and early 2021 continued to ease off in Q2 2022, with respondents to its market survey reporting an average increase in premiums across all account sizes of 7.1%. Nevertheless, the firm ... Read the full article

Zurich announce new appointments to Commercial Underwriting

18th August 2022

Zurich Insurance Group has announced two new appointments to its Commercial Insurance Underwriting team. Stephen Moss joins as Group Head of Financial Lines and Cyber, and Andreas Schmitt joins as Group Cyber Underwriting Manager. Moss first began serving Zurich in 2017, as Head of Specialties, UK. He has more than two decades ... Read the full article

Pool Re begins consultation over move to cat treaty model

18th August 2022

UK’s terrorism reinsurer Pool Re has launched a consultation process with its members about moving its reinsurance scheme to a catastrophe treaty reinsurance model. According to the announcement, this would be the start of a process examining a move to a more contemporary way of providing cover to an insurance market ... Read the full article

Coalition acquires Digital Affect Insurance Company in “strategic” move

17th August 2022

Cyber insurance and security provider, Coalition has completed the acquisition of Digital Affect Insurance Company - a P&C insurer licensed in all 50 US states - from Munich Re Digital Partners US Holding Corporation. According to the announcement, this acquisition will allow Coalition to offer insurance policies through its own admitted ... Read the full article

Probitas sees gross written premiums rise quicker than expected

16th August 2022

Probitas has said in its latest results that following a mid-year pre-emption of the 2022 Year of Account, gross written premiums for its Syndicate are expected to increase from an original plan of £202.5m to £223.5m. A further 22% increase to £271m is planned for the 2023 Year of Account. According ... Read the full article

Corvus appoints Madhu Tadikonda as Chief Executive Officer

11th August 2022

Specialty insurance MGA Corvus Insurance has appointed Madhu Tadikonda as its new Chief Executive Officer, effective immediately. He will join the Corvus Board of Directors and will report directly to the Board. At the same time, the InsurTech’s founding CEO, Phil Edmundson, will assume the new role of Executive Chair and Chair ... Read the full article

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10th August 2022

Thank you for subscribing to our Reinsurance News email newsletters and alerts. We hope you'll enjoy receiving all of our reinsurance news by email, but you will be able to unsubscribe at any time by finding the link in each email to do so. You can always stay up to date with ... Read the full article

Aon names James Platt Chief Digital Officer and Mindy Simon joins as COO

9th August 2022

Insurance and reinsurance broker Aon has named James Platt as Chief Digital Officer, Mindy Simon is joining the company as Chief Operating Officer (COO), taking over from Platt. Based in London, Platt will be overseeing Digital Client Solutions and will be reporting to Aon President Eric Andersen. In his new role he ... Read the full article

US P/C rates up 5.9% in Q2: MarketScout

8th August 2022

MarketScout data shows that US property and casualty (P/C) insurance rates are stabilizing at a composite increase of 5.91% in Q2 of 2022, matching the rate increases of Q1. MarketScout found cyber rates continue to increase the most at 21.3% up from 19.7% in Q1 of 2022. Umbrella rates moderated slightly by ... Read the full article

Coalition appoints first-ever CFO, names two more new hires

8th August 2022

Cyber insurance and security provider, Coalition, has appointed Jim Young as its first Chief Financial Officer (CFO) after raising $250m in a Series F funding round. According to Coalition, as first-ever CFO, Young will play a critical role in scaling the firm’s business and financial operations. He brings over 20 years of ... Read the full article

Mitsui Sumitomo reported on verge of $400m Transverse acquisition

7th August 2022

Japanese insurance group Mitsui Sumitomo has been reported to be on the verge of a $400 million acquisition of hybrid P&C program and fronting carrier specialist Transverse Insurance Group. Japanese newspaper the Nikkei reported the news and said a deal for the rumoured roughly $400 million acquisition could be announced before ... Read the full article

Cowbell launches its product on Amwins’ Professional Lines portal

3rd August 2022

Cowbell Cyber, a cyber insurance provider for small and medium enterprises (SMEs) has been selected by Amwins, an independent wholesale distributor of specialty insurance and services, as trusted digital partner for cyber insurance. According to the announcement, the partnership delivers on the promise of leveraging technology to automate cyber insurance applications ... Read the full article

Hiscox reports solid underwriting performance, but investments drive H1 net loss

3rd August 2022

Global re/insurer Hiscox has fallen to a loss of $107.4 million in the first half of 2022, as a negative investment result more than offset an improved underwriting performance in the period. The loss for H1 2022 compares with profit of $133.4 million a year earlier, with Hiscox highlighting a strong ... Read the full article

CFC added to Sayata’s digital distribution platform

2nd August 2022

Sayata, a marketplace for insurance brokers and carriers, has announced the addition of CFC – a specialist insurance provider, to the Sayata platform. The addition of CFC to the platform will offer brokers full access to CFC’s award-winning cyber insurance offering for small and medium businesses (SMBs). CFC’s cyber insurance solution offers ... Read the full article

Marsh Index shows moderating trend for pricing through Q2

2nd August 2022

Global commercial insurance prices increased 9% in the second quarter of 2022, down from an 11% increase in Q1, according to the latest Global Insurance Market Index by re/insurance broker Marsh. While this does represent the 19th consecutive quarter of increases, analysts note that the rate of increase continued to moderate ... Read the full article