Reinsurance News
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QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
Chaucer promotes Simon Tighe to Group Head of ESG
22nd May 2023
Specialty re/insurance group Chaucer, has announced the promotion of Simon Tighe to Group Head of Environmental, Social, and Governance (ESG), in addition to his role as Group Head of Investments & Treasury within the firm. Tighe has been described as a “driving force” in the evolution of Chaucer’s ESG strategy. Particularly, ... Read the full article
Chaucer becomes latest signatory of UN Principles for Sustainable Insurance
12th May 2023
Global re/insurance group Chaucer has signed up to the UN Principles for Sustainable Insurance (PSI), which provides a global framework for the industry to address environmental, social and governance (ESG) risks and opportunities. The PSI was developed through a partnership between risk management leaders and the United Nations Environment Programme Finance ... Read the full article
Insurers and businesses feel growing impact of ESG, says GILC
12th May 2023
Gillian Davidson, Global Insurance Law Connect’s (GILC) Chair, highlighted the increasing importance of Environmental, Social, and Governance (ESG) considerations for insurers and the wider business community. In the fifth edition of GILC's annual ‘Risk Radar Report’, Davidson noted that ESG factors were significantly influencing the insurance industry, driven by new regulations ... Read the full article
Munich Re Specialty Group launches Green Solutions portfolio to support net-zero ambitions of clients
3rd May 2023
Munich Re Specialty Group, a division of reinsurance giant Munich Re, has launched Green Solutions, a range of insurance products and services designed to support the net-zero ambitions of its customers. The portfolio has been created to establish the group as a leading provider of commercial specialty and primary green insurance ... Read the full article
WTW introduces ESG initiative to help clients manage climate risks
28th April 2023
Global brokerage WTW has expanded its predictive climate analytics capabilities with the introduction of a new Environmental, Social, and Governance (ESG) initiative. WTW’s Climate Risk Solutions for Corporate Risk & Broking (CRB) North America, is a fully integrated strategy combining the breadth of the broker’s ESG resources to help its clients ... Read the full article
Re/insurers are taking steps to move the ESG needle: Marisa Savage, PwC Bermuda
13th March 2023
As environmental, social and governance (ESG) adoption continues to accelerate in the reinsurance and insurance-linked securities (ILS) world, the focus right now is on the environmental side of things amid the urgent need to transition to a low carbon economy, according to Marisa Savage, Partner in the PwC Bermuda Insurance ... Read the full article
Hiscox reveals ESG syndicate launch plan
8th March 2023
Specialist insurer and reinsurer Hiscox is taking steps to capitalise on global economies' increasing interest and investment in transition and green technologies with a new environmental, social and governance (ESG) syndicate, the company revealed today. The new discreet sub-syndicate will have a focus on ESG-positive risks and will be nested with ... Read the full article
Chaucer unveils update to its ESG sustainability strategy
16th February 2023
Specialty re/insurance group Chaucer has unveiled an update to its ESG sustainability strategy, outlining how it will decarbonise its business and embed ESG into the underwriting decision-making process. Chaucer states that its ESG strategy will be applied across all six of its defined core functions – Investments, Marketing, Underwriting, Operations, Risk ... Read the full article
Study reveals lack of understanding over re/insurers’ ESG data use
3rd February 2023
According to a recent report from Better Insurance Network and Oxbow Partners, brokers are hoping to get more consistency and transparency from insurers on how client environmental, social and governance (ESG) data is being used. The report, titled ‘ESG Data for Underwriting – How (re)insurers can capture and implement ESG more ... Read the full article
WTW launch analytics platform ESG Clarified
3rd February 2023
Broking and solutions company WTW has launched ESG Clarified, an analytics platform to help organisations better understand and address their climate, sustainability and wider ESG risks. ESG Clarified offers a comprehensive, analytical solution, underpinned by multiple data sources to assist with trending insight, scenario analysis and reporting. WTW suggests that the rapidly ... Read the full article
ESG concerns “on the rise”, may impact underwriting decisions for casualty: Alliant
1st February 2023
In a new report from Alliant Insurance Services, the firm highlights how Environmental, Social and Governance (ESG) concerns are on the rise, which could potentially impact future insurer underwriting decisions for casualty lines of business. The report also showed that capacity remains constrained for difficult risks, while at the same time, ... Read the full article
Insurers expected to increase investment risk tolerance: Conning
31st January 2023
U.S. insurers are expected to increase their risk tolerance and grow portfolio allocations to private assets amid concerns of higher market volatility and inflation, a survey by global insurance asset management firm Conning has revealed. Guided by 2022’s market environment, the Conning Risk Assessment Survey of U.S. Insurers focused on risk ... Read the full article
Zurich & ICS launch Envision Re as sustainability-focused group captive
10th January 2023
Zurich North America has collaborated with Innovative Captive Strategies (ICS) to launch Envision Re, Ltd., a captive insurance company that will bring together businesses that want to optimise their risk management programs while reducing their carbon footprint. Dawn Hiestand, Head of Group Captives at Zurich North America, commented, "Envision Re's sustainability ... Read the full article
Allianz (AGCS) installs dedicated ESG organisation
20th December 2022
Allianz Global Corporate & Specialty (AGCS) has installed an established, dedicated in-house organisation for Environmental, Social & Governance (ESG) activities. The firm has made several high-level leadership roles and appointments for the new leadership team. Gabrielle Durisch will join the firm from Zurich Insurance Group in April 2023 as the new Global Head ... Read the full article
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