Reinsurance News
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SCOR concludes sustainability-linked LOC
28th January 2022
French reinsurer SCOR has concluded a five-year sustainability-linked standby letter of credit facility with Crédit Agricole CIB, which has been structured to incorporate an indexation to SCOR’s two key public ESG commitments. One of the commitments includes the Group Executive Committee to comprise at least 30% women by 2025, followed by ... Read the full article
Markel Intl. names Ruth Gordon as livestock underwriter
27th January 2022
Markel International, a subsidiary of Markel Corporation, has appointed Ruth Gordon as a livestock underwriter as part of its expansion within the livestock market. Gordon will join Markel International’s livestock underwriting team, where she’ll be responsible for growing and developing the livestock portfolio of business. She has worked in Markel’s equine and ... Read the full article
Everest Re signs UN Principles for Sustainable Insurance
26th January 2022
Bermuda-based Everest Re Group has become an official signatory of the UN Principles for Sustainable Insurance (PSI), a global framework for a sustainable insurance industry developed through partnership between risk management leaders and the United Nations Environment Programme Finance Initiative. The company is one of 12 Bermuda or North American-based insurance ... Read the full article
Covid-19 prompts investment rethinking for insurers
24th January 2022
The Covid-19 pandemic, two years in, has caused major shifts in the investment policies of major insurers, according to a new report from bfinance. The Insurer Investment Survey, released this week, reports on how insurers have been working to improve their investment outcomes since March 2020. This move, said bfinance, in ... Read the full article
Aspen to incorporate ESG into Credit & Political Risk decision making
12th January 2022
Bermudian re/insurer Aspen has launched environmental, social and governance (ESG) integration strategy Project Leaf, which will help provide information into the decision making process for its Credit and Political Risk (CPR) portfolio. The re/insurer aims to see 66% of its CPR premium originating from transactions with a favourable ESG classification by ... Read the full article
Change is being driven by consumer demand: Krista Griggs, Fujitsu
11th January 2022
Change is being driven by consumer demand, whether it’s for digital services, convenience or sustainable offerings, according to Krista Griggs, Head of Financial Services and Insurance at Fujitsu UK & Ireland. “Insurance organisations could never have predicted the rippling impact it would have, but as the industry recovers and as we ... Read the full article
EPIC and DIATOMS enter exclusive partnership
5th January 2022
EPIC Insurance Brokers and Consultants (EPIC), a retail property and casualty insurance brokerage and employee benefits consultant, has entered a partnership with Todd Morley and DIATOMS. The partnership between DIATOMS and EPIC will focus on insuring infrastructure assets in conjunction with the financings of those assets around environmental, social and governance ... Read the full article
AIG names new EVP, Global Head of ESG
15th December 2021
AIG has announced the appointment of Constance Hunter as Executive Vice President, Global Head of Strategy & ESG. In early 2022 Hunter will report to President & Chief Executive Officer Peter Zaffino as well as join AIG's executive leadership team. She joins from KPMG having served as Chief Economist since 2013 and ... Read the full article
Reinsurer data capabilities provide edge amid ESG integration: Jefferies
14th December 2021
Analysts at Jefferies have suggested that reinsurers’ data capabilities should provide them with a pricing advantage as environmental, social and governance (ESG) considerations are increasingly integrated into the insurance sector. The firm believes that climate change presents both significant opportunities and risks for the non-life insurance industry, although it says many ... Read the full article
Eos to integrate ESG factors into investment decisions
29th November 2021
Eos Venture Partners (Eos), the venture capital fund focused exclusively on the insurtech sector, has committed to integrating environmental, social, and governance (ESG) factors, including closing the protection gap, into its investment decisions. Eos Partner Sam Evans says the global pandemic has highlighted the importance of resilience and the need to ... Read the full article
TISE lists first humanitarian cat bond
29th November 2021
The International Stock Exchange (TISE) has listed the world's first humanitarian catastrophe bond, which covers pure volcanic eruption. The bond was issued by Dunant Re IC, an Incorporated Cell of Replexus ICC (Guernsey), and has been listed on TISE's Qualified Investor Bond Market (QIBM) and admission to its sustainable market segment, TISE ... Read the full article
Brit’s Ki enters into $130m Sustainability Linked Funds at Lloyd’s LOC
29th November 2021
Ki, the fully digital and algorithmically-driven Lloyd’s syndicate launched by Brit in collaboration with Google Cloud, has entered into a $130 million Sustainability Linked Funds at Lloyd's Letter of Credit Agreement. Ki entered into the facility with its banking partners Barclays Bank plc, Sumitomo Mitsui Banking Corporation, and NatWest Bank plc. Led ... Read the full article
AM Best to add ESG section to all Credit Reports
23rd November 2021
Rating agency AM Best has announced the addition of an environmental, social and governance (ESG) section to its Credit Reports under Enterprise Risk Management. With insurance industry stakeholders increasingly seeking information about the impact of these risks, AM Best believes that the addition of an ESG section to its reports will ... Read the full article
Global liability premiums will grow by 4.7% each year: Swiss Re
2nd November 2021
Global reinsurance giant Swiss Re has released a new report which forecasts that global liability premiums will grow by 4.7% on average each year up until 2040. This is expected to reach USD 583 billion and account for 13% of all Property & Casualty business (P&C). The repost noted that this will ... Read the full article
US insurers must adapt to changing ESG demands: AM Best
2nd November 2021
Six in 10 US insurance companies agree that demand from stakeholders to explicitly consider environmental, social and governance (ESG) factors in their decision-making is growing, according to a new survey by AM Best. Compared with Europe, the US insurance industry is still considered to be in the nascent stages of ESG ... Read the full article
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