Reinsurance News
RSA
Intact and RSA to exit from UK Personal Lines motor market
29th March 2023
Intact Financial Corporation and its subsidiary RSA have announced the company’s exit from the UK Personal Lines motor market, an initiative that, according to the company, is aimed at improving the strength and sustainability of the UK & International business. RSA’s UK Personal Lines motor represents approximately £120 million of annual ... Read the full article
Intact, RSA & PIC announce record £6.5bn UK pension buy-in
27th February 2023
Intact Financial Corporation has announced that the RSA UK Pension Trustees have entered into an agreement with Pension Insurance Corporation (PIC) for Bulk Purchase Annuities with respect to £6.5 billion of RSA UK pension plan liabilities. According to Intact, the buy-ins fully insure the defined benefit liabilities of the Royal Insurance ... Read the full article
RSA makes new additions to UK Specialty Lines Cyber Underwriting team
16th February 2023
General insurance company, RSA Insurance has announced the appointment of Henry Westwood as Senior Specialist Underwriter in its UK Specialty Lines cyber business. Westwood is to start his new role on May 15; he will be responsible for leading the insurer’s stand alone cyber underwriting practice in the UK. He joins RSA ... Read the full article
RSA makes senior additions to CIO leadership team
19th January 2023
RSA Insurance has announced the additions of Sally Ng and Katie Hermans to it CIO leadership team as Specialty & Commercial Delivery Director and as Head of Technology Risk Management, respectively. Ng will be responsible for driving the technology transformation roadmap for RSA Commercial Lines, Specialty Lines and European businesses. She brings ... Read the full article
RSA adds two new members to UK Specialty Lines A&H
13th December 2022
RSA Insurance, a British multinational general insurance company, has announced two new appointments to its UK Specialty Lines Accident & Health (A&H) business. Laura Fox joins the business as Regional Underwriting Manager and will start her new role on 19 December 2022. Forhad Alam was appointed Specialist Underwriter, effective January 2023. Fox ... Read the full article
RSA to launch new low-carbon underwriting policy
5th December 2022
British insurance company, RSA, has announced the launch of a new low-carbon underwriting policy and a commitment to achieving an underwriting portfolio for energy production that is over 75% low carbon by 2030. This move promises to help enable and foster the transition to Net-Zero through the provision of products and ... Read the full article
Global reinsurers driving premium growth so far in 2022: Gallagher Re
30th November 2022
Premium growth in the first nine months of 2022 has been driven by global reinsurers, says reinsurance broker Gallagher Re in a new analysis. The firm said that the (re)insurers it tracked reported YOY premium growth of 13% by Q3, but the strongest increases came from global reinsurers and reached 18.2%. It ... Read the full article
RSA names two new Strategic Account Directors in Commercial Lines
22nd November 2022
RSA Insurance has announced that Marjorie Adejumo and Laura Fox have been appointed as Strategic Account Directors in its UK commercial lines business. Adejumo and Fox will be responsible for leading several of RSA’s strategic broker relationships, both are based in London and will report to Alex Hardy, Sales & Distribution ... Read the full article
COP27: Covea, Hiscox & RSA commit to Flood Re’s Build Back Better scheme
14th November 2022
Andy Bord, Flood Re’s CEO, has announced that leading UK insurers, Covea, Hiscox and RSA, have joined the Build Back Better scheme. Launched by Flood Re back in April this year, the Build Back Better scheme is a joint initiative between the UK insurance industry and the UK Government to ... Read the full article
UK firms at risk of underinsurance amid energy crisis: RSA
13th October 2022
Rising energy prices and economic turmoil are leading to a dramatic shift in the insurance needs of UK companies, according to new research by RSA Insurance. RSA’s inaugural Broker Pulse, a representative survey of more than 200 brokers from across the UK, warns of the risk of underinsurance for businesses in ... Read the full article
RSA and Intact integrate specialty teams
15th November 2021
RSA’s London Market and European specialty lines teams will integrate with Intact’s global specialty team in order to strengthen both brands’ customer offering and standing in the international market. Following Intact’s acquisition of RSA’s UK & International business earlier this year, teams from both firms will develop an integrated global ... Read the full article
Enstar agrees £400m ADC with RSA
28th July 2021
A wholly-owned subsidiary of Enstar Group Limited has signed an agreement with Royal & Sun Alliance Insurance Limited (RSA) to provide adverse development cover (ADC) for certain businesses of RSA and its subsidiaries, in exchange for premium. The ADC will provide £400 million of aggregate cover in excess of a £2.595 ... Read the full article
Tryg and Intact receive regulatory approvals for RSA acquisition
10th May 2021
Intact Financial Corporation and Scandinavian insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. RSA will now need to re-register as a private limited company, and the High Court of Justice in ... Read the full article
RSA UK appoints new Chair after Intact acquisition
29th March 2021
RSA UK & International, a division of RSA Insurance Group plc has announced that Mark Hodges has been appointed to the position of Chair after the completion of Intact’s acquisition. Hodges is former CEO of Aviva’s UK business and member of their Plc Board, and a former CEO of British Gas ... Read the full article
Scott Egan to remain as RSA UK&I CEO following Intact acquisition
5th March 2021
RSA UK & International, a division of RSA Insurance Group plc, will continue to be led by Scott Egan as Chief Executive Officer (CEO) following the completion of the insurer's proposed acquisition by Intact Financial Corporation and Scandinavian insurer Tryg. After finalising a $3.2 billion capital raise ahead of its ... Read the full article
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