2 CATCo Executives Sue Markel Over Firing; Claim They Are Owed $77 Million

Article 0 Comments Two fired executives of Markel’s Bermuda reinsurance operations are suing Markel claiming the company created a false narrative alleging they violated corporate policy by having a personal relationship in order to escape having to pay them bonuses worth millions of dollars. The fired executives, Anthony Belisle, Markel […]

Ed Appoints Willis Towers Watson’s Skaanild to Professional & Executive Risk Team

Article 0 Comments Ed, the London-based reinsurance, wholesale and specialty broker, announced the appointment of Laura Skaanild as client director, Professional and Executive Risk. She will report to Paul Richards, managing director of Professional and Executive Risk. Skaanild will focus on managing and developing Ed’s client base in the financial […]

Sirius Group Appoints Oberting as CEO, Salamone as CFO

Article 0 Comments Sirius International Insurance Group, Ltd., the Bermuda-based multi-line insurance and reinsurance group, announced its board of directors has elected Kernan (Kip) V. Oberting to succeed Allan L. Waters as chief executive officer of Sirius Group. Oberting will be succeeded as chief financial officer by Ralph A. Salamone. […]

Specialist Re/Insurance Broker THB’s Completes Leadership Transition for Europe Division

Article 0 Comments THB, the London-based specialist insurance and reinsurance broker, confirms the completion of its THB Europe leadership transition. Joaquim Caria retires today as managing director of THB Europe, which was first announced in July 2018, when the company revealed he would be succeeded by Ricardo Borges after a […]

Guy Carpenter Forms New Division, Makes Post-JLT Merger Leadership Appointments

Article 0 Comments Reinsurance broker Guy Carpenter & Co. announced the formation of a new Global Capital Solutions Group as well as a series of leadership appointments that will become effective upon the closing of the acquisition of Jardine Lloyd Thompson Group plc. by Carpenter’s parent, Marsh & McLennan Cos. […]

Greenlight Re Invests Further in Chicago’s AccuRisk Solutions

Article 0 Comments Greenlight Capital Re Ltd. (Greenlight), a specialist property and casualty reinsurance company headquartered in the Cayman Islands, announced it is again investing in the Chicago-based managing general underwriter (MGU) AccuRisk Solutions LLC (AccuRisk). Greenlight Re made an initial investment in AccuRisk in 2017. With the new investment, […]

Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon

Article 0 Comments Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of $230 billion over the two-year period, according to a report published by Aon’s […]

January Renewals Show Higher Prices for Clients with Poor Loss Records: Willis Re

Article 0 Comments Reinsurance placements at Jan. 1, 2019 highlight a pricing gap between accounts with peak peril exposures, or poor loss records, and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View renewals report from Willis Re. A two-track […]

Reinsurance Prices Drop – Despite 2018’s Big Natural Catastrophe Losses: JLT Re

Article 0 Comments JLT Re’s global property-catastrophe reinsurance index fell 1.2 percent in Jan. 1 policy renewals, the broker said on Wednesday, dashing the industry’s hopes of higher reinsurance premiums after a second straight year of big losses. Reinsurance prices, chiefly set in two batches at the beginning of January […]

China Re Completes Purchase of Chaucer Holdings from Hanover Insurance

Article 0 Comments China Reinsurance (Group) Corp. announced it has completed the 100 percent equity acquisition of Chaucer Holdings Ltd. — the major portion of Hanover Insurance Group’s Lloyd’s international specialty business. The acquisition of Chaucer Insurance Co. DAC (Chaucer Dublin) and Hanover Australia Hold Co. Pty Ltd (SLE) remain […]