French reinsurer SCOR has announced the appointment of Robert MacKenzie as Head of Life and Health (L&H) Canada, succeeding François Bernard, who is leaving to pursue other opportunities. MacKenzie is well-prepared for the role, bringing strong technical expertise and deep knowledge of the Canadian L&H market. He has been with SCOR for seven years, most […]
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Progressive’s Property business recognises favorable development of $110m in August
Property and auto-focused insurance group Progressive’s property business recognised favourable development of around $110 million in the month of August, with just over 60% relating to the May storms. If you recall, in June, the US primary insurer announced net catastrophe losses of $722.1 million for the month of May, which resulted in a reinsurance […]
Venbrook establishes new West Coast office, appoints Christina Oakes as EVP
Venbrook Group, LLC, an independent insurance distribution and services firms in the US, has expanded its Private Risk Practice with the opening of a new West Coast office, and has appointed Christina Oakes as Executive Vice President of the division, based in Los Angeles. In her new role, Oakes is responsible for building the practice and […]
CelsiusPro and Tower launch IT platform for parametric cover in the Pacific
Parametric insurtech CelsiusPro and Tower, a New Zealand and Pacific insurer, have successfully launched the previously announced IT platform for parametric insurance distribution for Tower, beginning with its Cyclone Response Cover in the Pacific Island countries of Fiji and Tonga. The product provides policyholders with rapid cash payouts when their home, business, or other insured […]
Berkshire (BHSI) announces key leadership changes in Canada
Berkshire Hathaway Specialty Insurance (BHSI), a division of Berkshire Hathaway, specialising in providing a range of insurance and reinsurance products, has announced the appointment of Andrew Knight as Country Manager, Amanda Sorsak as Head of Claims, and Paul Emerson as Head of Customer & Broker Engagement for its operations in Canada. “BHSI has achieved excellent […]
Juniper Re appoints Russ Wagner to spearhead launch into facultative reinsurance
Juniper Re, LLC, the reinsurance broking arm of The Baldwin Group, has named Russ Wagner as Head of Facultative as it is set to enhance its ability to meet clients’ needs in the evolving market. In the role, Wagner will spearhead Juniper Re’s strategic entry into the facultative reinsurance space, marking a significant milestone for […]
Robin Cooper-Driver & Edward Rayfield join Zurich’s APAC Commercial Insurance unit
Zurich Insurance Company has announced two key appointments to its Asia Pacific (APAC) Commercial Insurance business, with Robin Cooper-Driver as new Head of Financial Lines, Asia Pacific, and Edward Rayfield as Head of Casualty, Asia Pacific. Both will be based in Singapore and will report to Liam Burrell, CEO Singapore & Head of Commercial Insurance, […]
Cyber re/insurance market can only grow at the pace of capacity: SCOR’s CEO
Despite noting the “almost limitless” potential of the cyber re/insurance market, SCOR’s CEO, Thierry Léger, has observed that it can only grow at the pace of capacity, meaning it will chiefly be an opportunity for the next few decades, rather than the next few years. Discussing cyber risk at the 66th Rendez-Vous de Septembre (RVS) […]
Social inflation drives US liability claims to reach annual peak of 7% in 2023: Swiss Re
Social inflation has become the main growth driver of US liability claims, with a rising number of large court verdicts pushing claims in the US to increase by 57% in the past decade, ultimately causing them to peak at 7% in 2023, the first time seen in two decades, according to Swiss Re Institute. With […]
Cyber demand met by significant reinsurance supply: Co-Heads of Cyber, Guy Carpenter
During Guy Carpenter’s virtual media briefing, the firm’s Global Co-Heads of Cyber discussed the growing demand for cyber reinsurance, which has been met with ample supply in the reinsurance markets. Erica Davis, Global Co-Head of Cyber at Guy Carpenter, commented on the changing appetite for cyber reinsurance: “We are finding our clients have an enhanced […]