Reinsurance News

In the wake of Tom Johansmeyer, the former Head of Verisk unit PCS, joining the Ardonagh Group reinsurance broking division Inver Re in Bermuda, the company has now launched an integrated global index practice and sees an advantage in leveraging his experience in ILW’s.

If the insurance and reinsurance industry is to truly narrow and ultimately close protection gaps, the upsurge in demand for cover that would result from this means the capital markets have a key role to play, Christian Mumenthaler, the CEO of global reinsurer Swiss Re told us recently.

As the Chapter 11 bankruptcy case involving insurtech Vesttoo rolls on, the court has filed a now fourth interim order to enforce the automatic stay against Aon’s White Rock Insurance (SAC) Ltd. and the Joint Provisional Liquidators for the White Rock cells, while it’s also agreed that no legal discovery will be undertaken in the […]

Munich Re Trading, the division of the global reinsurance firm focused on providing weather and commodity solutions, including derivatives, index and parametric risk transfer, has hired a senior executive from Arbol, as John Coleman joins it to lead origination for agriculture opportunities in North America.

The African Risk Capacity (ARC) has designed a parametric risk transfer solution that will be integrated with a World Bank designed social protection program for Malawi, to provide emergency financing in response to drought conditions in the country.

In a statement released by the beleaguered insurtech, Vesttoo notes that some of the creditors to its bankruptcy are questioning the independence of the initial investigation, which it only notes “has been commenced”, suggesting it is not yet over and there will be more information to come.

Parametric insurance and data-driven risk transfer specialist managing general agency (MGA) Descartes Underwriting has announced the hiring of Ola Jacob as its new UK & Ireland Business Development Director.

Rating agency AM Best has cited higher reinsurance costs, higher reinsurance retention levels, elevated natural catastrophe and secondary peril costs, as well as rising loss costs, inflation, and supply chain disruptions as reasons it has turned its outlook to negative on the US homeowners insurance sector.

The delta between pricing in insurance-linked securities (ILS) and traditional property catastrophe reinsurance is providing “a clear signal” to the market and provides further competition for peak risks, Aon’s Reinsurance Solutions has said.

Under-fire Israeli insurtech Vesttoo, which is at the heart of a letter of credit (LOC) fraud scandal, is now claiming hundreds of millions of dollars back from its two ousted co-founders, as well as persons that worked to source investors, that also have been named as accomplices in the fraud scheme.