NewsProxy advisers question independence of Hannover Re supervisory boardProxy adviser Institutional Shareholder Services has recommended that investors vote against the re-election of Hannover Re’s supervisory board chairman Torsten Leue at the reinsurer’s upcoming annual general meeting.Mon 22 Apr 2024
NewsPeople MovesScor shuffles Song to China P&C headScor has appointed China reinsurance CUO Lily Song as head of P&C for China.Mon 22 Apr 2024
NewsPeople MovesFidelis Partnership names Howden Re’s Somerville to lead ceded reinsuranceFidelis Partnership – the recently rebranded MGU business of Fidelis Insurance Holdings – has appointed Douglas Somerville as head of capacity and ceded reinsurance.Mon 22 Apr 2024
NewsEarthquakeNoto Peninsula earthquake payouts rise above $480mn: GIAJThe General Insurance Association of Japan (GIAJ) has revealed that it has paid out ¥74.44bn ($481.03mn) of claims related to the earthquake that hit the Noto Peninsula on New Year’s Day.Mon 22 Apr 2024
TV Close QuarterProgramRyan Specialty National Programs: Finding success by identifying and serving niche industries“Our model really is to find niche expertise in our industry classes and build products around that expertise and offer multi-line solutions for our segments,” Ryan Specialty National Programs’ co-president Bill Evans has told The Insurer TV.Mon 22 Apr 2024
NewsCyberZywave panel: Cyber ILS has “mainstream” potential in medium termPanellists at a Zywave event last week were bullish on the growth potential of cyber ILS, with GC Securities senior vice president Carlo Magnani highlighting the unsustainability of the existing capacity model in light of the cyber market’s underlying trajectory.Mon 22 Apr 2024
NewsPersonal autoIndigo working to grow cat program as it eyes further expansionCaribbean-focused digital insurer Indigo is in the latter stages of finalising its 1 May renewing reinsurance program, with the expansive Brian Williams-led personal lines carrier pushing to secure additional support to maintain its growth trajectory.Mon 22 Apr 2024
NewsProperty catastropheRT Specialty: commercial property begins to stabilise amid ‘uneven’ E&S experienceThe commercial property market has entered a period of stabilisation, but with varied experience across industry classes and geographies, according to RT Specialty.Mon 22 Apr 2024
NewsCyberKYND appoints Cowbell’s Singh as head of cyberUK-based cyber insurtech KYND has appointed former Cowbell executive Manu Singh as head of cyber.Mon 22 Apr 2024
NewsPetChubb targets pet insurance expansion after inking deal for Aon’s Healthy PawsChubb has set its sights on expanding in the fast-growing pet insurance market after agreeing a deal to acquire MGA Healthy Paws from Aon.Mon 22 Apr 2024
NewsPeople MovesApplied’s United Risk adds Cahill from Awbury as CFOUnited Risk has added to its management team with the hire of Jay Cahill as chief financial officer, with the recruit moving to the Applied Underwriters-owned MGA platform from Awbury Insurance.Mon 22 Apr 2024
NewsRating actionsAM Best puts GeoVera ratings under review following MGA and carrier sale agreementAM Best has placed the A financial strength rating and “a” long-term issuer credit ratings of the members of GeoVera Insurance Group under review with developing implications after the firm entered into a definitive agreement to sell its MGA business and insurance carriers.Mon 22 Apr 2024
NewsM&AMNK Group targets LatAM growth with Oceánica acquisitionMNK Group, the ultimate owner of specialist Lloyd’s broker MNK Re, has acquired Oceánica de Seguros, an insurer based in San José, Costa Rica.Mon 22 Apr 2024
NewsRating actionsAM Best upgrades London market outlook to positiveAM Best has upgraded its outlook for the London market insurance segment to positive from stable, underpinned by positive momentum in US E&S lines.Mon 22 Apr 2024
NewsShare priceRoot stock down 38% from recent peak, Hippo off by around 18%Shares in Root have traded down around 38 percent from their peak following the February release of its fourth quarter earnings, while shares in Hippo have slid by 18 percent.Mon 22 Apr 2024
NewsPeople MovesAon promotes Griffin to North America industry practice leaderAon has promoted former North America chief commercial officer John Griffin to the role of industry practice leader for the region.Mon 22 Apr 2024