“There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment during a 30-minute chat with S&P Global Ratings …
Executive summary: Fitch Ratings is projecting reinsurer returns on equity of 14% in 2023 and 2024, results that reflect a reinsurance environment that has effectively returned to the pre-soft market state of providing capital protection rather than earnings protection for …
This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), Trans Re and CNA Hardy. A summary of these new hires follows here. BHSI Names AIG’s Bidmead as Head of Transactional Liability, Asia and Middle East …
Insurtech Joyn Adds Schoberth as Chief Distribution Officer Insurance technology company Joyn Insurance announced the addition of Uwe Schoberth as chief distribution officer. The role will focus on developing broker relationships. Uwe brings a background in commercial insurance, having held …
TransRe has reorganized its global underwriting structure and promoted key leaders in the areas of Regional Markets, North America, Global Portfolio Management, Europe and Asia Pacific. In addition, it has restructured its casualty/liability and its professional liability teams. Paul McKeon, …
Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from their reinsurers, an industry executive said Thursday. While cedents and reinsurers may often disagree about how the reinsurance contracts apply, …
TransRe President and CEO Mike Sapnar is leaving the company to pursue another opportunity. He’ll stay on the job through April 30 to help with the transition. Ken Brandt, currently TransRe’s co-president of Global Underwriting, will succeed him. A member …
A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed. Insurance claims after such an attack would range …
TransRe has acquired the exclusive renewal quotation rights to all of Maiden Reinsurance North America’s U.S. treaty customers from their diversified business. TransRe has also hired the U.S. treaty team from Maiden Re. TransRe said it will immediately offer renewal …
XL Catlin’s venture fund, XL Innovate, committed $4 million in first-round financing to Stonestep, a property/casualty insurtech startup looking to streamline how microinsurance is sold in emerging markets. The Series A funding is designed to help Stonestep grow in the …
