News relating to the Bermuda and international insurance and reinsurance industry.
Legal & General Re has named a new chief executive officer (CEO) to replace Thomas Olunloyo, L&G Re’s CEO since 2017 who is relocating to the US to join Legal & General America (LGA) as executive vice president and deputy CEO.
Predictions for the number of hurricanes this year range from 13 to 20.
Supercede claims it will transform the way carriers prepare reinsurance submissions.
Reinsurance rates-on-line accelerated by 5-10 percent on average at June 1.
It also downgraded AXA Singapore due to its diminishing strategy importance to AXA.
Private US property/casualty insurers’ net income fell 2.9% to $60.1 billion in 2020.
Randall & Quilter Investment Holdings (R&Q), the non-life global speciality insurance company focused on programme management and legacy insurance businesses, has completed the novation of four loss portfolio transfer (LPT) agreements.
He said he wanted to contribute to Tremor Technologies’ growth acceleration.
The tech firm has also raised $100m from investors including Liberty Mutual and Starr Insurance.
The specialist in risk-linked investments has also promoted from within.