News relating to the Bermuda and international insurance and reinsurance industry.
Aon has agreed to pay a termination fee of $1 billion to Willis Towers Watson.
He spent more than 25 years at the Bermudian reinsurer holding various leadership positions.
The executive has formerly worked at Sompo International, Endurance and AXIS Capital.
AXA XL Insurance has expanded its underwriting capabilities in Germany with a new lead underwriter for political risk, credit and bond (PRCB).
Kevin O’Donnell, president and chief executive officer at RenaissanceRe, hailed a “solid quarter” for the business in the second quarter of 2021 in which the re/insurer drove up gross written premiums (GWP) in both its property and casualty and specialty segments.
Global natural disaster events during the first half of 2021 caused around $93 billion in total economic losses, down 32 percent on the 10-year average of $136 billion, according to Aon’s Global Catastrophe Recap: First Half of 2021 report.
Chubb has named a new head of property and casualty (P&C) for its general insurance operations in Latin America.
Bronek Masojada will retire from his role as chief executive officer (CEO) of Hiscox at the end of 2021.
PartnerRe has adopted iPipeline’s SSG Digital Platform to grow its global protection portfolio, marking the fintech’s first platform integration with a reinsurer.
The Association of Bermuda Insurers and Reinsurers (ABIR) has hired a new intern.