News relating to the Bermuda and international insurance and reinsurance industry.
Lightsource bp, a developer and manager of solar energy projects, has secured a proxy generation power purchase agreement (pgPPA) with the capital solutions unit of Allianz Global Corporate & Specialty (AGCS), in partnership with Nephila Climate.
Gallagher Re has partnered with Arch Mortgage Insurance Company (Arch MI) to raise and place traditional reinsurance capacity for Bellemeade Re 2020-4, a special purpose reinsurer.
MS Amlin Insurance SE (MS AISE) has named Herbert Baeten as chief underwriting officer (CUO) for its property and casualty business lines, following the retirement of Rudy Benmeridja.
Markel Corporation has hired Tom Williams as environmental product line leader for the specialty division.
Arch Insurance has entered the consumer product and home warranty markets.
Global losses from natural disasters in 2020 amounted to $210 billion, of which some $82 billion was insured, according to Munich Re.
The Association of Bermuda Insurers and Reinsurers (ABIR) has elected Marc Grandisson as chair and Pina Albo as deputy chair in its biennial election of officers for 2021-2022.
Markel has hired Trevor Gandy as managing director for talent, diversity and inclusion.
AXA XL has promoted Jason Mandik to head of the Chicago-based US risk management team in the US central zone.
Brady Head has joined Berkshire Hathaway Specialty Insurance (BHSI) as senior vice president and product line officer for D&O liability insurance in North America.