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UK pensions, actuarial and investment advisory firm Lane Clark & ​​Peacock (LCP) reports that intense competition among insurers has driven buy-in pricing for UK defined benefit pension schemes to record levels, according to its latest pensions risk transfer market update. LCP attributed this development to insurers’ capacity remaining at historically high levels, currently exceeding short-term…
Pacific Life Re, a provider of life and health reinsurance solutions, has announced the appointment of Florence Durousseau as Head of European Capital Solutions. This strategic hire strengthens Pacific Life Re’s ability to provide insurance companies with solutions designed to improve capital efficiency, reduce balance sheet volatility and achieve sustainable growth. Michelle Moloney, Executive Vice…
Guy Carpenter, the reinsurance brokerage arm of Marsh, has appointed Rowan Minhas to its emerging risk solutions team, where he will focus on parametric reinsurance. Minhas joins Guy Carpenter after nearly four years at Miller Insurance Services LLP, where he most recently served as an Account Processor/Broker in the firm’s Parametric Solutions team. While at…
Pinpoint UK Solutions Ltd, part of AM Specialty Insurance Group (ASIG), has been authorized by the Financial Conduct Authority (FCA) to operate in the UK market as a direct authorized company. The authorization is an important milestone and is in line with ASIG’s long-term growth plans to develop Pinpoint UK, further supporting its ambition to…
A new report from the International Insurance Association (IUA), the representative body for insurance and reinsurers operating in the London market, urges the establishment of clear protocols related to the business interruption (BI) claims review process to benefit the cyber insurance market. The agency explained that these claims often occur in complex situations where tower…
Analysts at Jefferies said it would likely take a major loss event of more than $100 billion to significantly change reinsurance market conditions, following a 15-20% drop in real estate catastrophe pricing at renewal time in June. Early forecasts suggest this year’s hurricane season will be below average as El Niño reduces storm activity and…
Willis Re, the reinsurance advisory and broking joint venture between Bain Capital (BCIS) and WTW, has hired Guy Carpenter’s John Fletcher as chief executive officer (CEO) of its Bermuda platform, effective immediately. Fletcher has over 35 years of reinsurance and retrocession experience and is considered the island’s most experienced practitioner. Most recently, he served as…
Berkshire Hathaway Specialty Insurance (BHSI), the commercial insurance arm of Berkshire Hathaway, has promoted Ben Wyatt to head of North America and UK marine, effective immediately. BHSI has expanded Wyatt’s leadership responsibilities outside the United States to include overseeing its maritime operations in the United Kingdom and Canada. In his new role, Wyatt will drive…
Global brokerage Brokerslink has strengthened its expertise in Latin America with the appointment of Brazilian broker Fidentia Corretora de Seguros as a new specialist affiliate within its international network. The São Paulo-based company was founded in 2019 and is currently managed by Executive Director Felipe Pereira. It focuses on solutions for clinical research and research-related…
Global insurance brokerage, risk management and advisory firm Gallagher has announced five new appointments to its European Private Equity and M&A (PEMA) business, including Giulio Greco as chief brokerage officer for the PEMA business in Europe, the Middle East and Africa. In this newly created role, Greco will lead and develop the brokerage strategy for…