TransRe
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The company also encouraged insurers and brokers to support the initiative. -
The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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Andy Taylor will also retire after over 25 years with the company.
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Civil case, nuclear verdict and claims count data show worrying trends.
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The promotions will help TransRe strengthens its cyber focus.
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This publication recently noted that ongoing rate declines and questions about past accident years are leading to calls for D&O price discipline.
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As part of a number of senior role changes, the reinsurer promoted Ben Hodge to the role of head of US property, treaty and facultative.
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Sources said the executive, who has over two decades of experience in the (re)insurance sector, will take a position at regional intermediary Reasinter.
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Industry veteran Paul Bonny will continue to offer advice to the company through his ongoing role as non-executive director.
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The companies will likely “benefit from the vast financial resources and financial flexibility,” the agency said after the completion of the merger deal with Berkshire Hathaway.
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In tandem, the reinsurer elevated Stephanie Danbrowney to take over Crutchley’s previous role as head of US facultative casualty.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The firm's ethos will remain the same, but the bigger balance sheet may help it win clients and absorb volatility.
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As part of senior role changes, TransRe has also promoted Brian Gallahue to the role of deputy CFO.
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The executive will lead the team for global product strategies, financial planning and applied data, reporting to CEO Brandt.
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Adriana Cisneros was AIG’s LatAm property product leader for more than three years in south Florida.
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The outgoing underwriter has worked at the Bermudian for just over six years, having joined from Hiscox.
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The transaction will create a reinsurance entity roughly on a par with Scor in terms of net reinsurance premium.
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Berkshire Hathaway has agreed to buy the TransRe owner in an all-cash deal worth $11.6bn.
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The deal’s exposures are focused in the troubled personal auto market where loss costs have been running ahead of rates.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The overall combined ratio for (re)insurance operations narrowed by 9.9 points to 89%, driven by lower cat losses.
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In a letter to shareholders, the CEO said underpriced property risks are mostly in the reinsurance industry.
