Financial

Universal Insurance Holdings, the Florida headquartered, nationally expansive primary insurance carrier, has announced the hiring of Jason Burns as the new President of its reinsurance intermediary Blue Atlantic. Burns joins Universal Insurance Holdings from his most position at Chubb Tempest Re where he has worked for over fourteen years. Blue Atlantic Reinsurance Corporation is Universal’s…

Oneglobal Broking, the commercial insurance and reinsurance brokerage owned by investor JC Flowers, has opened its first Bermuda broking office and announced two key hires. Having now received regulatory approval for the opening of its Bermuda office, OneGlobal has announced the hiring of Craig Douglas (most recently at RFIB), named Executive Director, Oneglobal Bermuda, who…

A European Commission study looking at the insurability of nuclear third-party liability risks (NTPL) and availability of capacity to support them, found that insurance-linked securities (ILS) market sources say capital would be available, under the right structures and terms. The European Commission study on nuclear third-party liability risks was undertaken during 2018-19 and one important…

Flood risk insurtech company FloodFlash, which offers an innovative sensor-based approach to support parametric flood insurance triggers, has beaten its own record on rapid claims payment, paying out to one policyholder within ten hours for the impacts of flooding during UK storm Christoph. FloodFlash highlighted its new catastrophe claims payout record today, saying that the…

The industry sees a high chance that in order for Aon’s acquisition of rival Willis Towers Watson to go ahead, divestment will be required and a sale of reinsurance broking unit Willis Re is seen as a likely outcome. Our sister publication Reinsurance News polled its readers and 73% of the industry participants that responded…