Financial

Gallagher, the international insurance and reinsurance broking brand of Arthur J. Gallagher & Co., has appointed Simon Behagg to become Chief Executive Officer (CEO) of reinsurance, as Rupert Swallow gets set to depart. Behagg will become CEO of the Gallagher Re business from February 2021, taking over the role from current CEO, Rupert Swallow, subject…

CCR Re, the French state-owned reinsurance firm, has renewed its 157 Re collateralised reinsurance sidecar vehicle for 2021 at an unspecified size. It’s the third annual issuance of the 157 Re reinsurance sidecar from CCR Re, which remains the first and only insurance-linked securities (ILS) vehicle to be governed by French law. For the first…

After Friday’s ruling from the UK Supreme Court found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals, insurance carriers RSA Group and QBE, have said that at least a portion of the increase in gross pandemic losses due to the ruling are likely to be…

Global reinsurance company Hannover Re has facilitated more private catastrophe bond transactions around this Janaury 2021 renewals, with the firms Kaith Re transformer having issued $76.4 million of Seaside Re cat bond lite notes, across seven transactions. These are the first Seaside Re private cat bond issuances to come to light in a year and…

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered global reinsurer that is majority backed by Fosun International, has renewed its collateralised reinsurance sidecar vehicle Lion Rock Re Ltd. for the third year in succession. At this stage, we’re not sure about the total size of Peak Re’s reinsurance sidecar renewal for 2021, but…