Insurance

Praveen Reddy has been promoted to Chief Operating Officer of Velocity Risk Underwriters LLC, the managing general agency (MGA) operation of reinsurance, catastrophe, climate and weather risk-linked investment manager Nephila Capital. Reddy had joined Velocity Risk Underwriters in its launch phase around the middle of 2015 and has played a significant role in helping the…

Hamilton Re, the reinsurance focused operations of Hamilton Insurance Group, has announced that its CEO Kathleen Reardon is to depart the company and that Chairman David Brown will step in as interim CEO for the reinsurer. Reardon became the CEO of Hamilton Re back in 2014, having previously been a founding member of the firms…

Rom Aviv, a former senior employee of insurance-linked securities (ILS ) fund manager Twelve Capital and Israeli investors IBI ILS Partners, is leading insurance for Agritask, an ag-tech and agronomics focused start-up, while Daniel Stander of RMS fame has joined the firm as a senior advisor. Aviv joined Agritask earlier this year, helping the company…

Broker Aon has announced the hire of Catherine Turner from AXA XL to its Reinsurance Solutions division, where she will take on the role of Head of UK Property. Turner will also become co-leader of the Aon Reinsurance Solutions UK & Ireland and Specialty Casualty business, alongside Richard Evans. Turner joins Aon Reinsurance Solutions with…

During its earnings call this morning, senior executives from specialist insurance and reinsurance underwriter Hiscox Group warned that the eventual findings of the UK Financial Conduct Authority’s (FCA) business interruption test case could drive additional Covid-19 losses to its reinsurance book. In addition, the company also said that it has exposure to some business interruption…

Hiscox Re & ILS, the reinsurance and insurance-linked securities (ILS) arm of the global specialty re/insurer, has announced the impending departure of its CEO Mike Krefta, who is leaving the firm to pursue opportunities outside the sector. Krefta has been Chief Executive Officer (CEO) of Hiscox Re & ILS since December 2016. He has worked…

Guy Carpenter, the global reinsurance broking unit of Marsh & McLennan Companies, has promoted some of its senior leadership to new roles, with Neil Mayer becoming COO and Lara Mowery taking a new position as Global Head of Distribution. Both Mayer and Mowery have been named to the Guy Carpenter Executive Committee, along with current…

Hiscox Group, the specialist insurance or reinsurance underwriter and ILS capital manager, has reported a shrinkage in its deployable insurance-linked securities (ILS) capital and a reduction in its appetite for catastrophe risks, as it keeps its powder dry for future opportunities. The company said it is remaining disciplined in its Hiscox Re & ILS unit,…