Bermuda
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Martello Re will initially provide MassMutual with reinsurance capacity before opening up to other parties.
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In addition, Fortitude Re’s subsidiary Fortitude Reinsurance Company has obtained approval to operate as a reciprocal jurisdiction reinsurer in the US.
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Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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Former Navigators CEO Vince Tizzio has joined as a senior adviser and will transition into the CEO role on June 1.
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Both gross and net exposures increased in the pandemic year, but net PMLs rose faster, a modelling report from the BMA shows.
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Juan Andrade’s employment agreement has been extended through the end of 2023, with automatic annual extensions following this term.
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The hire reunites Rene Lamer with fellow Sompo alumnus Stephen Young.
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Based in Zurich, Jörg Bruniecki will take up his new role in 2022, reporting to MS Amlin AG CUO Charles Goldie.
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Liz Cunningham, Watford’s chief risk officer, has been named its new CEO, as the company said that ratings agency AM Best had affirmed the outlook on its A- FSR to "stable".
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Brid Reynolds will be responsible for the oversight and development of risk functions globally.
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The broking group has hired Sussex Capital’s Adam Champion and investment banker Niall Baird for the new venture.
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The underwriter’s exit comes after the reinsurer added Jill Beggs from Munich Re last week, and promoted Peter Bell to be its new CEO in Bermuda in July.
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