Reinsurers

Acrisure Re has recruited Willis Re executive vice president and 20-year veteran Paul Sperrazza as the employee-owned broker expands its presence in the Midwestern reinsurance market, according to a spokesperson for the intermediary.

The appointment follows the hire of MS Amlin reinsurance underwriter Dominic Peters as CUO.

Cyber specialist Seb Plummer will lead the operation.

The report also found that reinsurance capital increased by 7% to $658bn.

Plus an update on the airline insurance market and all the top news from the week.

The executive says the carrier made strides last year in its underwriting and is well positioned for growth.

CEO Johan Slabbert says the US specialty market offers a chance to balance out the volatility of catastrophe risk.

The move is to encourage more people to return to the underwriting room and reduce boundaries of entry.

Covid-19 losses materially impact the property market, but the marine, aviation and transport segment returns to profit.

The new recruit, a former senior Liberty Mutual executive, put his insurance start-up plans on ice last November.

Willis Re data on Florida participants’ deteriorating CoRs and solvency highlights the challenges to be faced at this year’s 1 June renewal.

The Week in 90 Seconds: Biometric data and cyber; Greensill collapse; Guy Carpenter’s Priebe on pandemic risk; Texas storm; Marsh McLennan’s Glaser