Your weekly re/insurance round-up, ending September 22nd 2023

This week,?R&Q confirmed it is in advanced talks over the sale of its Accredited business to Onex, while the Dubai International Financial Centre said it continues to attract new re/insurers and is on track for 20% annual growth.

Rating agency AM Best turned negative on the US homeowners segment, adding that a return to underwriting profit in 2023 is?unlikely.

Meanwhile,?Lloyd’s unveiled a UNCDF & Insurance Task Force partnership, and?Allstate estimated cat losses for August of $641m,?of which half were related to the Maui wildfire.

In other developments,?Inver Re launched a global index practice?to be led by Tom Johansmeyer, while CCR Re Deputy CEO, Laurent Montador, said the firm's acquisition by a consortium comprised of SMABTP and MACSF earlier this year is a positive for all parties.

Meanwhile, Patrick Tiernan, Chief of Markets at Lloyd’s, said the market may expand its list of the five main peak perils it considers in natural catastrophe exposure management, to include some of the so-called secondary perils.

Turning to people moves,?Everest hired SCOR’s Clement Demetz as Reinsurance CFO, while?Descartes Underwriting named?Ola Jacob to the role of UK & Ireland Business Development Director.

Kelly Beaudoin is set to lead AXIS Capital's Partnership Office, and?Aon?has appointed Nicola Fraccalvieri as Reinsurance Solutions Leader of EMEA Fac.

Elsewhere,?Miller expanded its reinsurance offering with a new APAC treaty team, and?MS Amlin named Jessie Burrows as its new CFO.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!