TransRe

AM Best Affirms Credit Ratings of Alleghany Corporation and Its Affiliates

Retrieved on: 
Thursday, January 25, 2024
Insurance, Professional Services, Credit, Berkshire Hathaway, ALL, FSR, Long-Term Capital Management, Risk management, Alleghany Corporation, TransRe, Superior, News, AM Best, Security (finance)

In addition, AM Best has affirmed the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IRs) of “a+” (Excellent) of Alleghany Corporation (Alleghany) and Transatlantic Holdings, Inc.

Key Points: 
  • In addition, AM Best has affirmed the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IRs) of “a+” (Excellent) of Alleghany Corporation (Alleghany) and Transatlantic Holdings, Inc.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

NFWF and NOAA Announce $144 Million in Grants to Support Coastal Resilience Projects

Retrieved on: 
Wednesday, November 29, 2023
Biophysical environment, Partnership, NOAA, Flood, Environmental protection, Sustainability, Inflation, Environment, Shell USA, Oxy, Congress, Salesforce, TransRe, Climate change, Weather, DOD, Assistant, Investment, Gulf of Mexico, Climate, Shell, Forestry

These grants will support design and implementation of projects to enhance the resilience of coastal communities and improve habitat for fish and wildlife across the U.S.

Key Points: 
  • These grants will support design and implementation of projects to enhance the resilience of coastal communities and improve habitat for fish and wildlife across the U.S.
  • The 109 grants announced today will generate more than $97 million in matching contributions for a total conservation impact of $242 million.
  • The grants were awarded through the National Coastal Resilience Fund (NCRF), a partnership between NFWF , NOAA , the Department of Defense (DOD) , Shell USA , TransRe , SalesForce and Oxy .
  • These grants are in addition to the 27 projects totaling $44.7 million announced in October funded through the Inflation Reduction Act .

Greenlight Capital Re, Ltd. Announces New Chief Executive Officer

Retrieved on: 
Tuesday, November 7, 2023
University of Oxford, Master of Business Administration, Marshall Scholarship, Purdue University, Mathematics, TransRe, Business administration, Columbia University Science Honors Program, University, Management

In connection with Mr. Burton’s impending departure, Greenlight Re announced that Greg Richardson will be appointed as the Company’s new Chief Executive Officer and a member of the Board of Directors, effective as of January 1, 2024.

Key Points: 
  • In connection with Mr. Burton’s impending departure, Greenlight Re announced that Greg Richardson will be appointed as the Company’s new Chief Executive Officer and a member of the Board of Directors, effective as of January 1, 2024.
  • Mr. Richardson previously served as Chief Risk and Strategy Officer at TransRe from 2014 to 2023.
  • Prior to that, he held strategic planning and underwriting roles and served as Chief Underwriting Officer at Harbor Point Re (which merged with Max Re Capital to form Alterra Re) from 2006 to 2013.
  • “Greg’s deep expertise in the industry and experience in a number of underwriting and strategic positions, makes him uniquely suited for the Chief Executive Officer role at Greenlight Re.

NFWF’s National Coastal Resilience Fund Announces $44.7 Million to Support Projects Across the Nation

Retrieved on: 
Thursday, October 5, 2023
Investment, Partnership, National Fish and Wildlife Foundation, Climate change, Inflation Reduction Act of 2022, U.S. Department of Defense Strategy for Operating in Cyberspace, TransRe, NOAA, United States Department of Defense, Shell USA, Oxy, Inflation, Shell, Face, Forestry

The grants announced today will leverage an additional $25.2 million from the grantees, creating a total conservation impact of nearly $70 million.

Key Points: 
  • The grants announced today will leverage an additional $25.2 million from the grantees, creating a total conservation impact of nearly $70 million.
  • These grants will support design and implementation of projects to enhance the resilience of coastal communities and improve habitat for fish and wildlife in states facing increasing impacts to their communities from storms and other coastal hazards.
  • The National Coastal Resilience Fund is a partnership between NFWF , NOAA , the U.S. Department of Defense (DoD), Shell USA , TransRe and Oxy .
  • NFWF launched the National Coastal Resilience Fund in 2018, in partnership with NOAA and joined initially by Shell USA and TransRe.

Obstetrics Safety Leader PeriGen to Collaborate with American Legal Connections as Medical Malpractice Awards Continue to Escalate

Retrieved on: 
Tuesday, September 26, 2023
Insurance, Obstetrics, Malpractice, Incidence, Risk management, Health, Perigenes, ALC, TPA, TransRe, NICU, Nursing

CARY, N.C., Sept. 26, 2023 /PRNewswire/ -- PeriGen Inc., the global leader in AI-powered perinatal care solutions, today announced a collaboration agreement with American Legal Connections (ALC), an affiliation of health systems, legal and insurance firms focused on reducing the incidence and impact of untoward medical outcomes.

Key Points: 
  • CARY, N.C., Sept. 26, 2023 /PRNewswire/ -- PeriGen Inc., the global leader in AI-powered perinatal care solutions, today announced a collaboration agreement with American Legal Connections (ALC), an affiliation of health systems, legal and insurance firms focused on reducing the incidence and impact of untoward medical outcomes.
  • The severity of malpractice awards has climbed steadily in recent years, especially in obstetrics; according to reinsurer TransRe, of the 10 largest medical malpractice verdicts in the first seven months of 2023, five were birth-related, each exceeding $30M.
  • This level of exposure threatens sustainability for this service line and women's health in general across the country.
  • This collaboration will make these analytics more widely available to the ALC membership through specific financial incentives.

TransRe Announces Latest Promotions

Retrieved on: 
Wednesday, August 2, 2023
Insurance, Professional Services, General counsel, Financial risk, TransRe, Central New York Regional Market, Shawn Lynch, CUO, Claims management company, Retirement, Sustainability, Financial risk management, Management, Reinsurance

Following its most recent Board meeting, TransRe has promoted several leaders to new roles.

Key Points: 
  • Following its most recent Board meeting, TransRe has promoted several leaders to new roles.
  • In this new role, John will work closely with our Global Portfolio team and North America managers to enhance our offerings and manage our overall profitability goals.
  • Aisling Jumper assumes the position of Head of Global Underwriting Operations, having previously been the Claims Manager for FAIRCO.
  • James will report jointly to Shawn Lynch and Laurence Butt, CUO of TransRe London.

Best’s Special Report: Increased Capacity, Declining Demand Lead to Softer Pricing for U.S. Directors and Officers Insurance Segment

Retrieved on: 
Tuesday, May 16, 2023
Insurance, Professional Services, Pressure, First Time, AM Best, D&O, ALL, TransRe, Head, Risk, EDT, Public sector, Blade, Officer, News, D

The Best’s Special Report, titled, “US D&O: Increased Capacity, Declining Demand, Lead to Softer Pricing” notes that this came on the heels of higher rates and aggressive pricing increases in 2020 and 2021, which attracted additional capacity, much of it from surplus lines insurers.

Key Points: 
  • The Best’s Special Report, titled, “US D&O: Increased Capacity, Declining Demand, Lead to Softer Pricing” notes that this came on the heels of higher rates and aggressive pricing increases in 2020 and 2021, which attracted additional capacity, much of it from surplus lines insurers.
  • For many years prior, competition had muted the efforts of D&O underwriters to address meaningfully the issues causing results to deteriorate.
  • To register, click here: AM Best’s Briefing – Directors & Officers Sector: Premiums Decrease For the First Time in a Decade .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

AM Best to Host Webinar on Directors & Officers Insurance Market

Retrieved on: 
Tuesday, May 2, 2023
Professional Services, Insurance, Finance, EDT, ESG, System, Head, D, D&O, News, ALL, TransRe

AM Best will host a complimentary webinar on Tuesday, May 16, 2023, at 2 p.m. (EDT) to discuss the challenges and opportunities facing the directors & officers (D&O) market.

Key Points: 
  • AM Best will host a complimentary webinar on Tuesday, May 16, 2023, at 2 p.m. (EDT) to discuss the challenges and opportunities facing the directors & officers (D&O) market.
  • The two additional panelists are Danny Hojnowski, senior vice president, head of U.S. D&O/E&O/Cyber, TransRe; and Uri Dallal, managing director, Aon.
  • In addition, the discussion will touch on some of following specific areas:
    Is there a power shift from sellers to buyers?
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

TransRe Announces Change In Executive Leadership

Retrieved on: 
Monday, April 17, 2023
Insurance, Professional Services, Retirement, TransRe, Management, Financial services

In a global leadership transition, on May 1 2023 Paul Bonny will retire from his role as Executive Vice Chairman after 41 years with TransRe.

Key Points: 
  • In a global leadership transition, on May 1 2023 Paul Bonny will retire from his role as Executive Vice Chairman after 41 years with TransRe.
  • Paul founded TransRe’s International division when he opened the London office in 1982.
  • Paul will continue to offer advice and assistance to TransRe through his ongoing role as a non-Executive Director of TransRe.
  • In recognizing Paul’s contribution to the company, Ken Brandt said, “Paul has been an institution both at TransRe and across the London and international markets throughout my reinsurance career.

AM Best Removes From Under Review With Positive Implications and Upgrades Credit Ratings of Alleghany Corporation and Its Affiliates

Retrieved on: 
Tuesday, January 10, 2023
Insurance, Professional Services, Berkshire Hathaway, AM Best, News, Insurance, RSUI, Credit, Alleghany Corporation, FSR, Long-Term Capital Management, ERM, Long-term care insurance, ALL, NYSE, TransRe, Risk management, AM, Superior, Acquisition, Berkshire, Security (finance), Copper

In addition, AM Best has removed from under review with positive implications and upgraded the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IRs) to “a+” (Excellent) from “a-” (Excellent) of Alleghany Corporation (Alleghany) and Transatlantic Holdings, Inc. Alleghany and Transatlantic Holdings, Inc. are headquartered in New York, NY.

Key Points: 
  • In addition, AM Best has removed from under review with positive implications and upgraded the Long-Term ICRs and the Long-Term Issue Credit Ratings (Long-Term IRs) to “a+” (Excellent) from “a-” (Excellent) of Alleghany Corporation (Alleghany) and Transatlantic Holdings, Inc. Alleghany and Transatlantic Holdings, Inc. are headquartered in New York, NY.
  • The ratings of TransRe, Alleghany Corp., RSUI Group and CapSpecialty were previously placed under review with positive implications following the completion of Berkshire Hathaway Inc.’s (NYSE:BRK.A; BRK.B) acquisition of Alleghany, which took place in October 2022.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.