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Fairfax sells two pet insurance brands to JAB Holding

23rd June 2022

Fairfax has sold its interests in C&F Pet and Pethealth Inc. to JAB Holding Company in a deal worth $1.4 billion. Fairfax will receive $1.4 billion in the form of $1.15 billion cash and $250 million in seller notes.  As a result of the sale, JAB’s combined global ... Read the full article

Marsh collaborates with Zurich NA on pet insurance program

9th October 2019

Global re/insurance brokerage Marsh has announced the launch of a new pet insurance program for cats and dogs in the US, to be underwritten by Zurich North America. The program, called TrustedPals, is backed by Marsh’s Bluestream platform and will offer insurance with flexible co-payments, limits and deductibles. A self-service feature driven ... Read the full article

Technology has outpaced the insurance markets appetite: Verisk’s Tim Rayner

26th September 2022

2022 is set to be a landmark year of change in the London market, with the evolution of cloud computing, distributed computing via APIs, and data augmentation all starting to culminate in opportunities for the market to be more efficient as it starts to move from analogue to digital. This is ... Read the full article

AXA XL Reinsurance appoints Peter Kiernan and Simon Penney to new roles

7th July 2022

AXA XL Reinsurance has appointed Peter Kiernan to be its new head of US property for Bermuda reinsurance. Kiernan assumed his role on 1 July and is based in Bermuda. He replaces Simon Penney, who is relocating to London to take up a new global role as head of underwriting analytics ... Read the full article

Appetite for underwriting property cat reinsurance business tightening

1st June 2022

Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article

Reinsurance leaders show greater risk appetite since pandemic: Aon

1st October 2021

New research from Aon shows an increased appetite for calculated risks within the leadership of the re/insurance industry, with nearly 90% of executives expecting business conditions to be stronger a year from now. More than 18 months since the global outbreak of the COVID-19 pandemic, Aon surveyed 800 C-suite leaders and ... Read the full article

Stephen Pett joins Aon Reinsurance Solutions in Bermuda as a VP & broker

14th September 2020

Insurance and reinsurance broker Aon has announced that Stephen Pett, formerly of Nephila Capital, is to joins its Reinsurance Solutions operation in Bermuda as a Vice President and broker. Pett is expected to join Aon in Bermuda on September 15th, 2020 and will have a focus on industry loss warranties (ILWs) ... Read the full article

Insurance competition not working well for all customers, finds FCA

4th October 2019

UK regulatory body the Financial Conduct Authority (FCA) has published a new report arguing that competition in the home and motor insurance markets is not working well for all consumers. The FCA estimates that around 6 million policyholders pay high prices and are not getting a good deal on their insurance. In ... Read the full article

Reinsurer appetite to support insurance sector growth in Bolivia: A.M. Best

2nd September 2019

An expectation of continued, healthy growth, robust solvency ratios and stable appetite from reinsurance companies has seen A.M. Best assign a stable market segment outlook to Bolivia's insurance industry. According to international financial services rating agency, A.M. Best, Bolivia's insurance industry grew by 11% in 2018, on the back of 3.4% ... Read the full article

JLT Re’s Pete Chandler joins BMS as President, US reinsurance

3rd May 2019

Specialist insurance and reinsurance broker BMS Group has announced the appointment of Pete Chandler from JLT Re as President of its US reinsurance operations, effective May 27th, 2019. In his new role, which subject to regulatory approval sees him join the BMS US Board, Chandler will report to Steve Korducki, US ... Read the full article

Competition in UAE market has intensified, says Orient Insurance

26th April 2019

Competition in the United Arab Emirates (UAE) re/insurance marketplace has “intensified and gained momentum in 2018,” according to Orient Insurance P.J.S.C. In the company’s annual results report, Orient’s Board of Directors pointed to a substantial drop in motor and medical rates across the market, as well as a “serious hit back” ... Read the full article

Online re/insurance platforms could hurt competition, finds Geneva Association

7th January 2019

While online re/insurance platforms entail many benefits with regard to market transparency, transaction costs and information asymmetries, they may also pose significant challenges to consumer protection and levels of competition, according to the Geneva Association (GA). A recent report by the international think tank, titled 'Virtual Competition: Online Platforms, Consumer Outcomes ... Read the full article

Profitability varied across competitive European re/insurance markets: A.M. Best

30th August 2018

Profitability for companies operating in the European re/insurance markets is extremely varied, largely due to the peculiarities of each market and competition arising predominantly from the reinsurance sector, according to a recent report by A.M. Best. The rating agency observed that a handful of participants continue to dominate the European markets, ... Read the full article

Paragon Insurance appoints Andrew Peterson to lead MGA Reinsurance Operations

23rd January 2018

Multi-line specialty Managing General Agency (MGA), Paragon Insurance LLC has named Andrew Petersen as Regional President and Executive Vice President of Reinsurance Operations. Prior to joining Paragon, Peterson acted as Chief Corporate Development Officer of Atlas General Holdings, LLC, a San Diego based general agency, since 2012. He brings extensive industry experience ... Read the full article

U.S. life/annuity insurers’ appetite for reinsurance growing, but options decline: A.M. Best

22nd January 2018

U.S. life/annuity insurers have an increased appetite for utilising reinsurance protection as a risk management tool, but consolidation in the U.S. life reinsurance sector is limiting the options for primary players, according to ratings agency A.M. Best. A.M. Best states that U.S. life/annuity insurance companies have increased the aggregate face amount ... Read the full article