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Lloyd’s managing agents enjoy InsurTech advantages, analysts find

21st September 2018

Lloyd’s managing agents hold significant advantages in the technology ‘arms race’ due to their ability to quickly deploy supplier InsurTechs and take distribution platforms global, according to a new study undertaken for the Lloyd’s Market Association (LMA) by management consultancy Oxbow Partners. Analysts noted that Lloyd’s managing agents are generally more ... Read the full article

Price cycles less pronounced, rates to fade out in 2019: S&P Global

20th September 2018

In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article

Companies that don’t embrace change face irrelevancy: Ed CEO Steve Hearn

14th September 2018

Companies that fail to embrace new dynamics and “Continue to peddle the old model” will ultimately become redundant, says Steve Hearn, Chief Executive Officer of the London and global insurance and reinsurance brokerage, Ed. In a conversation at the Reinsurance Rendez-vous with Hearn and Kieran Angelini-Hurll, CEO of Reinsurance at Ed, ... Read the full article

The cycle has “disappeared,” says SCOR’s Denis Kessler

11th September 2018

Denis Kessler, Chairman and Chief Executive Officer (CEO) of French reinsurance giant SCOR, has said that it is his “strong conviction” that the reinsurance pricing cycle has “disappeared” and is unlikely to return. Speaking during a debate on the third day of the Reinsurance Rendezvous event in Monte Carlo, Kessler acknowledged ... Read the full article

Hannover Re expecting stable P&C prices at 1/1 renewals

10th September 2018

Hannover Re has announced that it is anticipating stability in property and casualty (P&C) reinsurance renewal prices and conditions overall for the treaty renewals at 1 January 2019. The German reinsurance giant acknowledged that the market environment continues to be challenging for P&C reinsurers, with rate increases lower than expected following ... Read the full article

Re/insurers must implement InsurTech strategies to compete effectively: PwC

9th September 2018

PwC has highlighted the need for insurers and reinsurers to develop and implement focused InsurTech strategies, in light of advancing technology and the ongoing maturity of the InsurTech space. According to PwC, InsurTechs are impacting the insurance and reinsurance industry in numerous ways, including the transformation of the existing value chain, ... Read the full article

JLT Re appoints Henry Sanderson to London Global Markets division

9th September 2018

JLT Re, the reinsurance broking arm of global brokerage JLT Group, has announced that Henry Sanderson is to join the London Global Markets division this week. He will be focusing on Digital Risks & Innovation - Cyber and related products. “With our recent hiring of Erica Davis in New York and ... Read the full article

Occam adds Alan Punter to Board as Non-Exec Director

7th September 2018

Specialty Lloyd’s of London managing general agent (MGA), Occam Underwriting, has added Dr Alan Punter to its Board as a Non-Executive Director. Punter worked for 25 years in global insurance broking groups Sedgwick, Alexander & Alexander and then Aon, where he was Managing Director in the Chairman's Office, and Chief Executive ... Read the full article

Reinsurance market survey results

6th September 2018

Reinsurance market surveys from Reinsurance News and Artemis View details of our global insurance and reinsurance market surveys, to find out what our growing readership thought about the state of the market at key points in the year. Our most recent surveys are at the top. With more than 200,000 readers every ... Read the full article

PCS develops county level U.S property catastrophe loss estimates

5th September 2018

Property Claims Services (PCS), a Verisk Analytics business, has developed a new level of granularity for U.S property catastrophe insured loss data, offering county level industry loss estimates and claim counts for events with insured losses of at least US $1 billion. PCS said it has worked closely with insurers in ... Read the full article

Munich Re Specialty hires two to lead Americas underwriting team

30th August 2018

Munich Re Specialty Group (MRSG), a division of reinsurance giant Munich Re, has appointed Steven Weiss and Ben Tucker to lead its expanding underwriting team in the Americas. Weiss has been named Senior Vice President (SVP)/Chief Underwriting Officer (CUO) of Ocean and Inland Marine Insurance. He brings 28 years’ experience as ... Read the full article

THB names Declan Durkan as Head of UK Risk Solutions business

29th August 2018

THB, the specialist insurance and reinsurance broker, has announced the appointment of Declan Durkan as Managing Director of THB UK Risk Solutions, the company’s wholesale broking operation that places UK risks on behalf of 1,300 brokers. Durkan joined THB in 2017 as Commercial Placement Director, before which he held a variety ... Read the full article

Beat Capital to merge with Paraline UK

23rd August 2018

It's been announced that Beat Capital Partners and Paraline UK are to merge in order to enhance and further build Beat's platform in an effort to support independent underwriting businesses. Following the merger, Beat, a Bermuda domiciled insurance holding company, will join Neon Holdings Ltd. as a strategic investment partner of ... Read the full article

W. R. Berkley establishes new Healthcare unit, names head

22nd August 2018

W. R. Berkley Corporation has announced the formation of Berkley Healthcare, a new unit that will provide a broad array of products and services to all types of healthcare providers, and has appointed AIG's Gregg A. Piltch as its President. Berkley Healthcare is comprised of Berkley Healthcare Professional Underwriters, which provides ... Read the full article

RiskBlock Alliance partners with EY on blockchain insurance services

22nd August 2018

The Institutes RiskBlock Alliance, a not-for-profit enterprise-level blockchain consortium for the risk management and re/insurance industry, has announced that Ernst & Young (EY) will serve as a primary service provider for blockchain-specific cybersecurity and risk management guidance. The services constitute part of the consortium’s efforts to implement and test multiple uses ... Read the full article