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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
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