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AkinovA adds Tokio Marine’s Daljitt Barn to Advisory Board
13th December 2018
AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Daljitt Barn to its Advisory Board. Barn is the Global Head of Cyber Risk for Tokio Marine Group and an industry leader in cyber insurance and cyber risk, combining insurance value-chain expertise with a ... Read the full article
Demand for non-life reinsurance to increase in 2019: A.M. Best
11th December 2018
Demand for non-life reinsurance is expected to increase over 2019, according to A.M. Best, due primarily to factors such as the return of U.S economic growth, as well as global growth and benefits from the U.S federal tax reform. Analysts at A.M. Best believe these conditions will provide opportunities for organic ... Read the full article
Swiss Re Corp Solutions appoints Aerni as Global Head of Casualty, FinPro Lines
7th December 2018
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has appointed Phillippe Aerni as Global Head of Casualty, Financial & Professional Lines, effective 1 January 2019. Based in Zurich, Aerni will assume the Global Casualty role from Daniel Vetter, who moves into the role of Head E&S North ... Read the full article
Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown
6th December 2018
The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article
A.M. Best stable on reinsurance for 2019
6th December 2018
Global ratings agency A.M. Best has revised its outlook for the global reinsurance industry to stable from negative for 2019, driven by the convergence of traditional and third-party, or alternative reinsurance capital among non-life players. The ratings agency's revised outlook is also a result of more stable pricing, albeit at levels ... Read the full article
Digitalisation is resulting in more customer-centric insurance: GA report
5th December 2018
The increasing digitalisation of the economy is resulting in a shift from insurance that is primarily concerned with loss indemnification to one that provides a broader advisory service for customers on how to prevent, mitigate and manage risks, according to a report by international re/insurance think-tank The Geneva Association (GA). New ... Read the full article
The Hartford acquires specialist MGU Y-Risk
4th December 2018
Property and casualty insurer the Hartford has announced the purchase of Y-Risk, a managing general underwriter (MGU), from Allstar Financial Group. Y-Risk offers products for the sharing and on-demand economy, with tailor-made coverages and usage-based pricing for commercial auto, general liability, property, inland marine, cyber and professional liability. The firm delivers its ... Read the full article
Bermudian insurers using more reinsurance for cat exposures, finds BMA
3rd December 2018
The Bermudian re/insurance market continues to prove resilient to potential major catastrophe losses, according to the Bermuda Monetary Authority (BMA), partly due to its increasing use of reinsurance and retrocession. The BMA found that, on average, insurers ceded around 50.0% of their gross losses to reinsurers over 2017, which was an ... Read the full article
Value of re/insurance for reputational risks shouldn’t be ignored: Johansmeyer, PCS
29th November 2018
When it comes to reputational risk, there’s an argument that the bark is worse than the bite, but that doesn’t mean risk managers shouldn’t secure insurance or reinsurance to protect against major potential reputational events, according to Tom Johansmeyer, Co-Head, PCS Strategy and Development, Verisk Risk Solutions. Reinsurance News recently spoke ... Read the full article
Significant insurance industry losses, events & data
22nd November 2018
Major insurance and reinsurance industry loss events Here we document major industry loss events that have affected the insurance and reinsurance market in recent years, with data on the latest insured loss estimates for catastrophe and man-made disasters that we have collated from a range of sources. Listing the major natural catastrophe ... Read the full article
New tech key in narrowing protection gap: Swiss Re’s Jerome Haegeli
21st November 2018
Speaking yesterday at Swiss Re’s London offices, the firm's Chief Economist Jerome Haegeli, alongside the Head of Insurance Risk Research Dan Ryan, stated that it will take a combination of proactiveness and the deployment of new technologies to narrow the global protection gap. “More technology is a huge upside to the ... Read the full article
Aon develops new Non-Damage Business Interruption cover
20th November 2018
Re/insurance broker Aon has announced the launch of a new Non-Damage Business Interruption (NDBI) cover that is designed to protect the income streams of companies with high levels of intangible assets. Insurance protection for the new NDBI product is provided by a number of major re/insurers, Aon said, including Lloyd’s of ... Read the full article
Business leaders lack confidence about growth prospects: CNA Hardy
19th November 2018
Less than two thirds (59%) of business executives worldwide are currently confident about the ability of their companies to grow and prosper, with 82% feeling they operate in a moderate to high risk environment, according to the latest edition of CNA Hardy’s Risk and Confidence Survey. Responses varied significantly by region, ... Read the full article
Reinsurers need to expand their growth efforts: Industry execs
13th November 2018
Industry executives speaking at the annual S&P Global Ratings 2018 Bermuda Reinsurance Conference have called on market players to expand their businesses and turn their focus from pricing. Executives said that global reinsurance companies would benefit from moving away from a decade-long focus on pricing, which remains competitive and pressured, and ... Read the full article
Capsicum Re adds two to London property and specialty division
12th November 2018
Specialist reinsurance broker Capsicum Re has appointed Ed Le Flufy and Piers English to its London property and specialty division. Le Flufy joins Capsicum Re from BMS as a specialty broker focusing on cyber, and will now report to Ian Newman, Capsicum Re’s Global Head of Cyber. He has more than a ... Read the full article
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