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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

Reinsurance CFOs confident about industry growth: PwC

9th November 2018

Chief Financial Officers (CFO) speaking at a panel during PwC’s Insurance Summit in Bermuda event agreed that the growth outlook for the reinsurance industry is positive, although they suggested that a number of challenges must also be overcome. Panellists including Jeffrey Sangster, former CFO at Validus Holdings; Mario Bonaccorso, CFO at ... Read the full article

BMS builds Australia presence with senior hires from Gallagher

8th November 2018

Independent specialist insurance and reinsurance broker BMS Group Limited has expanded its operations in Australia with the appointments of Stuart Davies as a Director and Samantha Ford as a Corporate Broker. Davies has 25 years’ experience in the UK and Australia re/insurance markets and joins BMS Australia from Gallagher, where he ... Read the full article

Barbican to increase Lloyd’s capacity in some lines, but withdraw from others

8th November 2018

Barbican Insurance Group's 2019 business plan for its Lloyd's of London syndicate Barbican 1955 has been approved, but the firm will deploy more capacity into some specialty lines, while withdrawing completely from other areas of business. Barbican said that Syndicate 1955 will focus on its core markets, with an increased focus ... Read the full article

Commercial insurance market set to firm as casualty losses mount: WTW

7th November 2018

Commercial insurance buyers are expected to face firming prices across multiple business lines, driven in part by losses across the casualty space, according to broker Willis Towers Watson (WTW). Casualty insurance losses are mounting, WTW says in its latest Marketplace Realities report, leading the broker to forecast some firming of prices ... Read the full article

RSG Underwriting Managers to combine MGU teams

7th November 2018

RSG Underwriting Managers, LLC (RSGUM), a subsidiary of Ryan Specialty Group (RSG), has announced that it plans to combine two of its Managing General Underwriter (MGU) teams, EmergIn Risk and ThinkRisk, under the EmergIn Risk brand. RSGUM said that uniting the teams will allow it to provide deeper underwriting expertise, broader ... Read the full article

Argo broker survey identifies most pressing re/insurance shortfalls

6th November 2018

A survey of brokers and the small and medium-sized businesses (SMEs) they serve, conducted by global specialty re/insurer Argo Group International Holdings, Ltd., has identified cybercrime, climate change, and talent retention as among the areas where re/insurance is most likely to fall behind. For example, Argo found that 71% of brokers ... Read the full article

Occam appoints new Board member and CFO

5th November 2018

Specialty Lloyd’s of London managing general agent (MGA) Occam Underwriting has announced the appointments of Daniel Carr to the Board of Directors of the Company and Mark Fisher as Chief Financial Officer (CFO). Carr has been with Occam since 2015 and will also continue in his role as Head of Innovation ... Read the full article

Hiscox premium growth continues, but expects it to slow as market still challenging

5th November 2018

Strong growth in premiums underwritten has continued at global specialist insurance and reinsurance firm Hiscox, but the firm expects this will slow down and moderate over the rest of the year as the market remains challenging. Hiscox reported its nine-month results this morning, citing an increase in gross written premiums 14.3% ... Read the full article

Bermuda’s role in the global reinsurance market more relevant than ever: KBRA

29th October 2018

A report from Kroll Bond Rating Agency (KBRA) highlights the ability of Bermuda over the years to re/invent to address insurance and reinsurance market challenges, underlining its significance to the global re/insurance market. Today, and despite an array of market headwinds, the island of Bermuda remains a seasoned provider of re/insurance ... Read the full article

Singapore-based MGA, Criterion Underwriting opens for business

29th October 2018

Criterion Underwriting Pte Ltd, a new independent managing general agent (MGA), has opened for business in Singapore. The new MGA was launched at the 15th Singapore International Reinsurance Conference, and will underwrite and manage and range of specialist insurance solutions on behalf of global insurance and reinsurance firms. The solutions that are ... Read the full article

London is “insurance sector equivalent of Silicon Valley”, says Aon’s Hennessy

26th October 2018

London’s insurance market has survived multiple challenges over the past 300 years and will not be derailed by issues such as brexit, according to Chief Executive Officer of Carrier Solutions at Aon, Karl Hennessy, who went on to describe London as the “insurance sector equivalent of Silicon Valley." Speaking at the ... Read the full article

Allianz (AGCS) expands alternative risk transfer line to Asia Pacific

26th October 2018

Allianz Global Corporate & Specialty SE (AGCS), Allianz Group’s specialist carrier for corporate insurance business, is expanding its alternative risk transfer (ART) line of business to the Asia Pacific region. Richard Green has been appointed to lead the new unit as Regional Head of ART, Asia Pacific, with effect from 15 ... Read the full article

Aon reports 8% organic reinsurance revenue growth

26th October 2018

Insurance and reinsurance broking powerhouse Aon has reported 8% organic revenue growth for its reinsurance broking operations during the third-quarter of 2018. Aon's results show that total revenue was flat across the company at $2.3 billion, but that factors in a decrease of $117 million, or 6%, related to the FASB's ... Read the full article