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DWF adds Adrian Flynn as Partner in Dublin office
18th June 2018
Multinational law firm DWF has appointed Adrian Flynn as a partner in its Dublin office, where he will work with the insurance team on defendant personal injury claims. Flynn joins DWF from DAC Beachcroft, and brings expertise in personal injury insurance defence litigation and product liability claims. He deals predominantly with large ... Read the full article
JLT Re North America appoints Todd Burgener as Executive VP
14th June 2018
Reinsurance broker JLT Re has announced the appointment of Todd Burgener as Executive Vice President (VP) for its North American operations. Based out of the company’s Chicago offices, Burgener will be working with healthcare captive clients and prospects to develop tailored risk transfer solutions. Burgener joins from Northwestern Memorial HealthCare where he ... Read the full article
PSC Group to acquire 20% stake in B.P. Marsh
13th June 2018
Australia-based PSC Insurance Group (PSC) is set to acquire an almost 20% stake in venture capital provider B.P. Marsh & Partners (Marsh) via the purchase of both new and existing shares. Marsh has announced the placing of 6,169,194 new ordinary shares to PSC at a price of 252 pence each and ... Read the full article
XL Catlin bolsters Global Excess Casualty Insurance team with two key appointments
5th June 2018
XL Catlin has further strengthened its Global Excess Casualty Insurance team following the dual appointments of Donnacha Smyth as President, Global Excess Casualty Insurance and Carla Greaves as Chief Underwriting Officer (CUO), Global Excess Casualty. Smyth, who has served a number of positions with the firm since 2007, is set to ... Read the full article
Athene completes $19bn fixed annuities reinsurance deal with Voya Financial
4th June 2018
Athene Holding has successfully completed a transaction with Voya Financial to reinsure approximately $19 billion of fixed and fixed indexed annuity liabilities. The transaction, which was announced in December 2017, brings Athene’s total invested assets to approximately $100 billion. The fixed and variable annuity blocks from Voya will be administered by ... Read the full article
Greenlight Re addresses Sunesis Capital PFIC allegations
31st May 2018
Specialist hedge fund backed property and casualty (P&C) reinsurer Greenlight Re has addressed a recent report published by Sunesis Capital, which alleges that Greenlight Re should be classified as a passive foreign investment company (PFIC). The report claims that Greenlight Re, which is headquartered in the Cayman Islands, functions as a ... Read the full article
AIG expects further pension risk transfer market growth in 2018
30th May 2018
American International Group (AIG) expects continued growth in the pension risk transfer market throughout 2018 and beyond, as the insurance giant announces agreements on the two largest plan termination transactions in 2017. The deals, which represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and ... Read the full article
European re/insurers increasingly relying on equity investments: A.M. Best
25th May 2018
European re/insurers are increasingly relying on equity investments to maximise their returns in the current low interest rate climate, despite the inevitable rise in exposure to market risk, according to A.M. Best. The rating agency analysed the 500 largest European re/insurers over a six-year period, finding that there was a 2-3% ... Read the full article
Aon launches Intellectual Property Solutions group, appoints Lewis Lee as CEO
24th May 2018
Leading insurance and reinsurance broker Aon has announced today the the launch of its intellectual Property (IP) Solutions group, in a move aimed at providing increased industry knowledge for clients via an emphasis on strong analytical tools and strategic hiring. To accomplish this, Aon acquired IP industry leader 601West, appointing the ... Read the full article
Crawford welcomes Sandra Harbans as Director of Operations of Lloyd’s unit
21st May 2018
Crawford & Company (Canada) Inc., a provider of claims management solutions, has announced the addition of Sandra Harbans to its Lloyd's of London unit as Director of Operations. Specialising in claims, finance and underwriting administration, Harbans holds more than 25 years of experience within the insurance industry. As a seasoned insurance ... Read the full article
U.S. withdrawal from Iran deal has potential implications for re/insurers
10th May 2018
Following the decision by U.S. President Donald Trump to withdraw from the Iran nuclear deal, industry observers and experts have warned of increased compliance risks for insurers and reinsurers and the potential for significant implications for certain trade coverage. President Trump declared on Tuesday May 8th that he was withdrawing the ... Read the full article
Catalina reinsures U.S. P&C legacy portfolio for Arch
24th April 2018
Bermuda domiciled insurer and reinsurer, Arch Reinsurance Ltd. (Arch) has entered into a reinsurance transaction with Catalina Holdings (Bermuda) Ltd subsidiary, Catalina General Insurance Ltd (Catalina), which sees the latter assume a portfolio of U.S. property & casualty (P&C) liabilities in run-off from Arch. The U.S. P&C legacy portfolio assumed by ... Read the full article
Munich Re Digital Partners appoints Angela Homm as Global CFO
17th April 2018
Munich Re Digital Partners, a subsidiary of global reinsurer Munich Re that invests in InsurTech start-ups, has appointed Angela Homm as Global Chief Financial Officer (CFO), and as Senior Director of Risk & Finance for its U.S team, effective April 23rd, 2018. As CFO, Homm will be responsible for Digital Partners' ... Read the full article
AXA to remodel Swiss group life business as semi-autonomous
10th April 2018
AXA Switzerland, the largest re/insurer of small-to-medium enterprises (SMEs) in the Swiss market, has announced plans to convert the business model of its main occupational benefits foundations from a full-value insurance model to a semi-autonomous model. From 2019, the foundations will be responsible for asset allocation and investment returns to policyholders, ... Read the full article
Stable 2018 outlook for UK life re/insurers: A.M. Best
9th April 2018
A recent report by A.M. Best has concluded that the outlook for the UK life re/insurance sector is likely to be stable over 2018, owing to favourable growth opportunities from defined contribution (DC) pensions and bulk annuity transactions, despite a number of challenges and uncertainties. A.M. Best expects the DC pension ... Read the full article