Reinsurance News

Your search for “cyber”

Marsh launches digital labs to develop new tech strategies

18th April 2018

Re/insurance broker Marsh has announced the launch of Marsh Digital Labs, an incubator focused on experimenting with emerging technologies, developing new products and business models, and engaging with clients, carriers, and InsurTech companies. Part of Marsh’s broader Digital, Data, and Analytics organisation, Marsh Digital Labs is based in San Francisco, California, ... Read the full article

Reinsurance demand will rise as terror risk landscape shifts: A.M. Best

16th April 2018

In a recent special report, A.M. Best has predicted that insurers will increasingly rely on reinsurance as the nature of terrorism changes and expands, and as the future of federal backstops become uncertain. In recent years, the nature of high-profile attacks has shifted from property damage to ‘lone wolf’ attacks designed ... Read the full article

Commercial property rate increases ease following sharp rises: Willis

16th April 2018

Insurance and reinsurance broker Willis Towers Watson has reported that rate increases for commercial property re/insurance are easing after sharp rises in response to 2017’s record-breaking natural catastrophe losses, although it predicts that buyers will continue to face upward pricing pressure over 2018. In its 2018 Insurance Marketplace Realities report, the ... Read the full article

Technology is redefining value chain roles, says Aon Benfield CEO Andersen

13th April 2018

Eric Andersen, Chief Executive Officer (CEO) of reinsurance broker Aon Benfield, has asserted that the integration of increasingly advanced InsurTech and data analytics is reshaping the re/insurance industry value chain and redefining the roles of brokers, insurers, and reinsurers within it. In an interview with A.M. BestTV at the Dubai ... Read the full article

Lucien Mounier to head Beazley’s Asia Pacific operations

11th April 2018

Beazley has announced the appointment of Lucien Mounier as Head of its Asia Pacific operations, a region the specialist insurer has identified significant growth opportunities for its products. The appointment sees Mounier move from Paris to be based in the firm's Asia Pacific hub in Singapore, and he will have responsibility for ... Read the full article

Technology will transform re/insurance value chain, says Swiss Re’s Mumenthaler

6th April 2018

Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re, has asserted that “Technology will fundamentally change the insurance value chain over the coming years” in a statement that comes alongside Swiss Re’s plans for technological adaptation and integration. Swiss Re maintains that it has prepared for technological market disruption by firmly ... Read the full article

Japanese P&C outlook remains stable: Moody’s

3rd April 2018

Moody’s considers the outlook for the Japanese property and casualty (P&C) industry to be stable, citing strong domestic profitability and capitalisation, but predicts that further improvement is unlikely. Japan’s P&C sector has maintained a stable outlook since July 2012, largely owing to the profitability of its auto insurance, which constitutes its ... Read the full article

Artificial Intelligence risks may outweigh benefits, reports Allianz

29th March 2018

In a new report, Allianz Global Corporate & Specialty (AGCS), a division of global insurer Allianz, has claimed that the advantages offered by increasingly integrated Artificial Intelligence (AI) applications in the re/insurance industry may be outweighed by the potential threats they bring. AGCS claims that increased vulnerability to malicious cyber-attacks and ... Read the full article

Beazley’s Dirk Froese elected to LMA Aviation Committee

29th March 2018

A recent Lloyd’s ballot has elected Dirk Froese, Head of Aviation at Beazley, to the Lloyd’s Market Association’s (LMA) Aviation Committee for a term of four years. Froese will join re-elected committee members Peter Wakefield, Head of Aviation at Chaucer, and Christopher Collins, Head of Aviation at Talbot, in providing a ... Read the full article

85% of re/insurance CEOs concerned about pace of tech change: PwC

28th March 2018

PwC has reported that 85% of Chief Executive Officers (CEO) in the re/insurance industry have expressed concern over the pace of technological change, a higher proportion than leaders in almost any other industry. 100 re/insurance CEOs participated in PwC’s 21st Global CEO Survey, which revealed a generally positive outlook among industry ... Read the full article

InsurTech may carry consumer protection risks for re/insurance industry

28th March 2018

Emerging technologies and innovative business models are already disrupting the re/insurance industry and bringing many advantages in terms of product design, risk assessment, cost, and efficiency, but InsurTech may also be increasing the risk of cyber-attacks and excluding lower income and higher risk consumers. InsurTech is generally considered to provide greater ... Read the full article

Lloyd’s Inga Beale warns of climate change impact on re/insurers

26th March 2018

Lloyd's Chief Executive Officer Inga Beale has added her voice to industry experts who warn of climate change having altered the risk landscape after Lloyd's paid out £4.5 billion last year for large claims net of reinsurance. Beale said the re/insurance industry is seeing the impact of climate change, and ... Read the full article

Ascent Underwriting names James Weatherstone as non-executive chairman

23rd March 2018

Ascent Underwriting has announced the appointment of James Weatherstone as non-executive chairman, subject to regulatory approval. Weatherstone joins Ascent from Arch where he was responsible for building the UK & international direct underwriting operations as Chief Executive Officer (CEO) of Arch Insurance London (AICE) and Arch Underwriting at Lloyd’s (AUAL). Prior to ... Read the full article

Monetary Authority of Singapore promotes sustainability and technology in re/insurance

23rd March 2018

In a recent speech at the General Insurance Association of Singapore Annual General Meeting Luncheon, Daniel Wang, Executive Director of the Monetary Authority of Singapore (MAS) suggested that MAS will be working closely with re/insurers to promote sustainability and technological innovation in the industry. According to Wang, MAS will encourage re/insurers ... Read the full article

Why AI is a game changer for reinsurance: Denis Kessler

22nd March 2018

As the Digital Revolution automates physical labour and drives the computerization of cognitive tasks through the rise of Artificial Intelligence (AI), Chairman and Chief Executive Officer (CEO) of SCOR, Denis Kessler, commented in a recent report that AI and data collection will completely alter asymmetries in insurance transactions and refocus ... Read the full article