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Aon and Chubb partner on new terrorism and political violence policy

10th July 2018

Re/insurance broker Aon plc has collaborated with Chubb Limited and Lloyd’s to develop a new stand-alone terrorism and political violence solution, called Platinum, which addresses the demands of an increasingly regulated market. Platinum has been designed for multinational clients looking to fulfil local regulatory requirements in all territories they operate in, ... Read the full article

Reinsurance increasingly used for earnings protection and volatility reduction: Willis

9th July 2018

According to a survey by global insurance and reinsurance broker, Willis Towers Watson, insurers are increasingly leveraging reinsurance for earnings protection and volatility reduction. Driven by pressure from investors, the survey indicates that insurers are becoming less tolerant of missed earnings targets. Subsequently, they are moving to more sophisticated metrics, such ... Read the full article

Tax reforms to restore underwriting profitability in U.S. P&C industry: S&P

6th July 2018

Federal tax reform has emerged as a key variable in revenue growth and profitability as the U.S Property & Casualty market looks set to return to underwriting profitability for the first time since 2015, according to S&P Global Market Intelligence. A recent report by S&P identified various factors that were supporting ... Read the full article

CNA Hardy appoints Rhonda Buege Head of new Specialty unit

6th July 2018

CNA Hardy, a UK specialist commercial re/insurer, has appointed Rhonda Buege as Head of its new augmented Specialty Business Unit, effective immediately. The new business unit will comprise all existing Healthcare and Specialty line products across both company and Lloyd’s platforms. Buege has 20 years’ experience in the industry, joining CNA’s Healthcare ... Read the full article

Willis appoints Jeremy Wall as Head of Global FINEX

5th July 2018

Global re/insurance broker Willis Towers Watson (WTW) has announced the appointment of Jeremy Wall as Head of Global FINEX. FINEX is part of WTW’s Corporate Risk and Broking division, and acts as the broker’s financial, executive and professional risk specialty group. “I am delighted to be able to appoint Jeremy as Head ... Read the full article

Re/insurers must remain innovative to seize potential of new tech: Munich Re CEO

5th July 2018

Munich Re’s Chief Executive Officer (CEO), Joachim Wenning has highlighted the potential of new technologies and called for the insurance industry to “keep doing what it has been doing for centuries and remain innovative.” Speaking at the 45th General Assembly of the Geneva Association - a 90-member strong think tank designed ... Read the full article

Reduced exposure to volatile lines to improve earnings visibility: J.P. Morgan

4th July 2018

Analysts at J.P. Morgan have said that the decision of some re/insurers to reduce their exposure to more volatile lines of business, namely natural catastrophe exposures, and focus on other, more stable classes, will lead to better earnings visibility as well as a faster rerating. Focusing mostly on the actions taken ... Read the full article

Swiss Re confident about transition to autonomous vehicles, reports Deutsche Bank

29th June 2018

As the largest global motor reinsurer, Swiss Re sees itself as well placed to benefit from anticipated structural changes to the market as the industry prepares to transition to autonomous vehicles, according to Deutsche Bank. Speaking at Deutsche Bank’s third dbAccess AutoTech day in London, representatives from Swiss Re explained that ... Read the full article

LMA Personal Accident Commitee appoints Stephan Ranzetta & Paul De Vido

22nd June 2018

Lloyd’s Market Association (LMA) has announced that Stephen Ranzetta and Paul De Vido have been elected to its Personal Accident Commitee, following a recent ballot at Lloyd’s. Da Vido is a senior class underwriter, A&H at XL Catlin while Ranzetta serves as class underwriter, A&H at Vibe Syndicate Management. The pair ... Read the full article

Parametric re/insurance potential in commercial risks highlighted

21st June 2018

A new report from Airmic in collaboration with reinsurance giant Swiss Re's commercial insurance arm and insurance and reinsurance brokerage Marsh, highlights the potential for parametric re/insurance solutions to become more mainstream in the commercial space. Parametric insurance remains more common place in the alternative reinsurance, or insurance-linked securities (ILS) sector, ... Read the full article

Commercial insurance industry must adapt to secure longevity: Airmic CEO Ludlow

21st June 2018

The commercial insurance industry’s longevity relies on its adaptability to emerging challenges unique to the fourth industrial revolution, according to Airmic Chief Executive Officer (CEO), John Ludlow. Speaking at Airmic’s annual conference in Liverpool, Ludlow pointed out that rapidly changing business models and the rise of cyber-technology is creating new risk ... Read the full article

Sompo rolls out Transaction Risk insurance across Europe

15th June 2018

Bermudian re/insurers Sompo International Holdings has announced the launch of a new Transaction Risk Insurance line of business through its European Speciality platform, expanding its current Professional Lines insurance offerings in Europe. The program targets parties - both public and private - domiciled or conducting its core business throughout Europe, on ... Read the full article

Chubb appoints Goldman as Executive VP of Overseas General Insurance

13th June 2018

Property and Casualty (P&C) insurer Chubb has announced the appointment of Steven F. Goldman as Executive Vice President (VP), Financial Lines for Overseas General Insurance, effective July 1. In his new New York-based role, Goldman will oversee Chubb’s international financial lines division including directors and officers liability, financial institutions, errors and ... Read the full article

Beazley considers GDPR implications of Dixons Carphone data breach

13th June 2018

Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article

New technologies to stimulate struggling engineering sector: Swiss Re

13th June 2018

The adoption of new technologies in construction could lead to significant improvements in efficiency for engineering insurance, a sector that has largely stagnated in recent years, according to a new study by Swiss Re’s sigma. Global engineering insurance premiums were estimated to total around $21 billion in 2017, but have suffered ... Read the full article