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U.S D&O liability underwriting results lowest in seven years: Fitch

4th May 2018

Fitch Ratings has reported that U.S Director and Officers (D&O) liability re/insurance underwriting results for 2017 fell to their worst level since 2011. D&O has historically been a more volatile product line than many other Property and Casualty (P&C) products, and claims risk in private and non-profit organisations has expanded in ... Read the full article

Marsh and Validus collaborate on new U.S fintech policy

3rd May 2018

Re/insurance broker and risk management firm Marsh has collaborated with Validus Specialty, an underwriter of professional liability solutions, to develop FINTECH Protect, a financial and professional re/insurance solution that manages the growing risks of U.S-based fintech companies. Unlike traditional forms of re/insurance for financial and technology industries, FINTECH Protect offers comprehensive ... Read the full article

Zurich strengthens UK underwriting team with hires from Chubb and QBE

3rd May 2018

Zurich has announced that it plans to strengthen its UK underwriting team with a string of new leadership hires, including the appointment of Chubb’s Antony Statham as Head of Regional Financial Lines, and QBE’s Paul Mundy as Regional Underwriter Leader for the North. The new appointments represent part of Zurich’s strategy ... Read the full article

ARPC prepares for fifth triennial Terrorism Insurance Act review

2nd May 2018

The Australian Reinsurance Pool Corporation (ARPC), a government-backed terror risk reinsurance venture, is preparing for any changes that may be proposed by the Australian Treasury’s 2018 Triennial Review of its Terrorism Insurance Act 2003 (TI Act). The TI Act requires that a review be conducted at least once every three years ... Read the full article

Changing terror risk landscape pressures re/insurers to broaden appetites: JLT

2nd May 2018

The emergence of new terror-related risks continues to drive an increasingly complex and diverse terror risk landscape, adding pressure to insurers and reinsurers to develop new solutions and adopt new approaches to tackle the threat, according to insurance and reinsurance broker JLT. JLT has launched a new Viewpoint Report, which explores ... Read the full article

Only 42% of UK business leaders confident in growth prospects: CNA Hardy

27th April 2018

CNA Hardy, a UK specialist commercial re/insurer, has released the Spring 2018 edition of its Risk and Confidence Survey, which reveals that just 42% of executives in UK businesses are confident in the ability of their firm to grow and prosper. This figure shows a cautious increase from the 28% that ... Read the full article

Munich Re “poised” for growth as it targets reduced complexity

25th April 2018

At Munich Re’s 2018 Annual General Meeting (AGM,) Joachim Wenning, Chair of the Board of Management, revealed that the company expects to increase its profits as it braces for growth by reducing operational complexity and embracing digital transformation. Wenning confirmed a profit guidance of €2.1–2.5 billion for 2018, which is higher ... Read the full article

Indian regulator reminds re/insurers on ‘order of preference’

25th April 2018

The Insurance Regulatory and Development Authority of India (IRDAI) has issued a reminder to all re/insurance companies stating that they must comply with established guidelines regarding ‘order of preference’ while placing reinsurance deals. “We are informed that some of the insurers are not complying with the order of preference. Insurers are ... Read the full article

Hannover Re’s Ari Chatterjee named CUO of Envelop Risk

19th April 2018

Envelop Risk, a recently launched global specialty cyber insurance analytics and underwriting firm, has appointed cyber risk expert Aritra (Ari) Chatterjee from Hannover Re as its Chief Underwriting Officer (CUO). Launched on Monday, Envelop Risk provides cyber risk underwriting to insurers and reinsurers, and partners with cyber security companies to deliver ... Read the full article

Marsh names Paul Denny as UK FINPRO Leader

18th April 2018

Marsh, a global re/insurance broker and risk management firm, has appointed Paul Denny as UK Financial and Professional Practice (FINPRO) Leader. Denny will be responsible for managing Marsh’s UK management liability, financial services, professional liability and specie risk teams, and will report to Paul Moody, Chief Executive Officer (CEO) of Marsh’s ... Read the full article

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