Reinsurance News

Your search for “cyber”

Allianz and InsurTech start-up Flock announce pay-as-you fly drone cover

1st August 2017

Allianz and InsurTech start-up Flock have announced the soon to come launch of the UK's first pay-as-you fly drone insurance that can be tailored to each flight through the Flock app and provides up to £10 million liability cover. The pay-as-you-fly drone insurance is the first product to be launched by ... Read the full article

Pool Re CEO urges re/insurers to adapt to evolving terror threat

31st July 2017

The terrorism re/insurance model needs to evolve in line with changing threats after the 2017 attacks in the UK showed gaps in business interruption (BI) cover and the potential vulnerability of motor insurers to terror threats, Pool Re Chief Executive Officer (CEO), Julian Enoizi told Bloomberg in an interview. After this ... Read the full article

Growth elusive in 2017, but Beazley makes a win on specialty lines

27th July 2017

Beazley revealed a winning start to the year at the 2017 mid-way point, reporting an overall 6% pre-tax profit increase due to pockets of growth in specialty lines despite market conditions for traditional large-scale risks becoming more competitive. The insurer's pre-tax profits rose by over $8 million to $159 million on gross ... Read the full article

Inaugural IFTRIP a defining moment for terror risk pools: Pool Re’s Enoizi

21st July 2017

Speaking ahead of the inaugural International Forum of Terrorism Risk Pools' (IFTRIP) conference, held in Paris on June 28th, 2017, Pool Re Chief Executive Officer (CEO), Julian Enoizi said that as the first formal collaboration event between the world's terrorism re/insurance entities it would be a defining moment for national ... Read the full article

Demand for casualty reinsurance increases at mid-year renewals: Willis Re

20th July 2017

Commenting on trends in the casualty market after the 2017 mid-year renewals, Willis Re said demand for reinsurance is increasing as the cyber market expands and global demand is stimulated by pending regulation in the European Union (EU) and Australia. As underlying cyber coverage expands with first party exposures, reinsurers appear ... Read the full article

Sonja Ochsenkuehn joins XL Catlin from AIG to lead Global Programs

10th July 2017

The global insurance division of insurer and reinsurer, XL Catlin, has announced the appointment of Sonja Ochsenkuehn from insurer AIG, as Head of Global Programs. Ochsenkuehn has worldwide responsibility for XL Catlin's insurance operations' Global Programs, which are key to the company's offerings to its clients. In fact, XL Catlin explains that last ... Read the full article

FERMA appoints six board members & confirms re-election of Willaert as President

7th July 2017

Jo Willaert has been confirmed as President of the Board of the Federation of European Risk Management Associations (FERMA) for a further two years, with the organisation also announcing the election of six Board members. The general assembly of FERMA met in Brussels on Friday June 30th, 2017, and have now ... Read the full article

Delta Insurance commences Singapore operations

5th July 2017

New Zealand's Delta Insurance has become the first cyber and technology Lloyd's of London coverholder in Asia, following the launch of Delta Insurance Singapore. The launch is the company's first overseas office in Singapore, and is part of the company's broader, strategic expansion plans. Ian Pollard, Managing Director of Delta International, said; ... Read the full article

Lloyd’s new chairman Carnegie-Brown; embrace change or become obsolete

4th July 2017

Speaking at the MMC Young Professionals Forum in his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the re/insurance industry needed to ramp its efforts to change and innovate or risk falling prey to disruption by external players. He drew on challenges of industry disruption from his previous role as ... Read the full article

Fidelis & former Hiscox Re exec Ashton launch specialty joint venture

3rd July 2017

Fidelis Insurance has announced the creation of a new specialty joint venture with Rob Ashton, former head of specialty at Hiscox Re Specialty, that will have a strong focus on the cyber reinsurance market. The new venture will begin writing business from January 1st, 2018, with a focus on niche specialty ... Read the full article

De-risking the right step for Novae: Peel Hunt

30th June 2017

Recent and ongoing steps taken to de-risk itself will benefit Lloyd's insurance and reinsurance specialist Novae Group, according to analysts at Peel Hunt. Novae "is taking the right actions to ease capital pressure, rebuild tangible equity and crystalize the intrinsic value of the business" the analysts explain, after reviewing the reinsurance ... Read the full article

Insurance law firms expand global specialist expertise with network launch

29th June 2017

Insurance law firms spanning four continents have today launched a formal alliance network, Global Insurance Law Connect, to match their clients' global needs with local lawyers' specialised insurance law expertise. The member firms operate across seven countries, and include: Batini Traverso Grasso & Associati (Italy), BLM (UK), Byrd & Associates (France) and Foran ... Read the full article

Ogden rate & market innovation: UK Economic Secretary Steven Barclay

28th June 2017

The UK Economic Secretary Steven Barclay said yesterday in a speech at the Association of British Insurers conference, the government is consulting on how to set the Ogden rate for England and Wales, to ensure a "better and fairer system for claimants and defendants." Barclay said; "We are currently considering the ... Read the full article

Munich Re partners with Community Association Underwriters of America

28th June 2017

Reinsurance giant Munich Re is partnering through its U.S. Specialty Markets branch with the Community Association Underwriters of America (CAU), a managing general agency and division of Alliant Specialty Insurance Services. From July, Munich Re's US-affiliated carriers will insure CAU’s existing business and also offer its client base a number of ... Read the full article

Declining rates to continue, S&P warns on reinsurer discipline

23rd June 2017

Global reinsurers face another year of falling rates as the market shows no signs of shifting course; abundance of capital and normal levels of losses coupled with growing competition have remained the unchanged hallmarks of the reinsurance sector, said S&P Global in a report released yesterday. S&P rated the sector's ... Read the full article