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AGCS appoints new offshore energy underwriter in London
5th May 2017
Allianz Global Corporate & Specialty (AGCS), a division of insurer and reinsurer Allianz, has announced the appointment of Zoe Massie as Offshore Energy Underwriter, based in the firm's London energy team. In her new role Massie will report to Tracey Hunt, AGCS Regional Head of Energy, London. Massie started her insurance ... Read the full article
Risk preparedness at lowest level since 2007: Aon
3rd May 2017
Reinsurance broker Aon Benfield has said firms are at their lowest levels for risk preparedness since 2007 - when it first began to assess the risk environment for businesses in its bi-annual global risk management survey. This is down to firms not yet having caught up with the speed of the ... Read the full article
Rate of European reinsurance purchase to gradually decline: A.M. Best
25th April 2017
Commenting on A.M. Best's latest market briefings, senior director, Carlos Wong-Fupuy, said the trend of large European insurers increasingly ceding business to reinsurers to offset soft market conditions and Solvency II requirements is expected to slow in the coming year. European insurers had been relying on reinsurance to enlarge their capacity for product ... Read the full article
Markel becomes second syndicate to join Lloyd’s India platform: Reports
24th April 2017
Markel is set to become the second syndicate to join Lloyd's India operations, after the specialist insurance and reinsurance market kicked off its India market expansion in April with MS Amlin as the first syndicate to join its newly launched domestic India reinsurance branch, the India Express has reported. Markel International Underwriter, ... Read the full article
Hiscox appoints new Chief Information Officer
19th April 2017
Insurance and reinsurance group Hiscox has appointed a new Chief Information Officer (CIO), naming Ian Penny, previously CTO of Barclays in the role. At Hiscox, Penny will be in charge of the Group's IT, with a team of 300 under his leadership and will report directly to CEO Bronek Masojada. Penny replaces ... Read the full article
Reinsurance News – Wednesday 12th April 2017
12th April 2017
Here’s your daily Reinsurance News for Wednesday 12th April 2017: Traditional reinsurance capital declined by $3 billion in Q4 2016: Aon During the final quarter of 2016 the volume of traditional reinsurance capital declined by $3 billion, while the level of alternative capital increased by $3 billion, meaning overall reinsurance capacity ... Read the full article
MGA Ascent Underwriting appoints claims director
10th April 2017
Niche product specialist managing general agency Ascent Underwriting, which offers cyber reinsurance solutions among its range of products, has appointed Mark Bowers, previously of Tokio Marine Kiln, as its claims director. Bowers joins Ascent Underwriting with immediate effect and will take on responsibility for maintenance and development of the companies claims ... Read the full article
Reinsurance News – Monday 10th April 2017
10th April 2017
Here’s your daily Reinsurance News for Monday 10th April 2017: $2 billion insured losses for severe U.S. weather events in March: Aon Benfield Global insured catastrophe losses from severe winter weather in the U.S. in March is expected to reach $2 billion, according to Aon Benfield. Japanese reinsurance renewals ... Read the full article
Reinsurance News – Friday 7th April 2017
7th April 2017
Here’s your daily Reinsurance News for Friday 7th April 2017: Favourable terms seen at April reinsurance renewal: Aon Buyers of reinsurance protection witnessed favourable terms at the 1st April 2017 renewals with record levels of capacity maintaining pressure on pricing, according to Aon Benfield. U.S. severe weather losses $2bn+ in ... Read the full article
Willis appoints Thorsten Querfurt to Natural Resources Global Industry Leader
5th April 2017
Willis Towers Watson has appointed Thorsten Querfurt, joining from management consulting firm Oliver Wyman, as new Global Industry Leader for Natural Resources. In his new role Querfurt will oversee the firm’s Natural Resources segment expansion - including oil, gas and chemicals, metals and mining, and power and utilities (including renewable energy and ... Read the full article
Reinsurance News – Monday 3rd April 2017
3rd April 2017
Here’s your daily Reinsurance News for Monday 3rd April 2017: Reinsurers to pick up Cyclone Debbie bill Reinsurance capacity is likely to cover the majority of the cyclone Debbie claims, which are thought to be at around the same level as 2011’s Yasi. Discipline sees Munich Re’s dividend payouts outpace ... Read the full article
Larger losses, digitalisation & tech are reshaping liability risk landscape: Allianz
31st March 2017
Companies around the world are increasingly susceptible to larger liability losses and the advancement of technology has the potential to drive a shift in the liability risk landscape, warns Allianz Global Corporate & Specialty (AGCS), a division of Allianz. After analysing 100,000 insurance claims from more than 100 countries between 2011 and ... Read the full article
Reinsurance News – Friday 31st March 2017
31st March 2017
Here’s your daily Reinsurance News for Friday 31st March 2017: Bermuda reinsurance market returns hit five-year low: A.M. Best Rating agency A.M. Best has highlighted the challenges in the Bermudian reinsurance market, noting that negative trends are increasingly evident. Protection gap is not just an emerging market issue: ... Read the full article
Protection gap is not just an emerging market issue: Swiss Re
30th March 2017
Over the last 25 years, the schism between global insured and economic losses has been steadily widening, a factor that when combined with growing climate, cyber, and geopolitical threat, leaves a dangerous and costly protection gap both in developed and emerging markets. 2016 stats show fast-developing Asian economies were hardest hit; struggling ... Read the full article
Morris Tooker announced as new Hartford Middle Market head
30th March 2017
The Hartford has announced Morris Tooker, former reinsurance President of Warren Buffett's Gen Re, as new head of the firm's Middle Market segment - which covers multiline commercial insurance for midsize and larger clientele. The Hartford's Middle Market segment offers property, general liability, workers’ compensation, auto, umbrella liability and marine protection, ... Read the full article
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