Reinsurance News
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Hannover Re to restrict underwriting for coal-based risks
18th April 2019
Hannover Re has announced that it plans to adopt a more restrictive underwriting policy for the reinsurance of coal-based risks in order to help combat climate change. As a general principle, the reinsurer will not provide coverage for any planned new coal-fired power plants or coal mines, and aims to no ... Read the full article
InsurTech startup Cytora secures £25m in funding, eyes international expansion
17th April 2019
London-based InsurTech startup Cytora has secured £25 million in a Series B funding round led by Swedish venture capital firm EQT Ventures. Cytora, which was founded at the University of Cambridge in 2014, deploys artificial intelligence (AI) into commercial underwriting processes to improve and assist with the automation of decisions throughout ... Read the full article
HDI Global Specialty hires leader for new aviation team in Australia
29th March 2019
HDI Global Specialty SE – Australia, the collaborative specialty insurance venture between HDI Global and Hannover Re, has hired James Bowes to lead a new General Aviation team in the Asia Pacific markets. Bowes has 20 years’ experience and joins HDI Global Specialty SE – Australia from QBE, where he served ... Read the full article
ICA estimates current industry Townsville losses at $606mn
15th February 2019
The Insurance Council of Australia (ICA) has recorded 15,571 insurance claims from the flooding in Townsville, Queensland so far, with current industry losses estimated to be around AUD $606 million (US $429 million). Rob Whelan, Chief Executive Officer (CEO) of the ICA, today briefed the Queensland Deputy Premier on the re/insurance ... Read the full article
Liberty Specialty Markets hires casualty leader for Italy
12th February 2019
Liberty Specialty Markets (LSM), part of the Liberty Mutual Insurance Group, has entered the casualty market in Italy for the first time, appointing Paolo Pitton to lead the initiative. Pitton will join LSM’s existing Milan office, arriving from Chubb Europe, where he most recently served as Deputy Casualty Manager. LSM has been ... Read the full article
Lloyd’s names David Duclos as Non-Exec Chairman of Global Network
6th February 2019
Insurance and reinsurance marketplace Lloyd’s of London has confirmed the appointment of David Duclos as Non-Executive Chairman of Lloyd’s Global Network, effective immediately. In this role, Duclos will serve as a key advisor in the development of Lloyd’s international network. He has more than 40 years’ experience in the international re/insurance industry, ... Read the full article
ACORD reveals 2019 Board of Directors
28th January 2019
International standard-setting body for the insurance sector, ACORD, has announced its new 2019 Board of Directors, as well as numerous returning members. J. Spero Zacharias will continue as Chair of the Board of Directors, which consists of 27 members, including nine new Directors. ACORD President and Chief Executive Officer (CEO), Bill Pieroni, ... Read the full article
Chubb’s ABR Reinsurance hires Ramlal as Underwriting Director
21st January 2019
ABR Reinsurance Capital Holdings, the self-reinsurance vehicle jointly operated by Chubb and investment management firm Blackrock, has appointed Sean Ramlal as an Underwriting Director. Ramlal joined ABR Re in November 2018 from QBE Reinsurance, where he served for the previous four years as Vice President, Treaty Underwriter. At QBE Re, he was responsible ... Read the full article
Berkshire BHSI enters UK construction, appoints SCOR’s Seamer to lead division
16th January 2019
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global insurance and reinsurance company, is expanding into the UK property construction insurance market and has added Simeon Seamer to lead as Head of Property Construction, UK & Ireland from the firm's London office. Alongside property construction, BHSI's UK expansion ... Read the full article
Compre appoints Simon Hawkins as CFO
8th January 2019
Compre, the independent European re/insurance legacy acquirer, has announced the appointment of Simon Hawkins as Chief Financial Officer (CFO), effective immediately. He succeeds outgoing CFO Paul Matson, who held the role for the previous three years and completed a four-month handover to Hawkins before departing at the end of 2018. Hawkins joined ... Read the full article
Nat Re’s Allan Santos elected Chairman of Philippine re/insurers association
7th January 2019
The Philippine Insurers and Reinsurers Association (PIRA), the trade association of the Philippines’ non-life re/insurance industry, has elected Allan Santos as its new Chairman. Santos, who is President and Chief Executive Officer (CEO) of the National Reinsurance Corporation of the Philippines (Nat Re), was elected by the Board of Trustees of ... Read the full article
Hamilton Underwriting appoints Robert Vetch as CFO
7th January 2019
Hamilton Underwriting Limited, the managing agency of Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, has appointed Robert Vetch as Chief Financial Officer (CFO). Vetch joins Hamilton Underwriting from W.R. Berkley Corporation, where he spent the previous nine years as CFO for WRB Underwriting. He has also worked as Finance ... Read the full article
Ten re/insurers rule out support for Australian coal mine following climate campaign
20th December 2018
Ten of the world’s largest insurers and reinsurers will not provide support for the development of Adani Group’s Carmichael coal mine in Queensland, Australia, following a campaign by 73 prominent environmental organisations. The organisations, which collectively represent 76 million members, penned a letter to 30 global re/insurance companies earlier this ... Read the full article
Lloyd’s turns to IoT for marine cargo performance improvement
17th December 2018
Lloyd’s has joined six lead market syndicates - AXA, QBE, CNA, Ascot, Antaras and Beazely - on a new initiative to begin using Parsyl, a venture-backed supply chain data platform that utilises Internet of Things (IoT) technology. The new initiative is designed for products that require specialist transport and storage, such ... Read the full article
Environmental collective urges re/insurers to pull support for Australian coal mine
6th December 2018
A collective of 73 environmental organisations has penned a letter to 30 global re/insurance companies urging them to rule out any insurance services for Adani Group’s Carmichael coal mine and associated rail project in Queensland, Australia. The organisations, which collectively represent 76 million members, hope to build on the momentum of ... Read the full article