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Continental Re enhances agricultural reinsurance capabilities through Agritask
10th September 2020
Pan-African reinsurance company, Continental Reinsurance plc, is looking to enhance its agricultural reinsurance operations via the utilisation of Agritask's risk management platform. Agritask, the developer of an agronomic operations platform with clients across five continents, will support Continental Re through its flexible, data-driven system and modelling suite. Continental Re stands to benefit ... Read the full article
Global Parametrics renews Mexican reef cover, backed by Hannover Re
3rd September 2020
Global Parametrics, the parametric and index-based risk transfer startup, has led the renewal of a MXN 42.5 million (USD 1.9 Million) Mexican Reef Protection Program with reinsurance support from Hannover Re. Global Parametrics structured a parametric solution which pays out to support the restoration of a section of the Mesoamerican reef ... Read the full article
ARC Group hires new leadership position
2nd September 2020
African Risk Capacity (ARC) Group has announced that AIbrahima Cheikh Diong will be taking over their leadership, following his unanimous election by the ARC Conference of Parties earlier in June 2020. He will serve as the ARC Group’s Director General in the capacity of United Nations Assistant Secretary General for an ... Read the full article
Liberty Specialty Markets adds Pierre-Édouard Fraigneau as CUO for Europe
1st September 2020
Liberty Specialty Markets, part of Liberty Mutual Insurance Group, has appointed Pierre-Édouard Fraigneau to the newly-created role of Chief Underwriting Officer, Europe. Fraigneau joins from Sanlam where he held the position of Commercial Lines Director and Member of the Executive Committee, Pan Africa. He has over 17 years of underwriting and leadership ... Read the full article
Emerging market insurers to be hardest hit by COVID-19: Swiss Re
1st September 2020
Reinsurance giant Swiss Re has reported that emerging market insurers will be the hardest-hit globally by COVID-19. It is estimated that insurers will be hit with a 3.6 percentage point impact on premium growth in each of 2020 and 2021. However, China's insurance market is the exception, with average premium growth of ... Read the full article
Chedid Re partners with Hellenic Sun Insurance Brokers in Pakistan
28th August 2020
Lloyd's broker Chedid Re has signed a strategic partnership with Hellenic Sun Insurance Brokers (HSB) that sees it become HSB's new co-broking partners in Pakistan. The partnership is considered an opportunity for Chedid Re to expand into the region, and will see the company provide insurance and reinsurance support and expertise ... Read the full article
BHSI adds Keune as Head of Exec & Professional Lines in Germany
25th August 2020
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Dr. Carsten Keune as Head of Executive & Professional Lines in Germany. Keune has more than twenty years of industry experience. He was most recently Head of Global Commercial Lines Underwriting at ERGO. Before that, he was Underwriting Director Europe, Middle East and Africa at XL ... Read the full article
Expect further international growth at Whitespace after a promising year: Marcus Broome
20th August 2020
After an impressive 2020 for digital e-trading platform, Whitespace, underpinned by rapid uptake and full recognition by Lloyd’s of London, Reinsurance News spoke with Marcus Broome, Chief Platform Officer. Broome has been in the insurance industry since 1985, originally working for a Lloyd’s syndicate before founding a technology business called ROOM ... Read the full article
Zurich’s BOP falls 40% in H1 on COVID-19 and elevated cat losses
13th August 2020
Global insurer Zurich has announced a 40% dip in business operating profit (BOP) for the first half of the year to $1.7 billion, driven mostly by an impact of $686 million related to the ongoing COVID-19 pandemic. As well as the decline in BOP, Zurich has today reported a 42% contraction ... Read the full article
Lloyd’s selects ten insurtechs for cohort focused on COVID-19 risks
11th August 2020
Specialist insurance and reinsurance market Lloyd’s has announced its new cohort of InsurTech disruptors that will join the Lloyd’s Lab innovation accelerator programme. The ten successful teams were selected after presenting their ideas in a competitive process during a virtual pitch day on 29 July 2020. This is the second completely virtual ... Read the full article
Global Risk Solutions adds Chris Heywood as Chief Systems Architect
6th August 2020
International loss adjuster Global Risk Solutions has appointed Chris Heywood as Chief Systems Architect. The appointment follows the recent Kramer & Associates acquisition and the launch of the London based Complex Claims Unit, headed up by Mike Reeve. Heywood has more than two decades of experience in system architecture, software, and technology services ... Read the full article
RGA’s net income falls in Q2 as firm sees global COVID-19 claims of $300mn
5th August 2020
Life reinsurer, Reinsurance Group of America, Incorporated (RGA), saw its net income fall by $44 million in the second-quarter of 2020 to $158 million, as the firm reports global COVID-19 claims, including IBNR, of an estimated $300 million. Net income fell from the $202 million posted in Q2 2019 and for ... Read the full article
Hastings Group agrees to cash acquisition offer
5th August 2020
UK-based property and casualty (P&C) insurer, Hastings Group Holdings plc, has received a recommended cash offer from Sampo Oyj and Rand Merchant Investment Holdings Limited (RMI) to acquire all of its issued and to be issued shares not currently owned or controlled by the pair. Towards the end of July, Hastings ... Read the full article
Agritask appoints Daniel Stander of RMS as senior advisor
5th August 2020
Holistic ag-operations platform, Agritask, has announced the appointment of Daniel Stander as senior advisor to its leadership team. Stander, a global pioneer in decision science and resilience finance, began advising Agritask earlier this year. He was hired in the effort to drive the innovation required to address the productivity challenges facing ... Read the full article
Ed Broking adds Assad Ulhaq as senior broker, producer
4th August 2020
Global reinsurance, wholesale and specialty broker Ed has announceed the appointment of Assad Ulhaq as senior broker and producer with immediate effect. In this role Assad will focus on international property facultative reinsurance, primarily in Europe, the Middle East and Africa. Assad joins Ed with 10 years of industry experience, having most ... Read the full article