Reinsurance News
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Willis Towers Watson acquires specialist M&A broker Risk Capital Advisors
1st August 2019
Willis Towers Watson said this morning that it has acquired Risk Capital Advisors, a leading mergers & acquisitions broking specialist focused on business in Australia, New Zealand and South Africa. Adding to its specialist insurance and reinsurance broking capabilities and broadening its reach globally, has been part of the strategy for ... Read the full article
Metabiota promotes Nita Madhav to CEO
30th July 2019
Epidemic risk modeller Metabiota has announced the promotion of Nita Madhav as its new Chief Executive Officer (CEO). Madhav most recently served as the firm's Vice President (VP) of Data Science, and her promotion sees Metabiota appoint its first female CEO. As VP of Data Science, Madhav led the data science ... Read the full article
H1 insured cat losses hit 12-year low at $20bn: Aon
25th July 2019
Insured catastrophe losses totalled just $20 billion during the first half of 2019, marking the lowest level of average losses since 2006, according to re/insurance broker Aon. Industry losses were 45% below the 10-year average of $28 billion and 26% lower than the 21st Century average of $25 million, but still ... Read the full article
China Re partners with Portugal’s Fidelidade on Belt & Road projects
22nd July 2019
China Re has entered into a new partnership with Portuguese insurer Fidelidade to help support Chinese investments under the ambitious Belt and Road initiative. Working together, the companies will contribute to the implementation of reinsurance solutions for projects in Portugal, Spain, France, Angola, Mozambique, Cape Verde and Peru. The announcement comes shortly ... Read the full article
Use of transactional risk insurance swelled in 2018: Marsh
17th July 2019
A new report from global re/insurance brokerage Marsh suggests the use of transactional risk insurance underwent a significant increase in 2018. For example, policy limits in excess of $1 billion are now being made available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the ... Read the full article
Insurers ceded 5% of global premiums to reinsurers in 2018: Swiss Re
16th July 2019
Swiss Re Institute has estimated that primary insurers ceded about $260 billion, or 5%, of direct premiums written to the global reinsurance markets in 2018. More than three quarters of this total ($200 billion) were non-life premiums, which had a higher cession rate of around 8.4%. In contrast, only around 2% of ... Read the full article
Lloyd’s extols customer benefit of parametric insurance & smart contracts
11th July 2019
New reports by insurance and reinsurance marketplace Lloyd’s of London has endorsed parametric insurance and smart contracts as a way to help re/insurers offer customers better products and services. Lloyd’s acknowledged that parametric policies offer insurers more scope to design products for risks that could otherwise be uninsurable or underinsured. Parametric policies ... Read the full article
Alison Martin to succeed Amanda Blanc as Zurich CEO EMEA
10th July 2019
Zurich Insurance Group has announced the appointment of Alison Martin to the role of Chief Executive Officer (CEO) for Europe, Middle East & Africa (EMEA) and Bank Distribution, effective immediately. She succeeds Amanda Blanc, whose surprise departure from Zurich was announced last week after less than nine months in the ... Read the full article
Markel adds Keith Paul to Dubai team as Senior Underwriter
5th July 2019
Specialist insurer Markel International has appointed Keith Paul as a Senior Underwriter in its Dubai-based trade credit and political risk team. Paul, who brings over a decade of underwriting experience across political risk, surety, trade credit and financial lines, joins from Coface Australia. He previously worked as directors and officers liability underwriter ... Read the full article
Amanda Blanc to depart Zurich after 9 months as CEO EMEA
3rd July 2019
Zurich Insurance Group has announced that Amanda Blanc, its Chief Executive Officer (CEO) for the Europe, Middle East & Africa (EMEA) region, has resigned. Blanc joined the company just nine months ago in October 2018, having previously served as CEO for AXA UK & Ireland. While at Zurich, she also a ... Read the full article
TransRe Zurich redomiciles to Luxembourg, Jonathan Hewitt named CEO
2nd July 2019
Alleghany Corporation's wholly owned reinsurance subsidiary, Transatlantic Holdings, Inc. (TransRe) has redomiciled its TransRe Zurich Ltd subsidiary to Luxembourg, and renamed the division TransRe Europe S.A. TransRe is headquartered in New York with operations across the globe. The reinsurer states that the redomicile from Zurich to Luxembourg supports its long-term commitment ... Read the full article
Lloyd’s makes leadership appointments within EMEA region
1st July 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has appointed Mark Cooper to the newly created role of Head of Market Development for the European Market, and has also named Amit Khilosia as the new Regional Head for Africa. Cooper has been with Lloyd's since 2015 and in his new ... Read the full article
Aon & Oxfam launch blockchain-based insurance for farmers in Sri Lanka
1st July 2019
Re/insurance broker Aon has partnered with Oxfam and insurtech firm Etherisc to launch a blockchain-based insurance platform for smallholder farmers in Sri Lanka. Nearly 200 farmers have been enrolled in the solution, which aims to deliver micro-insurance for paddy field farmers who are at risk of losing their crops due to ... Read the full article
Munich Re’s Serge Calfa joins EC3 Brokers MEA as regional director, treaty
14th June 2019
EC3 Brokers MEA has appointed Munich Re's Serge Calfa to the newly-created role of regional director of treaty, effective June 1st, 2019. In this role, Calfa reports to Steve Hart, Senior Executive Officer, and is based in the company's Dubai office. London-headquartered EC3 Brokers announced the launch of its Middle East ... Read the full article
Allianz (AGCS) appoints new heads of Aviation & Marine
13th June 2019
Allianz Global Corporate & Specialty SE (AGCS) has announced the appointments of Tom Fadden as AGCS Global Head of Aviation and Ulrich Kadow as AGCS Global Head of Marine. Fadden will take over his role with immediate effect from Michael Hansen, while Kadow will succeed current Global Head of Marine and ... Read the full article