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Hamilton Underwriting appoints Robert Patten to Head of Casualty
18th December 2017
Hamilton Underwriting managing agency of Syndicate 3334 and the Lloyd’s operations of Bermuda-based Hamilton Insurance Group has appointed Robert Patten to Head of Casualty. Patten is set to begin on December 11th, and will report to Active Underwriter and Head of Treaty Trevor Carvey. Hamilton Underwriting Limited Chief Executive Officer Dermot O’Donohoe ... Read the full article
U.S. tax reforms could be negative for global re/insurers, but impact limited: Morgan Stanley
8th December 2017
The excise tax and anti base erosion tax included in the U.S. tax reforms could be bad news for global re/insurers, however its impact is expected to be limited as firms adopt new strategies for U.S. business operations, according to Morgan Stanley. The excise tax calls for 20% tax on payments ... Read the full article
Navigators expands European presence with Spain office
6th December 2017
Navigators International has expanded its European presence with the opening of a Spain office, to be headed up by Carlos Peña Kaiser as Country Manager. Using its newly capitalised retail insurer, Navigators International, the carrier hopes to target Spain-domiciled companies. The move comes as part of a strategy of geographic expansion of ... Read the full article
Liberty Specialty Markets appoints Bas Wijnhoven to Senior Underwriter
28th November 2017
Liberty Specialty Markets (LSM) has appointed Bas Wijnhoven to the new role of Senior Underwriter to lead the Directors & Officers (D&O) and Crime segment for the Netherlands. Based in The Hague, he will report to Jona Alblas, Manager of the D&O/FI department. Wijnhoven will lead the development of the commercial D&O ... Read the full article
Ascot Group launches Ascot Re with $1 billion seed capital
27th November 2017
Ascot Group has launched reinsurance division Ascot Re, with a $1 billion seed capital injection, after receiving approval from the Bermuda Monetary Authority (BMA). The reinsurer has an "A" rating by A.M. Best reflecting the strength of its $1 billion capital base, Ascot's performance, and its access to long-term funding through ... Read the full article
Reinsurance mergers & acquisitions (M&A)
21st November 2017
Reinsurance mergers & acquisitions (M&A) This listing of recent major mergers and acquisitions (M&A) deals in the insurance and reinsurance industry is based on core data on recent re/insurance M&A published by rating agency Standard & Poor's and augmented with our own data on M&A transactions. This re/insurance mergers and acquisitions (M&A) ... Read the full article
Cyber coverage to grow fastest in retail and manufacturing industries
17th November 2017
The cyber insurance market has been forecast to reach almost $17 billion by 2023, growing over 20% CAGR between 2017-2023, according to P&S Market Research Global. The Banking Financial Services and Insurance (BFSI) sector has been the largest consumer of cyber insurance, as these companies are more prone to cyber-attacks - ... Read the full article
Everest Re sets up Private Company/ Not-for-Profit business segment
15th November 2017
Everest Re has set up a Private Company/ Not-for-Profit business segment (Private/NFP) in the Everest Specialty Underwriters unit of Everest Insurance, to compliment its expanding Financial Lines division. The Private/NFP team will target small, middle and large Private/Not-for-Profit firms and organisations on a primary and excess basis, delivering innovative solutions across ... Read the full article
Coverys appoints Keith Bryceland to Underwriter of Syndicate 1975
13th November 2017
Medical professional liability insurer Coverys has named Keith Bryceland as Active Underwriter of Coverys Syndicate 1975. Bryceland brings over 25 years of experience to the London-based Syndicate, specializing in underwriting global professional liability insurance and reinsurance. Bryceland most recently served as Senior Underwriter at Chubb Syndicate 2488, underwriting all classes of professional ... Read the full article
Attune appoints Martha Dreiling & Richard Stamets to leadership team
3rd November 2017
Attune has announced two key appointments, naming Martha Dreiling as Head of Analytics and Corporate Operations and Richard Stamets as Head of Underwriting Strategy. Dreiling joins from a role as Senior Vice President of Operations at OnDeck - an online lender for small businesses. In her new role, she'll be responsible to oversee ... Read the full article
Deutsche Bank turns positive on European reinsurers’ pricing outlook
31st October 2017
Deutsche Bank has turned positive on its European reinsurance pricing outlook after hurricanes Harvey, Irma, Maria, and the Mexican earthquakes caused widescale market disruption, with an expected $95 billion global market impact. Deutsche Bank said "this will be by far the biggest individual driver for the quarter and given the magnitude ... Read the full article
23 new members join B3i market testing phase
2nd October 2017
B3i, the blockchain insurance industry initiative, has announced that 23 new entrants have joined its Market Testing program, following the launch of a working market testing prototype at the meeting of the reinsurance industry in Monte-Carlo. The B3i initiative has attracted global interest, and the testing phase is scheduled to start ... Read the full article
Munich Re, HDI, Everest Re, Lloyd’s most exposed to Puerto Rico hurricane loss: KBW
27th September 2017
Analysts at Keefe, Bruyette & Woods (KBW) have provided an updated list of the reinsurers they deem likely to take the biggest share of the losses from hurricane Maria's devastating impact on Puerto Rico. Top of the list of those assuming risk from insurers operating in Puerto Rico is global reinsurance ... Read the full article
Hiscox’s Harvey loss could read-through to others on E&S & flood
19th September 2017
The size of the hurricane Harvey loss estimate that Hiscox pre-announced yesterday could have a negative read-through for the commercial excess & surplus lines insurance underwriters, according to analysts at Credit Suisse. Hiscox pre-announced a loss of around $150 million from hurricane Harvey's impacts on Texas, with the company saying ... Read the full article
Christina Tom joins AXIS Insurance from Aspen as a Vice President
13th September 2017
AXIS Capital Holdings subsidiary, AXIS Insurance, has named Christina Tom Vice President, Renewable Energy Underwriter, based in San Francisco. Tom joins the firm from Aspen Insurance, and brings experience and expertise in the wind, solar and energy storage risk sector. In her new role she will be responsible for AXIS Insurance's ... Read the full article