Reinsurance News
Your search for “africa”
Alesco launches $3.5bn energy reinsurance facility for Equatorial Guinea
21st March 2019
Alesco Risk Management Services, the specialist insurance and risk management broker, has been appointed by Africa Reinsurance Corporation (Africa Re) to arrange a reinsurance facility for all international upstream energy insurance programs written from Equatorial Guinea. The commission of the $3.5 billion facility, which will largely be placed through Lloyd’s, adheres ... Read the full article
Mutual insurance sector grows global market share to 27%: ICMIF
20th March 2019
The mutual and cooperative insurance market significantly outpaced the growth of the total global insurance industry over the last 10 years, increasing its market share from 24.0% in 2007 to 26.7% in 2017. This is according to the findings of a recent report by the International Cooperative and Mutual Insurance Federation ... Read the full article
A.M. Best will continue to provide ratings in UK & EU after Brexit
20th March 2019
A.M. Best has confirmed that it expects to be able to continue providing credit ratings that can be used for regulatory purposes in both the UK and European Union (EU) after Brexit. The rating agency incorporated a new subsidiary in Amsterdam last year and secured credit rating agency (CRA) registration with ... Read the full article
Allianz (AGCS) makes senior adjustments
19th March 2019
Allianz’ corporate insurance carrier, Allianz Global Corporate & Specialty (AGCS), is appointing its current Chief Underwriting Officer, Corporate, Hartmut Mai to the Board role of AGCS Chief Regions and Markets Officer for the company’s three strategic business units: Central & Eastern Europe (CEE), Mediterranean and Africa. This announcement comes as AGCS ... Read the full article
Re/insurance M&A slowdown expected in 2019: Clyde & Co
15th March 2019
Mergers and acquisitions (M&A) activity in the global re/insurance sector increased by 9% in 2018, but political and economic uncertainty is expected to cause a temporary slowdown over the next six months, according to analysts at Clyde & Co. The law firm recorded 382 M&A transactions in 2018, up from 350 ... Read the full article
Swiss Re is focused on social value of protection gap: Moses Ojeisekhoba
15th March 2019
While closing the global protection gap offers huge potential for the re/insurance industry to grow its premium base, Swiss Re is focused primarily on the value of building resilience at both the individual and societal level, according to Moses Ojeisekhoba, the company's CEO of Reinsurance. Speaking during a lecture in the ... Read the full article
Willis Towers Watson names Head of Power and Utilities for CEEMEA region
14th March 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has appointed Mark Hiles as Head of Power and Utilities for the Central and Eastern Europe, Middle East and Africa (CEEMEA) region. Hiles will be responsible for developing client solutions and driving business growth in the power and utilities sectors across the ... Read the full article
Tropical cyclone Idai targets Mozambique as Cat 3 equivalent storm
13th March 2019
Tropical cyclone Idai is churning across the Mozambique Channel as an intensifying tropical storm with sustained winds of around 105 mph, but conditions look set to allow Idai to intensify further, with experts warning of a category 3 equivalent landfall. Tropical cyclone Idai has intensified steadily over warm waters and with ... Read the full article
PartnerRe reorganises P&C structure & leadership as Goldie departs
13th March 2019
Bermuda-based reinsurer PartnerRe has announced a raft of changes at the top of its property and casualty reinsurance leadership team, as Charles Goldie, CEO P&C, is set to depart the firm. PartnerRe said it will reorganise the structure of its Property & Casualty (P&C) business segment, taking a regionally focused approach ... Read the full article
Chubb appoints Mark Hammond as Treasurer
5th March 2019
Global insurer Chubb has announced the appointment of Mark Hammond as Treasurer, effective March 1. He replaces Ken Koreyva, a Chubb Group Senior Vice President who will step down from his current position and assume a new senior advisory role. Hammond currently serves as Executive Vice President and Chief Financial Officer for ... Read the full article
Re/insurers need to address gradual, regional impacts of global warming: Jeworrek, Munich Re
1st March 2019
It's neither possible or wise for insurers and reinsurers to speculate and make price changes in models to account for global warming that people think will occur in two decades time, according to Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance, Munich Re. In light of increased catastrophe losses in both ... Read the full article
Growth in protectionism & geopolitical tensions to impact re/insurers: Marsh
28th February 2019
Rising geopolitical tensions and protectionist sentiments, in combination with ongoing trade disputes, and resulting in increased uncertainty and risk for multinationals such as re/insurers, according to Marsh, particularly for those with direct foreign investments. Marsh’s Political Risk Map 2019 rated more than 200 countries and territories on the basis of short ... Read the full article
SCOR Global Life makes senior promotions across Global Markets & Finance teams
27th February 2019
SCOR Global Life, a division of the France-headquartered reinsurer, has announced a series of senior appointments across its Global Markets and Finance and R&D teams. Within the Global Markets team, these include the promotions of Miguel Alferieff to Executive Head of Client Relationships and Roy Chappell to Executive Head of Proposition. Alferieff ... Read the full article
Markel adds trade credit underwriter from Coface
15th February 2019
Specialist re/insurer Markel International has announced the appointment of Ramzi El Kadi as an underwriter within its trade credit, political risk and surety operation in Dubai. El Kadi brings five years’ experience in the trade credit insurance industry and was most recently the credit risk underwriter at Coface, Dubai. “2018 was a ... Read the full article
M&A surge to diminish amid mounting political uncertainty: Clyde & Co
13th February 2019
The global insurance industry saw Mergers and Acquisitions (M&A) surge 9% in 2018 to 382 deals, marking three consecutive six-month periods of growth for the first time since 2009, according to a report from law firm Clyde & Co. The Americas remained the most active region for M&A with 189 deals ... Read the full article