Reinsurance News
Your search for “munich re”
Insurtech funding surges in 2018 as key players expand: Deutsche Bank
8th February 2019
Insurtech investment volumes increased by more than 60% between 2017 and 2018, while key players such as Lemonade and Amazon also expanded their operations over the year, according to analysts at Deutsche Bank. Deutsche Bank data shows that insurtech investments (across all stages) totalled US $2.6 billion during the first three ... Read the full article
PERILS finalises storm Friederike industry loss at €1.672bn
17th January 2019
Catastrophe loss data aggregator PERILS has released its final re/insured loss estimate for Extratropical Cyclone Friederike, also known as David, putting the total at €1.672 billion (US $1.91 billion). In keeping with PERILS’ reporting schedule, the final loss figure was released 12 months after the original event, and represents a slim ... Read the full article
WTW estimates industry cat losses at $71.5bn for 2018
16th January 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has estimated that major natural catastrophes cost the re/insurance industry $71.5 billion in 2018, with losses primarily driven by smaller events. This figure is only slightly above the annual average since 2011 but the third-highest total during this period, according to WTW’s ... Read the full article
AXIS Capital Chairman Michael Butt OBE inducted into Insurance Hall of Fame
3rd January 2019
Bermudian re/insurance group AXIS Capital Holdings has announced the induction of its Chairman, Michael Butt OBE, into the Insurance Hall of Fame by the International Insurance Society. Butt, who has also been named the 2019 Insurance Hall of Fame Laureate, is to be honoured at the IIS Global Insurance Forum’s Gala ... Read the full article
Hardening rates expected as industry losses exceed 20 year average: Barclays
24th December 2018
Reinsurers look set to shoulder another quarter of “extraordinary” natural catastrophe losses following increases in industry estimates for the California wildfires and hurricane Michael, leading to hardening rates in 2019, according to analysts at Barclays. They expect a 1-3% increase for large players and believe this year’s industry losses may reach ... Read the full article
AkinovA adds Tokio Marine’s Daljitt Barn to Advisory Board
13th December 2018
AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Daljitt Barn to its Advisory Board. Barn is the Global Head of Cyber Risk for Tokio Marine Group and an industry leader in cyber insurance and cyber risk, combining insurance value-chain expertise with a ... Read the full article
Plug and Play invests in drone Insurtech firm Betterview
21st November 2018
Plug and Play, a Silicon Valley-based innovation platform and venture fund that specialises in the development of early-to-growth stage technology startups, has revealed plans to invest in Betterview, an InsurTech and drone start-up firm backed by Munich Re and Maiden Re. Betterview said that it plans to use the funding to ... Read the full article
Generali to stop insuring new coal plants
12th November 2018
Italian insurance giant Generali has stepped up its pledge to underwrite more sustainable business and commit to 'green' investments by ceasing to offer coverage for new coal mines and plants. Generali had previously announced an underwriting commitment to increase the percentage of its premium portfolio related to the renewable energy sector, ... Read the full article
Protective names Jay Nichols as Interim CEO
19th October 2018
Protective Insurance Corporation (formerly Baldwin & Lyons, Inc.) has appointed Jay Nichols as Chairman of the Board and Interim Chief Executive Officer (CEO) following the resignation of the company's CEO, President and Chief Operating Officer (COO) W. Randall Birchfield. Nichols served as CEO of global property and casualty (P&C) reinsurer AXIS ... Read the full article
Liberty adds cyber underwriter to Zurich office
16th October 2018
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Roland Heinesch to serve in a newly-created cyber underwriter role in its Zurich office. Reporting to Felix Böni, Switzerland General Manager, Heinesch will be responsible for the development of LSM’s cyber book in the region. Prior to joining Liberty in ... Read the full article
Hawaii braces for $8bn property damage as Hurricane Lane approaches
23rd August 2018
More than 48,000 homes are threatened with flood damage as Hurricane Lane bears down on the U.S state of Hawaii, with total reconstruction costs expected to total around $8 billion, according to catastrophe risk modelling specialist CoreLogic. While unlikely to make a direct landfall, Hurricane Lane became a strong Category 5 ... Read the full article
Swiss Insurtech start-up wefox expands into Italy
7th August 2018
Switzerland-based Insurtech start-up wefox has revealed plans to continue its European expansion into Italy via a new partnership with Italian insurance brokerage Mansutti S.p.A, in addition to new products and a new company, to be incorporated next year. The expansion comes just three years after wefox launched in Switzerland and Germany, ... Read the full article
Drone InsurTech firm Betterview develops new AI driven roof analysis product
1st August 2018
Betterview, an insurance technology and drone start-up firm that is backed by Munich Re and Maiden Re, has launched a new product that uses artificial intelligence (AI) to analyse the characteristics and risks of a property and its roof, called Property Profile. Property Profile uses satellite imagery and historical weather data ... Read the full article
RiskBlock Alliance moving to same distributed ledger platform as B3i
6th July 2018
The RiskBlock Alliance, a blockchain consortium for the risk management and re/insurance industry, has selected R3's Corda platform to build its first set of use cases, reports CoinDesk. The news follows a recent announcement from the Blockchain Insurance Industry Initiative (B3i) that it has switched away from Hyperledger Fabric’s blockchain to Corda, ... Read the full article
Hamilton Insurance Group appoints Daniel Fisher as Group Head of HR
5th July 2018
Bermudian holding company Hamilton Insurance Group has announced the appointment of Daniel Fisher as Group Head of HR. The London-based role will see Fisher take on the development of the Company’s human resources function, as well as a strategy for recruiting and retaining the talent to support Hamilton’s growth objectives. He ... Read the full article