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Reinsurance News – Friday 2nd December 2016

2nd December 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Friday 2nd December 2016:

Krefta to become CEO of Hiscox Bermuda, Hiscox Re & ILS

Insurer and reinsurer Hiscox has announced that Jeremy Pinchin is to return to London, and leave his position as CEO of Hiscox Bermuda and CEO of Hiscox Re and ILS, and will be replaced by current Hiscox Re CUO, Mike Krefta.

Swiss Re to access risk pools and target new growth areas

Reinsurance giant Swiss Re has reaffirmed its financial targets in a recent statement, stating that it would focus on utilising research and development to increase access to emerging growth regions.

Hedge fund reinsurers’ Q4 returns differ, but positive so far in 2016

The investment performance of hedge fund reinsurers continues to differ in the fourth quarter. However, both Greenlight Re and Third Point Re have reported year-to-date investment gains.

Talbot Underwriting hires cyber team

Validus Holdings subsidiary, Talbot Underwriting Ltd, has announced the appointment of a new team of cyber underwriters. This includes Phil Mayes as a Senior Class Underwriter, and Gillian Anderson as Class Underwriter.

25% of re/insurers will use capital markets more in 2017: Guy Carpenter

According to a recent survey produced by reinsurance broker Guy Carpenter, 25% of insurers and reinsurers have said that they will increasingly use the capital markets in 2017.

Hannover Re US enters into strategic partnership with Sureify Labs

Hannover Re US has entered into a strategic partnership with insurtech company Sureify Labs, Inc, that will see Hannover Re’s hr | ReFlex underwriting solution be integrated with Sureify’s LifeTime Platform.

Market unprepared for ‘silent’ cyber loss aggregation: Welsh, Sciemus

Rick Welsh of Sciemus recently explained that the majority of insurance and reinsurance companies are not sufficiently prepared to address the growing threat of ‘silent’ cyber attacks.

David Dwortz named President of Liberty Mutual’s Helmsman Management

Liberty Mutual Insurance has hired David Dwortz as president, Helmsman Management Services, the company’s third party claims administrator.

LMG launches online portal for Target Operating Model programme

The London Market Group (LMG) has launched an online portal for its Target Operating Model programme, that will enable a greater number of brokers and service companies to submit premiums electronically.

Distribution must evolve with reinsurance industry: Experts

Speaking at a recent industry event, reinsurance experts explained that as the reinsurance industry continues to evolve so to must distribution efforts.

ILS NYC 2017 conference – Feb 3rd, New York

A thoughtfully curated annual insurance-linked securities event in New York City from Artemis. Featuring ILS & reinsurance industry leaders speaking on forward-thinking, engaging topics.

Chaucer expands treaty team in Singapore with Class Underwriter hire

Lloyd’s insurer Chaucer has announced the appointment of Ong Chee Koon as Class Underwriter, within its newly expanded treaty team in Singapore.

Marsh acquires Presidio Benefits Group

Marsh & McLennan Agency has acquired employee benefits consulting firm Presidio Benefits Group, although terms of the deal are yet to be disclosed.

Till Capital issues new normal course issuer bid

Till Capital Ltd. has initiated a new normal course issuer bid, in which it intends to bid for up to 262,860 common shares, or 10% of the shares that make up the company’s public float.

Is climate change exacerbating extreme weather events in the U.S.?

A report has explored the increased frequency of tornadoes and severe thunderstorms in the U.S., questioning whether climate change is a driver.

Mercer acquires Pillar Administration

Marsh & McLennan Companies subsidiary, Mercer, has announced the acquisition of Pillar Administration, making it one of the largest outsourced superannuation providers in Australia.

North Carolina State of Appellate Court discusses impact of reinsurance on homeowners’ rates

The North Carolina State of Appellate Court recently addressed the impact of reinsurance costs for catastrophe losses on homeowners’ insurance rates.

Chinese insurers may grow outbound investment by $100 billion

According to industry reports Chinese insurers may increase outbound investment by roughly $100 billion over the next three years.

Microinsurance drives growth in Uganda’s insurance industry

Reports from the region claim that the Uganda insurance sector recorded growth of 10% when compared to the previous year, with demand for microinsurance driving the majority of the growth.

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Reinsurance News – Thursday 1st December 2016

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