Reinsurance News

Reinsurance News – Tuesday 13th December 2016

13th December 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Tuesday 13th December 2016:

Guy Carpenter appoints Nash to lead new International division

Reinsurance broker Guy Carpenter has announced the appointment of James Nash to President, in a newly established international division.

Aspen Re renews Silverton Re sidecar for 2017

Aspen Reinsurance recently announced that it has renewed its Silverton Re collateralised reinsurance sidecar, at a size of $130 million for the 2017 underwriting year.

French regulator takes measures to attract UK re/insurers post-Brexit

French regulator the AMF and the banking and insurance supervisor (ACPR) have released a joint statement that appears to attempt to attract UK insurance and reinsurance firms to the region following the Brexit vote.

Munich Re Chairman von Bomhard enters Insurance Hall of Fame

Chairman of the Board at reinsurance giant Munich Re, Nikolaus von Bomhard, has been revealed as the 2017 Insurance Hall of Fame Laureate, by the IIS.

Tokio Solution re-arranges leadership, announces Lane departure

Tokio Solutions Management has announced that it has rearranged its senior leadership, which includes the departure of Co-CEO Susan Lane.

Croatia’s Osiguranje approved to execute reinsurance business

Croatian insurer Croatia Osiguranje recently revealed that it has received approval to complete reinsurance transactions with its non-life insurance division.

Continental Reinsurance announces new non-exec Chairman

Continental Reinsurance has appointed Chief Ajibola Ogunshola as the company’s new non-executive Chairman, effective November 8th 2016.

Capital markets a “competitive necessity,” says Mt. Logan’s Rick Pagnani

The CEO of Everest Re’s Mt. Logan Re sidecar, Rick Pagnani, has underlined the “competitive necessity” of re/insurers utilising the capital markets to optimise their balance sheet.

Generali names Sesana Country Manager Italy, and Ryan as Group CIO

Insurer Generali has announced the appointment of Marco Sesana as Country Manager, Italy. The company also announced the appointment of Timothy Ryan as Group CIO.

December quake in Indonesia caused $67 million in damages

The earthquake that struck Indonesian district Pidie Jaya Regency on December 7th, caused damages in the region amounting to roughly $67 million, according to reports from the region.

Lloyd’s threatens to blacklist Nigerian airlines over unpaid premiums

Specialist Lloyd’s of London insurance and reinsurance marketplace has threatened to blacklist domestic airline companies in Nigeria over failure to pay insurance premiums.

Validus Chairman & CEO Noonan sells 273,000 shares of common stock

Validus Holdings’ Chairman and CEO Edward J. Noonan recently sold 273,000 shares of the firm’s common stock, in order to satisfy outstanding tax obligations.

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.

Bill could see Florida companies forgo buying of workers comp

According to reports a lawmaker in Florida has introduced a bill that would enable companies in the state to forgo buying workers compensation insurance protection.

Central American premium growth driven by Costa Rica, Nicaragua: Fitch

Global ratings agency Fitch Ratings has said that insurance premium growth in Central America is expected to come from Cost Rica and Nicaragua.

Updyke to lead Chubb’s commercial insurance business in Northeast & Mid-Atlantic

Chubb has announced the appointment of Jeffrey Updyke to Lead its commercial insurance business in the Northeast and Mid-Atlantic regions.

Michael Consedine named new CEO of NAIC

Michael F. Consedine has been revealed as the CEO of the National Association of Insurance Commissioners (NAIC), effective early 2017.

South Korea’s insurance sector recorded 5.9% growth last year

Research organisation, the Korea Insurance Development Corp, has said that South Korea’s insurance industry recorded growth of 5.9% last year, to $267 billion.

Iran insurer Parsian to payout $6.8 million following Semnan train crash

Parsian Insurance Co. of Iran is to pay approximately $6.8 million in damages to victims of the Semnan train crash, where more than 40 people died and over 100 others injured.

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Guy Carpenter appoints Nash to lead new International division

Reinsurance broking group Guy Carpenter has announced the appointment of long-time employee James Nash to the role of President, in...