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Willis adds Divisional Director to Financial Solutions Division

13th July 2017

Global insurance and reinsurance broker, Willis Towers Watson, has hired Stephanie Pariot as a Divisional Director within its Financial Solutions Division, which is part of the firm's Global Financial Lines and Corporate Risk and Broking unit. Pariot joins Willis Towers Watson with more than a decade of investment banking experience, having ... Read the full article

National General enters into auto & homeowners quota shares with panel of reinsurers

13th July 2017

National General Holdings Corp. has entered into individual two-year quota share reinsurance arrangements with a number of reinsurers, including Hannover Re, Munich Re and Everest Re, covering its auto and homeowners business lines. The first two-year quota share reinsurance agreement concerns National General's auto business, the Auto Quota Share Agreement, and sees the ... Read the full article

P&C sector underwriting to deteriorate until at least 2020: KBW

13th July 2017

Keefe, Bruyette & Woods (KBW) has warned that rising loss ratios, lower reserve releases, and normalised catastrophe losses will maintain underwriting pressure across the North American Property & Casualty (P&C) sector to at least 2020, in a recent equity research note. KBW analysts have revealed that it's updated its North American P&C ... Read the full article

Reports claim Generali is looking to sell its $50bn German life insurance portfolio

13th July 2017

Reports from Reuters claim that Italian insurer Generali is looking to sell its €44 billion (US$50 billion) German life insurance portfolio, as low-interest rates and more rigorous capital rules across Europe hinder operations. According to Reuters' sources close to the matter, Morgan Stanley is looking at options, which includes the sale ... Read the full article

Premia hails ability to “quickly & quietly deliver” complex reinsurance transactions

13th July 2017

Premia Holdings Ltd. Chief Executive Officer Bill O’Farrell has hailed the company's ability to "quickly and quietly deliver" on complex reinsurance transactions, such as the loss development reinsurance agreement the company completed with AmTrust recently. Premia Re was founded in January as a start-up Bermuda-based property & casualty insurance and ... Read the full article

Ross Bertossi appointed Vice President of Global Underwriting, Chubb

13th July 2017

Ross Bertossi has been announced as the new Vice President of Global Underwriting for Chubb Group, succeeding Jacques Bonneau who is to retire at the end of the year after nearly 40 years in the insurance and reinsurance industry. Bertossi held the position of Executive Vice President, Excess Casualty, North America Insurance ... Read the full article

Beazley receives green light to establish Dublin-based insurer

13th July 2017

The Central Bank of Ireland has authorised specialist insurer Beazley to convert its Dublin reinsurance firm into an insurer, after Beazley requested to transfer insurance transactions to Ireland to protect its European business after the Brexit vote. The reinsurer, Beazley Reinsurance Designated Activity Company (dac) was first established in 2009, with ... Read the full article

Soft reinsurance market a plus for Caribbean insurers: A.M. Best

13th July 2017

Despite intense competition, low-interest rates and persistent soft markets, the majority of rated Caribbean general insurers maintained profitability in 2016, as players took advantage of soft reinsurance market pricing and the benign loss environment, according to A.M. Best. In a recent industry note, analysts at A.M. Best have underlined the extensive ... Read the full article

Philippine re/insurers association to lobby for non-life insurance tax cuts

12th July 2017

The Philippine Insurers and Reinsurers Association (Pira) has announced plans to continue to lobby for lower tax rates for non-life insurers to ensure the insurance market environment is competitive and sustainable over the long-term, the Business Mirror reported. The non-life insurance sector is currently taxed at 27.5%, over five times the ... Read the full article

Stonybrook Capital forms Board of Directors

12th July 2017

Stonybrook Capital has announced the formation of a formal Board of Directors, including two independent directors, John DiGregoria, and Ian Winchester, and three internal directors, Dwight Evans, Ravi Arps, and Joe Scheerer. Each member brings unique experience and perspective to the board in the areas of operations, corporate finance, reinsurance, and capital ... Read the full article

XL Catlin has named Ashish Umre as partner of its Accelerate AI team

12th July 2017

Insurer and reinsurer XL Catlin has added a key Artificial Intelligence (AI) expert, with the appointment of Ashish Umre as the new London-based partner of its Accelerate AI team. Accelerate was set up in November 2016 as XL Catlin's internal innovation team to leverage new technologies to grow market reach, while ... Read the full article

U.S. commercial rate movements continue positive trend in Q2: MarketScout

12th July 2017

U.S. commercial property and casualty (P&C) rates increased by an average of 1% year-on-year in the second-quarter of 2017, on the back of an average 1% increase in the first-quarter of the year, according to MarketScout and Keefe, Bruyette, & Woods (KBW). The average 1% increase witnessed in the second-quarter maintains ... Read the full article

RMS releases new typhoon and earthquake models for Asia-Pacific

12th July 2017

Global risk modeller RMS has released new risk models for the Asia-Pacific region, including what is says are the most sophisticated typhoon models on the market for South Korea and Taiwan, and earthquake models for Singapore, Malaysia, Thailand and Vietnam. The new earthquake models come as a RiskLink® version 17 update, expanding RMS' ... Read the full article

Windhaven renews and expands reinsurance partnership with Greenlight Re

12th July 2017

Miami headquartered personal lines insurer, Windhaven Insurance, has announced the renewal and broadening of its relationship with Greenlight Re, via a $1.1 billion quota share transaction. Since 2011, Windhaven has worked with Cayman Island property and casualty reinsurer, Greenlight Re, with both firms benefitting from the financial and reinsurance partnership. Under the renewal, Greenlight ... Read the full article

Cunningham Lindsey appoints Stephen Foster to UK Marine Technical Director

12th July 2017

Cunningham Lindsey has announced Stephen Foster's appointment to Technical Director of its UK Marine segment, where he'll assume responsibility for handling major and complex marine cargo losses. Foster is set to take up his UK-based role from August 1st, 2017, relocating from his current position as head of the loss adjuster's ... Read the full article

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