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Reinsurance News

AXIS Insurance appoints Jim DeSimone to Senior Vice President of Primary Casualty

29th June 2017

AXIS Insurance - a segment of AXIS Capital Holdings Limited - has hired James (Jim) DeSimone as Senior Vice President of Primary Casualty. In his New-York based role, DeSimone will manage the underwriting team responsible for Primary Casualty in the Northeast and Midwest regions and report to Janet Jordan-Foster, Executive Vice President of ... Read the full article

InsurTech recognised as threat to re/insurance revenues by 86% in survey

29th June 2017

Of respondents to a new survey on attitudes to the adoption of technology in financial services, a huge 86% of insurance and reinsurance company executives questioned said that believe InsurTech threatens at least 20% of their revenues. PwC’s 2017 Global FinTech survey found that the insurance and reinsurance sector ... Read the full article

Florida Hurricane Catastrophe Fund saves on 2017 reinsurance placement

28th June 2017

Acting on behalf of the Florida Hurricane Catastrophe Fund (FHCF), the State Board of Administration (SBA) announced its completed reinsurance placement, ahead of the 2017 hurricane season, to help provide its statutory maximum limit of $17 billion of fully liquid funding. The FHCF liquidity breakdown consists of $14.9 billion in cash, the ... Read the full article

Sompo Canopius hires credit & political risk underwriter from AmTrust

28th June 2017

Global specialty insurance and reinsurance firm Sompo Canopius AG has announced the hiring of Tim Watson from AmTrust to be a credit & political risk underwriter for the company, effective immediately. Watson comes to Sompo Canopius from his most recent role as a political risk and credit underwriter at AmTrust at ... Read the full article

MS Amlin to shift EU business to Belgium in wake of Brexit

28th June 2017

Global specialist insurance and reinsurance firm MS Amlin is to shift and redomicile its European business from London to Belgium, as a response to Brexit, although the firm's global headquarters will remain in the UK. The Amlin Insurance Societas Europaea (S.E.) (“AISE”) business will move to Belgium, a country where MS ... Read the full article

Ogden rate & market innovation: UK Economic Secretary Steven Barclay

28th June 2017

The UK Economic Secretary Steven Barclay said yesterday in a speech at the Association of British Insurers conference, the government is consulting on how to set the Ogden rate for England and Wales, to ensure a "better and fairer system for claimants and defendants." Barclay said; "We are currently considering the ... Read the full article

RenRe co-founder Currie appointed to Executive Chairman of Ascot Group

28th June 2017

Bermuda-based Ascot Group Limited (AGL) has announced Neill Currie's appointment to Executive Chairman, with effect from 21st June. In his role as Executive Chairman, Currie will work with AGL’s management and board of directors to grow its operations and capabilities. Prior to his appointment, Currie was co-founder and CEO of RenaissanceRe Holdings ... Read the full article

Antares promotes three to Lloyd’s managing agency board

28th June 2017

Antares, the Qatar Insurance Company owned Lloyd's of London managing agency, has announced some promotions and the appointment of three employees as new board members. The appointments have been made to "meet the evolving needs of the managing agency and promote internal talent," the company said. David Hobbs has been promoted to ... Read the full article

Innovative risk distributors as winners in the tech-age: John Doyle, Marsh

28th June 2017

Speaking at the MMC Young Professionals Forum, President of Marsh LLC, John Doyle, highlighted distributors of risk as winners of the tech-driven future saying that as the industry faces disruption middle market distribution will make gains as it "continues to consolidate." Doyle called attention to data and distribution as major drivers of change ... Read the full article

Munich Re partners with Community Association Underwriters of America

28th June 2017

Reinsurance giant Munich Re is partnering through its U.S. Specialty Markets branch with the Community Association Underwriters of America (CAU), a managing general agency and division of Alliant Specialty Insurance Services. From July, Munich Re's US-affiliated carriers will insure CAU’s existing business and also offer its client base a number of ... Read the full article

DWF appoints Antony Woodhouse to partner of its city insurance team

28th June 2017

International legal business DWF LLP has appointed Antony Woodhouse, joining from Gowling WLG with a specialisation in international and cross-border disputes, to partner of its City insurance team. Woodhouse boasts extensive experience as an advisor for re/insurers, Lloyd's syndicates and intermediaries in litigation, mediations and arbitration as well as Bermuda Form matters. His ... Read the full article

Ed hires James Blacker as MD property and casualty from AJG

28th June 2017

Reinsurance brokerage Ed has announced the hiring of James Blacker from rival Arthur J Gallagher, who will join the firm as managing director of its property and casualty P&C division. Blacker will begin in the role in December and will report to Chris Bonard, CEO of Ed Specialty. He has more than ... Read the full article

Reputational risk from cyber “kills modern businesses” – Inga Beale, Lloyd’s

28th June 2017

Inga Beale the Chief Executive of the Lloyd's of London insurance and reinsurance market has warned today that it is reputational risks and fallout from a cyber breach that "kills modern businesses." With the recent WannaCry ransomware attacks, and the ongoing impacts of Petya or PetrWrap which is a current attack, ... Read the full article

Solvency II disclosures show EU captives generally strong: A.M. Best

28th June 2017

According to rating agency A.M. Best, the Solvency II disclosures published by European captive insurance companies show that the captives in the region are generally healthy and strong. A.M. Best analysed the Solvency and Financial Condition Reports (SFCR) published by its rated European captives and has also met with captive managers ... Read the full article

China safeguards its green energy revolution with index insurance: Swiss Re

28th June 2017

Along with wind and sun, China has harnessed the power of insurance to catalyse its clean energy revolution, after having successfully pioneered government led re/insurance partnerships to safe-guard regional development with an index insurance scheme that makes a post-disaster payout to local government. China is the world's largest producer of renewable energy ... Read the full article

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