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Reinsurance News

Drones “hugely powerful” for re/insurance; Chubb CEO Evan Greenberg

5th July 2017

Evan Greenberg, Chairman and CEO of Chubb called the use of drones "hugely powerful" for the re/insurance industry. Speaking at the MMC Young Professionals Forum 2017 on Thursday, Greenberg called attention to the potential of drones, the digitalisation revolution, and the importance for the future of the re/insurance industry of preserving the ... Read the full article

Swiss Re names Kreutzer Head of Market Underwriting for Austria, Central & Eastern Europe

4th July 2017

Reinsurance giant Swiss Re has announced that Christian Kreutzer will succeed Andrea Fuchs as Head of Market Underwriting for Austria, Central & Eastern Europe, effective July 1st, 2017. xprimm.com reports that Kreutzer is currently based in Hong Kong, where he led Swiss Re's Facultative P&C team for the Asia-Pacific region from August 2015, ... Read the full article

Federated National completes 2017-2018 catastrophe reinsurance programs

4th July 2017

Federated National Holding Company (FNHC) has announced the completion of its 2017-2018 catastrophe reinsurance programs, at an estimated cost of $180 million, and which provide $2.1 billion of aggregate coverage. Federated National's 2017-2018 reinsurance programs cover both Florida and non-Florida exposures, and are effective July 1st, 2017. This year's program includes ... Read the full article

Crosswinds Re enters into underwriting agreement with TransRe

4th July 2017

Crosswinds Re, the reinsurance subsidiary of Crosswinds Holdings Inc., has announced it's entered into an underwriting services agreement with Transatlantic Reinsurance Company (TransRe), which sees the latter act as a strategic advisor for Crosswinds Re's reinsurance operations. The Underwriting Agreement sees TransRe advise Crosswinds Re on pricing, structuring, risk assessment and ... Read the full article

Liberty Specialty Markets selects Luxembourg as post-Brexit EU domicile

4th July 2017

International provider of specialty and commercial insurance and reinsurance solutions, Liberty Specialty Markets (LSM), has selected Luxembourg as the home of its post-Brexit European operations, the company has announced. The firm has said that after conducting thorough analysis of a number of potential jurisdictions, it will seek the necessary regulatory approvals ... Read the full article

UK government working to secure post-Brexit re/insurance success: Stephen Barclay

4th July 2017

Speaking to the Association of British Insurers, UK Economic Secretary Stephen Barclay said in Brexit negotiations the government would prioritise the "three essential components" of regulatory standards that match international requirements, cooperation between supervisors, and creating permanent and predictable systems that give the business world the stability needed for long-term ... Read the full article

RGA Re joins race to acquire Generali’s Netherlands operations

4th July 2017

Reinsurance Group of America (RGA Re) has reportedly joined the race to acquire the Netherlands operations of insurance giant Generali. Assicurazioni Generali, one of the largest insurance group's in the world, is actively trying to sell its Netherlands and Belgian operations, with RGA Re joining the race to acquire the Dutch ... Read the full article

Marjorie Ngwenya succeeds Colin Wilson as Institute & Faculty of Actuaries president

4th July 2017

South-Africa based Marjorie Ngwenya succeeded Colin Wilson earlier this week as the next annual president of the Institute and Faculty of Actuaries (IFoA). For the past year Ngwenya has been IFoA President-elect, after having volunteered for the institute since she became a fellow in 2006. Ngwenya, whose tenure marks the first time the ... Read the full article

Flood Re helps flood hit homeowners access more insurance options

4th July 2017

Flood Re, the UK's government-backed flood reinsurance scheme, said that it has provided reinsurance to back almost 130,000 insurance policies since its launch and assisted homeowners to get more quotes and options when looking to purchase insurance. At the end of its first full year of operations, Flood Re said that ... Read the full article

Randall & Quilter writes reinsurance policy for U.S. carrier for $6.5 million premium

4th July 2017

Randall & Quilter Investment Holdings has underwritten a collateralised facultative reinsurance policy for a large U.S. P&C carrier for a premium of $6.5 million. The reinsurance was underwritten from a cell within R&Q's wholly-owned subsidiary, R&Q Quest Insurance, with encumbered assets of $8.5 million. Chairman & Chief Executive Ken Randall, commented;"We are pleased ... Read the full article

Lloyd’s new chairman Carnegie-Brown; embrace change or become obsolete

4th July 2017

Speaking at the MMC Young Professionals Forum in his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the re/insurance industry needed to ramp its efforts to change and innovate or risk falling prey to disruption by external players. He drew on challenges of industry disruption from his previous role as ... Read the full article

InsurTech & AI use of data to disrupt re/insurance: Willis Towers Watson

4th July 2017

While InsurTech expands data volume through providing a personalised link to clients, Artificial Intelligence will amplify the value of data sets by extracting more information, generating insights, and analysing and recognising patterns far beyond the capabilities of human intelligence. The use of InsurTech coupled with Artificial Intelligence is reshaping the meaning and ... Read the full article

R&Q completes acquisition of AstraZeneca Insurance

3rd July 2017

Randall & Quilter Investment Holdings has announced the completion of its acquisition of AstraZeneca Insurance Company, AZICO after receiving all necessary approvals from regulators. The global non-life insurer and legacy or run-off reinsurance solutions specialist intends to undertake a Part VII Transfer of AZICO's remaining insurance business to one of the Randall & ... Read the full article

Price Forbes enters Chilean market via stake in Cooper Gay Chile

3rd July 2017

Independent, specialist Lloyd's of London brokerage, Price Forbes Holdings Limited (Price Forbes), has entered the Chilean market via the acquisition of an equity interest in reinsurance broker Cooper Gay Chile, which serves large corporate clients and reinsurance markets in the country. The company's strategic entry into the Chilean marketplace will be led ... Read the full article

Chaucer acquires Australian specialty underwriting agency SLE Holdings

3rd July 2017

Specialist insurer Chaucer has expanded its regional distribution with the acquisition of Sydney-based underwriting agency and Lloyd's coverholder, SLE Holdings. SLE writes specialty property and casualty products, focusing on sports, leisure and entertainment markets. John Fowle, Chief Executive Officer (CEO) of Chaucer, said; "We are delighted to welcome the SLE team to our ... Read the full article

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