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Christina Tom joins AXIS Insurance from Aspen as a Vice President

13th September 2017

AXIS Capital Holdings subsidiary, AXIS Insurance, has named Christina Tom Vice President, Renewable Energy Underwriter, based in San Francisco. Tom joins the firm from Aspen Insurance, and brings experience and expertise in the wind, solar and energy storage risk sector. In her new role she will be responsible for AXIS Insurance's ... Read the full article

Generali to sell Dutch operations to ASR Nederland

13th September 2017

The Generali Group has announced an agreement to sell its entire 98.56% stake in Generali Nederland N.V.(Generali Nederland) and its subsidiaries, to insurance group ASR Nederland.  As part of ... Read the full article

Market conditions suggest increased flow of legacy run-off transactions: GC

13th September 2017

In light of intense competition in the marketplace and the continued influx of capital, the number of transactions in the run-off market will continue to expand, according to Guy Carpenter's (GC) Head of M&A Advisory, Andrew Beecroft. Increasingly active capital management combined with challenging markets across the risk transfer industry is ... Read the full article

Peak Re selects TigerEye for underwriting optimisation

13th September 2017

Hong Kong domiciled reinsurance company, Peak Re, has chosen Applied Insurance Technologies' platform, TigerEye to support its underwriting strategy. The selection of TigerEye will support the reinsurer's management of catastrophe exposures and also support the optimisation of Peak Re's reinsurance portfolio, says the firm. "At Peak Re, we pride ourselves on our ... Read the full article

Everest Re appoints Jonathan Zaffino to Executive Vice President

13th September 2017

Everest Re has announced that Jonathan Zaffino, President of the North America Insurance Division and Senior Vice President of Everest Re, has been appointed Executive Vice President, Everest Re Group, Ltd. Dominic Addesso, President and Chief Executive Officer (CEO) of Everest Re Group, commented on the appointment; “Jon continues to be ... Read the full article

Chubb selects France as post-Brexit EU headquarters

13th September 2017

Should the UK leave the European Union (EU) in March 2019, following the Brexit vote, Chubb Limited plans to locate its EU headquarters in France, subject to receiving the necessary regulatory and other governmental approvals. Chubb has said that it will continue to have a significant presence in London post-Brexit, as well ... Read the full article

The Lloyd’s capital base can be relied upon post-event: Inga Beale, CEO

12th September 2017

We spoke with Inga Beale, Chief Executive of Lloyd's of London at the Monte-Carlo Reinsurance Rendezvous this week, to discuss the current events affecting the market as well as her views on a number of key market issues. We began by asking what the Lloyd's CEO thinks about the impacts of ... Read the full article

Surplus lines market remains “solid” despite 2016 underwriting loss: A.M. Best

12th September 2017

U.S. domiciled surplus lines insurance companies recorded modest premium growth in 2016 combined with an underwriting loss for the second consecutive year, although solid investment income helped the sector record net income of $2.2 billion, according to A.M. Best. Sluggish growth in certain industries and the increasingly competitive landscape, saw underwriters ... Read the full article

Assurant sees up to $140mn Harvey loss, Irma to stay within reinsurance program

12th September 2017

Assurant has announced that it expects hurricane Harvey to result in an estimated pre-tax catastrophe loss of between $134 million to $140 million within its third-quarter results, net of reinsurance. Following the devastating impact of hurricane Harvey in the U.S., companies and the global insurance and reinsurance industry will start to ... Read the full article

“Cyber probably not insurable,” Swiss Re CEO

12th September 2017

While cyber cover has often been heralded as one of the biggest re/insurance opportunities of the future, the Chief Executive Officer (CEO) of reinsurer Swiss Re, has a very different take on the realities of the emerging risk, saying that despite the hype he remains "extremely skeptical about cyber.” Speaking at ... Read the full article

DARAG completes Israeli reinsurance transaction

12th September 2017

Legacy acquirer DARAG has completed an Israeli reinsurance transaction and has received regulatory approval for the acquisition of Ikano Försäkring AB. DARAG finalised the transaction in cooperation with brokers Guy Carpenter and Resolutions Reinsurance Broker DARAG, a leading European legacy acquirer, today announces completion of a pioneering Israeli reinsurance transaction and, both ... Read the full article

Re/insurers’ ignoring certain exposures & soft market creates “perfect storm”, warns XL Catlin

12th September 2017

The absence of a major landfalling hurricane in the state of Florida and across the U.S. has seen some insurers and reinsurers turn a blind eye to certain exposures, which, combined with the ongoing soft market conditions creates "a perfect storm of its own," according to Wade Stier, Underwriter, U.S. ... Read the full article

Harvey to be one of costliest disasters to hit the U.S. on record: Aon Benfield

12th September 2017

Reinsurance broker Aon Benfield's catastrophe risk modelling unit, Impact Forecasting, has said that hurricane Harvey is most likely to be one of the costliest natural catastrophe events on record in the U.S. As part of the unit's latest catastrophe recap report, which looks at the month of August, 2017, hurricane Harvey ... Read the full article

AI could “fundamentally close a lot of the protection gap,” Swiss Re CEO Mumenthaler

12th September 2017

The Chief Executive Officer (CEO) of reinsurance giant Swiss Re, Christian Mumenthaler, believes advanced technology, such as artificial intelligence (AI), can help to close the global protection gap. Addressing an audience during the PwC breakfast at the 2017 meeting of the reinsurance industry in Monte-Carlo, Mumenthaler spoke about the increased digitisation ... Read the full article

Hannover Re expects renewal price increase for hurricane hit areas

12th September 2017

As Hannover Re prepares for upcoming renewals, the reinsurance giant believes the uncertainty left by hurricanes Irma and Harvey will push up prices for segments of North American business as well as create new opportunities for reinsurance as the devastated regions' economic losses highlight the U.S. flood protection gap. Hannover Re ... Read the full article

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