Reinsurance News

Foreign reinsurers may need to restructure South African operations

20th December 2016

Foreign reinsurance companies operating in South Africa may find that they need to restructure their operations and the way they access the marketplace, in the wake of substantial changes from a recent Insurance Bill. Due to the enacting of this Insurance Bill there will be a tightening on the prohibition of ... Read the full article

Reinsurance News – Tuesday 20th December 2016

20th December 2016

Here’s your daily Reinsurance News for Tuesday 20th December 2016: Bart Hedges leaving Greenlight Re, to step down as CEO & from board The CEO of hedge fund reinsurer Greenlight Re, Bart Hedges, is to step down from his position as of March 31st 2017, and also from his Board ... Read the full article

Doran to join James River Group as CFO, leaving Allied World

20th December 2016

Sarah Doran is joining Bermuda based insurance and reinsurance holding company James River Group Holdings, Ltd. as Chief Financial Officer in the New Year, leaving her current role at Allied World Assurance Company Holdings, AG. Doran has been with Allied World, the re/insurer that is set to merge with Prem ... Read the full article

JLT adds new office in New York for Reinsurance, Specialty, Capital Markets

19th December 2016

Jardine Lloyd Thompson Group plc (JLT), a leading insurance, reinsurance and employee benefits advisor, brokerage and service provider, has announced a move to a new office space in New York for its specialty, reinsurance and insurance capital markets units. JLT will be moving over 100 employees from its JLT Specialty USA, ... Read the full article

Greenlight Capital Re announces Hedges to step down as CEO

19th December 2016

Greenlight Capital Re, Ltd., the Cayman Islands domiciles specialist property and casualty reinsurance firm that is backed by hedge fund manager David Einhorn, has announced that its CEO and Board member Bart Hedges will be stepping down as of March 31st 2017. Leonard Goldberg, a former Chief Executive Officer at Greenlight ... Read the full article

JLT Re acquires StoneHill Reinsurance Partners, LLC

19th December 2016

Reinsurance brokerage JLT Re, a subsidiary of Jardine Lloyd Thompson Group (JLT), has announced the acquisition of StoneHill Reinsurance Partners, LLC (StoneHill), a reinsurance intermediary that specialises in Medical Professional Liability business. StoneHill was established in 2012 by Dan Koshiol as an independent casualty reinsurance brokerage, based in Minneapolis, Minnesota, with a ... Read the full article

Fairfax – Allied World deal suggests more reinsurance consolidation: KBW

19th December 2016

The announcement of the pending merger of Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited and specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, suggests that more consolidation is on the cards, according to analysts. "We think this announcement both confirms and ... Read the full article

Reinsurance News – Monday 19th December 2016

19th December 2016

Here’s your daily Reinsurance News for Monday 19th December 2016: Fairfax Financial buying Allied World for $4.9bn Canadian P&C insurer and reinsurer Fairfax Financial Holdings is to acquire Allied World Assurance Company Holdings for $4.9 billion in cash, after the two entered into a merger agreement. Global reinsurers to ... Read the full article

Enstar changes management structure in wake of KaylaRe launch

16th December 2016

Enstar Group Limited recently announced the launch of KaylaRe Ltd., a total return strategy, Bermuda-based, Class 4 reinsurance firm with a global specialty focus and capitalised to the tune of $620 million. Enstar has launched KaylaRe with the assistance of $25 billion Chinese investment management group Hillhouse Capital Management, Ltd, with ... Read the full article

Reinsurance News – Friday 16th December 2016

16th December 2016

Here’s your daily Reinsurance News for Friday 16th December 2016: Enstar launches total return reinsurer KaylaRe Insurer and reinsurer Enstar Group has launched a new total return reinsurance entity named KaylaRe Ltd., in partnership with Hillhouse Capital Management, Ltd. & Stone Point Capital LLC., which launches with $620 million of equity ... Read the full article

International Group cites “favourable” marine reinsurance market renewal

15th December 2016

The International Group of Protection & Indemnity Clubs cited the "current favourable state" of the marine reinsurance market at its latest renewal for the 2017/18, saying that has taken opportunity of pricing conditions to save itself money on premiums paid. The International Group said that arrangements for the renewal of its ... Read the full article

Reinsurance Group of America CEO joins Sun Life Financial board

15th December 2016

Greig Woodring, Chief Executive Officer (CEO) of Reinsurance Group of America (RGA), one of the world's leading life reinsurers, has been appointed to Sun Life Financial's Board of Directors effective January 1st, 2017. As well as the addition of Woodring, Sun Life Financial also announced that Stephanie Coyles, a strategic consultant and ... Read the full article

HCI Group names Harmsworth Senior Vice President of Finance

15th December 2016

Florida headquartered insurance and reinsurance focused holding company HCI Group has appointed finance veteran Mark Harmsworth as its senior vice president of finance. Harmsworth has 30 years of experience in a diverse range of finance and operational roles, having held multiple executive-level positions during his career at both publicly and privately ... Read the full article

Reinsurance News – Thursday 15th December 2016

15th December 2016

Here’s your daily Reinsurance News for Thursday 15th December 2016: Reinsurance rates to fall at 1/1, tailored solutions an opportunity: RBC European reinsurers are expected to witness further rate declines at the key January 1st 2017 renewal season, but may find opportunities for better returns in tailored solutions, says RBC ... Read the full article

Istmo Re downgraded on “regulatory intervention” by Panama

14th December 2016

Panamanian domiciled reinsurance firm Istmo Re, or Istmo Compañía de Reaseguros, Inc. to give its full name, has had its Financial Strength Rating downgraed to a Non-Rating Designation of E (Under Regulatory Supervision) from B (Fair) and the Long-Term Issuer Credit Rating to “e” from “bb+” by A.M. Best after ... Read the full article

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