Reinsurance News

JLT Specialty USA expands Environmental Practice with Senior Broker hire

9th May 2017

Insurance and reinsurance broker JLT Group's U.S. subsidiary, JLT Specialty USA, has expanded its Environmental team with the addition of Grant Nichols, as Senior Vice President (SVP). Based in Philadelphia, Nichols joins the firm's Environmental Specialty Group as a Senior Broker with a focus on complex environmental insurance programmes. Mike Rice, Chief ... Read the full article

Munich Re & Lincoln Financial partner to bring new life insurance opportunities to the U.S.

8th May 2017

Germany domiciled reinsurance giant Munich Re has partnered with Lincoln Financial Group to develop new life insurance opportunities for Americans with hepatitis C, in light of recent medical advances. The industry-first partnership sees the pair enable the offering of more favourable underwriting ratings for the majority of people afflicted with hepatitis ... Read the full article

IRDAI establishes expert panel to review India’s reinsurance framework

8th May 2017

India's insurance and reinsurance industry regulator, the Insurance Regulatory and Development Authority of India (IRDAI), has established a Reinsurance Expert Committee to review the country's reinsurance framework. The new committee will be Chaired by ex-IRDAI member M Ramaprasad, and other panel members include Lloyd's India Chief Executive Officer (CEO), Shankar Garigiparthy, Gen ... Read the full article

Reinsurance Association of America names Adam Kerns VP, State Relations

8th May 2017

Adam Kerns has joined the Reinsurance Association of America (RAA) as Vice President (VP), State Relations, the organisation has announced. Before joining the Association, Kerns held the position of Assistant General Counsel at the American Insurance Association (AIA), Director of Finance at Farmers Insurance Group, and Attorney, Saul Ewing LLP. Commenting on ... Read the full article

Aspen’s O’Kane underlines importance of discipline, efficiency and diversification

8th May 2017

During insurer and reinsurer Aspen's first-quarter 2017 earnings release call, Group Chief Executive Officer (CEO), Chris O'Kane, discussed the challenging reinsurance market landscape, which continues to drive a need for discipline and efficiency. Despite the challenging, softening reinsurance market landscape, Aspen Re, the reinsurance arm of Aspen, recorded a combined ratio ... Read the full article

Insurance Council of Australia adds Lloyd’s & Zurich representatives to Board of Directors

8th May 2017

The Insurance Council of Australia (ICA) has announced that Chris Mackinnon, Lloyd's Australia Ltd's General Representative in Australia and Rajbir Nanra, Chief Executive Officer (CEO), General Insurance, Zurich Financial Services Australia Ltd, have joined the ICA Board of Directors. The new appointments takes the number of non-executive directors to 11, the ... Read the full article

Bermuda’s Women in Reinsurance welcomes three new board members

8th May 2017

The organisation dedicated to promoting the professional development of women working in Bermuda's reinsurance market, Women in Reinsurance (WiRe), has today announced the appointment of three new board members - Tracey Gibbons, Peta White and Stephen Young. Kathleen Reardon, Chair of WiRe and Chief Executive Officer (CEO) of Hamilton Re, welcomed the ... Read the full article

Chubb announces successful integration of key EU operating units

5th May 2017

Following the acquisition of Chubb Corporation by ACE Limited in 2016, Chubb has announced the completion of the integration of key European operating companies. In Europe, and on May 1st 2017, the insurance operations of Chubb Insurance Company of Europe SE was successfully transferred to ACE European Group Limited and, in ... Read the full article

BDA launches Bermuda risk directory portal

5th May 2017

Bermuda's Business Development Agency (BDA), in partnership with professional services firm Deloitte, has launched a new Bermuda risk directory web portal. The new service is designed to provide brokers with easy access to a full range of insurance and reinsurance services, and has been described as an updated and relaunched version ... Read the full article

Re/insurers optimistic about investment and asset management opportunity: Goldman Sachs

5th May 2017

Goldman Sachs' latest insurer asset management survey reveals a dramatic change in the usual credit cycle for inflation, rates and equity returns, with only one-third of insurers now believing they're in the late stages of the credit cycle, compared with last year's three quarters of correspondants. This represents a reversal in ... Read the full article

Tokio Millennium Re CEO discusses refined capital markets strategy & broader reinsurance market trends

5th May 2017

Stephan Ruoff, Chief Executive Officer (CEO) of Tokio Millennium Re (TMR), discussed the firm's main target markets and operating strategies in a recent interview with Reinsurance News. Ruoff highlighted the firm's commitment to income diversification through gaining momentum in two major areas, and also discussed the rise of InsurTech, the global political ... Read the full article

Munich Re’s HSB Ventures leads $29mn Next Insurance capital raise

5th May 2017

Munich Re's venture capital subsidiary, HSB Ventures, has led a $29 million Series A round of funding for Next Insurance, an online insurance platform designed for small to medium sized businesses. Reinsurance giant Munich Re's HSB Ventures led the capital raise alongside Markel, Nationwide, and other existing investors, says Next Insurance. "The small ... Read the full article

AGCS appoints new offshore energy underwriter in London

5th May 2017

Allianz Global Corporate & Specialty (AGCS), a division of insurer and reinsurer Allianz, has announced the appointment of Zoe Massie as Offshore Energy Underwriter, based in the firm's London energy team. In her new role Massie will report to Tracey Hunt, AGCS Regional Head of Energy, London. Massie started her insurance ... Read the full article

Global microinsurance sector to experience CAGR of 8.2%: Report

5th May 2017

The international microinsurance market is predicted to grow at a compound annual growth rate (CAGR) of 8.2% during 2016 to 2020, suggesting that more of the world's poorest, and most vulnerable will have access to invaluable insurance protection, according to new research. Microinsurance solutions target low-income households and farmers, among other ... Read the full article

Liberty Mutual to combine LIU U.S. & Ironshore’s specialty U.S. operations

5th May 2017

Liberty Mutual Insurance (LMI) has revealed that following the completion of its takeover of Ironshore from Fosun International, Liberty International Underwriters' (LIU) existing U.S. business will combine with Ironshore's U.S. specialty lines business under the Ironshore brand. Based on 2016 direct written premiums, the combination of the two units under the ... Read the full article

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