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Reinsurance News

Argo Group to simplify organisational reporting

2nd May 2017

International insurer and reinsurer Argo Group International Holdings, Ltd. has revealed that it plans to make changes to its reporting of financial results, with two reporting segments, U.S. operations and International operations. The change looks to simplify how the re/insurer reports its operational results, with the company now reporting on two ... Read the full article

Liberty Mutual completes specialty insurer Ironshore acquisition

2nd May 2017

Liberty Mutual Insurance - one of the largest property and casualty insurer's in the U.S. - has announced the completion of its acquisition of global specialty insurer Ironshore. Liberty purchased the firm from Fosun International for $2.935 billion after receiving regulatory approvals. The transaction took place under the guidance of Barclays Capital as financial ... Read the full article

Fidelis looks to expand niche specialty reinsurance business with backing of new MGA

2nd May 2017

Fidelis Insurance has revealed plans to expand its capabilities in the niche specialty reinsurance sector by backing Hiscox Re executive, Rob Ashton's plans to establish a managing general agent (MGA) in partnership with Nexus. Fidelis has announced that it will sponsor Ashton's new entity, which is expected to start writing business ... Read the full article

Influence of reserves on results to continue to shrink: KBW

2nd May 2017

Reserve releases are expected to continue to bolster the results of North American insurers and reinsurers over the next two years, albeit at a lower rate than previously and with fewer firms expected to benefit as redundancies fall further, according to analysis from Keefe, Bruyette & Woods (KBW). Throughout the soft ... Read the full article

New & enhanced RMS cyber model highlights challenge and opportunity for re/insurers

2nd May 2017

Global catastrophe risk modelling and analytics firm, RMS, has released its updated RMS Cyber Accumulation Management System version 2.0, which further highlights the need for improved cyber insurance and reinsurance solutions. The new and enhanced version 2.0 of the RMS Cyber Accumulation Management System includes a suite of cyber models and ... Read the full article

LMA partners with MGAA to support and develop delegated authorities framework

2nd May 2017

The Lloyd's Market Association (LMA) has partnered with the UK's General Managing Agents' Association (MGAA) to support the LMA's delegated authorities communications framework, the pair have announced. The framework is designed to improve the sharing of information and communications between MGAs and coverholders that underwrite on their behalf, and also third-party ... Read the full article

Validus Holdings completes acquisition of Archer Daniels Midland Crop Risk Services

2nd May 2017

Validus Holdings has further diversified its lines of business with the completion of its Archer Daniels Midland Crop Risk Services (CRS) acquisition. CRS is a primary crop insurance managing general agent (MGA) with $555 million gross premiums written in 2016 and 1,170 agents acting across 36 states. Validus’ Chairman and Chief Executive ... Read the full article

Munich Re announces changes to its North America executive team leadership

2nd May 2017

Munich Re has announced the appointment of Bernard Naumann to President and Chief Executive Officer (CEO) of the reinsurer's Canada (Life) division as well as additional changes to its North America team leadership. In his new role, Naumann will develop the Canadian reinsurance business strategy for Canada and the Caribbean. He previously worked ... Read the full article

U.S. university students launch Bermuda captive insurer

2nd May 2017

In what's believed to be a world first, a U.S. university has launched a Bermuda domiciled student-run captive insurer that will self-insure a number of risks for the university, underlining just how cost-effective the establishment of a captive in Bermuda is and supporting the drive for re/insurance industry talent. The captive ... Read the full article

Patria Re licenses full range of RMS models for LatAm and the Caribbean

28th April 2017

Global catastrophe risk analytics and modelling firm, RMS, has revealed that Latin American reinsurance entity, Reaseguradora Patria (Patria Re), has licensed the full range of RMS catastrophe models and analytics services for Latin America (LatAm) and the Caribbean. Parts of LatAm are extremely exposed to a variety of natural catastrophe events ... Read the full article

Reinsurers should anticipate impact of growing geopolitical risk

28th April 2017

Insurer Zurich and international affairs think tank, Atlantic Council, have cooperated to study three potential major geopolitical scenarios that could shake the global economy; ensuring risk management professionals and governments remain one step ahead of the mitigation and response game. With a changing geopolitical sphere being a hallmark of recent years, ... Read the full article

Munich Re hikes dividend, launches new €1bn share buy-back programme

28th April 2017

Munich Re is continuing the trend of returning its excess capital to its shareholders, as the reinsurance firm announces another increase in the dividend it will pay to its shareholders and launched another €1 billion share buy-back programme. In 2016 Munich Re paid its investors a dividend per share of €8.25. ... Read the full article

Experienced reinsurance lawyer, Anne Foster, called to the Bermuda Bar

28th April 2017

Experienced reinsurance lawyer, Anne Foster, has been called to the Bermuda Bar, and has been appointed as Senior Counsel of the dispute resolution team at ASW Law Limited (formerly Attride-Stirling & Woloniecki). Foster joined ASW Law Limited in November 2015 after practicing for more than two decades as an international dispute lawyer ... Read the full article

Nicolas Aubert reappointed as London Market Group Chair

28th April 2017

Nicolas Aubert, Head of Great Britain for insurance and reinsurance brokerage Willis Towers Watson, has been reappointed as the Chair of the London Market Group (LMG). Nicolas Aubert commented “I am delighted that I can continue to lead the LMG for another year and would like to thank the Board for ... Read the full article

Ergo on track to return to profitability: Munich Re CEO, Wenning

28th April 2017

Joachim Wenning, who recently commenced his role as Chief Executive Officer (CEO) and Chairman of the Board at reinsurer Munich Re, has expressed support for the company's primary insurance division, Ergo. In recent times investors have expressed concern with the performance of the Ergo unit, which provides a comprehensive range of insurance ... Read the full article

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