Reinsurance News
Munich Re’s HSB expands small business cyber cover
28th September 2020
Munich Re subsidiary HSB has announced an expansion of its cyber insurance and loss prevention services for small and mid-size businesses. HSB Total Cyber now includes new coverages for computer attacks, data system upgrades, and system failures from unintentional computer outages. HSB Total Cyber is available to US-based SMBs through independent insurance agents ... Read the full article
Protective to acquire F&I insurer Revolos
28th September 2020
Protective Life Corporation (Protective), a wholly owned US subsidiary of Dai-ichi Life Holdings, Inc., has entered into an agreement to acquire the Revolos family of companies. Headquartered in Atlanta, Georgia, Revolos is a Finance & Insurance (F&I) solutions provider. Protective Asset Protection has been providing F&I solutions to the automotive industry for ... Read the full article
Arcadian targeting up to $125m of premium for 2021, says Third Point Re
28th September 2020
Bermudian reinsurer Third Point Re, who recently announced an investment and partnership with new MGA Arcadian Risk Capital, has said Arcadian will be targeting up to $125 million of premium for 2021. Third Point Re has made a significant capital contribution to Arcadian and will own a minority stake in ... Read the full article
UK Treasury commends ABI commitment to omit grants from BI payments
28th September 2020
The Economic Secretary to the Treasury has written to the Director General of the Association of British Insurers (ABI), Huw Evans, after ABI members confirmed they will not make deductions from business interruption insurance claims payments to account for government grant funds. John Glen welcomed the commitment to omit the Coronavirus ... Read the full article
SterlingRisk promotes Geraldine DelPrete to Chief Marketing Officer
28th September 2020
Independent broker SterlingRisk Insurance has announced the promotion of Geraldine DelPrete to Chief Marketing Officer. DelPrete will oversee the strategy for all carriers across all SterlingRisk platforms, including Large Commercial and Select, Programs, Personal Lines, Environmental, Construction, and Aviation. She will also retain the title of President of Programs, with both the Marketing ... Read the full article
AFG completes Lloyd’s market exit with sale of Neon to RiverStone
28th September 2020
American Financial Group, Inc. (AFG) is set to complete its previously announced exit from the Lloyd's of London re/insurance marketplace via the sale of GAI Holding Bermuda and its subsidiaries, which comprises the legal entities that own its Neon business, to RiverStone Holdings Limited. AFG announced at the start of ... Read the full article
Swiss Re partners with university on work loss due to ill-health
28th September 2020
Swiss Re has entered into a two-year Knowledge Transfer Partnership (KTP) with the University of Huddersfield to improve the way the UK insurance industry manages early stage sickness absence. It’s believed that the project could ultimately save the UK economy millions of pounds by reducing work loss due to ill-health. Overseeing the KTP ... Read the full article
Guy Carpenter adds Aon’s Paul Miller to bolster property cat value proposition
28th September 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has appointed Aon's Paul Miller to lead its Property Catastrophe value proposition for UK, Global Specialties and key global clients. Effective September 2021, Miller takes on responsibility for ensuring the delivery of best-in-class solutions to clients and prospects working across the reinsurance ... Read the full article
Riskbook secures £2mn in new funding
28th September 2020
Reinsurance technology provider Riskbook has received a £2 million investment to help further develop its Lloyd’s-recognised digital placement platform. RiskBook was approved by Lloyd’s of London as a recognised electronic placement system for open market reinsurance business earlier this year. The announcement marked the first time that brokers from any firm could ... Read the full article
LV= confirms M&A talks with Royal London
28th September 2020
UK insurer Liverpool Victoria Friendly Society (LV=) has confirmed that it is in talks with The Royal London Mutual Insurance Society Limited regarding a possible takeover of LV=. Sources say that the transaction could be worth between £500 million and £1 billion, with the combined entity able to serve nearly 10 ... Read the full article
HDI Global hires Managing Director of Scandinavian Branch
28th September 2020
Global re/insurer, HDI Global Specialty SE has announced the appointment of Thomas Barenthein as the Managing Director of its Scandinavian Branch. He joins the specialty lines insurer from Inter Hannover where he was Managing Director in Sweden. The Scandinavian branch of HDI Global Specialty in Stockholm is the insurer’s centre for ... Read the full article
Thomas Braune appointed CEO of Munich Re subsidiary, NewRe
28th September 2020
Munich Re subsidiary New Reinsurance Company has announced the appointment of Dr Thomas Braune as its Chief Executive Officer. Braune joined Munich Re in 1992 and was most recently in charge of the reinsurers' life and health reinsurance business in Europe, Latin America and the Middle East. He brings over 25 years' ... Read the full article
AM Best confirms SCOR ratings
28th September 2020
AM Best has decided to confirm the Financial Strength Rating and Issuer Credit Rating of SCOR as ‘A+ Superior’ and ‘aa-‘, respectively. The rating agency said the move reflects SCOR’s strong balance sheet strength, as well as its operating performance, very favourable business profile and enterprise risk management. In particular, analysts noted ... Read the full article
BMS adds WTW’s Suzi Morgan as Director
28th September 2020
Independent specialist re/insurance broker BMS Group has announced the appointment of Suzi Morgan as Director. Morgan was formerly Willis Towers Watson's London North American Property Head and her appointment is effective early 2021. Before her time at WTW, Morgan served as principal at Integro Insurance Brokers, focusing on property placements and new ... Read the full article
UK must take flood risk more seriously, says Flood Re CEO
28th September 2020
Flood Re Chief Executive Officer (CEO) Andy Bord has said that the UK “must take flood-risk more seriously,” and stressed the urgency of building a more flood resilient country. In a recent interview with Reinsurance News, Bord discussed how Flood Re is working with the government to address the challenges facing ... Read the full article