Reinsurance News
Marsh & McLennan adds Krause as Southeast Regional CEO
7th February 2020
Marsh & McLennan Agency, the middle market agency of global re/insurance broker Marsh, has announced the appointment of Peter Krause as Southeast Regional Chief Executive Officer. Effective immediately, Krause will report to David Eslick, chairman and CEO of MMA, and oversee MMA’s offices in Georgia , Alabama, Tennessee, Kentucky and Tallahassee. He ... Read the full article
IGI gains further approvals for public listing deal
7th February 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has gained further regulatory approvals for its planned business combination with Tiberius Acquisition Corp., which will result in the public listing of IGI. The Dubai Financial Services Authority is the latest regulator to give the transaction the green light, following approval ... Read the full article
Late reinsurance renewals signal supply-demand imbalance: KBW
7th February 2020
Analysts at KBW have observed a supply-demand imbalance at the January 1 reinsurance renewals, which they believe will persist throughout 2020, especially for loss-impacted property catastrophe accounts. The firm noted that reinsurance renewals were later than normal this year, including some placements that were not completed by year-end. Pricing trends are considered ... Read the full article
Bushfires & winter storms push economic bill to $3bn in January: Aon
7th February 2020
Devastating bushfires in Australia and powerful winter storms in the US have contributed to a costly natural catastrophe bill in January 2020, with re/insurance broker Aon estimating that economic losses will exceed $3 billion. Bushfires across sections of New South Wales, Queensland, South Australia, Victoria, and Western Australia destroyed more than ... Read the full article
Sompo GRS launches product built for life sciences industry
7th February 2020
Sompo Global Risk Solutions, a subsidiary of Bermuda-based specialty property and casualty re/insurer Sompo International, has introduced a state-of-the-art products-completed operations and errors and omission liability protection product built for the life sciences industry. Sompo Life Science Plus offers coverage for various life science products, including products used in human clinical ... Read the full article
Alliant adds Marianne Chow to property and casualty team
7th February 2020
US specialty insurance broker Alliant Insurance Services has announced the appointment of Marianne Chow as Vice President in its Bay Area property and casualty team. Prior to joining Alliant, Chow was Vice President with a national insurance and consulting firm. She also has experience as a risk manager and as a corporate ... Read the full article
Kemper elects United Airlines CFO Laderman as director
7th February 2020
US insurer Kemper has announced the appointment of Gerald Laderman as director, effective February 20. Laderman currently serves as Chief Financial Officer and executive vice president of United Airlines, and oversees the development of the firm’s overall financial strategy including cost management, capital allocation and balance sheet optimisation. He brings over 30 ... Read the full article
ARPC extends top layer of retro reinsurance program for 2020
7th February 2020
The Australian Reinsurance Pool Corporation (ARPC), the Australian government's terrorism reinsurance agency, has announced that it has secured a larger retrocession reinsurance program for the 2020 calendar year. The ARPC has secured AUD 3.45 billion (USD 2.33 billion) of retrocession reinsurance protection at a reduced rate for 2020, up on ... Read the full article
Tokio Marine HCC – Specialty Group bolsters Canada team
7th February 2020
Tokio Marine HCC, a member of Tokio Marine Group, has announced the addition of Scott La Croix to its Specialty Group, as Vice President and Head of Tokio Marine HCC - Specialty Group in Canada. Specialty Group is part of Tokio Marine HCC, and operates as a provider of specialised insurance ... Read the full article
Aon adds Life Reinsurance Specialist in Australia
7th February 2020
Global insurance and reinsurance broker Aon has announced the addition of Robert Rice to its Life Reinsurance Solutions team in Australia, effective February 3rd, 2020. In his new role, Rice serves as a Life Reinsurance Specialist and will have a focus on enhancing and delivering Aon's Life Reinsurance advisory and risk ... Read the full article
Travel insurtech Blink launches parametric solutions platform
7th February 2020
Travel insurtech Blink has announced the launch of a platform designed to offer a range of parametric insurance solutions. Blink Parametric’s platform-based solutions span the travel, climate, energy and IoT sectors. Blink Travel offers customers a real-time insurance service with real-time compensation options for issues like flight delays or cancellation. Blink Climate is ... Read the full article
RMS releases first version of the Risk Data Open Standard
7th February 2020
Global catastrophe risk modeller RMS has announced that its modern data schema for the risk modelling community, the Risk Data Open Standard (RDOS), was made publicly available for download on January 31st, 2020. The firm's RDOS was built specifically for the industry and represents the new, open standard for holding all ... Read the full article
RenRe could pull back in Florida if rates stay low, says CEO
7th February 2020
RenaissanceRe could further reduce its exposure to Florida domestic companies if rate increases do not meet the companies return hurdles this year, according to its President and CEO, Kevin O’Donnell. Speaking in an earnings call alongside the release of RenRe’s Q4 and 2019 results, O’Donnell warned of “substantial structural issues” ... Read the full article
Argo reaches agreement to sell Trident Public Risk Solutions to Paragon
7th February 2020
Argo Group International Holdings, Ltd. has announced that Paragon Insurance Holdings, LLC is to acquire its Trident Public Risk Solutions brand and underwriting platform. It's expected that the deal will complete in the coming months, and insurer and reinsurer Argo expects to report a pre-tax gain of around $37 million related ... Read the full article
Higginbotham names energy & marine practice leader
7th February 2020
Texas-based insurance brokerage Higginbotham has appointed Ted Dimitry to lead its energy and marine practice, based in Houston. He will be tasked with serving upstream, midstream and downstream oil and gas companies in the region. Dimitry has 23 years’ experience as a commercial property & casualty broker specialising in the oil and ... Read the full article