Reinsurance News
Munich Re announces appointments of Daniel Cenzano & Stephanie Weiler
4th February 2020
Global reinsurer Munich Re has announced the appointment of Daniel Cenzano as the Head of Global Business Communications, and Stephanie Weiler as the Head of Global Brand & Operations. In their new roles, Cenzano will be based in New Jersey, and Weiler in Minnesota, and both will report to Andreas Lampersbach, ... Read the full article
Tokio Marine integrates Thailand unit with Safety Insurance
4th February 2020
Tokio Marine has announced the completion of the integration between its Thai subsidiary, Tokio Marine Insurance (Thailand) PCL. (TMITH), and Safety Insurance Public Company Limited. The combined company, which will officially launch as Tokio Marine Safety Insurance (Thailand) Public Company Limited' (TMSTH), has now received approval from the Office of Insurance ... Read the full article
US insurers hiking cyber premiums as ransomware costs rise
3rd February 2020
US insurers are hiking cyber premiums by as much as 25% in some cases following a surge of costly ransomware claims, according to reports from Reuters. The rate increases come as many insurers look to reduce their exposure to these forms of cyber attacks, which are becoming increasingly sophisticated and dangerous. Ransomware ... Read the full article
AFL Insurance Brokers names head of Professional Indemnity
3rd February 2020
Independent Lloyd’s broker AFL Insurance Brokers Ltd has announced the appointment of Kevin White as head of its Professional Indemnity division. He arrives from Ed., where he served as Director of Professional Risks and was responsible for handling all insurance requirements for large offshore law firms and trust companies. White began his ... Read the full article
Donna Pyle named CUO of Berkley’s Verus Underwriting Managers
3rd February 2020
Donna Pyle has been appointed as Chief Underwriting Officer (CUO) of Verus Underwriting Managers, a subsidiary of W.R. Berkley Corporation. Most recently, Pyle worked for a specialty insurance group as the Vice President of Underwriting. She has also served as the Casualty Operations Manager and Assistant Vice President of Regulatory Compliance for ... Read the full article
Marsh & McLennan Agency acquires LA broker Momentous
3rd February 2020
Marsh & McLennan Agency LLC (MMA), the middle market agency of global re/insurance broker Marsh, has announced the acquisition of Momentous Insurance Brokerage, an independent insurance agency based in Los Angeles, California. Founded in 2008, Momentous is a risk management and employee benefits firm specialising in high net worth private client ... Read the full article
Floridian insurers face challenging June reinsurance renewals: A.M. Best
3rd February 2020
The high levels of stress on primary insurers in the Florida property market is likely to continue, and those with a heavy reliance on reinsurance protection face difficult choices at the upcoming June renewals, according to analysts at A.M. Best. Analysts note an expectation of reinsurance rate rises of between 15% ... Read the full article
Coronavirus risk highest for mortality-focused US life insurers: Fitch
3rd February 2020
Life insurers with high exposure to mortality risk could face the most potential credit risk if the spread of the coronavirus in the US continues to accelerate, according to Fitch Ratings. However, the impact on life insurers would vary based on product mix, use of reinsurance and potential geographic concentrations, Fitch ... Read the full article
Willis Towers Watson’s Angel Hoover appointed Head of Benelux
3rd February 2020
Global insurance and reinsurance broker Willis Towers Watson has named Angel Hoover as Head of Benelux, and Joris Wonders as Head of Talent and Rewards for Western Europe. Based in Amstelveen in the Netherlands, Hoover takes responsibility for implementing the firm's strategic vision and driving client satisfaction across the region. Her ... Read the full article
Gallagher partners with FloodFlash on parametric policy
3rd February 2020
Re/insurance broker Gallagher has announced a new partnership with insurtech start-up FloodFlash, which will enable it to provide a parametric flood insurance policy to its UK clients. The parametric policy means claims will be settled based on a pre-defined trigger point, rather than through the traditional assessment of the cost of ... Read the full article
Aon hires Emma Carpenter as global super yacht leader
3rd February 2020
Re/insurance brokerage Aon has announced the appointment of Emma Carpenter as global super yacht leader. Taking up her position in London in early March, Carpenter will drive the development of Aon’s super yacht insurance broking business globally. She joins the company from Willis Towers Watson, where she has served as a super ... Read the full article
Chubb targets non physical damage BI with new terrorism solution
3rd February 2020
Insurer and reinsurer Chubb has launched a new Non Damage Terrorism Solutions policy offering designed to bridge gaps in traditional terrorism business interruption policies. The new product is a single policy offering protection against non damage business interruption, plus employee and customer care assistance as a result of a terrorism loss. Chubb ... Read the full article
Ed hires Kellie Christian as Professional & Executive Risk broker in Jersey
3rd February 2020
Ed Group, the global reinsurance, wholesale and specialty lines broker, has announced the hiring of Kellie Christian in Jersey, who joins the firm as a Divisional Director in its Professional & Executive Risk team. Christian will will be based in Jersey for Ed and report directly to Nick Bachmann, Divisional Director, ... Read the full article
Global Risk Partners gets majority investment from Searchlight Capital Partners
3rd February 2020
Private equity and opportunity investor Searchlight Capital Partners has taken a majority stake in independent insurance intermediary Global Risk Partners. The founding partners of Global Risk Partners (GRP), Peter Cullum CBE and David Margrett, as well as founding investor Penta Capital are set to retain minority stakes in the firm. Ares Management ... Read the full article
AmWINS appoints Matthew Crane as CEO of THB Group
3rd February 2020
Specialty insurer AmWINS has announced the appointment of Matthew Crane as Chief Executive Officer (CEO) of THB Group, its specialist international re/insurance broking and risk management firm. Crane, who will also take up the role of President of the International division of AmWINS, succeeds outgoing CEO Frank Murphy. Murphy has served as ... Read the full article