Reinsurance News
H.W. Kaufman Group acquires Barbican Protect Limited
27th November 2019
H.W. Kaufman Group, a global network of insurance companies, has acquired Barbican Protect Limited from Barbican Insurance Group, subject to regulatory approval. The agreement sees Barbican Protect rebrand as Burns & Wilcox and join H.W. Kaufman Group London, and is part of the company's expansion plans into the UK marketplace. The acquisition ... Read the full article
Munich Re expecting hit from Hagibis, but confident in targets
27th November 2019
Reports suggest that Munich Re is expecting to incur a large financial hit in Q4 from Typhoon Hagibis and other catastrophe events, but has nevertheless grown more confident that it will meet its targets for the year, as well as in 2020. Speaking at a press event in Munich on Monday, ... Read the full article
Willis Towers Watson adds ICE InsureTech to Radar Live program
27th November 2019
Re/insurance broker Willis Towers Watson has announced that ICE InsureTech has become the latest vendor to join its global Radar Live Collaboration program. As a Radar Live collaborator, ICE Insuretech will have the ability to deploy Radar Live’s specialist insurance rating and rules solutions. Willis Towers Watson believes that its Radar Live ... Read the full article
Miller adds Eugene Leong to property team in Singapore
27th November 2019
Global re/insurance broker Miller has announced the appointment of Eugene Leong to its Singapore team, enhancing its property, downstream energy and construction capabilities. He will work closely with Singapore and London colleagues to support growth from existing and potential new clients in the Asia region. Leong joins Miller from Marnix in Singapore, ... Read the full article
AXIS announces Typhoon Hagibis loss of up to $110mn
26th November 2019
Bermudian insurer and reinsurer AXIS Capital Holdings Limited has announced a pre-tax loss estimate for Typhoon Hagibis of between $90 million and $110 million, net of recoveries from reinsurance and retrocession, and including the impact of reinstatement premiums. AXIS Capital states that its loss estimate is in line with industry insured ... Read the full article
AXA XL Risk Consulting appoints Global Casualty Risk Engineering Leader
26th November 2019
AXA XL Risk Consulting has announced the appointment of Sheri Wilbanks as Global Casualty & Environmental Lines of Business Manager. Wilbanks joins the business from AIG, where she most recently served as Global Innovation Lead for AIG’s Client Risk Solutions division. Prior to that position, she served as Casualty and Financial Lines ... Read the full article
Florida claims settlements consistent despite hurricane losses: Demotech
26th November 2019
Florida focused property insurers are closing claims at a pace consistent with prior years despite the major storm losses of 2016, 2017 and 2018, according to a new study by financial analysis firm Demotech. The study, which used data from S&P Global, compiled information from the annual statements of 91 insurance ... Read the full article
Tysers adds Christina Allen to Bermuda arm
26th November 2019
Tysers, the specialty London-based wholesale broker, has announced the appointment of Christina Allen as a Director of Tysers Bermuda. Allen was most recently employed at Paragon Brokers (Bermuda) Ltd. She joins Tysers with over 15 years of re/insurance experience, predominantly in the Financial and Professional Lines Market in both Canada and Bermuda. In ... Read the full article
Argo’s shareholders must have input to critical decisions, says Voce
26th November 2019
Argo Group shareholder, Voce Capital Management, has today launched a process to call a Special Meeting of Argo Shareholders, saying that shareholders in the company must have input to critical leadership, governance, and strategic decisions which will have lasting impacts. Earlier in November, Voce described the specialty re/insurer’s board as ... Read the full article
Berkshire (BHSI) names Warrior Head of D&O Liability underwriting, UK & Ireland
26th November 2019
Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has hired Chris Warrior as Head of Directors' & Officers' Liability underwriting for UK & Ireland, based in the firm's London office. The appointment expands the company's European team with the addition of Warrior, who brings 36 years of ... Read the full article
A “truly unconventional hard market” says the CIAB
26th November 2019
The majority of respondents to a recent market survey agreed that market conditions continued to harden in the third-quarter of 2019, reports The Council of Insurance Agents & Brokers (CIAB). The CIAB's Q3 Commercial Property/Casualty Market Survey reveals that industry participants feel that during Q3, the market was transitioning from firm ... Read the full article
Amynta appoints Global Head of Structured Solutions/Reinsurance
26th November 2019
Amynta Group has announced the appointment of Scott Allan as Global Head of Warranty Structured Solutions/Reinsurance. Prior to Amynta, Allan co-founded StatSure Financial and played a key role in the foundation of reinsurance platforms across industries seeking captive solutions. Previously, he also founded Oceanus Reinsurance A.I. (later named Spencer Re), an international ... Read the full article
Legal & General in £1.6bn pension buy-in with National Grid UK
26th November 2019
Legal & General Assurance Society Limited has entered into a £1.6 billion pension risk buy-in deal with the National Grid UK Pension Scheme (NGUKPS). The policy covers 6,000 pensioner members from Section B of the £20 billion defined benefit pension scheme, which is primarily for previous employees of the gas industry. This ... Read the full article
Great American names President of M&A Liability Division
26th November 2019
Great American Insurance Group has announced the promotion of Roy Reynolds to Divisional President within its Property & Casualty (P&C) Group, Mergers & Acquisitions (M&A) Liability Division. At the same time, Great American has named Garry Gordon as Divisional Senior Vice President, also for its P&C Group, M&A Liability Division. Reynolds joined ... Read the full article
Munich Re more interested in primary insurer acquisitions
26th November 2019
Joachim Wenning, Chief Executive Officer (CEO) of reinsurance giant Munich Re, has said that the company is currently more interested in looking at acquisitions of primary insurers, according to reports from German newspaper Welt. Speaking at an event on Monday evening in Munich, Wenning said that acquisitions of reinsurance firms seemed ... Read the full article