Reinsurance News
Intelligent machines will profoundly alter re/insurance industry: SCOR
12th April 2018
French-based insurer and reinsurer SCOR has predicted in a recent report that the re/insurance industry is likely to be profoundly altered by the growth and integration of intelligent machines, which will bring both significant opportunities and risks for companies. SCOR noted that the development of intelligent machines has recently been accelerated ... Read the full article
Volante Global names Underwriting and Franchise Director
12th April 2018
Volante Global Limited, an international managing general agent (MGA) platform, has announced the appointment of Jerry Probert as Underwriting and Franchise Director. The appointment also sees Probert join the Volante Executive Committee and Volante Global Board, and he will work closely with the firm's Founder and Chief Executive Officer (CEO), Talbir ... Read the full article
Indian regulator exempts 24 re/insurance schemes from goods and services tax
12th April 2018
The Insurance Regulatory and Development Authority of India (IRDAI) has announced that 24 re/insurance schemes are to be exempt from goods and services tax (GST), provided firms pass the savings on to customers. In a circular directed to all insurers, the IRDAI confirmed that the proposal to exempt reinsurance schemes was ... Read the full article
Everest Re’s Q1 cat losses reveal rising California wildfire costs
12th April 2018
Everest Re Group has reported that it expects to incur $100 million of estimated catastrophe losses in the first quarter of 2018, largely due to rising industry loss estimates from the California wildfires, which are now projected at over $13 billion. Loss estimates have risen dramatically since the fourth quarter of ... Read the full article
Endeavour introduces cyber coverage for physical damage to manufacturers
12th April 2018
Endeavour Insurance Services, a Delegated Authority Specialist and Lloyd’s Broker, has launched a new cyber security product that protects manufacturers from physical damage related to cyber attacks. The new programme, called Ensconce, targets new risks that are arising out of increasingly automated manufacturing processes and the internet of things (IOT), which ... Read the full article
IRB Brasil Re sells stake in UAIC to Quest Group for $5.3mn
12th April 2018
IRB International Corporation, a subsidiary of IRB Brasil Resseguros S.A. (IRB Brasil Re), has announced plans to sell its stake in United Americas Insurance Company (UAIC) for US $5.3 million to Quest Group Holdings Limited, a re/insurance market investor. IRB International has already entered a Share Purchase Agreement (SPA) with an affiliate ... Read the full article
Protectionist measures hindering regional re/insurance market development: Insurance Europe
11th April 2018
Insurance Europe has highlighted a number of protectionist measures throughout Argentina, Brazil, India, Indonesia, and Turkey, stating that although these countries represent a significant market for European insurers and reinsurers, existing barriers limit their ability to do business in a competitive way. The organisation has released its latest fact sheets in ... Read the full article
TransRe strengthens North America Property Treaty team
11th April 2018
TransRe has appointed Ben Hodge as leader of its North America Property Treaty team, and named John Fugit as a team underwriter. Hodge joined TransRe in 2014 and is currently Vice President of the North America Property Treaty team at the company’s Bermuda office, where he will remain as he continues ... Read the full article
Compre appoints Bridger and Lawson as joint CEOs
11th April 2018
Independent European legacy acquirer Compre has announced that Will Bridger and Mark Lawson have succeeded Nick Steer to become joint Chief Executive Officers (CEOs) of the company. As co-leaders, Bridger and Lawson will support Compre as it prepares for strong, sustained growth, having exited its third-party servicing business in 2017 and ... Read the full article
R&Q’s Accredited commences program underwriting partnership with American Team Managers
11th April 2018
R&Q Investment Holdings Ltd (R&Q) subsidiary, Accredited Surety & Casualty Company Inc (Accredited) has announced a new program underwriting partnership with American Team Managers (ATM), effective April 1st, 2018. Under the new partnership, Accredited will act as the insurer on behalf of ATM, an independently owned insurance MGA focused on providing cargo ... Read the full article
Lucien Mounier to head Beazley’s Asia Pacific operations
11th April 2018
Beazley has announced the appointment of Lucien Mounier as Head of its Asia Pacific operations, a region the specialist insurer has identified significant growth opportunities for its products. The appointment sees Mounier move from Paris to be based in the firm's Asia Pacific hub in Singapore, and he will have responsibility for ... Read the full article
Gen Re partners with tech company PAI Health to reduce risk
11th April 2018
Gen Re is to collaborate with PAI Health, a technology company that uses algorithms to optimise health, to develop re/insurance solutions for life and health clients in the global market. Gen Re hopes to use the company’s PAI (Personal Activity Intelligence) to drive its customer engagement and reduce the risk of ... Read the full article
Risk settlement market remains promising in 2018: Aon
11th April 2018
Aon has reported that the risk settlement market presents many attractive opportunities for re/insurers in 2018, with the strong pricing seen in 2017 expected to continue throughout the coming year. The projection was part of Aon’s ‘Risk Settlement Market 2018’ report, which analysed 2017’s market trends and generated predictions for the ... Read the full article
QBE Insurance Group reshapes senior management team
11th April 2018
QBE Insurance Group Limited has announced a major reshaping of their senior management team as Inder Singh succeeds Michael Ford as Chief Financial Officer (CFO), Peter Grewals is appointed as Chief Risk Officer (CRO), Liam Buckley as Head of Culture and Talent, Matt Mansour as Chief Information Officer, and Anders ... Read the full article
Christos Adamantiadis joins Marsh as CEO of combined Middle East & Africa region
11th April 2018
Global insurance and reinsurance broker Marsh has announced the appointment of Christos Adamantiadis as Chief Executive Officer (CEO) of a newly combined Middle East and Africa region, effective May 1st, 2018. In his new role, Adamantiadis will be based in Dubai and report to Flavio Piccolomini, President of Marsh International. The position will see ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
