Reinsurance News

Canopius makes key appointments across Asia Pacific region

23rd October 2018

Global specialty lines re/insurer Canopius has expanded its presence across the Asia Pacific region with a recent series of key appointments to its office in Singapore. These include the appointments of Mathew Gundersen as Head of Operations AsiaPac & MENA and Paul Hackett as Head of Marine, Energy and Engineering, AsiaPac ... Read the full article

Verisk launches new flood underwriting tool WaterLine

23rd October 2018

Leading data analytics provider Verisk has announced the launch of WaterLine, a new underwriting tool that scores flood risk for all properties in the contiguous United States, helping insurers keep up with the growing number of homes and businesses vulnerable to flood. WaterLine was developed by Verisk businesses ISO and AIR ... Read the full article

Everest Insurance appoints leader for Risk Management business unit

23rd October 2018

Everest Insurance, a division of global reinsurer Everest Re Group, has announced that Christopher McKeon, current Vice President and Head of Commercial Casualty, will also assume leadership for the company’s Risk Management business unit. Risk Management and Commercial Casualty will continue to join with the Workers’ Compensation, Multinational, Energy and Transportation ... Read the full article

JBA launches high-resolution Florida flood maps

23rd October 2018

JBA Risk Management, the global flood risk modeller, has announced the launch of its new high-resolution state-wide flood map for Florida, part of a wider rollout for the continental U.S. Managing Director of JBA Matt Reid stated that the flood map provides “a comprehensive understanding of all three principal types of ... Read the full article

AEGIS London hires James Hyett as Cargo Underwriter

23rd October 2018

Lloyd's managing agent AEGIS London has announced the appointment of James Hyett as Cargo Underwriter. Hyett joins AEGIS London from Sompo International, where he most recently served as a Marine Underwriter. His London market career spans 18 years and he has previously positions as a Placing Broker at a number of broking ... Read the full article

Brexit’s ‘closed market’ trend will hurt re/insurers: Munich Re’s Menhart

22nd October 2018

The UK’s decision to leave the European Union and withdraw from the Single Market may represent part of a global political trend towards ‘closed societies’ that is likely to negatively impact re/insurers in the long-term, according to Michael Menhart, Chief Economist at Munich Re. Speaking during a presentation at Lloyd’s last ... Read the full article

Hurricane Michael to keep a floor under pricing: RLI’s Kliethermes

22nd October 2018

The impact of hurricane Michael and the resulting losses faced by the insurance and reinsurance sector should be enough to keep a floor under pricing, according to RLI Corporation's Chief Operating Officer Craig Kliethermes. Hurricane Michael struck the Florida Panhandle a deadly blow on October 10th, coming ashore as a major ... Read the full article

Brown & Brown to acquire U.S broker Hays Companies

22nd October 2018

Brown & Brown, Inc. has announced that it has entered into an agreement to acquire Hays Companies, a broker that operates across 21 U.S states, for an undisclosed consideration. Headquartered in Minneapolis, Hays Companies has an annualised revenue of approximately $200 million and focuses on risk management, commercial insurance, employee benefits, ... Read the full article

Kingstone appoints Dale Thatcher as new CEO

22nd October 2018

Property and casualty insurance holding firm Kingstone Companies has appointed Dale Thatcher as its new Chief Executive Officer, effective 1 January 2019. Thatcher, who replaces Barry Goldstein after nearly 20 years in the role, will continue to serve on the Company's Board of Directors and will remain President of Kingstone Insurance ... Read the full article

Re/insurance industry’s “wave of consolidation” just beginning: Swiss Re’s Reichelt

22nd October 2018

Swiss Re is anticipating an acceleration in mergers & acquisitions (M&A) activity in the global re/insurance industry as companies look to expand their business beyond traditional roles, according to Reuters. “We are at the beginning of a wave of consolidation,” Reuters quoted Frank Reichelt, Swiss Re’s Market Executive Northern, Central, Eastern ... Read the full article

Hannover Re expects modestly higher premiums and stable conditions in Germany

22nd October 2018

E+S Rück, a subsidiary of Hannover Re responsible for the group’s German business, continues to expect positive premium development in the country’s market for the upcoming round of treaty renewals as at 1 January 2019, albeit at a somewhat more muted pace than in the previous year. "Against the backdrop of ... Read the full article

RKH hires Dave Saxton amid alternative capital drive

22nd October 2018

RKH Reinsurance Brokers (RKH RB), part of the global Hyperion Insurance Group, has appointed Dave Saxton from Steadfast Re to its London operations, according to reports from our sister site, Artemis. The appointment will bring additional treaty, insurance-linked securities and collateralised broking expertise to RKH, and comes amid a wider ... Read the full article

London re/insurance broker Miller acquires Alston Gaylor and Co

22nd October 2018

London wholesale and specialist insurance and reinsurance broker, Miller Insurance Services (Miller), has announced the acquisition of independent broker Alston Gaylor and Co (AG), which is majority owned by Nelson Holdings Limited, for an undisclosed fee. The agreement demonstrates Miller's commitment to providing high level client service, while broadening the broker's ... Read the full article

Munich Re preparing for “exponential” growth in cyber demand

22nd October 2018

Global reinsurance firm Munich Re has said that it is preparing for “exponential” growth in demand for cyber re/insurance coverage by developing updated, flexible solutions and exploring new technology-based partnerships. In a recent statement, the reinsurer noted that the cyber threat is developing rapidly alongside digitalisation efforts, and is a risk ... Read the full article

Reinsurance products backed by alternative capital have become mainstream: WTW

22nd October 2018

End investors, Insurance Linked Securities (ILS) funds, and buyers – the three groups active in ILS – have mostly weathered last year’s substantial loss activity with a view that reinsurance products backed by alternative capital have become mainstream, according to a new survey by Willis Towers Watson. In fact, the 2017 ... Read the full article