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
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