Reinsurance News
Property capacity remained strong at April 1st renewals: Willis Re
11th April 2018
Broker Willis Re has reported that capacity for the property sector remained strong, both in the U.S and globally, despite April 1st renewal price increases being lower than anticipated. In its latest reinsurance renewals report, Willis Re found that April 1st renewal price increases were tempered by weak increases at January ... Read the full article
Heritage names Tim Johns as President & CEO of Zephyr Insurance
11th April 2018
Heritage Insurance Holdings, a property and casualty (P&C) re/insurance holding company, has named Tim Johns as the next President and Chief Executive Officer (CEO) of Zephyr Insurance Company. Johns will succeed Richard Toyama as head of Zephyr, which is a provider of residential hurricane re/insurance coverage in Hawaii. Johns is already familiar ... Read the full article
P&C business drives price increases for European reinsurers: RBC
10th April 2018
RBC Capital Markets has reported that, after several years of decline, 2018 pricing for European reinsurers is on the rise, with companies getting back to near term earnings growth, largely driven by Property and Casualty (P&C) business. RBC found that P&C reinsurance drove earnings growth as better-priced premium earned its way ... Read the full article
AXA to remodel Swiss group life business as semi-autonomous
10th April 2018
AXA Switzerland, the largest re/insurer of small-to-medium enterprises (SMEs) in the Swiss market, has announced plans to convert the business model of its main occupational benefits foundations from a full-value insurance model to a semi-autonomous model. From 2019, the foundations will be responsible for asset allocation and investment returns to policyholders, ... Read the full article
Jonathan Bines joins AFL Insurance Brokers from JLT as Chief Commercial Officer
10th April 2018
Independent Lloyd's of London broker, AFL Insurance Brokers Ltd, recently announced the appointment of Jonathan Bines as Chief Commercial Officer (CCO). Bines was formerly with insurance and reinsurance broker JLT as a Senior Partner, Specialty Property & Casualty, after joining the firm in 2005 from Marsh, where he started his insurance ... Read the full article
U.S. still dominates but Europe is a rapidly expanding InsurTech hub: Report
10th April 2018
Europe has emerged as the fastest growing InsurTech hub with the number of deals in 2017 increasing by 118%, accounting for one-third of all InsurTech deals globally, according to analysis by Accenture. The total value of deals in Europe nearly quadrupled in 2017, jumping by 385% to US $679 million, demonstrating ... Read the full article
Beazley expands European presence with new Head of Broker Relations
10th April 2018
Specialist re/insurer Beazley has supported its growth ambitions in Continental Europe with the appointment of Andreas Bergler to the newly created position of Head of Broker Relations for the region. Bergler will now be responsible for developing Beazley’s pan-European broker relationship network and managing its distribution strategy. He will report to Will ... Read the full article
Beecher Carlson appoints Siech as CEO and Davis as COO
10th April 2018
Beecher Carlson Insurance Services, LLC, a re/insurance broker and wholly owned subsidiary of Brown & Brown, Inc., has promoted Joseph Siech to Chief Executive Officer (CEO) and B. Scott Davis to Chief Operating Officer (COO). Siech will succeed Steve Denton as CEO, and will be responsible for supporting the implementation of ... Read the full article
TransRe promotes Geary to head of Cyber Liability team
10th April 2018
TransRe has announced that Elizabeth Geary has been appointed leader of its global Cyber Liability team, replacing recently departed cyber risk head Kara Owens. In her new role, Geary will oversee TransRe’s existing cyber business, and manage all risk analytics relating to cyber exposures. She will also support the development of new ... Read the full article
Neon continues to expand offering with contingency underwriter hire
10th April 2018
Neon Underwriting has appointed Jeremy Cooke as contingency underwriter, taking responsibility for building the firm's name in the event cancellation market. Neon explains that as it continues to develop a refreshed proposition and portfolio offering, the arrival of Cooke shows continued progress and will help the firm grow in a market ... Read the full article
Sompo International launches retail platform to facilitate global integration
10th April 2018
Sompo International Holdings Ltd. (SI) has announced plans to establish a new retail platform that will facilitate its integration of all international operations outside of Japan that belong to Sompo Holdings. The integration expands the Sompo universe now under the direction of industry veteran John Charman. Sompo International has already completed the ... Read the full article
RKH Specialty hires Beatty as regional Asia Pacific CEO
10th April 2018
RKH Specialty, part of the Hyperion Insurance Group, has named Stuart Beatty as the regional Chief Executive Officer (CEO) for Asia Pacific, based in Singapore. Beatty brings more than 30 years of insurance and reinsurance experience to the newly created role, and will have a focus on developing the company's specialty ... Read the full article
$193bn disaster protection gap in 2017, reports Swiss Re’s sigma
10th April 2018
Swiss Re’s research institute, sigma, has reported that global insured losses from disaster events totalled a record US $144 billion in 2017, leaving a $193 billion deficit in coverage when compared with total global economic losses from natural disasters and man-made catastrophes, which reached $337 billion. Sigma noted that this was ... Read the full article
Asian InsurTech M&A tripled in 2017: Willis Towers Watson
10th April 2018
Global re/insurance broker Willis Towers Watson has reported that the total transaction volume of InsurTech mergers and acquisitions (M&As) in Asia hit US $460 million over 2017, a figure over three times greater than the one recorded over 2016. In its fourth Quarterly InsurTech Briefing, Willis Towers Watson attributed the surge ... Read the full article
Reinsurers’ role in value chain critical and permanent, says RenRe’s O’Donnell
9th April 2018
In the company's Annual Report, RenaissanceRe’s (RenRe) President and Chief Executive Officer (CEO), Kevin J. O’Donnell, has claimed that the social value proposition of RenRe, and of the reinsurance industry more generally, occupies a critical and permanent link in the insurance value chain. In the report’s letter to shareholders, O’Donnell asserted ... Read the full article
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