Reinsurance News

Gary Geller appointed to Atradius Special Products head of underwriting

5th June 2017

Trade credit insurer, Atradius, has announced the appointment of Gary Geller to Head of Atradius Special Products Unit, London underwriting team. As an industry veteran, Geller brings over 30 years of experience in trade finance, commodity trading and management of commodity-related projects to the new role. He worked across New York, Paris ... Read the full article

Re/insurance experts set up InsurLab in Germany

5th June 2017

An InsurLab was set up last week in Cologne, Germany, to facilitate collaboration between InsurTech start-ups, re/insurers, and service providers, as part of a growing movement towards cooperation as re/insurers increasingly recognise a group effort is necessary to fully reap the benefits of the InsurTech innovation. The lab was established by ... Read the full article

JLT Re hires Tony Manzitto to expand U.S. Structured Products team

5th June 2017

Insurance and reinsurance broker JLT Re (North America) Inc. has further bolstered its Structured Products team with the addition of Tony Manzitto as Executive Vice President in Los Angeles, California. Manzitto is expected to join the reinsurance broker during June, 2017, and the new role will see him focus on the development ... Read the full article

LCI appoints Dominque Charpentier as its new Chairman

5th June 2017

The Lebanese Credit Insurer (LCI) recently announced the appointment of Dominque Charpentier as its new Chairman, at its 2017 Annual General Meeting (AGM). LCI was established in 2001 as a joint venture between Atradius and a group of local and regional insurers and private holding companies, as the first independent specialized credit insurance company in ... Read the full article

QBE North America & AmWINS launch national excess property programme

5th June 2017

QBE North America has formed a strategic programme alliance with AmWINS Special Risk Underwriters (SRU) - one of the largest independent wholesalers in the U.S. - to launch a national excess property programme. The excess property programme offers cover for both soft occupancy; habitational, hospitality, retail, and manufacturing - areas where QBE is a market ... Read the full article

Full impact of Ogden Rate on reinsurance pricing still to be seen: A.M. Best

5th June 2017

The total impact to reinsurance pricing from the increase of the UK's Ogden Rate, or the personal injury discount rate, has yet to be seen, with further reinsurance price rises expected at future renewals. Catherine Thomas, senior director at A.M. Best, said; "Companies have been affected to different degrees by the ... Read the full article

Re/insurers need proactive cyber development and marketing strategies: Inga Beale

5th June 2017

Speaking at Mexico's AMIS Insurance Conference, Lloyd's Inga Beale reiterated the urgency of getting aboard the cyber insurance market, which she said could triple in size to $7.5 billion by 2020. "I don’t think that, as a sector, we are doing enough to promote the benefits of cyber insurance and make ... Read the full article

Aiden Joo joins XL Catlin from Zurich Global as Senior Underwriter

2nd June 2017

XL Catlin has appointed Aiden H. Joo as Senior Underwriter in New York to expand its U.S. underwriting capabilities for Structured Risk Solutions. Joo joins from Zurich Global Corporate where he was an underwriter and deal architect, developing a variety of insurance solutions including integrated insurance programs, risk financing and alternative risk transfer programs ... Read the full article

Increasing regulation on data breaches to spur cyber re/insurance growth: RBC

2nd June 2017

Cyber has been hailed as the re/insurance shooting star with the potential to more than double in size by 2020 - nothing brings more promise to the industry then this emerging market space. Although growth so far has stemmed mostly from the U.S. cyber market, RBC said in a recent report ... Read the full article

Influence of InsurTech being felt in personal lines insurance: Conning

2nd June 2017

The rise of innovative technology and the resulting increased investment into technology-focused business models is impacting all industries of the world, including numerous areas of the insurance and reinsurance value chain and business systems. FinTech and InsurTech have become increasingly common words across the risk transfer industry, as a need for greater efficiency ... Read the full article

Reinsurers express regret at Trump’s exit of the Paris Climate Agreement

2nd June 2017

Reinsurance giants Swiss Re and Munich Re have added their voices to the growing international condemnation of Trump’s decision to exit the Paris Climate Agreement. The Swiss reinsurer -  which has been researching climate change and its effects for the past 30 years - said; "we can say: it is a ... Read the full article

Universal subsidiaries finalise 2017 reinsurance programmes, reduce retentions

2nd June 2017

Universal Insurance Holdings, Inc. subsidiaries have announced the completion of their 2017-2018 reinsurance programmes, which includes participation from Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest Re and a number of Lloyd's of London syndicates. Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty ... Read the full article

Greenlight Capital Re names Simon Burton as its new CEO

2nd June 2017

Cayman Islands domiciled specialty reinsurer, Greenlight Capital Re, Ltd., has announced Simon Burton as its new Chief Executive Officer (CEO), effective July 1st, 2017. Burton succeeds Leonard Goldberg who is to step down as interim CEO but will remain on the firm's Board of Directors. The company has announced that Burton will also join ... Read the full article

Ergo sees greater annual profit contribution to Munich Re

2nd June 2017

Ergo Group, the primary insurer of reinsurance giant Munich Re, has revealed plans to generate increasing profit for the reinsurer moving forward after the successful restructuring of its operations. After launching a full-scale restructuring project in 2016 the Ergo Group is now structured to operate more efficiently, with the firm citing ... Read the full article

Second wave of savvy InsurTechs to follow industry shakeup: Report

2nd June 2017

Business consulting expert Oliver Wyman has produced a joint report with InsurTech investor Policen Direkt that looks at over 1,000 InsurTechs and relevant players to provide guidance on which activities and business models are the most likely to flourish in coming years. The report concludes that after tech start-ups saw a ... Read the full article