Reinsurance News
Watford Re’s parent files for NASDAQ IPO
30th January 2019
The parent company of Bermudian reinsurer Watford Re, Watford Holdings Ltd., has announced that it has now publicly filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission, as it looks to be listed on the NASDAQ Global Market. Watford Re is the third-party capital backed total-return ... Read the full article
Lockheed Martin completes two pension risk transfer agreements
30th January 2019
Lockheed Martin Corporation, a global security and aerospace firm, has announced its involvement in two new pension risk transfer agreements, including a $1.8 billion buy-out with a subsidiary of Prudential Financial, Inc. The buy-out agreement sees Lockheed Martin transfer roughly $1.8 billion of its pension obligations via the purchase of a ... Read the full article
SCOR announces one-off bonus to eligible employees
30th January 2019
Global insurer and reinsurer SCOR, has announced a decision to award a one-off bonus of €1,000 to all of its employees in France who are on a salary that is less than 1.5 times the minimum wage. A bonus of €500 will be awarded to employees in France with a ... Read the full article
Catastrophes hit RenRe’s fourth-quarter results
30th January 2019
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced a net loss of $83.9 million for the fourth-quarter of 2018, driven by the impact of catastrophe losses. The $83.9 million Q4 net loss compares with a net loss of $3.5 million for the same period in 2017. The reinsurer states that Hurricane Michael, ... Read the full article
Lloyd’s appoints former U.S Senator John Sununu to Council
30th January 2019
Lloyd’s has appointed former U.S Senator John Sununu as a member of its Council on a three-year term. During his time in the senate, he served on the Senate Banking Committee - where he actively prioritised insurance issues - and the Senate’s subcommittee on Science, Technology and Innovation. Effective 6 February, the ... Read the full article
Arch Insurance appoints Eric Boquist as EVP for Retail Energy
30th January 2019
Arch Insurance North America has announced the appointment of Eric Boquist to the role of Executive Vice President (EVP) for Retail Energy. Boquist joins Arch from Travelers, where he most recently served as President of the insurer’s Oil & Gas unit in Houston, Texas. In his new role, he will remain in ... Read the full article
Stephen Warwick named CEO of Reinsurance, Asia Pacific at RFIB
30th January 2019
International insurance and reinsurance broker, RFIB, has appointed Stephen Warwick as Chief Executive Officer (CEO) of Reinsurance, Asia Pacific, effective February 1st, 2019. In his new role, Warwick will report to Kevin Stratton, Managing Director of the broker's Specialty division. He will be based in Hong Kong where he will establish ... Read the full article
IUA outlines 2019 priorities for London company market
30th January 2019
The International Underwriting Association (IUA) has outlined its priorities for the London company market in 2019, which include the publication of a major report om the wholesale insurance market and the fall-out from Brexit, among other concerns. The IUA explained that it is preparing to discuss any findings or recommendations with ... Read the full article
Industry wildfire losses near $20bn in record year for insurers: Aon
29th January 2019
Global insured losses for catastrophic fire events set a new record at near $20 billion in 2018, with the majority of losses driven by wildfires in California, according to estimates from Aon. The broker noted that wildfires caused extremely elevated losses and human casualties for a second consecutive year in 2018, ... Read the full article
AXIS Re names Jason Arbuckle Head of Underwriting, Canada
29th January 2019
AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has named Jason Arbuckle as Head of Underwriting for Canada. In his new role, Arbuckle will take responsibility for the Canadian office operations, which includes enhancing and expanding the reinsurer's Canadian market business, and both identifying and establishing new AXIS Re ... Read the full article
Broker Kingsbridge targets gig economy with acquisition of InsurTech Dinghy
29th January 2019
GlobalData has said that the acquisition of InsurTech start-up Dinghy by specialist insurance broker Kingsbridge, looks set to ignite innovation in the broker community. Dinghy offers freelancers based in the UK with various insurance products, including professional indemnity, public liability, cyber liability, and business equipment insurance for flexible working hours. Kingsbridge specialises ... Read the full article
Swiss Re opens capital markets unit in Luxembourg ahead of Brexit
29th January 2019
Swiss Re has set up a new capital markets unit in Luxembourg to ensure continuity of service for its derivative contracts after the UK leaves the European Union. Swiss Re Capital Markets Europe, S.A. was established by the reinsurer’s commercial risks division, Swiss Re Corporate Solutions, to ensure that the company ... Read the full article
Channel Syndicate 2015 promotes Anderson to Head of Tech & Cyber
29th January 2019
Channel Syndicate 2015 (Channel) at the specialist Lloyd's of London insurance and reinsurance marketplace, has announced the appointment of Gillian Anderson as Head of Technology and Cyber, effective immediately. In her new role, Anderson will report to Active Underwriter at Channel, Tom Corfield. She joined Channel in the summer of 2016 ... Read the full article
AXA XL renews and expands partnership with Guidewire Software
29th January 2019
AXA XL has partnered with Guidewire Software, Inc. in order to have global access to the Silicon Valley-based company's Guidewire Cyence Risk Analytics (Cyence) modelling solution for cyber exposures. Cyence is designed to help quantify the financial impact of cyber risk exposures, and AXA XL's Cyber Insurance unit has utilised the ... Read the full article
S&P notes orderly but somewhat disappointing renewals
29th January 2019
Targeted price increases limited to loss-affected policies and regions were evident at the recent January 1st renewals, and while the overall process was orderly, it was somewhat of a disappointment following recent industry losses, says ratings agency S&P. The ratings agency states that during the most recent renewal period, it witnessed ... Read the full article