Reinsurance News
AkinovA collaboration makes ILS assets available to ACORD members
17th September 2019
AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, has announced that it has donated key insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the re/insurance industry. The collaboration will mean that AkinovA’s assets will be available to ACORD members as part of the ACORD ... Read the full article
Re/insurers have important role in closing infrastructure gap: Swiss Re
16th September 2019
Collectively, the re/insurance industry possesses the necessary data, risk knowledge and expertise needed to enable vital infrastructure investment across the world’s emerging markets, global reinsurer Swiss Re says. While growing urban populations require substantial investment in infrastructure to enable sustainable growth, there remains a substantial gap, notes Swiss Re. Today, only about ... Read the full article
RSA Group appoints Kevin Thompson as Ireland CEO
16th September 2019
Multinational insurance group RSA has appointed Kevin Thompson to lead its operations in Ireland as Chief Executive Officer. He replaces Ken Norgrove, who is set to become CEO of RSA Group’s Scandinavian business Codan/Trygg-Hansa. Thompson joins the role having spent seven years overseeing Insurance Ireland as CEO. Prior to that he held roles ... Read the full article
P&C focused InsurTech service provider, Combined Ratio Solutions launches
16th September 2019
A new InsurTech service provider focused on the property and casualty (P&C) industry has been launched by industry veterans Luke Magnan and Michael Jones, called Combined Ratio Solutions. Based in Hartford, Connecticut, Combined Ratio, an InsurTech service provider, is focused on delivering technology solutions that create overall value for insurers and ... Read the full article
Marsh makes senior appointments within Marsh JLT Specialty unit
16th September 2019
Marsh has appointed Stephanie Pestorich Manson as Chief Client Officer for Management Liability and Head of Directors’ & Officers’ (D&O) Product and Jason Mills as Wholesale Leader in the UK Financial & Professional (FINPRO) Practice, both within Marsh JLT Specialty. Both roles are newly created, with Manson and Mills set to ... Read the full article
Mario Vitale appointed President of cyber analytics InsurTech, Arceo.ai
16th September 2019
Provider of risk analytics for the cyber insurance and reinsurance market, Arceo.ai, has named Mario Vitale as its President, effective September 3rd, 2019. As President of Arceo, which is a newly created position, Vitale will bring his extensive insurance industry experience to lead the firm in blending cyber security expertise, credible ... Read the full article
Twelve Capital eyes Australia, NZ investors with new partnership
16th September 2019
Independent investment manager Twelve Capital is targeting investors in Australia and New Zealand by teaming up with Sydney-based capital advisory and fund placement consultancy firm Allen Partners. Twelve Capital believes its specialised insurance industry related offerings will be of interest to investors searching for alternative investment opportunities outside the Asia-Pacific region. “Our ... Read the full article
U.S. commercial auto sector set for another year of underwriting losses: Fitch
16th September 2019
The U.S. commercial auto sector is set to produce an underwriting loss for the ninth consecutive year in 2019, as market challenges continue to offset repeated underwriting and pricing actions, reports Fitch Ratings. The commercial automobile insurance space continues to drive substantial losses for U.S. property/casualty (P/C) insurers, recording a statutory ... Read the full article
JBA Risk Management develops probabilistic global flood model
16th September 2019
Flood risk modeller JBA Risk Management has announced the launch of a new probabilistic global flood model that will allow re/insurers to model river and surface water flood at 30 metres worldwide. The model, which JBA claims to be the first of its kind, will enable consistent comparisons of loss across ... Read the full article
New Dawn Risk adds Bullock-Webster to lead Tech, Media and Cyber
16th September 2019
New Dawn Risk Group Limited, an independent specialist intermediary for non-marine liability and specialty insurance and reinsurance, has announced the appointment of James Bullock-Webster as Head of Technology, Media and Cyber. Bullock-Webster joins from Paragon International Insurance Brokers, where he spent four years as a wholesale and retail broker. Prior to this ... Read the full article
Jebi losses stabilising, set to drive price firming in April: JMP Securities
16th September 2019
Analysts at JMP Securities believe that insured losses from Typhoon Jebi appear to be stabilising in the region of $15 billion to $16 billion. If losses do ultimately settle at this level, the cost to the insurance and reinsurance industry will have been more than twice as high as initial estimates ... Read the full article
Alliant forms new M&A unit, led by Jonathan Gilbert
16th September 2019
Alliant Insurance Services has announced the formation of a new brokerage service vertical that will provide expertise to private equity firms and alternative asset investors. The unit, called Alliant Mergers & Acquisitions, will be led by Senior Vice President Jonathan Gilbert. “In the last decade, there has been considerable investment by private ... Read the full article
DXC announces CEO change as Mike Lawrie retires
16th September 2019
B2B IT services provider DXCTechnology has announced the appointment of Mike Salvino as its President and Chief Executive Officer following the retirement of Mike Lawrie. Lawrie had served as DXC’s Chairman, President and CEO since the firm’s launch in 2017. His retirement from DXC’s board will be effective on December 31. “Mike Salvino, ... Read the full article
VIBE to close A&H, Property D&F units
16th September 2019
Lloyd’s managing agent VIBE Syndicate Management has announced the closure of its Accident & Health and Property D&F units with immediate effect. Group Chief Executive Officer Joe England said the move follows a strategic review of Vibe’s businesses and that the decision will remain in effect until the market returns to ... Read the full article
AXA XL promotes three within its UK Client & Distribution team
16th September 2019
Global insurer and reinsurer AXA XL has promoted Allan Murley to Head of Broker Management as part of a number of changes to its UK Client and Distribution team. Murley's appointment is effective immediately and in his new role, he will be responsible for leading the UK Broker team and working ... Read the full article