Reinsurance News
Athene President talks “important” Lincoln deal and benefit of offshore strategy
18th August 2017
President of Athene Holding, Bill Wheeler, has praised the company's "important" flow reinsurance deal with Lincoln Financial Group, underlining the benefits of having an offshore strategy in the market. Athene Holding announced in early August that it had finalised a flow reinsurance treaty with Lincoln Financial Group, and President of the ... Read the full article
Euler Hermes appoints two executives in Asia Pacific region
18th August 2017
Trade credit insurer Euler Hermes has made two key appointments in its Asia Pacific region naming Clemens Philippi as chief executive officer (CEO) of Euler Hermes ASEAN and Benoit Ganzmann as CEO of China. Philippi will be based in Singapore and assume responsibility for the firms activities in Indonesia, Malaysia, the Philippines, ... Read the full article
MS Amlin announces CFO succession, as Rash replaces Hextall
18th August 2017
Specialty London headquartered insurance and reinsurance group MS Amlin has announced the succession plan for its Chief Finance and Operations Officer, as Richard Hextall will step down at the end of September. Hextall, who has been with MS Amlin since 1999, will be succeeded in the role of CFO by Chris ... Read the full article
Kenny Hogg joins Arthur J. Gallagher as Scotland regional managing director
18th August 2017
Arthur J. Gallagher has appointed Kenny Hogg to regional managing director (RMD) for Scotland succeeding Paul Kerry who has been promoted to Scotland chairman. Jon Simpkin, area managing director for North and Scotland, UK retail, said; “Attracting the industry’s best talent is central to our strategy as we continue to build ... Read the full article
HDI Global launches excess & surplus lines operation
18th August 2017
International industrial lines insurance group HDI Global Insurance Company (HDI Global) is branching out into the U.S. excess and surplus lines market, announced the formation of a subsidiary HDI Specialty Insurance Company (HDI Specialty). HDI Specialty will target the firm's U.S. and international clients, aiming to offer a platform for tailored ... Read the full article
Gen Re chairman speaks of Indian business challenges
18th August 2017
Winfried Heinen, chairman of Gen Re's executive board of directors, spoke out against the regulatory hurdles of operating in India, saying the requirement to hold capital within the Indian branch would mean higher costs are passed on to consumers, in a recent interview with The Hindu. “I think I am not ... Read the full article
Argo names Vindivich to lead U.S. E&S, Coates replaces at Trident
18th August 2017
International specialty insurance and reinsurance firm Argo Group International Holdings, Ltd.has appointed Ron Vindivich to lead its U.S. Excess & Surplus lines division, which includes the company’s Colony Specialty business. Sue Coates has been promoted to senior vice president, to replace Vindivich in his former role as head of Trident Public ... Read the full article
Reinsurers welcomed HCI’s use of tech to increase transparency during Matthew
18th August 2017
Paresh Patel, the Chairman and Chief Executive Officer (CEO) of HCI Group, Inc. has revealed how the company's adoption and utilisation of technology turned out to be a big differentiator during hurricane Matthew, raising the homeowners' insurers profile while provide its reinsurers with welcomed transparency. Speaking during the company's second-quarter 2017 ... Read the full article
JLT Re expands Bermuda team with Nicolas Bardon as Partner
18th August 2017
JLT Re has announced the expansion of its Bermuda reinsurance and retrocession broking team with the appointment of Nicolas Bardon to partner with effect immediately. The firm said the hire is a further step in its efforts to grow its international reach through Bermuda operations which have more than doubled in ... Read the full article
World Bank facilitates Philippines’ groundbreaking parametric insurance scheme
18th August 2017
The World Bank and the U.K. Department for International Development supported the Philippines in setting up the country's first ever national parametric catastrophe risk insurance scheme to transfer the risk of typhoons and earthquakes to the global reinsurance market. The scheme makes U.S. $206 million in cover available to local government units (LGUs) ... Read the full article
Digital tech revolution could increase casualty catastrophe risk
17th August 2017
Casualty catastrophe reinsurers could be hit with higher claims costs as legislation for software and app manufacturers evolves to shift the focus onto consumer contractual protections in coming years. Willis Towers Watson's Pete Thomas, Reinsurance and risk management expert, warned of the potential impact to reinsurers of expected upcoming legislative changes ... Read the full article
Cincinnati expands high-end clients programme to Washington & Massachusetts
17th August 2017
The Cincinnati Insurance company has expanded its Executive Capstone programme for high net worth personal insurance clients to Massachusetts and Washington. The Executive Capstone programme offers cover features, limits, and options to tailor insurance for clients with homes valued at more than $1 million, yachts, high-end cars, collector cars and personal articles. The ... Read the full article
QBE rationalises reinsurance, saves $350m+, makes greater use of Equator Re
17th August 2017
Australian headquartered insurance and reinsurance group QBE has rationalised its reinsurance spend in 2017, saving over $350 million so far as it restructured its program and made greater use of its Equator Re captive reinsurer. QBE has recognised annualised reinsurance cost savings of over $350 million, thanks to premium rate reductions, ... Read the full article
2017 H1 global catastrophe losses far below average: Swiss Re
17th August 2017
The first half of 2017 has been well below average for catastrophe losses which reached just $44 billion in H1, just 37% of last year's $117 billion for the same period, according to Swiss Re's preliminary sigma estimates. Fewer and less intense weather events were experienced this year so far globally; ... Read the full article
Hymans Robertson appoints Richard Purcell to Technical & Innovation Lead
17th August 2017
Actuarial and advisory consultancy Hymans Robertson, which deals with longevity risk transfer and longevity reinsurance or swap transactions, has appointed Richard Purcell to the role of Technical and Innovation Lead within its Life and Financial Services practice. Emma McWilliam, Head of Life and Financial Services at Hymans Robertson, welcomed Purcell to ... Read the full article
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