Reinsurance News
Beazley partnership to offer reputation risk solutions for US clients
29th April 2019
Specialty Lloyd’s re/insurer Beazley has announced a partnership with Tokio Marine Kiln and RenaissanceRe that aims to provide unique and flexible solutions for reputation risk. Custodian Consortium is designed to protect clients throughout the lifespan of a crisis by providing crisis management expertise and substantial loss-of-profits cover, to protect companies after ... Read the full article
Swiss Re signs cooperation agreement with China Pacific Insurance
29th April 2019
Global insurance and reinsurance giant Swiss Re has signed a new Cooperation Framework Agreement with China Pacific Insurance (Group) Co., Ltd., deepening ties within the important country. Swiss Re has long highlighted China as the likely source of significant growth in insurance and reinsurance premiums for the firm and has been ... Read the full article
Peak Re CEO Hahn becomes member of Geneva Association
29th April 2019
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited (Peak Re), has announced that its Chief Executive Officer, Franz Josef Hahn, has become a member of The Geneva Association, an international think tank for re/insurance and risk management issues. Established in 1973, The Geneva Association is a non-profit organisation funded by its ... Read the full article
R&Q’s 2018 profits up 45% to £14.3m despite deferred legacy deals
29th April 2019
Randall & Quilter (R&Q), the Bermuda-based program underwriting management and legacy acquisitions specialist, has posted 2018 pre-tax profits for continuing operations of £14.3 million, a 45% increase from the previous year. Meanwhile, R&Q’s continuing operating profit rose from £14.3 million in 2017 to £18.5 million. This comes despite a number of legacy ... Read the full article
QIC grows profits by 15% in Q1 with more cautious underwriting
29th April 2019
Qatar Insurance Company (QIC) has reported a net profit of USD $75 million for the first quarter of 2019, representing a 15% increase from the same period in 2018, driven by improved underwriting results and resilient investment income. In Q1 2019, QIC adopted a more restrictive and selective approach to new ... Read the full article
WTW adds Christophe Meurier as Global Head of Financial Solutions
29th April 2019
Global re/insurance broker Willis Towers Watson (WTW) has appointed Christophe Meurier as Global Head of Financial Solutions, effective July 1. Meurier succeeds Paul Davidson in the role, who is to continue as Chairman of Financial Solutions. He joins from BNP Paribas where he spent 25 years, most recently as the Head of ... Read the full article
Verisk looks to improve life insurance underwriting with Human API partnership
29th April 2019
Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API. The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers. Insurers will be able to use Verisk’s analytic tools to inform ... Read the full article
Argo Group hires Tony Cicio as head of HR
29th April 2019
Specialty re/insurer Argo Group International Holdings has announced the appointment of Tony Cicio as Chief Human Resources Officer. Cicio has 33 years of experience and most recently served as Vice President, Human Resources at Samsung Electronics. He has also filled several senior human resources role at Danone, and has worked as Chief ... Read the full article
Bright spots exist but overall, longevity market has more to do on efficiency: Kessler, Prudential
26th April 2019
In certain instances, the efficient management of longevity risk transactions does exist, but as a whole, the marketplace has more work to do throughout the process, from start to finish. This is according to the Head of the Longevity Risk Transfer at Prudential Financial, Inc. in the U.S., Amy Kessler, who ... Read the full article
SCOR & AXA commit to more coal exclusions
26th April 2019
French re/insurers SCOR and AXA have both committed to strengthening their coal exclusion policies in an effort to limit the effects of climate change, according to environmental campaigners at Unfriend Coal. A representative from the activist group questioned the companies at their annual general meetings this week, who both claimed to ... Read the full article
Law firm Schiff Hardin adds Thomas Zurek to re/insurance practice in Chicago
26th April 2019
U.S law firm Schiff Hardin LLP has announced the addition of Thomas M. Zurek as a counsel in its Insurance and Reinsurance and Litigation and Dispute Resolutions Practice Groups in Chicago. Most recently, Zurek served as Senior Chief Legal Counsel, Executive Vice President and Secretary of OneAmerica Financial Group. In this role, ... Read the full article
Lloyd’s Lab reveals second cohort of insurtechs
26th April 2019
Lloyd’s Lab, the innovation accelerator launched by the Lloyd’s market last year, has revealed the second cohort of insurtechs to be selected for its 10-week program. As with the first cohort, which commenced in October 2018, 10 teams of insurtech start-ups have been chosen to develop technology driven products and processes ... Read the full article
Tesla set to launch insurance product in matter of weeks, says CEO Musk
26th April 2019
Tesla, the Elon Musk-led automotive and energy company, is reportedly working on plans which would see the firm develop its own insurance product. Speaking in an earnings call with analysts this week Chief Executive Officer Musk claimed the product, which he says could launch in as soon as four weeks, will ... Read the full article
Underlying RoE declines as expenses ratios rise, combined ratio weakens: Willis Re
26th April 2019
Rising expense ratios and a steady but "relentless" decline in the underlying return on equity (RoE) is challenging the profitability of the subset of reinsurers in the Willis Reinsurance Index, reports reinsurance broker Willis Re. Willis Re's latest biannual Reinsurance Market report highlights a decline in global, dedicated reinsurance capital ... Read the full article
SCOR says shareholders oppose destabilisation attempt by CIAM
26th April 2019
SCOR has announced that its shareholders have voted to approve all resolutions proposed by the company’s Board of Directors, upholding Denis Kessler's position as both Chairman and CEO, and maintaining his current level of remuneration. The votes, held today during SCOR’s annual general meeting (AGM), rejected the "destabilising" resolutions proposed by ... Read the full article