Reinsurance News
Voce’s proposal shows a “lack of experience in insurance company strategies”, says Argo
3rd May 2019
Argo Group International Holdings has commented on Voce Capital Management's proposed "plan", underlining continued false and misleading claims, as the war of words between the two continues. A back-and-forth between the two companies has been ongoing since February of this year, when Voce accused Argo’s Chief Executive Officer (CEO), Mark E. ... Read the full article
AmWINs launches commercial property flood product with TFIA
3rd May 2019
Global specialty insurance provider AmWINS has launched a new commercial property flood product in conjunction with its recent acquisition of Florida-based MGA The Flood Insurance Agency (TFIA). The new product, called FloodFLEX, is designed to eliminate out-of-pocket expenses not covered by traditional flood insurance, AmWINS explained. FloodFLEX increases the loss payable ... Read the full article
Markel appoints AIG’s Guenter Kryszon to Global Property role
3rd May 2019
Markel Corporation has announced that Guenter Kryszon will be joining the company as Executive Underwriting Officer for Global Property, effective 13 May 2019. Kryszon most recently served as Head of Retail Property at American International Group (AIG). He has spent the previous five years at AIG, moving through several senior roles, including ... Read the full article
DARAG completes acquisition of DONAU’s Italian portfolio
3rd May 2019
Legacy acquirer DARAG Group Limited has announced that its acquisition of the Italian portfolio of DONAU Versicherung AG has been approved by the Austrian financial authority, Finanzmarktaufsicht (FMA). The purchase agreement was initially signed in December 2018, and now, with the approval of the Italian Istituto per la vigilanza sulle assicurazioni, DARGA has ... Read the full article
AXA XL’s Q1 revenue growth offset by 2% reinsurance drop
3rd May 2019
AXA XL has reported total revenue growth of 7% for the first quarter of 2019, driven by 16% growth for P&C insurance and 4% growth for specialty, but offset by a 2% decline for reinsurance. Total revenue rose to €6.1 billion, made up of €2.9 billion from P&C insurance, €1.4 billion ... Read the full article
Samsung Fire & Marine takes stake in Canopius
3rd May 2019
Global specialty lines re/insurer Canopius has signed an agreement that will see Samsung Fire & Marine Insurance, part of the Korean tech giant, become a significant minority investor in the company. The investment, which is subject to necessary regulatory consents, is expected to close in the third quarter of 2019. “I am ... Read the full article
MS Amlin enhances rural motor insurance offering with digital trading solution
3rd May 2019
Insurer and reinsurer MS Amlin has announced a significant update to its Countrywise insurance products and claims solutions, designed to meet the agricultural motor insurance needs of both brokers and their customers. To upgrade its Countrywise insurance product and claims solutions, MS Amlin has launched a new and innovative digital trading ... Read the full article
Hamilton Re promotes Hanni Ali to SVP for Risk & Analytics
3rd May 2019
Hamilton Re, the reinsurance arm of Bermuda-based Hamilton Insurance Group, has announced the promotion of Hanni Ali to Senior Vice President (SVP), Risk & Analytics. Ali leads the Risk & Analytics function at Hamilton Re, overseeing a team of nine that include catastrophe modellers and data scientists. He is also responsible for ... Read the full article
CoreLogic offers new property exposure solution for tornadoes
3rd May 2019
Global catastrophe risk modeller CoreLogic has announced the launch of Tornado Path Maps, a new solution that promises to deliver precise damage exposure data from a tornadic event in minutes. CoreLogic claims that the solution will allow insurers to anticipate claims volume and adjuster deployment for streamlined claims processing, offering quicker ... Read the full article
Large losses hit Swiss Re’s P&C unit, L&H Re posts record net income
3rd May 2019
Global reinsurance giant Swiss Re has announced net income of $429 million for the first-quarter of 2019, driven by a solid performance in its Life & Health Reinsurance segment, somewhat offset by large losses. At $429 million, Swiss Re's Q1 2019 net income declined slightly year-on-year from $457 million. The firm's ... Read the full article
Heightened demand, M&A drives premium growth for reinsurers in 2018: Aon
2nd May 2019
The group of 23 reinsurers that form the Aon Reinsurance Aggregate (ARA) recorded strong premium growth in 2018, supported by previous merger and acquisition (M&A) activity and greater demand for reinsurance protection. Overall, property and casualty (P&C) net premiums for the cohort of companies increased 9% to $154 billion, from the ... Read the full article
Leap Life announces digital insurance platform, backed by RGAX
2nd May 2019
Leap Life, an insurtech company backed by RGAX, the transformation unit of Reinsurance Group of America (RGA), has announced the launch of its personalised digital life insurance platform. The platform aims to predict an applicant’s chances of getting approved, using a matching algorithm that optimises need, health and financial fit to ... Read the full article
EC3 Brokers appoints James Murphy Head of Broking
2nd May 2019
Re/insurance specialists EC3 Brokers has announced the appointment of James Murphy to the newly-created role of Head of Broking. Murphy joined on 1 May from Integro Insurance, Brokers where he served as Principal. He will now be responsible for expanding EC3’s marketing activities and developing new partnerships. He has worked in the London ... Read the full article
Chris DeMuth joins BMS Capital Advisory from JLT
2nd May 2019
BMS Group, the independent specialist re/insurance broker, has announced the appointment of Chris DeMuth as Senior Vice President (SVP) at BMS Capital Advisory, its investment banking division. DeMuth joins BMS from JLT Capital Markets, where he most recently served as SVP, providing M&A, capital raise and advisory services to the re/insurance ... Read the full article
Chubb’s Tony Jordan joins AXIS Capital as Group Chief Actuary
2nd May 2019
AXIS Capital Holdings Limited has appointed global re/insurer Chubb's Tony Jordan as its new Group Chief Actuary, reporting to Peter Vogt, AXIS Capital's Group Chief Financial Officer (CFO). Based in the firm's London office, Jordan will be responsible for overseeing AXIS Capital's corporate actuarial function, which includes reserving functions, capital modelling ... Read the full article