Reinsurance News
Talanx highlights greater contribution from reinsurance in Q1
9th May 2019
The Talanx Group, reinsurance giant Hannover Re's parent company, has reported that its reinsurance segment provided a greater contribution to its consolidated net income in the first-quarter of 2019, assisted by a reduction in major losses. Talanx has announced an operating result of €616 million and a consolidated result of €235 ... Read the full article
InsurTech investments break records in Q1 2019: Willis Towers Watson
9th May 2019
For the third consecutive quarter, InsurTech funding surpassed the $1 billion mark in the opening three months of 2019, with 85 deals recorded with a total value of $1.42 billion, according to the latest quarterly InsurTech Briefing from insurance and reinsurance broker, Willis Towers Watson (WTW). When compared with the fourth-quarter ... Read the full article
MetLife hires Patrik Ringstroem as Chief Strategy Officer
9th May 2019
MetLife has announced that Patrik Ringstroem will join the company in July as Chief Strategy Officer, reporting to President and CEO Michel Khalaf. In this role, Ringstroem will be tasked with leading the team responsible for MetLife’s global strategy to help drive top and bottom line financial performance. He succeeds Rebecca Tadikonda, ... Read the full article
Zurich notes improved P&C pricing trends in the first-quarter
9th May 2019
Global insurer Zurich has report growth across all regions within its property and casualty (P&C) business in the first-quarter of 2019, while the firm remains on track to meet or exceed its full-year targets. The P&C segment recorded like-for-like premium growth of 4% in Q1 2019 to $9.2 billion. However, in ... Read the full article
Markel’s Nick James joins Arcus 1856 as head of North America property treaty
9th May 2019
Arcus Syndicate 1856 at Lloyd’s has appointed Nick James from Markel International as underwriting manager for North America property treaty. Arcus Syndicate 1856 is backed by third-party funds under the management of the Credit Suisse insurance and reinsurance linked investment team. He joins from Markel International, where he was Managing Director, property ... Read the full article
Beazley posts robust premium growth for Q1 2019
9th May 2019
Specialist insurer Beazley experienced higher than normal levels of claims within its marine, property, and reinsurance businesses during the first-quarter of 2019, while premium growth continued. Despite the pressures of increased levels of claims, the insurer did report 16% growth in gross written premiums (GWP) for the first-quarter of the year, ... Read the full article
Canopius’ Linus Phoon joins Munich Re as CEO for Singapore & Southeast Asia
9th May 2019
Munich Re has announced the appointment of Linus Phoon from Canopius as Chief Executive Officer (CEO) for Singapore & Southeast Asia, effective May 2nd, 2019. Phoon joins the reinsurance giant from Canopius, where he held the position as CEO Reinsurance Asia, since 2008. In his new role he will be based in ... Read the full article
Aon’s Jay Demeusy named US Vice Chairman, Reinsurance Solutions
9th May 2019
Global insurance and reinsurance broker Aon has appointed Jay Demeusy as US Vice Chairman of its Reinsurance Solutions business. Demeusy will also continue to chair the newly created Global Construction & Inland Marine Practice Group and will continue to lead the US retrocessional solutions team within Aon's Reinsurance Solutions division. He has ... Read the full article
Generali elects new Board members, approves financial statements
9th May 2019
Assicurazioni Generali S.p.A. has announced the election of 13 members of its Board of Directors following its recent shareholders meeting. Shareholders also approved the financial statements for the year 2018, which closed with a net profit of €1,473 million, and announced the distribution to the shareholders of a dividend of €0.90 ... Read the full article
RSA UK&I launches five industry pratices within GRS business
9th May 2019
The UK & International operations of multinational insurance group RSA has announced the launch of five industry practices within its Global Risk Solutions business. The practices consist of rail, chemical, food and beverage, real estate and renewables. They cover areas where RSA already has experience and a broad risk appetite. The practices ... Read the full article
Guy Carpenter announces numerous senior appointments
8th May 2019
Reinsurance broker Guy Carpenter has announced a number of international leadership appointments in light of Marsh & McLennan Companies' acquisition of JLT. The appointments are effective immediately and the reinsurance broker says that they reflect its efforts to align the firm's structure, and integrate the capabilities of JLT Re, ultimately creating ... Read the full article
Beazley names Richard Montminy Global Head of Property
8th May 2019
Specialist insurer Beazley has announced the appointment of Richard Montminy as Global Head of Property, effective May 20th, 2019. He brings more than 30 years of experience in both broking and senior underwriting within the commercial property space. Montminy joins Beazley from Zurich North America, where he was most recently Head of ... Read the full article
Talbot founder Rupert Atkin steps down as Non-Exec Chairman
8th May 2019
David Batchelor has been appointed Non-Executive Chairman of Talbot Group, the Lloyd's of London re/insurer acquired by AIG through its acquisition of Validus Holdings in 2018. The appointment is effective after the receipt of regulatory and Lloyd's approval. Batchelor, formerly of broker Marsh, replaces Talbot founder Rupert Atkin, who steps down ... Read the full article
Jean-Jacques Henchoz takes over as Hannover Re CEO
8th May 2019
The Annual General Meeting of reinsurance giant Hannover Re saw the approval of all proposed resolutions by a large majority, including the appointment of Jean-Jacques Henchoz as Chief Executive Officer (CEO) and the election of Torsten Leue as Chairman of the Supervisory Board. Departing CEO Ulrich Wallin addressed shareholders today at ... Read the full article
MarketScout highlights capacity crunch in both Florida & California
8th May 2019
In light of two major high net worth homeowners insurance companies deciding to either exit or reduce their underwritings, MarketScout has revealed that its new brush and wind facilities are structured to help agents that are looking to replace non-renewed business. The insurance distribution and underwriting firm notes that its underwriting ... Read the full article