Reinsurance News
Unified Life to reinsure all life & health policies of Midwest Holding business
7th December 2018
Midwest Holding Inc. has announced that its wholly owned subsidiary, American Life & Security Corp., has entered into an Assumption and Indemnity Reinsurance Agreement with Texan re/insurer Unified Life Insurance Company. The agreement will see Unified Life take on 100% of the liabilities and obligations of all American Life’s life, annuity ... Read the full article
Stephen McGill appointed Senior VP, CUO of Validus Specialty
7th December 2018
Validus Specialty Underwriting Services has announced the appointment of Stephen McGill as Senior Vice President and Chief Underwriting Officer of Validus Specialty, Western World and Crop Risk Services. He will report to Chief Executive Officer Jonathan Ritz and become a member of the organisation's leadership team. Validus says McGill will lead the ... Read the full article
Arch Insurance completes acquisition of McNeil & Co.
7th December 2018
Bermuda-based re/insurance firm Arch Capital Group Ltd. has completed its previously announced acquisition of New York insurer McNeil & Co. Arch announced last month that it planned to purchase the company, which offers specialised risk management and insurance programs, for an undisclosed sum. Following the acquisition, McNeil & Co. will operate ... Read the full article
PartnerRe appoints Kelly Munger as Head of U.S Health
7th December 2018
Bermuda-based reinsurer PartnerRe has announced the appointment of Kelly Munger as Head of U.S Health, effective 17 December 2018. Munger joins with 30 years’ experience in the reinsurance industry, having specialised in the U.S Group Life, Accident and Health business for the majority of her career In her new role, Munger will ... Read the full article
Swiss Re appoints Paul Murray as Head of Life & Health Products
7th December 2018
Swiss Re has announced the appointment of Paul Murray to the position of Head Life & Health (L&H) Products, effective immediately. He takes on the role from Russell Higginbotham, who was appointed as Swiss Re’s Chief Executive Officer (CEO) for Reinsurance EMEA in September. Murray has been with Swiss Re since ... Read the full article
Liberty Specialty Markets to rebrand Ironshore Bermuda
7th December 2018
Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has revealed that it plans to integrate its Ironshore Bermuda operations and brands into a single business called Liberty Specialty Markets Bermuda. The Bermuda-based operations comprise Ironshore Bermuda, which was formed in 2007 and writes property, energy and specialty re/insurance, and ... Read the full article
Swiss Re Corp Solutions appoints Aerni as Global Head of Casualty, FinPro Lines
7th December 2018
Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has appointed Phillippe Aerni as Global Head of Casualty, Financial & Professional Lines, effective 1 January 2019. Based in Zurich, Aerni will assume the Global Casualty role from Daniel Vetter, who moves into the role of Head E&S North ... Read the full article
Beazley names Christine LaSala as Senior Independent Director
7th December 2018
Specialist re/insurer Beazley has announced the appointment of Christine LaSala as Senior Independent Director, effective from the company’s Annual General Meeting (AGM) on 21 March 2019. LaSala replaces George Blunden, who will step down from the board at the conclusion of AGM. Blunden retired as Senior Vice President and Director from AllianceBernstein ... Read the full article
Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown
6th December 2018
The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article
QBE European Operations adds trio of underwriters to trade credit team
6th December 2018
QBE European Operations, part of the QBE Insurance Group, has added three underwriters to its trade credit team as it seeks to take advantage of the Brexit-driven increase in demand for trade credit cover. According to recent Association of British Insurers (ABI) figures, trade credit insurance claims in the UK have ... Read the full article
AIR Worldwide puts insured Camp Wildfire losses at up to $9 billion
6th December 2018
Catastrophe risk modelling firm AIR Worldwide has estimated that insured losses from the Camp Wildfire, which burnt through California’s Butte County last month, will be in the range of $6 billion to $9 billion. The Camp Wildfire became the deadliest and most destructive wildfire in California’s history after devastating the town ... Read the full article
Sompo to partner with German insurer SV on agricultural solutions
6th December 2018
Bermuda-based specialty re/insurer Sompo International Holdings and German insurer SV SparkassenVersicherung have entered into a partnership that will see the introduction of new insurance solutions to the agriculture sector. Building on a business relationship which stretches back to 2006, the partnership will leverage Sompo’s global ‘AgriSompo’ platform, which delivers a common ... Read the full article
A.M. Best stable on reinsurance for 2019
6th December 2018
Global ratings agency A.M. Best has revised its outlook for the global reinsurance industry to stable from negative for 2019, driven by the convergence of traditional and third-party, or alternative reinsurance capital among non-life players. The ratings agency's revised outlook is also a result of more stable pricing, albeit at levels ... Read the full article
CNA Hardy receives Brexit structure approval
6th December 2018
Specialist commercial insurer CNA Hardy has announced that CNA Insurance Company Limited (CICL) has received approval to transfer its European business to its new Luxembourg subsidiary. The approval from the High Court of England & Wales enables the firm, which provides insurance for clients within the Lloyd's and company markets, to ... Read the full article
Environmental collective urges re/insurers to pull support for Australian coal mine
6th December 2018
A collective of 73 environmental organisations has penned a letter to 30 global re/insurance companies urging them to rule out any insurance services for Adani Group’s Carmichael coal mine and associated rail project in Queensland, Australia. The organisations, which collectively represent 76 million members, hope to build on the momentum of ... Read the full article