Reinsurance News
Maiden sells U.S. treaty reinsurance renewal rights to TransRe as it simplifies
30th August 2018
Bermuda-headquartered Maiden Holdings has announced the sale of its U.S treaty reinsurance underwriting business renewal rights to TransRe, in a deal that does not include its AmTrust Business or its International Insurance Services and Capital Solutions businesses in Europe. Concurrently, to ensure a successful transition for customers and brokers, Tom Highet, ... Read the full article
African Risk Capacity adds new expertise to Board of its insurance arm
30th August 2018
The African Risk Capacity Insurance Company Limited (ARC Ltd) has appointed Abdoulie Janneh, Delphine Traoré Maïdou, and Frannie Leautier as Non-Executive Directors and Michel Jarraud as a Special Advisor on its Board of Directors, bringing new strategic guidance to its operations. ARC Ltd is a financial affiliate of the African Risk ... Read the full article
Hong Kong responds to infrastructure demand with reinsurance tax incentives
30th August 2018
The Hong Kong government will introduce a number of tax incentives to promote reinsurance, marine insurance, and specialty insurance as the city aims to become a regional risk management centre, according to the South China Morning Post (SCMP). Financial Secretary Paul Chan Mo-po said the incentives were in response to the ... Read the full article
SCOR Global Life partners with health intelligence insurtech HLI
29th August 2018
SCOR Global Life, a division of the France-headquartered reinsurer, has announced a partnership with Human Longevity, Inc (HLI), a provider of in-depth and sophisticated health information services. HLI aims to prevent, reduce or postpone the onset of preventable conditions by combining genome sequencing, machine learning, full-body MRI scans and blood samples ... Read the full article
Marsh names Andrew Hickman as Head of Data Science
29th August 2018
Global insurance and reinsurance broker Marsh has appointed Andrew Hickman to the newly created role of Global Head of Data Science within its broader Digital, Data, and Analytics Practice. Hickman will now be responsible for advancing Marsh’s risk modelling and actuarial capabilities to drive new client solutions, building external data and ... Read the full article
ACORD simplifies testing process for Data Standards trading partners
29th August 2018
ACORD, the global standards body for the re/insurance industry, has announced that it plans to simplify the process of connecting trading partners that use ACORD Standards by enhancing the capabilities of its Test Harness. The enhanced testing process will involve expanding the number of scenarios available in the testing environment, and ... Read the full article
AXIS Insurance appoints James Hamilton as Global Head of Accident & Health
29th August 2018
AXIS Insurance, a subsidiary of AXIS Capital Holdings, has appointed James Hamilton to the newly-created role of Global Head of Accident & Health, effective immediately. Hamilton joined AXIS in 2010, serving for eight years as Executive Vice President and Chief Executive Officer, North America Insurance for the company’s Accident & Health ... Read the full article
U.S P&C re/insurers given H1 boost following 2017 catastrophes, Fitch Ratings
29th August 2018
A decrease in natural catastrophe losses relative to 2017 helped drive positive mid-year results for U.S property and casualty (P&C) re/insurers, according to a report by Fitch Ratings. Operating performance moderately improved for P&C re/insurers during H1 2018 thanks to improved core loss ratios, lower catastrophe-related losses and lower taxes along ... Read the full article
Simplitium adds CatRisk’s Middle East and Africa earthquake model to ModEx platform
29th August 2018
Simplitium, a global financial services technology provider, has announced that catastrophe risk modeller CatRisk Solutions is to offer its Middle East and Africa Earthquake Model on Simplitium’s multi-vendor ModEx platform. Additionally, Simplitium said that global reinsurance broker Chedid Re had been signed as the first joint client for the service, and ... Read the full article
MetLife develops new claims-free blockchain health insurance product
29th August 2018
MetLife Asia’s Singapore-based innovation centre, LumenLab, has begun testing a new insurance solution that uses blockchain technology to trigger automatic payouts upon diagnosis of certain health conditions, without the need to make a claim. The experimental product, called Vitana, is currently designed to offer pregnant women financial protection in case of ... Read the full article
DWF adds re/insurance expertise to Singapore practice with new partner
29th August 2018
Multinational law firm DWF has strengthened its transactional practice in the Asia Pacific region with the appointment of corporate and regulatory partner Jonathan Goacher to its Singapore office. Goacher joins DWF from Kennedys, where he recently led the firm’s regional corporate insurance practice, before which he was a consultant to DLA ... Read the full article
Carriers sufficiently reinsured to withstand Hurricane Lane losses: A.M. Best
29th August 2018
Insurance carriers operating in Hawaii have sufficient capital and appropriate reinsurance programs in place to effectively absorb losses resulting from Hurricane Lane, which battered Hawaii with floods and landslides last week, according to A.M. Best. While Hurricane Lane never quite made direct landfall on Hawaii, it brought over 50 inches ... Read the full article
THB names Declan Durkan as Head of UK Risk Solutions business
29th August 2018
THB, the specialist insurance and reinsurance broker, has announced the appointment of Declan Durkan as Managing Director of THB UK Risk Solutions, the company’s wholesale broking operation that places UK risks on behalf of 1,300 brokers. Durkan joined THB in 2017 as Commercial Placement Director, before which he held a variety ... Read the full article
Focus on emerging ecosystems supports growth at ZhongAn Online in H1
29th August 2018
China's largest online-only insurance company, ZhongAn Online P&C Insurance Co., Ltd., has recorded solid growth during the first-half of 2018, driven by its increased focus on "emerging ecosystems" and growing demand among the younger generation. The internet-based InsurTech firm recorded total premiums of RMB 5,148.2 million (US$756.4 million) during the first ... Read the full article
India’s planned nat cat re/insurance pool falters over funding disagreements
29th August 2018
A proposed natural catastrophe re/insurance pool that would provide coverage for incidents like floods, earthquakes, and landslides in India has been delayed for almost five years now due to a lack of consensus on funding and size, according to sources at Moneycontrol. Re/insurance companies have reportedly been unable to agree on ... Read the full article