Reinsurance News
WTW’s Nicolas Aubert elected President of IIL
25th September 2018
The Insurance Institute of London, an organisation created to support the professional development of members of the Chartered Insurance Institute Group, has announced that Nicolas Aubert has taken office following his election as President by the Vice Presidents and Council. Aubert currently serves as Head of Great Britain for Willis Towers ... Read the full article
SCOR CEO Denis Kessler responds to growing investor pressure
24th September 2018
Denis Kessler, Chairman and Chief Executive Officer (CEO) of SCOR, has responded to a letter from activist investor CIAM, which urged the company’s management to continue negotiations with French insurance group Covéa following SCOR's rejection of a €8.2 billion (US $9.6 billion) acquisition offer. Catherine Berjal, President of CIAM, suggested ... Read the full article
Andrew McMellin appointed CEO of Pioneer, Max Taylor departs
24th September 2018
London-headquartered Pioneer Underwriters, which operates as a risk carrier and managing agent currently with the backing of Liberty Syndicate 4472, has announced the appointment of Andrew McMellin as Chief Executive Officer. Additionally, Max Taylor, the Chairman of Pioneer since 2013, is to retire following a transition period, during which he will ... Read the full article
No new major trade barriers but significant obstacles remain: GRF
24th September 2018
The Global Reinsurance Forum (GRF) has announced that no new major trade barriers have been added to the latest edition of its Reinsurance Trade Barriers and Market Access Issues Worldwide list, but remains concerned that significant barriers are still in place worldwide. The GRF explained that trade barriers restrict the ability ... Read the full article
CIC launches microinsurance product for Kenyan farmers
24th September 2018
Over the next five years Kenyan cooperative insurer CIC Insurance Group plans to issue over 250,000 livestock microinsurance policies to previously-uninsured, low-income farmers. The venture, formulated as part of the International Cooperative and Mutual Insurance Federation’s 5-5-5 Mutual Microinsurance Strategy, will equate to 500,000 more cows insured in a country that ... Read the full article
Growth the main factor behind JLT acquisition: Dan Glaser
24th September 2018
Dan Glaser, President and Chief Executive Officer (CEO) of Marsh & McLennan Companies, Inc., has said that the firm's acquisition of JLT Group is about growth, noting that the two global insurance and reinsurance brokers are "stronger together". Marsh announced its $5.6 billion takeover of JLT Group on Tuesday, a deal ... Read the full article
ABIR members contributed $840mn to Bermuda economy in 2017
24th September 2018
Members of the Association of Bermuda Insurers & Reinsurers (ABIR) made a direct economy contribution to Bermuda of more than $840 million in 2017, according to the group’s annual survey results. Data from the 23 ABIR members accounted for impacts from travel, business, charitable giving, construction expenses and compensation paid to ... Read the full article
Gallagher hires Daniel Stewart as head of trade credit in Manchester
24th September 2018
Gallagher, the global re/insurance brokerage and risk management services firm, has appointed Daniel Stewart to lead its Manchester-based specialist UK Trade Credit & Surety Practice. Stewart has almost 20 years of specialist broking experience and joins Gallagher from Marsh, where he was a national practice leader for trade credit, responsible for ... Read the full article
Aon confident of organic growth, sees business relevance increasing: Analysts
24th September 2018
Global insurance and reinsurance broker Aon believes that the relevance of its business is on the rise and is confident that it can produce mid-single digit organic growth or higher, according to analysts at J.P. Morgan. Analysts met with Aon's Chief Financial Officer (CFO), Christa Davies and the Chief Operating Officer ... Read the full article
Marsh adds Tom Colraine to Board as Non-Exec Director
24th September 2018
Global insurance and reinsurance broker Marsh has appointed Tom Colraine as a Non-Executive independent member of its Board of Directors. Colraine has held many senior positions in the re/insurance sector throughout his career, including as Chief Operating Officer (COO) and Chief Financial Officer (CFO) of AIG Europe from 2009-2014. He also served ... Read the full article
Tamesis appoints Hiscox Re’s Ben Love to lead Underwriting
24th September 2018
Tamesis DUAL, part of the underwriting arm of the Hyperion Insurance Group, has appointed Ben Love Director of Underwriting; a London-based role which will see him report to Tony Lovett, Managing Director and Founder of the company. “We are very excited that Ben is joining the Tamesis team,” said Lovett . “He ... Read the full article
AXA XL appoints UK CEO for Catlin Underwriting and Insurance
24th September 2018
AXA XL has appointed Paul Greensmith as Chief Executive Officer (CEO) of its legal entities, Catlin Underwriting Agencies Ltd and XL Catlin Insurance Company UK Limited. Greensmith will take over from Paul Jardine, who is due to leave XL Catlin later this year. He will be tasked with developing the strategy ... Read the full article
R&Q completes reinsurance novation for Barbados captive
24th September 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has completed the novation of the commercial general liabilities of a Barbados based captive which reinsured the liabilities of its Canadian corporate parent. R&Q explained that the liabilities have been novated into its Bermuda based segregated account company. “We are delighted to have completed this ... Read the full article
LMG’s delegated authority platform to launch this week, market uptake high
24th September 2018
With the London Market Group’s (LMG) Delegated Authority: Submission, Access and Transformation Solution (DA SATS) set to go live this week, market uptake from brokers and underwriters has reportedly been strong. DA SATS is powered by Tide from Charles Taylor Insurtech and provides a central service to standardise the collection, validation, ... Read the full article
Swiss Re Corporate Solutions hires Berger from Allianz for CEO as Galvagni steps down
24th September 2018
A new CEO has been hired for reinsurance firm Swiss Re's Corporate Solutions division, as current Chief Executive Agostino Galvagni has decided to step down from the position at the end of 2018. Galvagni is set to leave Swiss Re and the company is replacing him with Andreas Berger, who it ... Read the full article