Reinsurance News
Generali (GC&C) appoints Alan Moore as UK Branch General Manager
13th October 2020
Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the appointment of Alan Moore as UK Branch General Manager. Reporting to CEO Manlio Lostuzzi, Moore will also retain his current role as Head of GC&C UK. Moore has 25 years’ experience in the re/insurance sector, ranging ... Read the full article
BILTIR adds Kevin Hovi to board
13th October 2020
Bermuda International Long Term Insurers and Reinsurers (BILTIR) has announced the appointment of Kevin Hovi to its board of directors. Hovi currently serves as president and Chief Financial Officer of Kuvare Life Re. Before that he was CFO at Longitude Re, as well as senior vice-president, senior portfolio manager at XL Catlin. Commenting ... Read the full article
Insurer optimism is growing but regulatory interventions a challenge: survey
13th October 2020
After a notable dip in the first half of the year, general insurance companies are increasingly confident and optimistic about profit expectations, although regulatory interventions continue to be a headwind for the sector, according to the latest CBI / PwC Financial Services Survey 2020. Across the survey, general insurers' optimism about ... Read the full article
Global P&C premiums to rebound by 3.8% in 2021: Swiss Re’s Haegeli
13th October 2020
After a moderate reduction in global non-life insurance premium growth this year, owing to the ongoing pandemic, Swiss Re Institute expects global property and casualty (P&C) premiums to rebound strongly by 3.8% in 2021. Recent analysis by Swiss Re's Group Chief Economist, Jerome Haegeli, explores the potential for non-life insurance market ... Read the full article
BoE reaches out to insurers over possibility of negative interest rates
13th October 2020
The Bank of England has reached out to all Prudential Regulation Authority-regulated insurers in an effort to understand firms’ operational readiness for the possibility of zero to negative interest rates. In August, the BoE’s Monetary Policy Committee (MPC) noted that it would continue to assess the appropriateness of a negative official ... Read the full article
John Ludlow steps down as Airmic CEO
13th October 2020
Airmic, the UK association for risk and insurance professionals, has announced that its Chief Executive, John Ludlow, is set to step down after nearly four years in the role. Ludlow will remain in the position until a successor is appointed, with the handover expected to take place in the first quarter ... Read the full article
Zurich to acquire HealthLogix & HealthInsite
13th October 2020
Zurich Insurance Group has announced that it is set to acquire digital health and wellbeing service providers, HealthLogix in Australia and HealthInsite in South Africa, to further expand its Zurich LiveWell health and wellbeing operation. The companies, jointly known as HLX, will be acquired from the founders. They offer customers a ... Read the full article
Inflation bad for non-life, good for life: Berenberg
12th October 2020
Analysts at Berenberg have examined the recent data on inflation and its potential impact on profit margins in life and non-life insurance. While the COVID-19 crisis is associated with weak and falling GDP, and with deflation rather than inflation, analysts note how correlation works in reverse too: deflation is a risk for ... Read the full article
Elisabetta Ibba appointed CEO of Lloyd’s broker AEC
12th October 2020
Coverys European Holdings (CEH), a division of Coverys, has added Elisabetta Ibba as Chief Executive Officer of its Lloyd's broker subsidiary AEC Group. Ibba brings over two decades' experience to the role and has been with AEC since 2004, when she was appointed to manage its Lloyd's business. She takes up her ... Read the full article
kWh structures further Solar Revenue Put with Swiss Re backing
12th October 2020
Solar risk manager kWh Analytics has structured yet another Solar Revenue Put with capacity support from Swiss Re Corporate Solutions, the commercial insurance division of reinsurer Swiss Re. The latest Solar Revenue Put was structured for a portfolio of 4,000 projects totalling approximately 33 MW DC of capacity located in the ... Read the full article
Fleming Re acquires Bermuda captive Sinclair
12th October 2020
Run-off reinsurance provider Fleming Re has agreed to acquire Sinclair Insurance Company, a Bermuda domiciled captive insurance company. Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the shareholders of Sinclair with an exit solution allowing legal finality, elimination of operating ... Read the full article
Lloyd’s report calls for simpler insurance products
12th October 2020
In the wake of the COVID-19 pandemic, a new report from insurance and reinsurance marketplace Lloyd’s of London has called on insurers to build simpler products to protect customers. The report sets out a number of ways in which the global re/insurance industry could remove complexity and provide better coverage clarity ... Read the full article
B.P. Marsh increases holding in EC3 Brokers to 35%
12th October 2020
Venture capital provider B.P. Marsh & Partners Plc has increased its stake in EC3 Brokers by around 15% to a holding of 35%, as the broker eyes accelerated strategic growth. In December 2018, B.P. Marsh announced an investment in the independent commercial lines Lloyd's brokerage, which saw the specialist investor ... Read the full article
Aspen Re America names AXIS Re’s Jim Brown as Head of Casualty
12th October 2020
Bermuda-based reinsurer Aspen Re, the reinsurance arm of Aspen Insurance Holdings Limited, has announced the appointment of Jim Brown as Head of Casualty, Aspen Re America. Effective October 12th, 2020, Brown will be based in the company's New York and Rocky Hill, CT, offices. In his new role, he takes on ... Read the full article
Charles Taylor adds Asia Practice Lead for BI & Financial Lines
12th October 2020
Provider of services and technology solutions to the insurance space, Charles Taylor, has announced the appointment of Matthew John Lim as Asia Practice Lead for Business Interruption and Financial Lines, to its Adjusting business based in Singapore. Lim will be bringing more than 10 years of experience in business interruption risk, ... Read the full article
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