Reinsurance News
BMS hires Pro Global’s Mory Katz to support legacy expansion
8th October 2020
Specialist re/insurance broker BMS Group has hired Mory Katz to work with its reinsurance arm as a senior consultant. Prior to joining BMS, Katz served as a managing director at Pro Global, leading its US operations and business development. He was also the Chief Executive Officer of the company’s two US subsidiaries, ... Read the full article
Brit focuses on diversity in London insurance market
8th October 2020
Specialty re/insurer Brit has announced a new partnership with the African Caribbean Insurance Network (ACIN), which aims to improve ethnic representation across the London insurance market. The ACIN was formed in 2018 with the aim to boost black and minority ethnic representation within the insurance space, whilst also enhancing cultural competence ... Read the full article
E&S digital wholesale platform Pathpoint launches
8th October 2020
Pathpoint, a San Francisco-based Excess & Surplus digital wholesale distributor, has announced its launch. The company has been built to connect retail agents and E&S carriers through its proprietary platform built to quote and bind Excess & Surplus lines coverage. With efficiencies gained from the technology, Pathpoint claims to distribute its products ... Read the full article
National Flood Services awarded NFIP contract
8th October 2020
US flood solutions provider, National Flood Services, has announced that it has been awarded the National Flood Insurance Program Direct (NFIP) service provider contract. NFIP facilitates the issuance and administration of NFIP insurance policies on behalf of the Federal Emergency Management Agency (FEMA), an agency of the Department of Homeland Security. The ... Read the full article
Unemployment tops infectious diseases as main concern for business execs: WEF
8th October 2020
Unemployment has topped out infectious diseases as the main concern for business executives globally, according to a World Economic Forum survey. Fiscal crisis was the top concern in 2019 but came third in this year's survey, which included responses from business leaders in regions including East Asia and the Pacific, Eurasia, Europe, Latin ... Read the full article
Hurricane Delta sweeps across Mexico’s coast, takes aim at US
8th October 2020
Hurricane Delta is tracking towards the US Gulf Coast after making its first landfall on Mexico’s Yucatan Peninsula as a Category 2 storm. Delta buffeted the northern coast of Quintana Roo, Yucatan with wind speeds of 175km/h (110mph), having weakened slightly from its earlier Category 4 strengths. The storm is expected to ... Read the full article
Aon adds Sue Lee to capital advisory team as director in corporate finance
8th October 2020
Re/insurance broker Aon has added Sue Lee to its reinsurance solutions capital advisory team as a director in corporate finance. Lee joins Aon from Athene Holding, where she served as investor relations director. Her previous roles included equity research vice president at Barclays, and investment banking associate at BMO Capital Markets. Lee now ... Read the full article
Commercial property rates up 7% in Q3: MarketScout
8th October 2020
Commercial property rates increased by 7% during the third quarter of 2020, according to data from MarketScout, the US electronic insurance exchange and specialty MGA. The firm found that re/insurance rates increased by 6.25% on average in Q3, with rate increases on every line of coverage and industry class. The largest rate ... Read the full article
Chubb names Head of Claims for Overseas General Insurance
8th October 2020
Global re/insurer Chubb has announced the appointment of Nandini Mani as Executive Vice President, Claims for Overseas General Insurance, the company's international general insurance business. Mani joined Chubb in 2015 and was previously Deputy General Counsel and Head of Global Litigation. Prior to this, she served as Managing Counsel at BNY Mellon ... Read the full article
Munich Re Automation Solutions to invest €16mn in R&D program
8th October 2020
Dublin-based Munich Re Automation Solutions, a subsidiary of the global reinsurer, is set to invest roughly €16 million in a research & development program and transform it into a platform company The investment in Horizons, also based in Dublin, is supported by the Irish Government through IDA Ireland and will enable the ... Read the full article
Sompo Intl. launches D&O policy for public companies
8th October 2020
Bermuda-based specialty property and casualty re/insurer Sompo International has launched a new Directors and Officers (D&O) liability insurance policy for publicly traded companies. Sompo’s public D&O solution is the latest addition to its existing Management Assurance Platform (MAP). Introduced in 2019, MAP is designed to provide private companies with the ability to ... Read the full article
Lloyd’s targets $15bn of new business, 13% growth in 2021: Neal
7th October 2020
The specialist Lloyd's of London insurance and reinsurance marketplace expects to approve business plans that will enable the market to write roughly $15 billion of new business in 2021, according to Chief Executive Officer (CEO), John Neal. In the latest of Aon's series of fireside chats with industry experts and leaders, ... Read the full article
Markel to consolidate property cat reinsurance business under Nephila
7th October 2020
Financial holding company Markel is set to consolidate its property catastrophe reinsurance business under the Nephila brand. The consolidation will see Markel refocus its global reinsurance unit towards underwriting and growing its casualty and specialty lines. While some of the unit's employees may have the opportunity to join the Nephila team, Markel ... Read the full article
London company market premium up 10% in 2019: IUA
7th October 2020
New data from the International Underwriting Association (IUA) shows that premium income for the London company market grew by 10% last year with £21.436 billion of large commercial and wholesale risks underwritten by firms in the City. The IUA also found that a further $6.197 billion was written in other offices ... Read the full article
BDO USA takes over property claims team at Quantum Global Advisors
7th October 2020
US accounting and advisory firm BDO USA has strengthened its property claims services with the addition of 28 professionals from Quantum Global Advisors, an international insurance claim and valuation consulting practice headquartered in Chicago. The combination with Quantum, which is set for completion on October 16th, is expected to significantly boost ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
