Reinsurance News
777 Re completes two new reinsurance transactions
11th December 2020
Bermuda-based reinsurer 777 Re has announced the completion of two reinsurance transactions with US based insurance companies. Under the agreements, the direct writers will continue to service and administer the policies. The transactions will cover a quota share of newly written fixed index annuity (FIA) policies. 777 Re says principal protection and growth ... Read the full article
Oswald and RCM&D launch Unison Risk Advisors
11th December 2020
Independent re/insurance brokerage and risk advisory firms, Oswald Companies and RCM&D, have agreed to strategically merge and launch Unison Risk Advisors. Both firms plan to maintain their independent brands, operations and management, while merging under the umbrella of Unison Risk Advisors, dba of JBO Holding Company, to expand service capabilities and ... Read the full article
Long-time members Greetham & Zeller to retire from AXIS board
11th December 2020
Bermuda-based re/insurer AXIS Capital Holdings Limited has announced that both Christopher V. Greetham and Wilhelm Zeller are to retire from the company's board of directors, effective December 31st, 2020. Greetham has served on the board of AXIS Capital since October of 2006, while Zeller joined the company's board of directors in ... Read the full article
Zurich partners with Plum Underwriting on UK home insurance
11th December 2020
Zurich UK has entered into a long term agreement with specialist MGA Plum Underwriting to provide capacity for its UK non-standard home insurance portfolio. The five-year partnership replaces current capacity from Lloyd’s and focuses on a portfolio of targeted products in the non-standard property segment. It will cater for risks including non-standard ... Read the full article
Beazley adds Pierre-Olivier Desaulle to board as non-exec director
11th December 2020
The board of specialist insurer and reinsurer, Beazley, has announced the addition of Pierre-Olivier Desaulle as a non-executive director, effective January 1st, 2021. Desaulle has been serving as a non-executive director on the firm's subsidiary board, Beazley Insurance dac, since November of 2017. Formerly, he served as the Chief Executive Officer (CEO) ... Read the full article
November storms raise Atlantic season financial toll: Aon
11th December 2020
Aon's November monthly Global Catastrophe report highlights an estimated $9 billion in additional losses as a result of North America hurricane landfalls in the period, as well as record-setting tropical cyclones. After making landfall and driving significant losses in Nicaragua, Hurricane Eta then moved to Honduras and Guatemala, subsequently making a ... Read the full article
Improved pricing sees $6bn raised by re/insurers across Q4: Willis Re
11th December 2020
A new report from Willis Re, the reinsurance arm of global brokerage Willis Towers Watson, estimates that reinsurers globally have raised $6 billion across the fourth quarter of 2020. This figure would bring the year-to-date total to $19 billion, with a further $3b being contemplated and/or in progress. Willis Re attributes these ... Read the full article
Berkshire Hathaway GUARD selects new commercial fleet telematics program
11th December 2020
Berkshire Hathaway GUARD, a subsidiary of Warren Buffett’s global re/insurer, has selected IMS to provide a new commercial fleet insurance program. TrackMRI (Monitor, React, Improve) is a commercial fleet insurance telematics solution that includes device logistics support, data collection, scoring, fleet behaviour assessment and program analytics. As part of the program, IMS ... Read the full article
Fleming Re adds Martin Dolan to board
11th December 2020
Run-off reinsurance provider Fleming Re has appointed Martin Dolan to its board as an independent non-executive director. He is due to take up this role at the end of this year, with an additional duty to assist in the strategic development of Flemming Re over the next several years. Dolan has been ... Read the full article
McGill and Partners adapted well to COVID-19: Paul Summers
10th December 2020
Whilst some in the (re)insurance industry are still reeling from the shock of COVID-19, start-up specialist (re)insurance broker McGill and Partners says a focus on technology and creativity has allowed it to adapt well to the pandemic. This is the view of Paul Summers, Head of Global Facultative Reinsurance, who in ... Read the full article
Hamilton enters environmental insurance, appoints Markel’s Termini to lead
10th December 2020
Bermuda-based re/insurer Hamilton has entered the environmental insurance marketplace and appointed John Termini to lead the unit as US head of environmental. Termini brings over 25 years' professional/environmental experience and joins from Markel Specialty Insurance Company, where he was managing director, environmental & energy. Before his time at Markel he was with ... Read the full article
Ascot eyeing $400mn capital raise via senior notes offering
10th December 2020
Bermuda-domiciled specialty re/insurer Ascot is looking to raise $400 million via an offering of senior notes. The company hopes to use the new debt capital to help bolster growth opportunities across all of its insurance markets. The notes, due 2030, have a 10-year maturity and a fixed-rate coupon of 4.25% payable semi-annually. The ... Read the full article
B3i and msg partner on distributed ledger tech
10th December 2020
The Blockchain Insurance Industry Initiative (B3i) and msg, a German IT consulting and system integration company, have entered into a strategic partnership to develop reinsurance solutions based on distributed ledger technology (DLT). They will first focus on integrating SAP's and msg's joint solution into B3i’s network and services. Working together, the two ... Read the full article
AXA XL’s US construction arm promotes Rose Hall to VP role
10th December 2020
AXA XL's North America construction insurance business has promoted Rose Hall to the newly created role of vice president, head of construction innovation. Formerly head strategic operations manager for construction risk engineering, Hall reports to Gary Kaplan, president of AXA XL's construction insurance business. Hall joined AXA XL in 2015 as a ... Read the full article
Munich Re Automation Solutions expands Sun Life collaboration
10th December 2020
Munich Re Automation Solutions Ltd, an insurtech specialist and part of the Munich Re Group, has expanded its relationship with Sun Life Financial Inc. Currently, Sun Life advisers and clients in Canada are leveraging Munich Re Automation Solutions' cloud and managed services. This new and expanded collaboration provides access to various modules ... Read the full article
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