Reinsurance News
COVID-19 impacts UK manufacturers supply chain for Brexit: Lockton
27th November 2020
Insurance broker Lockton has released a report exploring how the COVID-19 pandemic has impacted the preparations for 500 different UK manufacturers. In its survey, 46% had said that their supply chain plans have been negatively affected by the pandemic, with a further 25% stating they have not made the appropriate arrangements, ... Read the full article
Swiss Re CorSo names Manuela Baroncini as Global Head E&C
27th November 2020
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurer Swiss Re, has announced the appointment of Manuela Baroncini as Global Head Engineering & Construction (E&C), effective March 1st, 2021. In her new role, she will be based in London and will report to Martin Hegelbach, Head Property & Specialty. Baroncini takes ... Read the full article
MS Amlin hires Head of Risk Engineering
27th November 2020
Lloyd's of London insurer and reinsurer, MS Amlin has announced that Pierre Edouard de la Roncière has joined its European business as Head of Risk Engineering. de la Roncière will be bringing a range of experience in industrial risk management, loss adjusting and claims analysis across various industrial sectors. He will be ... Read the full article
Fitch maintains stable outlook on German non-life for 2021
27th November 2020
Fitch Ratings has held its stable outlook on the German non-life insurance market for 2021, noting an expectation for underwriting discipline to be maintained and for insurers to achieve further premium growth in commercial lines. The ratings agency forecasts premiums to grow 3% in 2020 and 2% in 2021, driven by ... Read the full article
We must future-proof Lloyd’s, says CEO John Neal
26th November 2020
As efforts to improve Lloyd's of London's operating performance start to take hold, it's imperative that the specialist insurance and reinsurance marketplace delivers sustainable, long-term profitability, according to its Chief Executive Officer (CEO), John Neal. Addressing the media earlier today, Neal discussed the three-year journey the market's been on to improve ... Read the full article
Intact wraps up $3.2 billion capital raise ahead of RSA acquisition
26th November 2020
Canadian property and casualty insurer Intact has taken a step closer to securing its joint-acquisition of RSA with the successful completion of a previously-announced $3.2 billion capital raise. The $3.2 billion was raised via a private placement of 23.8 million subscription receipts to Caisse de dépôt et placement du Québec, ... Read the full article
R&Q receives approval for Insurance Business Transfer
26th November 2020
Randall & Quilter Investment Holdings has received approval for an Insurance Business Transfer to take place between its subsidiary National Legacy Insurance Company's portfolio and Sentry Insurance a Mutual Company. The transaction has been approved by the Oklahoma Insurance Commissioner, to which the application included extensive financial information, along with a ... Read the full article
HX’s Flandro underlines positive outlook despite difficult year
26th November 2020
With Covid-19 losses increasing sector risk premiums, the presence of higher rates across most lines is creating opportunities for margin expansion and driving a continuing inflow of new investment capital, according to David Flandro, Managing Director at HX Analytics. In a presentation given during the company's third quarter earnings update, Flandro ... Read the full article
Government can’t continue as “insurer of last resort”: CII
26th November 2020
A survey conducted by the Chartered Insurance Institute has found that 54% of its members do not feel it is economically sustainable for the government to “step in as an insurer of last resort.” The survey included 476 CII members and was conducted in October. “Ultimately, no government can save every business,” said ... Read the full article
Zywave confirms acquisition of Insurance Technologies Corporation
26th November 2020
Zywave, a provider of front office distribution SaaS solutions has signed a definitive agreement to acquire Insurance Technologies Corporation (ITC). The company, which is backed by Clearlake Capital Group and Aurora Capital Partners plans to align and integrate ITC's products within its Sales Cloud offering. This would include multiple front-of-office software solutions ... Read the full article
Aviva sees new business sales spike in 9M thanks to higher bulk annuity sales
26th November 2020
London-headquartered insurer Aviva saw UK & Ireland Life new business sales increase 40% to £9.2 billion over the first nine months of 2020, driven by £5 billion of bulk purchase annuity sales, up from £2.1 billion in the same period last year. In UK Savings and Retirement, net fund flows increased 20% ... Read the full article
Gallagher Re names Director of Brazilian operations
26th November 2020
Specialist reinsurance broker Gallagher Re has announced the appointment of Thiago Navega as Director of its Brazilian operations. The appointment is expected to bolster the broker’s growing presence in the Latin America region, particularly in the global energy sector. Navega will be based in Gallagher Re’s Rio de Janeiro office, reporting to ... Read the full article
Gallagher hires Regional Managing Director for UK Midlands
26th November 2020
Insurance broker Gallagher has announced that Gareth Parry-Jones has been appointed Regional Managing Director of the Midlands, UK. In his new role, Parry-Jones is responsible for leading over 200 colleagues across branches in Birmingham, Coventry and Leicester. He will report into Peter Matthews, Managing Director of the North in Gallagher’s UK Retail ... Read the full article
AGCS names Karina Suarez as Chief Actuary
26th November 2020
Allianz Global Corporate & Specialty (AGCS), Allianz’s specialist carrier for corporate insurance business, has announced the appointments of Karina Suarez as Chief Actuary and Christian Kortebein as Chief Pricing Actuary. Suarez Rodriguez took up her new Munich-based role earlier this month, reporting to AGCS Chief Financial Officer Claire-Marie Coste-Lepoutre. She succeeds Christian ... Read the full article
Need for creativity high amid challenging investment landscape: Prospectus 2021
26th November 2020
Although news around a potential COVID-19 vaccine is a positive step, the investment landscape remains extremely challenging for global re/insurers and there's a continued need for creativity and innovation, according to industry experts. On day two of Prospectus 2021, the audience heard from three very experienced investors whose firms ... Read the full article
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