Reinsurance News
CNA posts $151mn net income for the second quarter
3rd August 2020
US commercial property and casualty insurer CNA has posted a net income of $151 million for the second quarter, down from $278 million in the prior year quarter. Core income stood at $99 million, down from $294 in Q2 2019. Th combined ratio of the company's property & casualty operations for the second quarter was ... Read the full article
Aon appoints Turner head of UK property within reinsurance solutions unit
3rd August 2020
Re/insurance broker Aon has appointed Catherine Turner as head of UK property within its reinsurance solutions business. She will also co-lead Aon's UK & Ireland and specialty casualty business with Richard Evans. Turner will report to Peter Stubbings, Reinsurance Solutions’ Chief Executive Officer of Global ReSpecialty. She has more than 20 years’ experience in ... Read the full article
Lloyd’s appoints Spyropoulos CEO of Asia
3rd August 2020
Specialist re/insurance marketplace Lloyd’s of London has appointed Pavlos Spyropoulos as country manager of Singapore and Chief Executive Officer of Lloyd's Asia. Spyropoulos has been with Lloyd's for over 12 years and has served across a number of senior positions. He relocated to Singapore in 2014 in order to assume responsibility for Lloyd’s ... Read the full article
Reardon to depart Hamilton Re, David Brown made interim CEO
3rd August 2020
Kathleen Reardon is leaving her position as the Chief Executive Officer of Bermuda based reinsurer Hamilton Re, with David Brown set to replace her as an interim CEO. Hamilton Insurance Group, Ltd. announced that David Brown has been appointed Interim CEO of its reinsurance division Hamilton Re, Ltd. The company said that CEO ... Read the full article
HDI Global announces new M&A insurance partnership with Fusion
3rd August 2020
HDI Global Specialty SE, the collaborative specialty insurance venture between HDI Global and Hannover Re, has announced a new underwriting agency partnership with Fusion to offer additional capacity in the mergers and acquisitions insurance market in Australia. This new partnership will see that HDI Global Speciality will assign its underwriting authority ... Read the full article
Pen Underwriting secures new £100m capacity deal
3rd August 2020
Pen Underwriting has secured an enhanced multi-year capacity deal that will enable it to write 20% more premium for solicitors’ professional indemnity (PI) on an annual basis. With this new deal pen will be able to will take its capacity up to more than £100m over three years which will then ... Read the full article
Climate data start-up Jupiter raises capital from Liberty Mutual, MS&AD
3rd August 2020
Jupiter, a provider of predictive data and analytics for climate risk, has raised additional capital from P&C insurers Liberty Mutual and MS&AD, as well as from SYSTEMIQ, which specialises in sustainable economic systems. Jupiter plans to use the new capital to fuel the expansion of its operations and increase product development. "In ... Read the full article
B3i announces first live partner application on Fluidity platform
3rd August 2020
The Blockchain Insurance Industry Initiative (B3i) has partnered with Reinsurance Technical Accounting Blockchain (Ritablock) to launch the first live partner application on its B3i Fluidity platform. B3i’s Fluidity platform is designed to facilitate and accelerate the development and deployment of partner applications, interoperable within B3i’s distributed ecosystem. This gives partners access to ... Read the full article
Miller to open new branch in Geneva
3rd August 2020
London wholesale and specialist re/insurance broker Miller is set to open a new branch in Geneva, Switzerland. The branch will initially focus on offering credit and political risks solutions to new and existing clients. These solutions will include financial institutions, commodity traders, exporters and investors. “Our Geneva branch will allow us to provide clients with ... Read the full article
WTW appoints Wise Xu as country leader for China
3rd August 2020
Global re/insurance broker WTW has appointed Wise Xu as country leader for China, effective September 1. Wise, who will retain his current position as head of corporate risk and broking in China, takes over from Smilla Yuan, who is set to leave the company towards the end of August. Based in Beijing, ... Read the full article
Cyber growth slows as profits less certain: AM Best
3rd August 2020
Cyber insurance premiums have slowed for the fourth straight year in the US as part of a trend that AM Best attributes to an expanding threat landscape and an increasing awareness of risks. Direct premiums written in the US cyber insurance market increased by 11% year over year in 2019 to ... Read the full article
Guy Carpenter promotes Mayer, Mowery & Crichton to Exec Committee
3rd August 2020
Reinsurance broker Guy Carpenter has named three new members of its Executive Committee, as Neil Mayer, Lara Mowery and John Crichton are all added to the senior leadership group. The company said the move is aligned with its "ongoing commitment to deliver differentiated value and experience to its clients." The Executive Committee ... Read the full article
Hiscox falls to H1 loss, as Covid-19 reserves rise to $232m
3rd August 2020
Hiscox Group, the specialist insurance and reinsurance underwriter, has fallen to a $138.9 million loss for the first-half of 2020, as it lifted its Covid-19 reserves to $232 million across the group. Previously, Hiscox had estimated that it faced roughly $150 million in claims from the Covid-19 pandemic, but this ... Read the full article
Milliman updates P&C reserve analysis system
3rd August 2020
Global consulting and actuarial firm Milliman has released version 2020b of its Arius solution, a family of reserve analysis systems for property and casualty re/insurers. The update provides enhancements to the systems’ analytical capabilities, together with new additions to the reporting and data management tools. According to Milliman, this release adds new ... Read the full article
Aon sees Willis Re as complementary, divestiture unnecessary: Execs
31st July 2020
Aon's senior leadership, including CEO Greg Case, explained today during a quarterly earnings call that the company isn't expecting to need to divest significantly, as it combines with Willis Towers Watson (WTW) when the acquisition is realised. Case, the Chief Executive Officer of insurance and reinsurance broker powerhouse Aon, said before ... Read the full article
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