Reinsurance News
Guy Carpenter launches new Vietnam flood model
10th November 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has announced the launch of its new flood model for Vietnam. The probabilistic model will provide full national coverage and help re/insurers to assess their exposure to floods – a peril that affects 70% of the population in Vietnam. The Guy Carpenter Vietnam ... Read the full article
Life & health risks from pandemics are insurable: The Geneva Association
10th November 2020
New research by The Geneva Association finds that life and health risks for pandemics similar to COVID-19 are insurable, but warns that property and casualty (P&C) risks remain too large for the private market. There has been a wide-spread public discussion on how to address the deep financial implications of COVID-19, ... Read the full article
AXIS Insurance adds Bobbie Condell to lead underwriting role
10th November 2020
Specialty insurer AXIS has added Bobbie Condell as Underwriting Lead for Small Specialty Commercial, effective immediately. Condell will initially focus on underwriting analysis and portfolio management as part of the development of the recently launched AXIS Home Based Business product. She brings more than 23 years of underwriting and portfolio management experience across ... Read the full article
UK risk settlement market still thriving despite a lack of jumbo deals: Aon
10th November 2020
The UK risk settlement marketplace has seen fewer jumbo deals this year than in 2019, but re/insurance broker Aon still expects it to reach more than £50 billion by the end of 2020 as activity increases among mid-sized and smaller schemes. Earlier in the month, Aon said that the risk ... Read the full article
SCOR Global P&C adds AXA’s Moufakkir as Chief Business Transformation Officer
10th November 2020
French insurer and reinsurer, SCOR, has announced the appointment of Myriam Moufakkir as the new Chief Business Transformation Officer of SCOR Global P&C. In this newly created role, Moufakkir assumes responsibility for driving key operational aspects of the firm's P&C operation, with a focus on digital & data strategies, business process ... Read the full article
Brown & Brown acquires InsurTech CoverHound
10th November 2020
A subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of InsurTech firm CoverHound, a digital insurance marketplace for both individuals and small businesses. The deal has been announced by J. Scott Penny, Brown & Brown's Chief Acquisitions Officer and Keith Moore, Chief Executive Officer (CEO) of ... Read the full article
Global Indemnity posts $15.2mn Q3 net loss
10th November 2020
Property and casualty insurer Global Indemnity has reported a net loss of $15.2 million for the third quarter, against an income of $6.7 million in the same period last year. Global Indemnity recorded a combined ratio of 107.2% (Loss Ratio 69.2% and Expense Ratio 38.0%) as against its 95.2% (Loss Ratio 55.2% ... Read the full article
Charles Taylors sets up new P&C team in Malaysia
10th November 2020
Technology solutions provider Charles Taylor has expanded its Adjusting business in Malaysia with the creation of a new property and casualty (P&C) team, based in Kuala Lumpur. The team will be led by Bala Subramaniam, who has more than 24 years of experience in the adjusting industry and experience managing a ... Read the full article
Lloyds Bank & Previsico partner on flood resilience
10th November 2020
Live flood forecasting insurtech firm Previsico has announced that it will join the Launch Innovation Lab, powered by Lloyds Banking Group, to develop solutions for flood resilience. Together, Previsico and Lloyds will work to develop a solution for Lloyds home insurance customers, against a backdrop of increasingly severe and frequent flood ... Read the full article
COVID losses “by no means over,” warn experts
9th November 2020
Executive panellists at the S&P Global Reinsurance Conference have warned that re/insurance industry losses due to COVID-19 are “by no means over.” Charles Mathias, Group Executive Director and Group Chief Risk Officer at Fidelis Insurance Holdings, suggested that many companies may have reserved on the basis that the pandemic would be ... Read the full article
Hamilton announces three leadership promotions at its Lloyd’s operations
9th November 2020
Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd., has today announced three promotions within the leadership team at its Lloyd's of London operations, subject to regulatory approval. The promotions include the appointment of Adrian Daws, currently Active Underwriter of Lloyd's Syndicate 4000, as Chief Executive Officer (CEO) of Hamilton Managing Agency ... Read the full article
CoreLogic updates on sales process, slams “misinformation campaign”
9th November 2020
Property information and analytics provider CoreLogic has provided an update on its acquisition talks after renewed pressure from investors to engage in an auction process as soon as possible. CoreLogic confirmed that it was conducting a strategic review of its options after receiving multiple takeover proposals valuing the firm in ... Read the full article
Re/insurance broker Miller to be acquired by Cinven and GIC
9th November 2020
Specialist insurance and reinsurance broker, Miller, is set to be acquired from its partners and corporate member, Willis Towers Watson (WTW), by global private equity firm, Cinven and GIC, Singapore's sovereign wealth fund. Miller, which employs over 640 people through its offices across the world's major insurance hubs, is a specialist ... Read the full article
Apollo expands into contingency & legal indemnity markets with two hires
9th November 2020
Specialist re/insurer and Lloyd's syndicate, Apollo Syndicate Management, has announced the appointments of Amanda Lewis as Head of Specialty Disruption Insurance and Sophie Dunkerley as Specialty Disruption Insurance Underwriter at Syndicate 1969. The pair will lead the re/insurer's expansion into contingency, agri-contingency and legal indemnity markets. Lewis joins Apollo from White Oak ... Read the full article
Climate change is increasing wildfire risk in California: RenRe
9th November 2020
Reinsurer RenRe recently hosted a Q3 2020 earnings call in which President and CEO Kevin O'Donnell spoke about climate change and the Californian wildfires. In 2020, the Californian wildfires consumed more than 4 million acres, which is more than double that was recorded in 2017 or 2018. This has resulted in over ... Read the full article
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