Reinsurance News
Investment income saves Watford from Q3 loss
30th October 2020
Bermuda domiciled re/insurance company Watford Holdings has posted a net income of $78.1 million for the third quarter of Q3, as strong investment returns offset an underwriting loss. Watford’s net investment income for Q3 2020 was $92.8 million, a significant improvement on the $14.0 million that it posted for the same ... Read the full article
Prudential completes pension transaction with Aviva
30th October 2020
Prudential Retirement, a business unit of Prudential Financial (PFI), is expanding its global longevity reinsurance business with a new offering driven by a huge growth in the UK pension market. PFI's first transaction in the emerging funded reinsurance market closed in June with UK insurer, Aviva. The UK market for pension bulk ... Read the full article
AHT Insurance announces Specialty Captives Programs
30th October 2020
AHT Insurance, a brokerage and consulting firm offering property and casualty, employee benefits, retirement, personal and international services, has enhanced its service offering with the addition of Specialty Captive Programs. A specialty captive is a private insurance solution designed to provide customisable coverage options for unique or difficult exposures business owners ... Read the full article
BCC advocating for public & private business continuity insurance program
30th October 2020
Closures and shutdowns caused by COVID-19 have significantly impacted the employees and operations of businesses across the US. The Business Continuity Coalition (BCC) currently represents the restaurant, entertainment, hospitality, gaming, retail, communications, broadcasting and real estate industries by encouraging policymakers to take urgent steps to prepare for future risks. The BCC is ... Read the full article
Munich Re’s HSB appoints Jeffrey O’Shaughnessy to lead treaty division
30th October 2020
Munich Re's Hartford Steam Boiler has appointed Jeffrey O’Shaughnessy to lead its treaty division. He succeeds Tony Trivella, who is set to retire after 40 years of service with the company. O’Shaughnessy reports to Greg Barats, president and Chief Executive Officer of HSB, part of Munich Re. HSB says Trivella will work closely ... Read the full article
The Hartford’s Q3 net income falls 14% to $453mn
30th October 2020
Property and casualty insurer The Hartford has reported a net income of $453 million for the third quarter, down 14% from the prior year period. Core earnings for the quarter declined 4% to $527 million. Incurred losses from COVID-19 were $72 million, before tax, comprised of Property and Casualty losses of $37 million ... Read the full article
Aon reports organic reinsurance revenue growth of 13%
30th October 2020
Re/insurance broker Aon has reported organic revenue growth of 9% in its Reinsurance Solutions division during the third quarter of 2020. The Reinsurance Division posted revenue of $321 million in Q3 2020, compared with $291 million for the same period last year. This marks the fourth consecutive quarter of elevated growth for ... Read the full article
Arch’s reinsurance business recovers in Q3 despite high cat losses
30th October 2020
Bermuda-based re/insurer Arch Capital Group has announced a mild improvement in net income over the third quarter of 2020, helped by a recovery in its reinsurance business. Net income totaled $408.6 million in Q3, up from $382.1 million in for the same period in 2019. The result was helped by $5.5 million ... Read the full article
Aston Lark acquires Dunsby Associates
30th October 2020
Chartered insurance broker Aston Lark has announced the acquisition of commercial broker, Dunsby Associates. With a Gross Written Premium of £6m, Dunsby Associates acts for large commercial clients and has a long-standing and experienced team of 12 providing insurance, as well as negotiating bespoke deals and providing risk management advice. Peter Blanc, ... Read the full article
SCOR partnership targets personalised cancer treatment
30th October 2020
Global reinsurer SCOR is collaborating with cancer-focused medical specialist Wamberg Genomic Advisors on personalized cancer programs for life insurance clients and policyholders. Cancer Guardian was developed by WGA to provide specialised services not typically made available or covered by health insurance. The product gives its members access to features and benefits such ... Read the full article
Everest Re reports $243mn Q3 net income, operating profit falls $41mn
30th October 2020
Bermuda-based re/insurer Everest Re has reported a $243.1 million net income for the third quarter, up from $104.4 million in the prior year quarter. After-tax operating income for the quarter was $97 million, down from $138.4 million in 2019. Pre-tax catastrophe losses totalled $300 million, an amount that is net of reinsurance and ... Read the full article
Selective posts improved net income, combined ratio in Q3
30th October 2020
Selective Insurance saw its net income reach $69.9 million over the third quarter, up from the $56.2 million achieved in the prior year period. Year-to-date income lags behind 2019 by 37%, however. The company has also seen its combined ratio improve 1.4 percentage points after a catastrophe-heavy Q2 2020 dragged it down ... Read the full article
Berkshire Hathaway appoints SVP for Customer & Broker Engagement
30th October 2020
Berkshire Hathaway Specialty Insurance (BHSI) has announced of appointment of Renee Yozzi as Senior Vice President of Customer & Broker Engagement for the Eastern U.S. Region. Yozzi brings nearly 20 years and an excellent duality of experience to BHSI. She most recently held the title of Director, Strategic and Enterprise Risk ... Read the full article
COVID drags Swiss Re to a $691mn 9M loss
30th October 2020
Global reinsurer Swiss Re has reported a $691 million net loss for the first nine months of 2020, compared to a $1.3 billion profit registered over same period in 2019. Much of Swiss Re's performance so far in 2020 has been heavily impacted by the COVID-19 pandemic. Property & Casualty Reinsurance fell ... Read the full article
McGill and Partners makes Nicky Payne partner
30th October 2020
Insurance broker McGill and Partners has announced that Nicky Payne has been made partner. Payne, who joined on the 1st October has more than 30 years of experience in Reinsurance as both a broker and underwriter. Most recently, she was CUO and Active Underwriter of Arcus Syndicate 1856, backed by funds managed ... Read the full article
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