Reinsurance News
Arch Re completes majority stake acquisition in PMAP
2nd July 2020
Arch Worldwide Reinsurance Group (Arch Re), the reinsurance arm of Arch Capital Group, has completed its previously announced acquisition of a majority stake in Precision Marketing Asia Pacific (PMAP). PMAP is an Australian company that provides marketing solutions to banks, insurance companies, retailers and health care organisations across the Asia ... Read the full article
Lemonade secures $319m in IPO off $29 a share
2nd July 2020
Insurtech start-up Lemonade has raised $319 million at its Initial Public Offering (IPO) after high-demand saw its price increase to $29 a share. Lemonade commenced its IPO last week with an expectation that it would offer 11 million shares of its common stock at a price of between $23 and $26 per ... Read the full article
Swiss Re welcomes Arthur Levry as Head of West Africa
2nd July 2020
Global reinsurance giant Swiss Re has announced the appointment of Arthur Levry as its new Head of West Africa, effective July 1st, 2020. In his new role, Levry will be tasked with managing the advancement and development of property and casualty (P&C) and Life and Health (L&H) products and solutions across ... Read the full article
COVID-19 losses “entirely manageable” for Lloyd’s: report
2nd July 2020
A new report by Syndicate Research Limited (SRL) has claimed that COVID-19 losses will be “entirely manageable” for re/insurance marketplace Lloyd’s of London in light of the investment market’s recovery. The Lloyd’s Market has estimated pre-tax underwriting losses from COVID-19 of £2.5 billion to £3.5 billion, equivalent to 9.7% to 13.6% ... Read the full article
AXA XL gets approval for first foreign-owned reinsurance subsidiary in China
2nd July 2020
AXA XL, the property & casualty and specialty risk division of AXA, has revealed that its China subsidiary, XL Insurance (China) Company Limited has received the go-ahead from the country's regulator to change its business license from an insurance license to reinsurance. The green light from the China Banking and Insurance ... Read the full article
BBH Capital acquires Sunstar Insurance Group
2nd July 2020
BBH Capital Partners (BBHCP) has acquired a majority stake in regional US insurance broker Sunstar Insurance Group. While terms of the transaction were not disclosed, it has been confirmed that Sunstar management and key employees will remain significant shareholders alongside BBHCP. The transaction with BBHCP provides Sunstar with additional capital to maintain ... Read the full article
Capsicum Re helps Arch secure additional mortgage reinsurance
2nd July 2020
Arch Mortgage Insurance Company (Arch MI), a wholly owned subsidiary of Arch Capital Group Ltd., has secured $528 million of indemnity reinsurance via a mortgage insurance-linked note (ILN) transaction and direct reinsurance. The $528 million of mortgage reinsurance covers a pool representing around $44 billion of mortgages for Arch MI, and ... Read the full article
TigerRisk hires Francis Paszylk to lead London casualty
2nd July 2020
Insurance and reinsurance brokerage TigerRisk Partners has announced the appointment of Francis Paszylk as partner and head of its London casualty practice. Paszylk has 30 years’ experience in the casualty treaty and retro markets handling a range of long-tailed products for the US and international markets. He joins TigerRisk from Aon, and ... Read the full article
Marsh JLT Specialty names Chairman of UK construction practice
2nd July 2020
Global insurance and reinsurance broker Marsh has announced the appointment of Mike Johnson as Chairman of the UK Construction, Infrastructure & Surety Practice at Marsh JLT Specialty. In this role, Johnson will oversee the UK Construction, Infrastructure & Surety Practice, which advises many of the UK’s leading infrastructure, power and energy, ... Read the full article
MGAA members eager to return to face-to-face operations: survey
2nd July 2020
A recent survey of MGAA members, conducted by insurance communications agency Full Circle, reveals that despite heightened use of social media and video conferencing services during the current crisis, the large majority of respondents expect a return to face-to-face client and broker meetings. In fact, just 15% of survey respondents said ... Read the full article
COVID-19 shows critical role of re/insurance: AXA CEO Buberl
1st July 2020
The COVID-19 crisis has highlighted the “critical role” that re/insurance has in protecting societies and driving economic growth, according to Thomas Buberl, Chief Executive Officer (CEO) of AXA. Speaking alongside the company’s Annual Shareholders’ Meeting in Paris, Buberl said that pandemic would motivate AXA to transform its business practices and focus ... Read the full article
Beazley wraps up Guidewire London Market ECF Integration
1st July 2020
Specialist insurer Beazley has successfully finalised its claims transformation program, powered by Guidewire ClaimCenter. ClaimCenter is now fully integrated with the London Market Electronic Claims File Write-Back (ECF). Beazley has worked closely with Guidewire to add ECF Write-Back to Guidewire’s London Market claims functionality. This functionality affords Lloyd’s Syndicates and the London company ... Read the full article
Thomas Miller KK adds Fumihiko Shimizu as President
1st July 2020
Thomas Miller, a provider of insurance, professional and investment services and manager of the UK P&I Club, has appointed Fumihiko Shimizu as the new President of Thomas Miller KK in Japan. As President, Shimizu will concentrate on the operations of TMKK by building on and promoting the correspondency and service management ... Read the full article
Sompo GRS launches new European team
1st July 2020
Sompo Global Risk Solutions (GRS), a specialty property and casualty re/insurer and part of Sompo International, has formed a new London-based team designed to serve the European market through retail brokers. Sompo GRS Europe builds on Sompo International’s existing London Market and SIIE European platform business. The move is also intended to ... Read the full article
Oliver Denbigh joins TigerRisk’s London Retro practice
1st July 2020
TigerRisk Partners LLC, the global risk, capital and reinsurance brokerage and advisory, has announced the appointment of Oliver Denbigh as partner to its London Retro unit, reporting to Alex Bridges, Global Head of Retro. Denbigh joins TigerRisk from global insurance and reinsurance broker Aon, where he served as a Senior Broker ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
