Reinsurance News
Zurich to acquire HealthLogix & HealthInsite
13th October 2020
Zurich Insurance Group has announced that it is set to acquire digital health and wellbeing service providers, HealthLogix in Australia and HealthInsite in South Africa, to further expand its Zurich LiveWell health and wellbeing operation. The companies, jointly known as HLX, will be acquired from the founders. They offer customers a ... Read the full article
Inflation bad for non-life, good for life: Berenberg
12th October 2020
Analysts at Berenberg have examined the recent data on inflation and its potential impact on profit margins in life and non-life insurance. While the COVID-19 crisis is associated with weak and falling GDP, and with deflation rather than inflation, analysts note how correlation works in reverse too: deflation is a risk for ... Read the full article
Elisabetta Ibba appointed CEO of Lloyd’s broker AEC
12th October 2020
Coverys European Holdings (CEH), a division of Coverys, has added Elisabetta Ibba as Chief Executive Officer of its Lloyd's broker subsidiary AEC Group. Ibba brings over two decades' experience to the role and has been with AEC since 2004, when she was appointed to manage its Lloyd's business. She takes up her ... Read the full article
kWh structures further Solar Revenue Put with Swiss Re backing
12th October 2020
Solar risk manager kWh Analytics has structured yet another Solar Revenue Put with capacity support from Swiss Re Corporate Solutions, the commercial insurance division of reinsurer Swiss Re. The latest Solar Revenue Put was structured for a portfolio of 4,000 projects totalling approximately 33 MW DC of capacity located in the ... Read the full article
Fleming Re acquires Bermuda captive Sinclair
12th October 2020
Run-off reinsurance provider Fleming Re has agreed to acquire Sinclair Insurance Company, a Bermuda domiciled captive insurance company. Sinclair was utilized to provide reinsurance to the primary insurers of certain casualty risks of affiliated companies. The acquisition provides the shareholders of Sinclair with an exit solution allowing legal finality, elimination of operating ... Read the full article
Lloyd’s report calls for simpler insurance products
12th October 2020
In the wake of the COVID-19 pandemic, a new report from insurance and reinsurance marketplace Lloyd’s of London has called on insurers to build simpler products to protect customers. The report sets out a number of ways in which the global re/insurance industry could remove complexity and provide better coverage clarity ... Read the full article
B.P. Marsh increases holding in EC3 Brokers to 35%
12th October 2020
Venture capital provider B.P. Marsh & Partners Plc has increased its stake in EC3 Brokers by around 15% to a holding of 35%, as the broker eyes accelerated strategic growth. In December 2018, B.P. Marsh announced an investment in the independent commercial lines Lloyd's brokerage, which saw the specialist investor ... Read the full article
Aspen Re America names AXIS Re’s Jim Brown as Head of Casualty
12th October 2020
Bermuda-based reinsurer Aspen Re, the reinsurance arm of Aspen Insurance Holdings Limited, has announced the appointment of Jim Brown as Head of Casualty, Aspen Re America. Effective October 12th, 2020, Brown will be based in the company's New York and Rocky Hill, CT, offices. In his new role, he takes on ... Read the full article
Charles Taylor adds Asia Practice Lead for BI & Financial Lines
12th October 2020
Provider of services and technology solutions to the insurance space, Charles Taylor, has announced the appointment of Matthew John Lim as Asia Practice Lead for Business Interruption and Financial Lines, to its Adjusting business based in Singapore. Lim will be bringing more than 10 years of experience in business interruption risk, ... Read the full article
Ian Patrick named CFO of Compre as Simon Hawkins returns to COO role
12th October 2020
Specialist legacy acquirer, Compre has revealed a number of management changes as the company targets future growth, including the appointment of Ian Patrick as Group Chief Financial Officer (CFO), effective immediately. Patrick takes over as Group CFO from Simon Hawkins, who has held the position since December 2018. He brings a ... Read the full article
Aon, Goldman Sachs launch investment service for captive insurers
12th October 2020
Re/insurance broker Aon has partnered with Goldman Sachs on a service designed to provide captive insurers with an easy way to identify and access high-quality investments. The new service will see Aon offer individual strategic advice, fund research and execution services through its global team of investment specialists and practitioners. Goldman Sachs ... Read the full article
ArgoGlobal announces RITC transaction with RiverStone
12th October 2020
ArgoGlobal, a Lloyd’s insurer and member of speciality reinsurer Argo Group, has entered into a reinsurance-to-close (RITC) transaction with legacy specialist RiverStone. The deal will see RiverStone undertake an RITC of ArgoGlobal’s Syndicate 1200 for 2017 and prior years with net technical provisions of £356 million. The transaction is expected to receive ... Read the full article
Hurricane Delta losses expected to fall within cat reinsurance limits
12th October 2020
Hurricane Delta came ashore in the region of Creole, Louisiana as a Category 2 storm at 18:00 local time on Friday October 9th, making it the 10th named storm to make US landfall so far in 2020. Following its impact on Mexico's Yucatan Peninsula early last week, hurricane Delta tracked into ... Read the full article
Swiss Re & Daimler launch automotive and mobility insurance MGA, Movinx
12th October 2020
Global reinsurance giant Swiss Re has entered into a strategic partnership with Daimler Insurance Services to launch a new company called Movinx, an insurance intermediary and service provider designed to transform and innovate automotive and mobility insurance. Both Swiss Re and Daimler are 50/50 shareholders of the new joint venture, which ... Read the full article
No significant capital rush amid investor trepidation: Willis Re execs
12th October 2020
While it's likely that more fresh capital will look to enter the re/insurance market in light of improving market conditions, investor trepidation remains amid continued financial market uncertainty and volatility, according to executives at Willis Re, the reinsurance broking of Willis Towers Watson (WTW). "We simply don't see capital rushing in," ... Read the full article
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