Reinsurance News
Beach report predicts above average hurricane season in 2020
15th June 2020
A Beach & Associates report examining several key persistent variables behind forecasts indicates that we're in for an above average 2020 hurricane season. The key variables examined by Beach have been clearly associated with hurricane activity in numerous published scientific studies, and helps create a qualitative overview of the likely conditions ... Read the full article
Insurtech Bold Penguin adds AmTrust to exchange platform
15th June 2020
Commercial insurtech provider Bold Penguin has announced it will integrate workers' compensation insurance coverage from AmTrust Financial on its exchange platform. "As the largest commercial insurance exchange, we're laser-focused on connecting agents and carriers in record time," said Ilya Bodner, Founder and CEO of Bold Penguin. "Our integration with AmTrust will strengthen ... Read the full article
Ed names Robert Coward as Divisional Director, Professional & Executive Risk
15th June 2020
Global, specialty reinsurance brokerage Ed has announced the addition of Robert Coward as Divisional Director in its Professional and Executive Risk team. The appointment of Coward, a qualified corporate lawyer, is effective immediately, and in his new role he reports to Niraj Perera, Head of Transactional Risk. It's expected that his legal ... Read the full article
Now is the time to address the climate change challenge: Jeworrek, Munich Re
15th June 2020
Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance at Munich Re, has said that now is the time to "finally and consistently" address the climate change challenge. In recent months, the global outbreak of COVID-19 has unsurprisingly dominated headlines and, as a result, many have lost sight of the long-term global ... Read the full article
S&P panellists wary of post-COVID-19 headwinds
15th June 2020
A panel of property and casualty (P&C) insurers at the S&P Global Ratings’ Annual Insurance Conference has raised concerns about the lasting medical and economic impact of the COVID-19 pandemic, as well as the potential headwinds that may follow it. During the virtual conference, moderator Kevin Ahern, Managing Director and Analytical ... Read the full article
LMG adds Richard Harries to board
15th June 2020
The London Market Group (LMG) has announced the appointment of Richard Harries to its board. Harries is the Chief Executive Officer at Atrium Underwriters. He brings over 30 years of experience, 23 of which were spent at Atrium. Harries will replace Paul Greensmith, who until recently was UK CEO of AXA XL. “We are ... Read the full article
Aon partners with TCS on climate risk management
15th June 2020
Re/insurance broker Aon is collaborating with The Climate Service (TCS) to help clients understand and manage climate risks. Aon noted that the COVID-19 pandemic has tested the resilience of economies and is providing an example of how systemic changes can impact financial, economic and social stability. To better prepare companies across all ... Read the full article
Amid COVID-19, the opportunities & possibilities are substantial for reinsurers: Pyrrhic Re CEO
12th June 2020
Although likely to be more challenging for the reinsurance sector than any other market event since 1986, the COVID-19 pandemic represents enormous opportunities and possibilities for the industry, according to Peter Mills, Chief Executive Officer (CEO) and Founder of Pyrrhic Re. A pure-reinsurance Managing General Agency (MGA) writing a diverse book ... Read the full article
HDI Global SE reshuffles board
12th June 2020
Primary commercial specialist HDI Global SE has announced a series of key changes to its board. Dr Mukadder Erdönmez has been appointed by the Supervisory Board as the Board Member with responsibility for the Liability Division. Erdönmez will take over responsibility for the Liability Division from Jens Wohlthat who now wishes to ... Read the full article
National General hires SVP of Capital Strategy and Investor Relations
12th June 2020
National General Holdings Corp. has announced the hiring of Clifford Gallant to the position of Senior Vice President of Capital Strategy and Investor Relations. Gallant will be responsible for ensuring the company’s appropriate positioning and engagement with analysts, investors, and other stakeholders. Reporting to Chief Financial Officer Mike Weiner, Gallant will also ... Read the full article
Searchlight Capital Partners completes Global Risk Partners acquisition
12th June 2020
Private equity and opportunity investor Searchlight Capital Partners has completed its acquisition of a majority stake in independent insurance intermediary Global Risk Partners (GRP). First announced in February 2020, the deal will see Mike Bruce take the role of Group Chief Executive at GRP and Andy Homer appointed as Non-Executive ... Read the full article
Outlook positive for reinsurance top-line and pricing: Barclays
12th June 2020
Analysts at Barclays expect reinsurers to enjoy the best overall top-line outlook in the European insurance market, with decent rate momentum and growth in demand also set to benefit the sector. The firm noted that the P&C re/insurance market came into 2020 in a strong position, with an estimated combined capital ... Read the full article
Beazley launches liability policy in US for SME media sector
12th June 2020
Specialist insurer Beazley has launched a new occurrence media liability policy covering the risks faced by small to medium-sized media outlets and publishers in the US. Beazley notes how, as traditional publishing and media groups have moved increasingly online, freelancers who solely publish online, including bloggers, vloggers and social influencers, are ... Read the full article
German re/insurers draft plans for €10bn pandemic fund
12th June 2020
German re/insurers are in the process of drafting plans for a multi-billion euro fund to better prepare the country for dealing with future pandemics, according to reports from Der Spiegel. The fund would function as a public-private system between the government and the re/insurance industry, with existing catastrophe funds used as ... Read the full article
Optio chooses Guidewire Cyence for cyber risk management
12th June 2020
Optio Group has chosen Guidewire's cyber risk management modelling solution Cyence to enhance its data warehouse capabilities and underwriting performance, and Guidewire Cyence for Small Business to support profitable small business growth. Cyence was acquired by Guidewire in 2017 and combines economic modelling, cybersecurity, machine learning and Internet scale data collection ... Read the full article
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