Reinsurance News
US P/C challenged despite segment’s overall improvement: AM Best
15th June 2020
Although the US property/casualty industry’s bottom-line underwriting performance improved noticeably in 2019, several individual lines of business are struggling to generate better results in the face of natural catastrophes and wildfires. A report from AM Best shows that some P/C lines of business such as homeowners multiperil and commercial multiperil, as well ... Read the full article
Berkshire (BHSI) names Senior Care Leader, Healthcare Professional Liability
15th June 2020
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global re/insurance business, has appointed Austin Elkin as Senior Care Leader, Healthcare Professional Liability in the US. Based in Atlanta, Elkin joined BHSI in 2013 as Underwriter, Healthcare Professional Liability. Prior to this, he served as a large account Underwriter ... Read the full article
Artex to launch alternative risk program for the transportation industry
15th June 2020
Artex Risk Solutions, the Arthur J. Gallagher & Co-owned provider of re/insurance and alternative risk management solutions, is launching a new alternative risk program designed for the transportation industry. TOPIC (Transportation Owners Protection Insurance Cell) is a rent-a-captive solution offering many of the advantages of captive ownership with the simplicity of ... Read the full article
Eric Seyfried joins AXIS Insurance as Head of US Cyber Open Market
15th June 2020
AXIS Insurance, the specialty insurance arm of Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited, has appointed Eric Seyfried as Head of Cyber U.S. Open Market, effective immediately. In his new role, Seyfried will be tasked with assisting in the design and implementation of the U.S. strategy and direction for the ... Read the full article
Aon forms coalition to aid COVID-19 economic recovery
15th June 2020
Re/insurance broker Aon has formed a coalition of companies and organisations that will focus on aiding social and economic recovery in the wake of the COVID-19 pandemic. Starting in Chicago, the coalition will create a model and framework to inform criteria and guidelines that will help restart the economy worldwide, with ... Read the full article
Reduced Florida exposure the “most prudent course” despite higher rates: Hiscox
15th June 2020
Despite reports of some meaningful rate increases across the property catastrophe reinsurance sector at the mid-year renewals, Hiscox's Ross Nottingham has warned that improvements could be offset by the rise in the cost of risk in Florida. After consecutive heavy loss years, some fairly significant loss creep and low interest rates, ... Read the full article
Marsh JLT Specialty adds two to expanding Renewable Energy team
15th June 2020
Global insurance and reinsurance broker Marsh has announced the addition of Joanne Silberberg and Dan Gumsley within Marsh JLT Specialty's expanding Renewable Energy team. Silberberg joins the team as Canadian Renewable Energy Leader. She first joined Marsh in 2004 as part of the graduate programme and has subsequently held numerous roles ... Read the full article
KBW still positive on industry capital raises
15th June 2020
Analysts at KBW have concluded that it remains too early to be concerned about recent capital raises across the re/insurance industry, despite some commentators' unease about how long hard market conditions can last. RenRe and Lancashire are among the latest re/insurers to undertake major capital raises in a bid ... Read the full article
Munich Re’s Roanoke partners with travel insurtech battleface
15th June 2020
Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with the travel insurtech startup battleface to launch product sales in the US. battleface offers travel insurance products and assistance to travelers using an API-driven platform. The arrangement with Roanoke is expected to enable the insurtech to offer ... Read the full article
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
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