Reinsurance News
Hurricane Delta sweeps across Mexico’s coast, takes aim at US
8th October 2020
Hurricane Delta is tracking towards the US Gulf Coast after making its first landfall on Mexico’s Yucatan Peninsula as a Category 2 storm. Delta buffeted the northern coast of Quintana Roo, Yucatan with wind speeds of 175km/h (110mph), having weakened slightly from its earlier Category 4 strengths. The storm is expected to ... Read the full article
Aon adds Sue Lee to capital advisory team as director in corporate finance
8th October 2020
Re/insurance broker Aon has added Sue Lee to its reinsurance solutions capital advisory team as a director in corporate finance. Lee joins Aon from Athene Holding, where she served as investor relations director. Her previous roles included equity research vice president at Barclays, and investment banking associate at BMO Capital Markets. Lee now ... Read the full article
Commercial property rates up 7% in Q3: MarketScout
8th October 2020
Commercial property rates increased by 7% during the third quarter of 2020, according to data from MarketScout, the US electronic insurance exchange and specialty MGA. The firm found that re/insurance rates increased by 6.25% on average in Q3, with rate increases on every line of coverage and industry class. The largest rate ... Read the full article
Chubb names Head of Claims for Overseas General Insurance
8th October 2020
Global re/insurer Chubb has announced the appointment of Nandini Mani as Executive Vice President, Claims for Overseas General Insurance, the company's international general insurance business. Mani joined Chubb in 2015 and was previously Deputy General Counsel and Head of Global Litigation. Prior to this, she served as Managing Counsel at BNY Mellon ... Read the full article
Munich Re Automation Solutions to invest €16mn in R&D program
8th October 2020
Dublin-based Munich Re Automation Solutions, a subsidiary of the global reinsurer, is set to invest roughly €16 million in a research & development program and transform it into a platform company The investment in Horizons, also based in Dublin, is supported by the Irish Government through IDA Ireland and will enable the ... Read the full article
Sompo Intl. launches D&O policy for public companies
8th October 2020
Bermuda-based specialty property and casualty re/insurer Sompo International has launched a new Directors and Officers (D&O) liability insurance policy for publicly traded companies. Sompo’s public D&O solution is the latest addition to its existing Management Assurance Platform (MAP). Introduced in 2019, MAP is designed to provide private companies with the ability to ... Read the full article
Lloyd’s targets $15bn of new business, 13% growth in 2021: Neal
7th October 2020
The specialist Lloyd's of London insurance and reinsurance marketplace expects to approve business plans that will enable the market to write roughly $15 billion of new business in 2021, according to Chief Executive Officer (CEO), John Neal. In the latest of Aon's series of fireside chats with industry experts and leaders, ... Read the full article
Markel to consolidate property cat reinsurance business under Nephila
7th October 2020
Financial holding company Markel is set to consolidate its property catastrophe reinsurance business under the Nephila brand. The consolidation will see Markel refocus its global reinsurance unit towards underwriting and growing its casualty and specialty lines. While some of the unit's employees may have the opportunity to join the Nephila team, Markel ... Read the full article
London company market premium up 10% in 2019: IUA
7th October 2020
New data from the International Underwriting Association (IUA) shows that premium income for the London company market grew by 10% last year with £21.436 billion of large commercial and wholesale risks underwritten by firms in the City. The IUA also found that a further $6.197 billion was written in other offices ... Read the full article
BDO USA takes over property claims team at Quantum Global Advisors
7th October 2020
US accounting and advisory firm BDO USA has strengthened its property claims services with the addition of 28 professionals from Quantum Global Advisors, an international insurance claim and valuation consulting practice headquartered in Chicago. The combination with Quantum, which is set for completion on October 16th, is expected to significantly boost ... Read the full article
Phil Lucas takes Digital Applications Manager role at AEGIS London
7th October 2020
Lloyd’s managing agency AEGIS London has promoted Phil Lucas to the newly created role of Digital Applications Manager. Lucas was formerly Business Application Manager, having originally joined AEGIS London in 2010. He has over 20 years’ experience in application and IT support and manages the infrastructure of AEGIS London’s Opal online quote-and-bind ... Read the full article
PCS launches new data set for cyber risk
7th October 2020
Property Claim Services (PCS), a Verisk Analytics business, has announced the launch of a new data set to help cyber insurers and reinsurers optimise their capital and manage risk more effectively. The first non-loss reporting offering from PCS, this platform will provide insight into the largest affirmative cyber risks in the ... Read the full article
Stonybrook Capital adds Paul Kneuer as a Managing Director
7th October 2020
Investment banking and reinsurance broking firm Stonybrook Capital has announced the appointment of Paul Kneuer as a Managing Director. Kneuer brings 40 years' experience to the firm and most recently served as Chief Underwriting Officer of Everest Re's structured reinsurance program in London. Before that he spent time as head of reinsurance ... Read the full article
Markel adopts Quest Marine platform from Concirrus
7th October 2020
Specialist insurer, Markel International has adopted the Quest Marine Hull platform from insurtech firm Concirrus, which uses behavioural insight to assess and monitor marine risk as an underwriting tool. Markel says the platform will complement its strategy to examine digital data, ensuring underwriters have a real-time view of the global market. With ... Read the full article
Rideshare insurtech Buckle makes two senior appointments
7th October 2020
Rideshare insurance company Buckle has announced two new additions to its senior leadership team. Andrew Rear has been appointed Chairman of Buckle’s Board. He will continue working as Chief Executive Officer (CEO) of Digital Partners, a Munich Re company. Rear joined Munich Re in 2010, leading the Asia, Africa, and UK life ... Read the full article
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