Reinsurance News
Optio appoints Matthew Fosh as Executive Chairman
5th October 2020
Insurance group, Optio Group has announced the appointment of Matthew Fosh as Executive Chairman, subject to regulatory approval. Fosh will be returning to insurance in an executive capacity after stepping down from his executive role at Axis in December 2019. His appointment signals the ambition of Optio’s senior management team and follows ... Read the full article
Industry will never get back to a pre-COVID ‘normal’: IGI’s Waleed Jabsheh
5th October 2020
From an operational point of view, the re/insurance industry is unlikely to ever return to the ‘normal’ it was accustomed to before the COVID-19 pandemic. This is according to Waleed Jabsheh, President of IGI, who discussed the challenges of the coronavirus crisis in a recent interview with Reinsurance News. “This experience has ... Read the full article
CLARA analytics adds Andrew Pinkes, Dave Hollander to board
5th October 2020
CLARA analytics, a provider of artificial intelligence technology in the commercial insurance industry, has appointed Andrew Pinkes and Dave Hollander to its board of directors. The company says the additions are in response to accelerated demand for its products over the past year. Pinkes brings over 29 years of experience in the ... Read the full article
Negative outlook for UK life insurance: Moody’s
5th October 2020
Moody's Investors Service has placed a negative outlook on the UK life insurance sector amid concerns that a further decline in gilt yields could increase pressure on solvency levels. A new report by Moody's also noted how the shrinking UK economy is impacting sales of discretionary life insurance product, resulting in ... Read the full article
McLarens acquires New Zealand claims services firm CNZ Group
5th October 2020
Global insurance services provider McLarens has announced the acquisition of CNZ Group Holdings Limited and its subsidiaries, a loss adjusting, claims and repair management business based in New Zealand. Headquartered in Auckland, CNZ Group was previously an employee-owned and operated affiliate of Crawford & Company. CNZ Group has 26 offices across New ... Read the full article
Africa Re joins DIFC in Middle East expansion
5th October 2020
Africa Reinsurance Group has selected the Dubai International Financial Centre (DIFC) for its first office outside Africa. DIFC is a financial centre in the Middle East, Africa and South Asia (MEASA) region and says Africa Re will operate as Africa Re Underwriting Agency Limited. Africa Re's focus is on the underwriting of proportional and ... Read the full article
Korean Re adds three to Swiss division
5th October 2020
Korean Re Switzerland, the Zurich-based subsidiary of Asian reinsurer Korean Re, has announced the appointments of three new members who started last month. Alessio Davoli has been appointed as Underwriter for the Southern Europe division. He previously worked for GenRe and was based in Milan as a P&C Treaty Writer for ... Read the full article
SCOR Global P&C reveals organisational changes and promotions
5th October 2020
SCOR Global P&C has announced a number of changes and promotions as it looks to deepen its client relationships and become more agile to faster adapt to the evolutions of markets. In a message to clients last week, SCOR Global P&C Chief Executive Officer (CEO), Jean-Paul Conoscente, announced a number of ... Read the full article
Hampden Agencies Limited makes key board changes
5th October 2020
Lloyd’s Members’ agency Hampden Agencies Limited has announced a series of changes to its board, including Sarah Wilton as chair, and Elizabeth Fullerton-Rome as independent non-executive director and chair of the audit and risk committee. Effective immediately, the appointments coincide with HAL’s undertaking of a significant increase in demand for capital ... Read the full article
Moody’s warns of ratings downgrades for life re/insurers
5th October 2020
Moody’s has warned that US life re/insurers face the potential for rating downgrades due to pandemic-related exposures in their fixed income investment portfolios. The rating agency noted that many insurers have significant exposures in consumer sensitive sectors that have been heavily affected by coronavirus related shutdowns and laggard demand. Airlines, restaurants, lodging, ... Read the full article
Kennedys announces expansion with new Tel Aviv office
5th October 2020
Global law firm Kennedys has opened a new office in Tel Aviv that all partners and staff of its former associate firm Zelichov, Ben-Dan & Co have joined. Zelichov, Ben-Dan & Co is one of Israel’s leading insurance focused practices and has had an association with Kennedys since November 2018. New Kennedys ... Read the full article
FINACTU to support the Tunisia Ministry of Finance
5th October 2020
French insurer, FINACTU has announced that it has been chosen by the World Bank to support the Tunisia Ministry of Finance in a new stage in the modernisation of the insurance sector. The work will be carried out in collaboration with the Tunisian Ministry of Finance for the development of catastrophic ... Read the full article
Re/insurers must “truly embrace innovation” to succeed: James Harrison, Dun & Bradstreet
2nd October 2020
As the insurance and reinsurance industry continues to evolve at a rapid pace, companies need to be more proactive with investments in digital and advanced analytics, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet. Following the announcement of his new role ... Read the full article
AXIS Insurance adds to US Management Liability team
2nd October 2020
AXIS Insurance, the specialty insurance business segment of AXIS Capital Holdings Limited, has announced the appointment of four underwriters to its US Management Liability team. Christina Segreti, Drew Kushnick, Matthew Holzinger and Sherry Alexakis have joined AXIS as Senior Underwriters to help support the company’s profitable growth in the management liability ... Read the full article
CRC Group wraps up acquisition of surplus lines broker Specialty Risk
2nd October 2020
Specialty insurer CRC Group has completed the acquisition of MGA and surplus lines broker Specialty Risk Associates. The addition of Specialty Risk sees CRC Group continue its expansion into binding, transportation binding, and personal lines. The company has added more than 80 new producers and several new offices focused on those products ... Read the full article
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