Reinsurance News
Aon adds Harriet Clarke to AMATS unit, launches real estate M&A solution
8th June 2020
Global re/insurance broker Aon's M&A and Transaction Solutions (AMATS) unit has announced the appointment of Harriet Clarke as Director, concurrent to the launch of its Real Estate Solution for M&A transactions (ARES). Clarke is a solicitor who joins Aon from PwC, where she served as head of the corporate real estate ... Read the full article
HDI Global Specialty launches London Political & Credit Risk team, hires two from Neon
8th June 2020
HDI Global Specialty SE has announced the launch of its Political and Credit Risk team in London with the appointments of Nick Robinson and Anthony Vaughan from Neon Underwriting. The pair join HDI Global Specialty's London office, and the new team will work in partnership with the company's existing Political Risk ... Read the full article
Kenya Re expects 5% earnings loss due to pandemic
8th June 2020
State-controlled Kenya Reinsurance Corporation is forecasting a Sh 1 billion (US $9.4 million) decrease in its revenues this year due to the COVID-19 pandemic, according to reports from Capital Business. The loss, which is equivalent to 5% of the company’s total earnings, would mainly be caused by increased claims and rebates ... Read the full article
Munich Re’s ERGO expands in China via Taishan investment
8th June 2020
ERGO, the primary insurance arm of reinsurance giant Munich Re, has expanded its property and casualty (P&C) services in the Chinese market via a strategic investment in Taishan Property & Casualty Insurance Co., Ltd. Once completed, the deal will see ERGO take 24.9% equity interests of Taishan Insurance through its subsidiary, ... Read the full article
WTW amends 2020 short-term incentive compensation program for execs
8th June 2020
Global insurance and reinsurance broker Willis Towers Watson (WTW) has adopted changes to the short-term incentive compensation program (the STI Program) for its executive officers for 2020, designed to promote a more unifying, team mindset in light of COVID-19-related uncertainty. The changes mean that under the 2020 STI Program, all executive ... Read the full article
DIFC premium growth reaches new high in 2019
8th June 2020
The Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and Southeast Asia, has revealed that the sector grew by 17.4% in 2019. Annual growth of more than 17% represents the highest volume of premiums ever written in the marketplace, reinforcing the DIFC's position as a ... Read the full article
AXIS Re promotes Michael Leahey to lead agriculture reinsurance
8th June 2020
AXIS Re, the reinsurance business segment of AXIS Capital, has promoted Michael Leahey to Head of Agriculture Reinsurance, effective July 1. Leahey will be responsible for setting the strategy, optimizing the firm’s portfolio and leading the underwriting of agriculture business. He will continue to be based in Zurich and will report to ... Read the full article
PartnerRe CEO Clarke elected Chair of the Global Reinsurance Forum
8th June 2020
Emmanuel Clarke, the Chief Executive Officer (CEO) of Bermuda-based reinsurer PartnerRe, has been elected as the new Chairman of the Global Reinsurance Forum (GRF) for a two-year term. The GRF is comprised of 12 leading global reinsurance companies and is designed to promote a stable, innovative, and competitive international reinsurance marketplace. PartnerRe ... Read the full article
Portfolio management increasingly important for London Market: Lloyd’s & WTW
8th June 2020
Strong portfolio management is becoming an increasingly important tool in the London Market to deliver underwriting profit, according to a new report by Lloyd’s of London and Willis Towers Watson (WTW). The two organisations conducted a study of senior executives and underwriters in the London Market to better understand the impact ... Read the full article
COVID-19 raising China’s sense of urgency for insurance: WeSure CEO
8th June 2020
Tencent WeSure Chief Executive Officer Alan Lau says COVID-19 has unexpectedly raised the sense of urgency in insurance purchase in China. Lau states that educating the largely under-insured population, building trust among users, and employing technology are the three thrusts to gain an edge in China's vast insurance market. "People often say ... Read the full article
COVID-19 shouldn’t overshadow low-carbon transition: Swiss Re
5th June 2020
The COVID-19 crisis has brought to light new risks and trends, but a new report by Swiss Re Institute argues that the pandemic should not overshadow the need to transition to a more sustainable economy. The reinsurer noted that the recession caused by the containment measures to curb the coronavirus outbreak ... Read the full article
Premium renewal rates see downward turn in May: IVANS
5th June 2020
Month over month, premium renewal rates decreased across all major commercial lines, according to the May results of the IVAN Index, a division of Applied Systems. However, measured year over year, all lines of business saw an increase in average premium renewal rate. This is with the exception of Workers’ Compensation, which ... Read the full article
Sompo Int. names lead of new US Insurance Environmental unit
5th June 2020
Bermuda-based property and casualty insurer and reinsurer, Sompo International Holdings Ltd., has launched a new U.S. Insurance Environmental unit with expanded capabilities. The new division offers new products and services that Sompo says will augment its existing capabilities available through its Sompo Global Risk Solutions arm, for the U.S. Insurance Environmental ... Read the full article
Arch Insurance adds Williams to Syndicate 1955 as Active Underwriter
5th June 2020
Arch Insurance International has today announced the appointment of Simon Williams to the position of Active Underwriter, Syndicate 1955. He will be supported by David Slade who has been confirmed as Deputy Active Underwriter, having held the position when Syndicate 1955 was part of Barbican Insurance Group. In this role, Williams is ... Read the full article
OneAmerica adds Tim Bischof as SVP, chief actuary
5th June 2020
Mutual insurance holding company OneAmerica has added Tim Bischof as senior vice president and chief actuary, effective June 15. A 25-year industry veteran, Bischof will oversee valuation, modeling, reinsurance and actuarial reporting, as well as provide pricing and experience oversight. “Tim brings a significant track record of success and superb life industry ... Read the full article
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