Reinsurance News
Kin partners with Snapsheet on end-to-end claims management
4th September 2020
Digital claims management company, Snapsheet, has announced a new partnership with InsurTech firm, Kin Insurance. After a successful $35 million Series B funding round, Kin agreed to partner with Snapsheet to enable an automated digital experience, omnichannel engagement, and end-to-end claims management from electronic first notice of loss (FNOL) through settlement. Using ... Read the full article
ACORD study shows that less than a third of insurers are truly digitised
4th September 2020
Standards-setting body, ACORD has released its 2020 Insurance Digital Maturity Study of the world’s top 130 insurance carriers, revealing that less than 30% have “truly digitised the value chain”. Throughout 2020, insurers have realised the importance of having to evolve and modernise their systems. This is due to the rapidly evolving ... Read the full article
2020 a critical year for reinsurers: AM Best
3rd September 2020
AM Best analysts have described why, in terms of both challenges and opportunities, 2020 is a critical year for reinsurers. Current hardening pricing conditions are said to be creating a window of opportunity for reinsurers, with property catastrophe, specialty lines, and some US casualty lines showing much-needed improvement in pricing and ... Read the full article
Ed appoints Michael Lock to senior role
3rd September 2020
Re/insurance broker, Ed has announced the appointment of Michael Lock as the divisional director of its risk team. His position will take place effective immediately. Lock is a chartered accountant and has over 10 years of transactions experience. He has spent the past five years investing either directly for private equity ... Read the full article
CoreLogic adds Pat Dodd as Chief Operating & Growth Officer
3rd September 2020
Catastrophe risk modeller CoreLogic has announced the appointment of Pat Dodd to the newly-created position of Chief Operating and Growth Officer. Dodd will oversee the firm's enterprise sales, marketing and customer experience operations and will also lead the development and implementation of CoreLogic’s commercial and go-to-market strategies. Dodd brings over 30 years' experience and ... Read the full article
Munich Re concludes reinsurance deal with Softlogic Life
3rd September 2020
Munich Re has concluded a $15 million reinsurance transaction with Softlogic Life Insurance PLC, a life insurer based in Sri Lanka. The deal, which Softlogic Life views as an innovative step for the South Asian Life and Health Reinsurance arena, was competed in March 2020. The company also announced deals with Development ... Read the full article
Brown & Brown acquires VAS Group
3rd September 2020
Insurance brokerage Brown & Brown, Inc. has announced that it has entered into an agreement to acquire VAS Inc. and its affiliated companies. VAS is made up of Vehicle Administrative Services, LP, SafeRide Motor Club, Inc. and other related affiliates, and is owned by Bill Breindel. The transaction is expected to be ... Read the full article
AXIS Insurance & Simply Business target home-based U.S. businesses
3rd September 2020
AXIS Insurance, the specialty insurance arm of AXIS Capital Holdings, has selected digital insurance agency, Simply Business, Inc., as the first distributer to work on a new insurance solution for entrepreneurs. The new product, AXIS Home Based Business insurance, is for U.S. small business owners who operate from their homes, and ... Read the full article
H1 results underscore stable outlook for brokers: Fitch
3rd September 2020
With most re/insurance brokers having now reported their results for the first half of the year, analysts at Fitch ratings are confident that the industry will maintain its stable rating and sector outlook, despite the challenges caused by the coronavirus pandemic. The rating agency noted that risks from the ongoing recession ... Read the full article
The Hanover Insurance adds Theodore Bunting to board
3rd September 2020
The Hanover Insurance Group, Inc. has strengthened its board of directors with the addition of Theodore H. Bunting, Jr., effective September 1st, 2020. Most recently, Bunting served as Group President of the Utility operations at Entergy Corporation, an integrated energy firm engaged in electric power production and retail distribution, from 2012 ... Read the full article
Bermuda Monetary Authority appoints new Director within insurance unit
3rd September 2020
The Bermuda Monetary Authority (BMA) has announced the appointment of Gerald Gakundi to the position of Director Supervision within the insurance unit. Gakundi has over 15 years of experience in the insurance industry and has extensive knowledge of Bermuda’s insurance regulatory environment. In 2010, he joined the BMA as Assistant Director, Supervision ... Read the full article
Skuld appoints Naaman Jensen SVP, Head of NY operations
3rd September 2020
Leading marine insurer Skuld has appointed Åse Naaman Jensen to the role of senior vice president, head of Skuld New York. Naaman Jensen succeeds the retiring Charles Anderson and, to ensure a smooth transition, will work in parallel with him until she taking over full responsibility on 21 February 2021. Naaman Jensen ... Read the full article
Zurich UK names Tim Bailey as new CEO
3rd September 2020
The UK arm of global insurer Zurich has announced the appointment of Tim Bailey as Chief Executive Officer (CEO), succeeding Tulsi Naidu as she transitions to CEO of APAC for the Group. Bailey currently serves as Zurich's Chief Operating Officer (COO) for EMEA, and his appointment as UK CEO remains subject ... Read the full article
Global Parametrics renews Mexican reef cover, backed by Hannover Re
3rd September 2020
Global Parametrics, the parametric and index-based risk transfer startup, has led the renewal of a MXN 42.5 million (USD 1.9 Million) Mexican Reef Protection Program with reinsurance support from Hannover Re. Global Parametrics structured a parametric solution which pays out to support the restoration of a section of the Mesoamerican reef ... Read the full article
QBE Re combines Casualty Treaty teams to support growth
3rd September 2020
QBE Re, the reinsurance division of global insurer QBE, has announced the combination of its US and International Casualty Treaty reinsurance teams into one business unit. QBE Re London states that the establishment of a single Casualty Treaty reinsurance team is designed to enable a "unified market proposition" as the company ... Read the full article
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