Reinsurance News
Pacific Life names Chief Marketing Officer of Retirement Solutions Division
17th April 2020
US life insurer Pacific Life has announced the appointment of Kevin Kennedy as Senior Vice President, Sales and Chief Marketing Officer of the company’s Retirement Solutions Division. Kennedy joins Pacific Life from AXA Equitable Holdings (EQH), where he served as Managing Director and head of the company's largest business unit, individual ... Read the full article
Public-private partnerships needed to tackle pandemic risks, says FERMA
17th April 2020
The Federation of European Risk Management Associations (FERMA) has underlined the importance of public - private partnerships in addressing global pandemic risks. In a recent letter, FERMA has called on the European Commission's coordinating response team to take steps to mitigate the impact of future pandemics in light of the ongoing ... Read the full article
Chris Flint named President of Farmers New World Life Insurance Company
17th April 2020
US primary insurer Farmers Insurance has announced the appointment of Chris Flint as President of Farmers New World Life Insurance Company. Flint will join the company and take up his new position on April 20, 2020. He will report directly to Steve McAnena, President of Distribution, Life and Financial Services, and will ... Read the full article
COVID-19 to deter M&A activity in 2020: Conning
17th April 2020
With mergers and acquisitions (M&A) in the P&C market already slowing through 2019, the COVID-19 pandemic is likely to deter further activity through 2020, according to analysts at Conning. Conning noted that M&A activity involving acquisitions of property and casualty insurers last year was down approximately 6% compared to 2019. And with ... Read the full article
Berkshire Hathaway’s Wellfleet partners with EIS Group on new solution
17th April 2020
Wellfleet, a Berkshire Hathaway insurance company, is partnering with industry technology firm EIS Group on an insurance administration platform designed to meet the evolving demands of the employee benefits market. In the complex voluntary benefits landscape, brokers and their clients commonly work with multiple systems, fighting to integrate with carriers’ patchworked ... Read the full article
Argo Group announces new board members
17th April 2020
Specialty reinsurer Argo Group has announced the election of three new board members at its Annual General Meeting. Appointments include Bernard C. Bailey, Fred R. Donner and Argo Group Chief Executive Officer Kevin J. Rehnberg. Five former directors are retiring from the board, including former Board Chairman Gary V. Woods, F. Sedgwick ... Read the full article
AXIS Capital appoints McCormick CEO of Irish reinsurance legal entity
17th April 2020
Bermudian re/insurer AXIS Capital has appointed Mark McCormick as Chief Executive Officer of AXIS Re SE (ARe). ARe is AXIS Capital’s reinsurance legal entity domiciled in Ireland and regulated by the Central Bank of Ireland, with a Zurich branch. McCormick will be responsible for ARe and the legal entity aspects of its ... Read the full article
Forced COVID-19 payments could “bankrupt” industry: Chubb CEO
17th April 2020
Legal efforts to make insurers retroactively pay for business interruption losses related to the coronavirus (COVID-19) pandemic could “bankrupt the industry,” according to Chubb CEO Evan Greenberg. Speaking in an interview with Bloomberg, Greenberg said that the insurance industry is “a fundamental part of the economic plumbing” of the US, and ... Read the full article
COVID-19 insured losses are going to be massive, says Allianz CEO
17th April 2020
Oliver Bäte, the Chief Executive Officer (CEO) of global insurer and reinsurer Allianz, has said in an interview with Bloomberg Television that while the company itself doesn't have large exposures, for the industry, losses from the COVID-19 coronavirus pandemic are going to be massive. The unprecedented changes and challenges created by ... Read the full article
Strong year ahead for bulk annuities after record 2019: Aon
17th April 2020
Re/insurance broker Aon is expecting another strong year for the bulk annuity market in 2020 after business reached a record high of £42 billion last year. The market easily surpassed the previous record of £24 billion set in 2018, which was itself almost twice as high as the previous peak of ... Read the full article
James Kelley named President of Hanover Specialty Industrial Property
17th April 2020
The Hanover Insurance Group has named James Kelley as President of Hanover Specialty Industrial Property, replacing James Abraham, who is retiring from the firm in April. In his new role, Kelley will take responsibility for enhancing the company's board portfolio of insurance solutions for complex high hazard industrial business. Most recently, Kelley ... Read the full article
Global Parametrics targets coverage for Costa Rice coffee farmers
17th April 2020
Global Parametrics, a parametric and index-based risk transfer startup backed by the UK and German governments, has partnered with Arbol Inc. and Propina to provide coverage to smallholder coffee farmers in Costa Rica. Propina is a non-profit organisation with a platform that connects coffee consumers to coffee farmers around the world ... Read the full article
Insurtech Sprout.ai secures $2.5mn investment
17th April 2020
Sprout.ai, a London-based claims automation platform previously called BlockClaim, has secured $2.5 million in its second seed round, with funding from Amadeus Capital Partners. Amadeus Capital Partners, a specialist in deep tech investing, led the round and was joined by Playfair Capital and Techstars. The investment will allow Sprout.ai to build its ... Read the full article
Allianz Partners add Vinay Surana as CEO, Asia Pacific
17th April 2020
Allianz Partners has announced the appointment of Vinay Surana as Regional Chief Executive Officer, Asia Pacific. Based in Singapore, Surana will lead the Asia Pacific business with responsibility for Australasia, China, Japan, India and South East Asia. He reports directly to Dan Assouline, Global Head of Markets and Board Member, Allianz Partners. Surana ... Read the full article
COVID-19 to drive more reinsurance firming: survey results
16th April 2020
As COVID-19 continues to profoundly influence developments in the re/insurance industry, Reinsurance News has collaborated with its ILS-focused sister-site, Artemis, to take the pulse of the market at this challenging time. The results of the COVID-19 Market Survey are based on responses from hundreds of market ... Read the full article
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