Reinsurance News
AXIS Insurance hires Daniel Stevens as Risk Engineer, Renewable Energy
16th April 2020
AXIS Insurance, the insurance arm of Bermuda-based AXIS Capital Holdings Limited, has announced the hiring of Daniel Stevens to the newly created role of Risk Engineer within its Renewable Energy team. In his new role, Stevens will work closely with the firm's Renewable Energy underwriters and also external parties involved in ... Read the full article
Swiss Re opens Life Guide underwriting manual to L&H insurers
16th April 2020
Swiss Re is opening access to its proprietary Life Guide underwriting manual to all life and health insurers for 90 days, in a response to the COVID-19 pandemic. Life Guide is designed to help users understand risks and how they interact with each other. The underwriting manual includes the ability to reference ... Read the full article
Climate risk to transform energy sector: Willis Towers Watson
16th April 2020
Analysts at Willis Towers Watson (WTW) have suggested that climate change risks and environmental social governance (ESG) will have a transformative effect on the energy insurance industry in the coming years. As part of its annual Energy Market Review, WTW noted that the recent oil price war and the reduction in ... Read the full article
Miller launches quote and bind platform for yacht policies
16th April 2020
Miller Insurance Services LLP, a London wholesale and specialist insurance and reinsurance broker, has launched a new quote and bind platform to support the submission, placement and management of yacht policies. The platform, called, Atlantic, handles full binder, limited authority and facultative open market yacht business for intermediaries globally. It aims to ... Read the full article
Risk Placement Services partners with Munich Re Specialty
16th April 2020
Wholesale insurance broker Risk Placement Services (RPS), has announced a new public entity program for clients through a partnership with Munich Re Specialty Insurance (MRSI). The new program expands upon an existing partnership with MRSI and offers a first dollar, low deductible insurance product for public entities and special districts. The packaged ... Read the full article
Beazley names Bethany Greenwood as Head of Cyber & Exec Risk
16th April 2020
Specialist insurer Beazley has announced the appointment of Bethany Greenwood as Global Head of Cyber & Executive Risk (CyEx) from July 2020. Greenwood, who will also become part of Beazley’s executive committee, joined the company last September to lead the London market and US-based executive risk team. In this role she was ... Read the full article
Tokio Marine HCC adds adds Nick Pastor as SVP, Chief Actuary
16th April 2020
Tokio Marine HCC, a member of Tokio Marine Group, has appointed Nick Pastor as senior vice president and Chief Actuary. He reports to Tom Weist, Tokio Marine HCC’s Co-Chief Financial Officer. Pastor brings more than 25 years of actuarial experience to the role and most recently served as Deputy Chief Actuary at ... Read the full article
COVID-19 premium adjustments not expected to hit long-term profits: Fitch
16th April 2020
Fitch Ratings does not expect recent premium adjustments announced by property/casualty insurers in response to the impacts of the COVID-19 pandemic to affect long-term market profits or individual company ratings. Driven by unanticipated declines in risk exposures and claims incidence following the economic impact caused by the ongoing coronavirus pandemic, some ... Read the full article
Liberty Specialty Markets appoints Casualty Manager for Continental Europe
16th April 2020
Liberty Specialty Markets, a division of Liberty Mutual Insurance Group, has announced the appointment of Katja Bobrowski to the newly created position of Casualty Manager, Continental Europe. Based in Cologne, Bobrowski will report to Head of Liberty Specialty Markets Central Region, Kadidja Sinz. In her new role, she takes responsibility for developing ... Read the full article
Hiscox sees Covid-19-related business interruption exposure as limited
16th April 2020
Insurer and reinsurer Hiscox expects its exposure to any business interruption losses from the COVID-19 pandemic to be limited, while its Retail segment makes use of significant levels of reinsurance protection. The re/insurer has released a statement explaining that its core policy wordings do not provide coverage for BI as a ... Read the full article
American Financial Group lowers investment forecast due to COVID-19
16th April 2020
American Financial Group, Inc. (AFG) has revised its earnings guidance for 2020 due to the impacts of the coronavirus (COVID-19) pandemic on the financial markets. The company noted that, since providing its 2020 guidance, COVID-19 has had widespread financial and economic impacts, including a significant decrease in both equity and credit ... Read the full article
AM Best maintains negative outlook on UK non-life
16th April 2020
Rating agency AM Best has opted to maintain its negative outlook on the UK non-life insurance market, due to factors such as lower premiums following the COVID-19 pandemic, strong competitive pressures on underwriting performance, and Brexit-related uncertainty. Analysts noted that the underwriting margins of UK non-life insurers are likely to be ... Read the full article
Berkshire (BHSI) expands offering for UK financial firms
16th April 2020
The insurance arm of Warren Buffett's global insurance and reinsurance company, Berkshire Hathaway Specialty Insurance Company (BHSI), has introduced two new policies for UK financial institutions. Namely, these are Professional First Financial Institutions Civil Liability Insurance, and Executive First Financial Institutions D&O Liability Insurance. Both policies offer broad coverage for liability exposures ... Read the full article
Chartered Insurance Institute extends president, chair term amid COVID-19
16th April 2020
The Chartered Insurance Institute (CII) has decided to extend the term of the current serving President and Chair of the Board amid disruption caused by the coronavirus pandemic. Nick Turner, Sales and Agency Director at NFU mutual, was appointed as President in 2019. The CII usually appoints a new president and chair ... Read the full article
WTW adds Matt Scott as climate, resilience senior director
16th April 2020
Global re/insurance broker Willis Towers Watson has appointed Matt Scott as a senior director within its Climate and Resilience Hub. Scott brings more than 20 years’ experience to the role, having most recently played an integral role in the Bank of England’s climate team under Governor Mark Carney from 2014. In his ... Read the full article
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