Reinsurance News
Sollers to support integration of new rating engine at Amica Mutual
11th June 2020
Business and IT consultancy firm, Sollers Consulting, recently won a tender to implement a new rating engine at the oldest mutual car insurer in the U.S., Amica Mutual. The U.S. insurer is set to decommission its existing legacy rating engine to increase the speed to market of rating changes and to ... Read the full article
Prosperity Life acquires closed-book businesses from National Guardian Life
11th June 2020
National Guardian Life Insurance Company (NGL) has announced an agreement to sell certain closed-block businesses to Prosperity Life Assurance Limited (Prosperity Life). The businesses in question have combined net statutory reserves of approximately $400 million and consist of life, annuity and A&H lines. “This reinsurance transaction with NGL launches Prosperity Life Assurance ... Read the full article
Rich Macrane joins BMS from WTW as EVP, Casualty Fac Leader, US
11th June 2020
Specialist insurance and reinsurance brokerage BMS Group has named Rich Macrane as Executive Vice President (EVP), Casualty Facultative Leader, effective June 22nd, 2020. In his new role, Macrane will be based in the company's Philadelphia office and will report to Pete Chandler, President and Chief Executive Officer (CEO) of BMS' U.S. ... Read the full article
Flood forecasting insurtech Previsico targets US market
11th June 2020
Previsico, a SpinOut insurtech company from Loughborough University that specialises in flood modelling, has announced that it plans to target the US market, backed by funding from Innovate UK. The insurtech launched UK-wide in November 2019 to support insurers, brokers, and customers with live flood warnings, including uniquely for surface water ... Read the full article
Thomas Miller appoints Frank Bergert to lead German business
11th June 2020
Thomas Miller, a provider of insurance, professional and investment services, has announced the appointment of Frank Bergert as Chief Executive of Thomas Miller Hamburg. Bergert succeeds Tobias Braun, who has left the business after eight years to pursue new endeavours in the industry. Frank Bergert has been involved with the business since ... Read the full article
SCOR Channel names Heads of Underwriting Insight & Terrorism
11th June 2020
SCOR Channel, part of SCOR’s Specialty Insurance platform, has announced the appointments of Christian Stanley as Head of Underwriting Insight and Christianna Vandoorne as Head of Terrorism and Political Violence. Stanley was previously the Casualty Executive of Lloyd’s’ underwriting performance management directorate. In this role, he was responsible for the oversight of ... Read the full article
Aon enhances CyQu cyber risk assessment to reflect remote working exposures
11th June 2020
Global re/insurance brokerage Aon has announced the expansion of its cyber risk assessment methodology, CyQu Enterprise, to help analyse and understand the cyber security impacts in light of the increase in remote working amid the COVID-19 pandemic. Designed specifically for SMEs, Aon's CyQu is an automated cyber self-assessment. Businesses complete a ... Read the full article
Munich Re’s HSB launches online broker trading platform in Ireland
11th June 2020
HSB, the specialist engineering and technology insurance arm of Munich Re, has launched a new broker online trading platform in Ireland, called HSB Fast Track. HSB Fast Track e-trade platform will offer brokers in Ireland a suite of HSB products that includes Construction Annual, Construction Project, Contractors’ Plant, and Computer and ... Read the full article
Lancashire sees rate increases of up to 30% at June renewals
11th June 2020
Specialty insurer and reinsurer Lancashire Holdings Limited has reported rate increases of 20%-30% for its Florida property catastrophe portfolio at the June 1 renewals. The company expects the momentum of rising rates to continue in this and other classes of business across its portfolio during the rest of this year and ... Read the full article
IRB Brasil Re adds Cavalcante as senior advisor, chair of board
11th June 2020
Brazilian reinsurer IRB Brasil Re has announced the appointment of Cesar Cavalcante as direct advisor of the CEO and chairperson of the reinsurer's Board of Administration, Antônio Cássio dos Santos. Cavalcante brings more than 40 years in the insurance and reinsurance market. He has worked in projects at large companies in the ... Read the full article
Jerome Swinscoe takes over as President of Tokio Marine HCC – Credit Group
11th June 2020
Tokio Marine HCC (TMHCC) has announced that Jerome Swinscoe will take over as President of Tokio Marine HCC – Credit Group, as current President Mark Reynolds transitions into a new role as Chairman. Both appointments will be effective as of January 1, 2021. Swinscoe currently serves as Chief Underwriting Officer of Tokio ... Read the full article
Enstar announces $610mn StarStone US recapitalisation
11th June 2020
Enstar Group Limited has agreed to a $610 million recapitalisation of StarStone U.S. Holdings, Inc. led by SkyKnight, Dragoneer, and Aquiline, as the company repositions towards specialty excess & surplus (E&S) growth. Investors SkyKnight Capital, L.P., Dragoneer Investment Group and Aquiline Capital Partners LLC have committed $610 million in fresh equity ... Read the full article
FCA’s legal action will provide a “clear line” to resolve BI claims: CEO Woolard
11th June 2020
The Financial Conduct Authority’s (FCA) efforts to obtain legal clarity on business interruption (BI) policies connected to the COVID-19 pandemic will provide a “clear line” to resolve which claims are valid and which aren’t, according to Interim CEO Chris Woolard. Speaking as part of the Inside FCA Podcast, Woolard argued that ... Read the full article
Sompo International expands partnership with Clearwater
11th June 2020
Specialty P&C re/insurer Sompo International has expanded its partnership with Clearwater to include consolidated book of record accounting for additional international entities in more than six countries. Clearwater provides automated investment data aggregation, reconciliation, and validation to Sompo International. Clearwater’s multi-currency and multi-asset class investment accounting provides customized general ledger entries for ... Read the full article
AIG Re names Paschal Brooks as CEO of AlphaCat
11th June 2020
American International Group (AIG) has announced that Paschal Brooks has taken on the role of Chief Executive Officer (CEO) of AlphaCat Capital Inc., an AIG subsidiary that provides investment advisory services to the insurance-linked securities (ILS) space. Brooks' appointment is effective April 1st, 2020 and he reports to Chris Schaper, CEO ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
