Reinsurance News
O2 Broking registered as first Lloyd’s broker in Denmark
19th October 2020
O2 Broking ApS has been approved as the first Lloyd’s Registered Broker in Denmark as part of the re/insurance marketplace's preparations for Brexit. Lloyd's previously established a hub in Brussels to help it transition smoothly as the UK exits the European Union. However, subject to current negotiations between UK and EU about ... Read the full article
PERILS estimates Queensland April hail loss at AU $604mn
19th October 2020
Catastrophe insurance data provider PERILS has estimated that the April 2020 Central Queensland hailstorms will cost the re/insurance industry approximately AU $604 million (US $430 million). Six months on from the event, this is PERILS’ first estimate, given that insured losses were not initially expected to exceed the firm’s loss reporting ... Read the full article
Gallagher to add Ian Kerton as partner within motor, specialty
19th October 2020
Specialist reinsurance broker Gallagher Re is set to add Ian Kerton to its Motor & Casualty division as a partner. Kerton will take on his new role in April 2021, bringing 27 years’ treaty reinsurance market experience. He joins from Guy Carpenter, where he has led the UK Property & Casualty team since ... Read the full article
Clara-Pensions adds Wilton Re as capital partner
19th October 2020
Defined benefit pension schemes consolidator Clara-Pensions has announced the addition of Wilton Re as a capital partner. Wilton Re Overseas Limited, a member of the Wilton Re Group of companies, will join global investment firm Sixth Street in supporting the growth of Clara-Pensions. Wilton Re is a global reinsurer that specialises in ... Read the full article
Aon releases study on Global Risk, Profitability and Growth Metrics
19th October 2020
Re/insurance broker Aon has released a study on Global Risk, Profitability, and Growth Metrics, focusing mainly on the Property & Casualty (P&C) business. P&C has produced an underwriting profit in 2019 with a combined ratio of 97.4 percent, a decrease from last year’s 98.0 percent combined ratio Europe averaged a 95.5 percent ... Read the full article
Low interest rates impacting profitability of reinsurers, says Munich Re
19th October 2020
After years of eroding rates from excess capacities and low major-loss expenditure, Munich Re says low interest rates, exacerbated by the coronavirus pandemic, are impacting the profitability of reinsurers. As a result, insurance covers are likely to become more expensive, particularly for long-term risks in third-party liability and other lines. Munich Re ... Read the full article
Hannover Re’s E+S Rück forecasts rising P&C prices in German market
19th October 2020
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, has said that it expects to see rising prices and improved conditions in 2021 for property and casualty (P&C) reinsurance in Germany. In particular, E+S Rück noted that pricing has been buoyed by COVID-19 related losses and intensification ... Read the full article
Elementum adds Shabnam Ahmed to Bermuda office as SVP, Underwriting
19th October 2020
Alternative investment manager Elementum Advisors has added Shabnam Ahmed to its Bermuda office as Senior Vice President, Underwriting. Ahmed will support Elementum's portfolio construction efforts as well as participate in the training and education of the next generation of the company's underwriters. She most recently served as Vice President & Head of ... Read the full article
Parametric triggers the solution to pandemic backstop: Third Point Re’s Tracey Gibbons
19th October 2020
While it is clear that the enormous risks posed by future pandemics can only be tackled through public-private partnerships, the solutions proposed so far fail to fully contend with the scope and complexity of a global systemic threat of this nature. This is where parametric triggers come in, says Third Point ... Read the full article
ICMR launches Lloyd’s syndicate capital & performance analysis tool
19th October 2020
Insurance and capital markets quantitative analysts ICMR has announced the release of its Lloyd’s syndicate capital and performance analysis tool. ICMR.Matrix is a cloud-based tool able to compare the relative performance of various syndicates against their relative capitalisation over different time periods. This allows clients to see how these factors impact returns ... Read the full article
LMG provides update on business environment workstream
19th October 2020
The London Market Group has provided an update on the progress of its work with the UK Government aimed at developing new trading opportunities. Part of the workstream's goal is to engage with the UK government, parliamentary parties and the civil service to provide clarity on the position of the London ... Read the full article
DUAL to deploy Hyperion underwriting capital, hires CUO
19th October 2020
DUAL, the underwriting arm of Hyperion Insurance Group, has announced its intention to deploy group underwriting capital alongside its existing capacity providers. At the same time, DUAL has announced the addition of Alan Telford as Chief Underwriting Officer (CUO), effective from November 1st. Telford will report to Richard Clapham, who currently holds ... Read the full article
Zurich adds medical stop loss for national carrier-administered programs
19th October 2020
The North American business of global insurer Zurich is launching a medical stop loss insurance product for larger employers with self-funded group health plans administered by national carriers. Zurich created the new solution in collaboration with program administrator Medical Risk Managers. "Zurich's collaboration with MRM enables us to extend our capabilities in medical ... Read the full article
Prospectus 2021 – agenda available for Reinsurance News & Artemis conference
16th October 2020
With less than a month to go until the start of the new conference from Reinsurance News and our sister publication, Artemis, we’ve released a run-down of the discussions you can expect to see at this week-long event. Prospectus 2021 brings together our two publications to address issues relevant ... Read the full article
COVID-19 tail unclear, but we’ve much further to travel in casualty: Willis Re
16th October 2020
While insurers and reinsurers looked to book much of their pandemic losses in the second-quarter, the potential for casualty lines development could persist for years and be very significant, according to executives at reinsurance broker Willis Re. It's likely to be years before we understand the full impact of the ongoing ... Read the full article
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