Reinsurance News
Aon appoints Graeme Rayner to lead new Alternative Distribution platform
20th October 2020
Global insurance and reinsurance broker, Aon, has launched a new London-based platform that matches underwriting expertise with capacity provision through fronting, MGA / MGU and captive solutions, called Alternative Distribution. The new platform will work with fronting structures and will access capabilities from across the company to make a broad range ... Read the full article
Gjensidige Forsikring’s combined ratio improves to 78.2% in Q3
20th October 2020
General insurance provider, Gjensidige Forsikring Group, has reported an improvement in its combined ratio to 78.2% for its Q3 results, in comparison to its Q3 2019 result of 83.2%. The underwriting result was driven by 10% growth in earned premiums, an improved underlying frequency loss ratio and lower large losses. Earned premiums ... Read the full article
UK Gov to reform Solvency II risk margins after Brexit
20th October 2020
As part of its review into Solvency II, the UK Government is planning to reform risk margin rules once the transition period with the EU has ended. Back in June, the government said it would review Solvency II ahead of the December 31st transition deadline to make sure all rules ... Read the full article
Munich Re backed bsurance develops digital insurance solution for kika/Leiner
20th October 2020
Munich Re backed Austrian InsurTech start-up, bsurance, has developed a digital insurance solution for kika/Leiner's furniture stores. The new solution is designed to enable customers to take out extended warranty insurance directly upon purchasing electrical appliances. bsurance worked closely with kika/Leiner to tailor the insurance product to their customer needs. UNIQA ... Read the full article
Kemper’s Q3 results to include cat losses of up to $68mn
20th October 2020
Kemper Corporation has announced that it anticipates its third quarter 2020 results will include pre-tax catastrophe losses ranging from $62 million to $68 million, primarily related to wildfire and hurricane events. The company notes that it does not expect ... Read the full article
InsurTech startups need to learn from previous mistakes: Convergence 2020
20th October 2020
In a virtually held 2020 ILS Bermuda Convergence event, Insurtech became the main focus on a panel featuring Lyndsey Toeppen, Former Vice-President, Sandbox Insurtech Ventures and Adrian Jones, Deputy CEO, P&C Partners, Ventures & Strategic Partnerships, SCOR. The question of what it takes for an InsurTech to be successful will be ... Read the full article
Enstar’s latest Watford bid could lead to a “Superior Proposal”
20th October 2020
The unsolicited, non-binding proposal from Enstar Group Limited to acquire the common shares of Watford Holdings Ltd. could reasonably be expected to lead to a "Superior Proposal" as defined in Watford's merger agreement with Arch Capital Group Ltd., according to the firm's Board of Directors. On October 15th, legacy acquirer ... Read the full article
Hippo adds former Marsh CFO to Board
20th October 2020
Hippo, a California-based insurtech focused on US home insurance, has announced the addition of Sandra Wijnberg to its Board of Directors. Wijnberg was previously the Chief Financial Officer (CFO) of Marsh & McLennan Companies, and also worked as a Partner, Chief Administrative Officer and member of the Board of Aquiline Holdings. At ... Read the full article
COVID-19 has created significant challenges for EMEA insurers: Moody’s
20th October 2020
Moody’s Investors Service has released a report which shows how COVID-19 has impacted the global economic slowdown, creating significant challenges for EMEA insurers, whilst amplifying many existing key areas of concern. Analysts at Moody’s noted that along with low interest rates and asset quality risks, which are tilted to the downside, ... Read the full article
China’s motor insurance reforms a win for consumers, insurers: Swiss Re
20th October 2020
While recent motor insurance reforms in China will likely result in increased price volatility and premium growth slowdown in the near term, both consumers and insurers will benefit in the longer term, according to analysis from Swiss Re Institute. China is the second largest car ownership market in the world, with ... Read the full article
Demand for cyber cover to rise alongside frequency & severity: Höpke, Munich Re
19th October 2020
The frequency and severity of cyber events is on the rise and as the peril grows in relevance, particularly under COVID-19 conditions, demand for protection is likely to continue to increase, according to Doris Höpke, Member of the Board of Management at Munich Re. As the ongoing pandemic continues to restrict ... Read the full article
Liberty Mutual to leverage CoreLogic’s property estimation platform
19th October 2020
Catastrophe risk modeller CoreLogic has announced the addition of Liberty Mutual Insurance to the list of companies leveraging its cloud-based property estimation platform. The deal will see Liberty Mutual migrate to CoreLogic’s cloud-based insurance hub. The hub uses an open architecture and and API framework designed to make it easy for Liberty ... Read the full article
HDI Global hires Alexander Wiebe from AXA
19th October 2020
Specialty insurer, HDI Global Specialty SE has announced the appointment of Alexander Wiebe from AXA, as the insurer intends to enter the German Fine Art and high net worth insurance market. Weibe joins the insurer as Head of Fine Art & Lifestyle Continental Europe and Managing Director of HDI Global Specialty ... Read the full article
Echo Re adds Tim Griffiths as Head of Marine & Energy
19th October 2020
Zurich-based Echo Reinsurance Limited has announced the appointment of Tim Griffiths as its new Head of Marine & Energy, effective October 5th, 2020. Griffiths brings more than three decades of experience in marine, energy and aviation lines of business to the company. During his career, he has spent time at the Lloyd’s ... Read the full article
Cat losses dent FedNat’s Q3 net income; Delta to trigger agg reinsurance
19th October 2020
FedNat Holding Company estimates that catastrophe weather losses incurred in the third-quarter of 2020 will reduce its net income for the period by approximately $29 million, primarily driven by the impacts of Hurricanes Laura and Sally. The $29 million total is after-tax and net of all recoveries, including reinsurance. Alongside losses ... Read the full article
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