Reinsurance News
Peak Re licensed for Zurich reinsurance subsidiary
23rd December 2016
Peak Reinsurance Company Ltd., a top 50 global reinsurance firm from Hong Kong, has been granted approval to set up a subsidiary, Peak Reinsurance AG, by the Swiss Financial Market Supervisory Authority (FINMA). Peak Re AG, which will be the firm's main underwriting hub in continental Europe, will be based in ... Read the full article
Manning named Reinsurance Group of America CEO, as Woodring retires
22nd December 2016
Anna Manning has been named as the new Chief Executive Officer (CEO) of Reinsurance Group of America by the company's Board, effective January 1st 2017, as current CEO Greig Woodring is set to retire. Manning became President at Reinsurance Group of America in November 2015. At the time of her appointment ... Read the full article
Reinsurance News – Thursday 22nd December 2016
22nd December 2016
Here’s your daily Reinsurance News for Thursday 22nd December 2016: Execution risks sit on Allied World’s side in M&A with Fairfax Financial Ratings agency A.M. Best has warned of "inherent execution risks" in the merger agreement between Allied World and Fairfax Financial, citing that the majority appears to sit with ... Read the full article
Execution risks sit on Allied World’s side in M&A with Fairfax Financial
21st December 2016
The execution risk associated with the impending merger of Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited and specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, sits largely with the latter it appears. Rating agency A.M. Best highlights that while there are ... Read the full article
Reinsurance News – Wednesday 21st December 2016
21st December 2016
Here’s your daily Reinsurance News for Wednesday 21st December 2016: FEMA’s 2017 NFIP flood reinsurance purchase underway The U.S. Federal Emergency Management Agency (FEMA) has started its procurement process for a 2017 flood reinsurance program for the NFIP. Reinsurer Brexit planning to accelerate in 2017 Insurance and reinsurance companies across ... Read the full article
Reinsurer Brexit planning to accelerate in 2017
20th December 2016
Insurance and reinsurance businesses across Europe are expected to accelerate their Brexit planning in 2017, as urgency rises within the industry and the need to ensure continuity in operating models becomes paramount. According to Ivor Edwards of global law firm Clyde & Co in London, the actual timing of the triggering ... Read the full article
Re/insurance M&A could slow on Trump uncertainty
20th December 2016
Uncertainty about the incoming Presidential administration of Donald Trump could slow down U.S. insurance and reinsurance merger & acquisition activity in the first-half of 2017, according to Vikram Sidhu, of Clyde & Co. in New York. Given the expectation that Trump's administration will result in some dramatic swings in policy direction, ... Read the full article
Foreign reinsurers may need to restructure South African operations
20th December 2016
Foreign reinsurance companies operating in South Africa may find that they need to restructure their operations and the way they access the marketplace, in the wake of substantial changes from a recent Insurance Bill. Due to the enacting of this Insurance Bill there will be a tightening on the prohibition of ... Read the full article
Reinsurance News – Tuesday 20th December 2016
20th December 2016
Here’s your daily Reinsurance News for Tuesday 20th December 2016: Bart Hedges leaving Greenlight Re, to step down as CEO & from board The CEO of hedge fund reinsurer Greenlight Re, Bart Hedges, is to step down from his position as of March 31st 2017, and also from his Board ... Read the full article
Doran to join James River Group as CFO, leaving Allied World
20th December 2016
Sarah Doran is joining Bermuda based insurance and reinsurance holding company James River Group Holdings, Ltd. as Chief Financial Officer in the New Year, leaving her current role at Allied World Assurance Company Holdings, AG. Doran has been with Allied World, the re/insurer that is set to merge with Prem ... Read the full article
JLT adds new office in New York for Reinsurance, Specialty, Capital Markets
19th December 2016
Jardine Lloyd Thompson Group plc (JLT), a leading insurance, reinsurance and employee benefits advisor, brokerage and service provider, has announced a move to a new office space in New York for its specialty, reinsurance and insurance capital markets units. JLT will be moving over 100 employees from its JLT Specialty USA, ... Read the full article
Greenlight Capital Re announces Hedges to step down as CEO
19th December 2016
Greenlight Capital Re, Ltd., the Cayman Islands domiciles specialist property and casualty reinsurance firm that is backed by hedge fund manager David Einhorn, has announced that its CEO and Board member Bart Hedges will be stepping down as of March 31st 2017. Leonard Goldberg, a former Chief Executive Officer at Greenlight ... Read the full article
JLT Re acquires StoneHill Reinsurance Partners, LLC
19th December 2016
Reinsurance brokerage JLT Re, a subsidiary of Jardine Lloyd Thompson Group (JLT), has announced the acquisition of StoneHill Reinsurance Partners, LLC (StoneHill), a reinsurance intermediary that specialises in Medical Professional Liability business. StoneHill was established in 2012 by Dan Koshiol as an independent casualty reinsurance brokerage, based in Minneapolis, Minnesota, with a ... Read the full article
Fairfax – Allied World deal suggests more reinsurance consolidation: KBW
19th December 2016
The announcement of the pending merger of Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited and specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, suggests that more consolidation is on the cards, according to analysts. "We think this announcement both confirms and ... Read the full article
Reinsurance News – Monday 19th December 2016
19th December 2016
Here’s your daily Reinsurance News for Monday 19th December 2016: Fairfax Financial buying Allied World for $4.9bn Canadian P&C insurer and reinsurer Fairfax Financial Holdings is to acquire Allied World Assurance Company Holdings for $4.9 billion in cash, after the two entered into a merger agreement. Global reinsurers to ... Read the full article