Reinsurance News
MS Amlin promotes Ho to CEO of Asia Pacific as Clarke departs
4th February 2020
Insurer and reinsurer MS Amlin has revealed that William Ho, currently Head of Reinsurance (Asia), has been appointed Chief Executive Officer (CEO) of MS Amlin Asia Pacific. Ho's appointment remains subject to regulatory approval and he takes over the responsibilities of CEO of the division from Simon Clarke, who is leaving ... Read the full article
AFG’s Q4 results include $58mn non-core charge from Neon exit
4th February 2020
American Financial Group, Inc. (AFG) has reported net earnings of $211 million for the fourth-quarter of 2019 against a net loss of $29 million for the same period in 2018. The growth in earnings has occurred despite the firm's Q4 result including a $58 million hit from its previously announced ... Read the full article
GIC Re’s Russian subsidiary obtains reinsurance licence
4th February 2020
GIC Perestrakhovanie LLC, Russia, a wholly owned subsidiary of India's General Insurance Corporation of India (GIC Re), has now received a reinsurance licence from the Central Bank of Russia (CBR). The approval means that GIC Re is the first reinsurance firm in more than 10 years to be granted this licence, ... Read the full article
Aon enhances cyber services with Cytelligence acquisition
4th February 2020
Re/insurance broker Aon has expanded its cyber offering with the acquisition of Cytelligence Inc, a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, and security consulting and training services. The acquisition will help Aon expand its current coverages within the cyber market at a time when cyber ... Read the full article
Swiss Re committed to finding solutions to tackle cancer: Chief Medical Officer, Schoonbee
4th February 2020
On World Cancer Day, the Global Chief Medical Officer at reinsurance giant Swiss Re, John Schoonbee, explores the fast moving and complex disease and how re/insurers like Swiss Re can collaborate to bring significant benefits. According to the World Health Organization (WHO), globally, cancer is the 2nd leading cause of death, ... Read the full article
Safety National restructures executive management, COO Luebbert to retire
4th February 2020
Safety National Casualty Company, a specialty provider of insurance and reinsurance, has announced a number of changes to its executive management structure, including the retirement of Chief Operating Officer (COO), Steve Luebbert. Effective April 1st, 2020 Luebbert is set to retire after 44 years working in the insurance sector. He has ... Read the full article
Radian taps capital markets for another $488mn of mortgage reinsurance
4th February 2020
US mortgage insurer Radian Guaranty, a subsidiary of Radian Group, has obtained a further $488 million of fully collateralised mortgage reinsurance from the capital markets. This transaction marks the third time Radian Guaranty has utilised the insurance-linked securities (ILS) market for mortgage reinsurance, following a $455 million deal in November ... Read the full article
Carl Titterton to lead Markel’s trade credit, political risk & surety team
4th February 2020
Specialist insurer Markel International has announced the appointment of Carl Titterton as divisional managing director of its trade credit, political risk and surety (TCPRS) team. Titterton joined Markel International in April 2010 as a senior underwriter, specialising in credit insurance, and supported the integration of trade credit, political risk and surety ... Read the full article
The Hartford boosts net income by 15% in 2019
4th February 2020
Property and casualty insurer The Hartford has increased its full-year net earnings to $2.064 billion, due to lower catastrophe losses and investment income from the acquisition of Navigators Group. This figure represents a 15% increase on the $1.801 billion achieved in the prior year. Core earnings similarly came out at $2.062 billion, ... Read the full article
Chinese economic plans to generate re/insurance growth: Swiss Re
4th February 2020
China’s forthcoming five-year economic plans are likely to generate re/insurance sector growth in protection-type products, mutual, health and pensions insurance, as well as infrastructure and other business opportunities, according to anew report from Swiss Re Institute. The plan for the years 2021-2025 aims to transition China toward a high-income economy, with ... Read the full article
Munich Re announces appointments of Daniel Cenzano & Stephanie Weiler
4th February 2020
Global reinsurer Munich Re has announced the appointment of Daniel Cenzano as the Head of Global Business Communications, and Stephanie Weiler as the Head of Global Brand & Operations. In their new roles, Cenzano will be based in New Jersey, and Weiler in Minnesota, and both will report to Andreas Lampersbach, ... Read the full article
Tokio Marine integrates Thailand unit with Safety Insurance
4th February 2020
Tokio Marine has announced the completion of the integration between its Thai subsidiary, Tokio Marine Insurance (Thailand) PCL. (TMITH), and Safety Insurance Public Company Limited. The combined company, which will officially launch as Tokio Marine Safety Insurance (Thailand) Public Company Limited' (TMSTH), has now received approval from the Office of Insurance ... Read the full article
US insurers hiking cyber premiums as ransomware costs rise
3rd February 2020
US insurers are hiking cyber premiums by as much as 25% in some cases following a surge of costly ransomware claims, according to reports from Reuters. The rate increases come as many insurers look to reduce their exposure to these forms of cyber attacks, which are becoming increasingly sophisticated and dangerous. Ransomware ... Read the full article
AFL Insurance Brokers names head of Professional Indemnity
3rd February 2020
Independent Lloyd’s broker AFL Insurance Brokers Ltd has announced the appointment of Kevin White as head of its Professional Indemnity division. He arrives from Ed., where he served as Director of Professional Risks and was responsible for handling all insurance requirements for large offshore law firms and trust companies. White began his ... Read the full article
Donna Pyle named CUO of Berkley’s Verus Underwriting Managers
3rd February 2020
Donna Pyle has been appointed as Chief Underwriting Officer (CUO) of Verus Underwriting Managers, a subsidiary of W.R. Berkley Corporation. Most recently, Pyle worked for a specialty insurance group as the Vice President of Underwriting. She has also served as the Casualty Operations Manager and Assistant Vice President of Regulatory Compliance for ... Read the full article
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