Reinsurance News
LV= confirms M&A talks with Royal London
28th September 2020
UK insurer Liverpool Victoria Friendly Society (LV=) has confirmed that it is in talks with The Royal London Mutual Insurance Society Limited regarding a possible takeover of LV=. Sources say that the transaction could be worth between £500 million and £1 billion, with the combined entity able to serve nearly 10 ... Read the full article
HDI Global hires Managing Director of Scandinavian Branch
28th September 2020
Global re/insurer, HDI Global Specialty SE has announced the appointment of Thomas Barenthein as the Managing Director of its Scandinavian Branch. He joins the specialty lines insurer from Inter Hannover where he was Managing Director in Sweden. The Scandinavian branch of HDI Global Specialty in Stockholm is the insurer’s centre for ... Read the full article
Thomas Braune appointed CEO of Munich Re subsidiary, NewRe
28th September 2020
Munich Re subsidiary New Reinsurance Company has announced the appointment of Dr Thomas Braune as its Chief Executive Officer. Braune joined Munich Re in 1992 and was most recently in charge of the reinsurers' life and health reinsurance business in Europe, Latin America and the Middle East. He brings over 25 years' ... Read the full article
AM Best confirms SCOR ratings
28th September 2020
AM Best has decided to confirm the Financial Strength Rating and Issuer Credit Rating of SCOR as ‘A+ Superior’ and ‘aa-‘, respectively. The rating agency said the move reflects SCOR’s strong balance sheet strength, as well as its operating performance, very favourable business profile and enterprise risk management. In particular, analysts noted ... Read the full article
BMS adds WTW’s Suzi Morgan as Director
28th September 2020
Independent specialist re/insurance broker BMS Group has announced the appointment of Suzi Morgan as Director. Morgan was formerly Willis Towers Watson's London North American Property Head and her appointment is effective early 2021. Before her time at WTW, Morgan served as principal at Integro Insurance Brokers, focusing on property placements and new ... Read the full article
UK must take flood risk more seriously, says Flood Re CEO
28th September 2020
Flood Re Chief Executive Officer (CEO) Andy Bord has said that the UK “must take flood-risk more seriously,” and stressed the urgency of building a more flood resilient country. In a recent interview with Reinsurance News, Bord discussed how Flood Re is working with the government to address the challenges facing ... Read the full article
SMEs more likely to purchase cyber cover since pandemic: GlobalData
28th September 2020
Data and analytics company GlobalData has recommended that insurers should increasingly focus on larger small and medium-sized enterprises (SMEs) following the COVID-19 outbreak. Analysts found that 8.5% of SMEs said they were more likely to purchase cyber insurance since the start of the pandemic, and among medium-sized SMEs this figure rose ... Read the full article
Insurance companies maintain premium in 2019: AM Best
28th September 2020
A new AM Best report claims that despite a highly competitive P&C industry and pressures on operating performance, rated U.S. mutual insurance companies have reported a continued improvement in underwriting performance in 2019, resulting in a growth surplus. The report states that net premiums written (NPW) for AM Best-rated mutuals grew ... Read the full article
GlobalData praises Ping An’s proactive COVID-19 response
28th September 2020
Analysts at GlobalData have highlighted Ping An as one of few established insurers to have provided a strong proactive response to the COVID-19 pandemic for its customers. According to GlobalData’s thematic insurance scorecard, the chinese insurer was ranked considerably better than its nearest competitors in the COVID-19 response. The company's score was ... Read the full article
Senator & Cannae attack CoreLogic in letter to shareholders
25th September 2020
Investors Senator Investment Group LP and Cannae Holdings Inc. have attacked the performance and conduct of catastrophe risk modeller CoreLogic in a letter to shareholders ahead of a meeting to decide on the future of the firm’s Board. Senator & Cannae hope to convince shareholders to replace nine members of ... Read the full article
Allianz announces key changes to board
25th September 2020
Global insurer Allianz has announced a series of key changes to its board of directors, including the addition of Allianz Technology SE Chief Executive Officer (CEO), Barbara Karuth-Zelle. She has been appointed to the board of Allianz in charge of Operations and IT. Effective 1 January 2021, she succeeds Christof Mascher, who ... Read the full article
Morgan Stanley expects reinsurer earnings quality to improve
25th September 2020
Analysts at Morgan Stanley have said they expect to see the reinsurance industry’s earnings quality improve alongside continued pricing increases. Based on its conversation with reinsurers around the virtual Monte Carlo event this year, the firm said that rate momentum will likely continue throughout 2021 and potentially beyond. And while margin expansion ... Read the full article
CAC Specialty bolsters M&A Solutions Group with HAUSER trio
25th September 2020
Insurance broker CAC Specialty has added Cameron Martin, Katie Flynn, and Erica Kasperkowiak to its M&A Solutions Group. Martin joins as a Senior Vice President and previously led HAUSER’s Private Equity Risk Advisory Practice. Flynn was most recently responsible for Portfolio Management at HAUSER and also joins as a Senior Vice President. Kasperkowiak ... Read the full article
Reinsurers must go “back to basics”: Willis Re’s James Vickers
25th September 2020
James Vickers, Chair of Willis Re International, has said that reinsurers must respond to the myriad challenges in the current market by going “back to basics” and focusing on combined ratios. Speaking in an interview with Reinsurance News, Vickers discussed the findings of a recent Willis Re report, which concluded ... Read the full article
Active Re announces key changes to global underwriting team
25th September 2020
Active Re, a provider of credit-related reinsurance solutions to financial institutions in Latin America, has announced a series of key announcements within its global underwriting team. Martin Bages, who holds 25 years’ experience, will coordinate cooperative relationships with clients in charge of facultative business in Latin America and Treaty business globally. Robert ... Read the full article
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