Reinsurance News
KPMG appoints Erik Bleekrode as Head of Insurance for APAC
14th January 2020
KPMG has announced the appointment of Erik Bleekrode as its new Head of Insurance for the Asia Pacific (APAC) region, taking over from Simon Donowho. Bleekrode, who has 30 years’ experience in the financial services industry, also serves as Head of Insurance for KPMG in China and leads KPMG China's Insurance ... Read the full article
India to consider more foreign investment for insurance: reports
14th January 2020
India has proposed easing foreign investment rules for its insurance and aviation sectors as part of a push to help stimulate the economy, according to reports from Bloomberg. Sources said the Finance Ministry has considered increasing the limit on foreign direct investment in insurance and pension companies from 49% to 74%. The ... Read the full article
Total reinsurance capital hit record $625bn high in 2019
13th January 2020
Reinsurer capital offset a 3% decline seen in 2018 by increasing 7% over the first nine months of 2019 from $585 billion to $625 billion, according to a report from global re/insurance broker Aon. This was helped by traditional reinsurance capital increasing 9%, or $44 billion to $532 billion, over the ... Read the full article
AM Best stays negative on Brazilian reinsurance
13th January 2020
AM Best has maintained its negative outlook for the Brazilian reinsurance industry, as market volatility and a declining interest rate environment outweigh signs of slow and steady economic growth. Brazil continues to rank as the world’s ninth-largest economy but is considered a difficult country to do business in, particularly for the ... Read the full article
Swiss Re places parametric quake cat bond for Bayview
13th January 2020
Swiss Re Capital Markets, the insurance-linked securities (ILS) focused unit of the global reinsurer, has placed a new parametric-triggered catastrophe bond on behalf of investor Bayview. The first of its kind to be issued under Rule 144A, the cat bond is designed to cover mortgage default risk caused by earthquakes in ... Read the full article
Total cat bond issuance surpasses $100bn: Aon Securities
13th January 2020
Aon Securities, the investment banking division of re/insurance broker Aon, has reported that the catastrophe bond sector has now surpassed $100 billion in cumulative issuance. The sector, which began with the placement of a $45 million all-peril cat bond in 1996, has seen a gradual increase in the utilisation of insurance-linked ... Read the full article
BMS names Alejandro Ceron as COO, Latin America & Caribbean
13th January 2020
Alejandro Ceron has been appointed as the new Chief Operating Officer (COO) of specialist insurance and reinsurance broker, BMS Group's Latin American & Caribbean division, effective immediately. In his new role, Ceron will be based in Miami, U.S. and will report to the CEO of BMS Latin America & Caribbean, Jose ... Read the full article
Global Risk Partners reportedly up for sale
13th January 2020
Lloyd’s of London broker Global Risk Partners is reportedly up for sale, with a potential deal likely to value the firm at between £700 million and £800 million, according to reports from This is Money. Sources have said that a number of US companies are in talks regarding an acquisition. At this ... Read the full article
AXA XL merges units into XL Insurance Company
13th January 2020
Global re/insurer AXA XL has merged its AXA Corporate Solutions (ACS) and AXA ART units into XL Insurance Company SE (XLICSE), effective from December 31, 2019. The decision to merge these subsidiaries in XLICSE was taken following the acquisition of XL Group by AXA in September 2018. Now, the merger has ... Read the full article
Liberty Mutual names Practice Leader for Private Equity and M&A
13th January 2020
Liberty Mutual Insurance has announced the appointment of Amy Gross to the newly created role of Practice Leader, Private Equity and Mergers & Acquisitions (M&A). In this role, she will collaborate with teams across Liberty Mutual’s Global Risk Solutions (GRS) division to drive growth in this segment. Gross has 15 years of ... Read the full article
Chaucer expands political violence team
13th January 2020
Specialist insurer and reinsurer, Chaucer, has announced the expansion of its political violence team with the appointment of Craig Curtiss as Class Underwriter, and Callum Bennett as Deputy Class Underwriter. Both Curtiss and Bennett join the firm in order to support the growth of its leading Political Violence team, which offers ... Read the full article
Gallagher acquires 60% stake in Caribbean broker, RMS
13th January 2020
Global insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co., has announced the acquisition of a 60% share in Risk Management Services Limited (RMS), a Caribbean insurance brokerage. RMS is located in the Port of Spain, Trinidad and Tobago, and is one of the country's top three ... Read the full article
Zurich & Blue Zebra to end underwriting arrangement
13th January 2020
Zurich Australian Insurance Ltd, a division of global insurer Zurich, has announced the end of its underwriting agency agreement with Blue Zebra Insurance Pty Ltd. The agreement was entered into in February 2018, designed to offer a digitally enabled, end-to-end personal lines insurance platform via brokers in the Australian marketplace. It had ... Read the full article
Hiscox targets systemic cyber risk with CyberCube agreement
13th January 2020
Hiscox has entered into an agreement with cyber risk analytics firm, CyberCube, to leverage CyberCube’s Portfolio Management solution in order to produce better insight into potential systemic cyber risk. The agreement provides Hiscox with access to CyberCube’s technology, which will stress test the specialist re/insurer’s book of global commercial insurance business ... Read the full article
QIC names new group CEO
13th January 2020
Qatar Insurance Group has announced the appointment of Salem Khalaf Al Mannai as its Chief Executive Officer. Mannai has occupied a number of key positions within the group since joining its retail department in 2001. He most recently served as the group’s deputy president & CEO and before that held the role ... Read the full article
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