Reinsurance News
Aon’s Helene Madell named CBO for Commercial Risk, Health & Affinity UK
20th January 2020
Global insurance and reinsurance broker Aon has appointed Helene Madell as Chief Broking Officer (CBO) for Commercial Risk Solutions, Health Solutions and Affinity in the UK, effective April 6th, 2020. Madell currently serves as Chief Broking Officer for Commercial Risk Solutions, Health Solutions and Affinity for the broker in the Pacific ... Read the full article
P&C re/insurers seeking alternatives to higher cost debt: AM Best
20th January 2020
US property and casualty (P&C) re/insurance companies are increasingly using low interest rates to extend their debt maturity profiles and replace higher cost debt with lower cost alternatives, according to AM Best. In a recent report, the rating agency observed that P&C re/insurers with outstanding public debt have begun to focus ... Read the full article
Swiss Re CEO urges more climate action from businesses
20th January 2020
Swiss Re CEO Christian Mumenthaler has called on private businesses across the financial sector to come together to create a more viable action plan to address the challenge of climate change. He argued that reducing the effects of climate change is a common goal that should be supported across the global ... Read the full article
Dorian reinsurance inflows to Bahamas exceed $1bn
20th January 2020
More than $1 billion in reinsurance payments are set for flow to the Bahamas, of which residents will receive 50%, according to reports from The Tribune. The publication quoted John Rolle, Governor of the Central Bank of the Bahamas, who disclosed the figure to attendees at the recent Bahamas Business Outlook ... Read the full article
Pool Re Solutions appoints Head of Risk Management
20th January 2020
UK government-backed terrorism reinsurer, Pool Re, has announced the appointment of Chris Medhurst-Cocksworth as Head of Risk Management within Pool Re Solutions. In his new role, Medhurst-Cocksworth will be tasked with leading the risk management services offered by Pool Re Solutions, a recently established specialist unit designed to help UK insurers ... Read the full article
AmTrust Title Insurance appoints Michael Bebon to EVP role
20th January 2020
AmTrust Title Insurance Company, the title insurance subsidiary of P&C re/insurer AmTrust Financial Services, has appointed Michael Bebon as Senior Executive Vice President of Direct Operations. He joins the company after 32 years as a sales executive with Lawyers Title / Commonwealth Land Title. During this career, Bebon has insured over $600 ... Read the full article
The Institutes launches blockchain innovation hub
20th January 2020
The Institutes RiskStream Collaborative, the industry’s largest enterprise-level blockchain consortium, has created a new hub designed to accelerate innovation. 'RiskStream Labs' will serve as a resource for both member and nonmember organisations and will be dedicated to quickly vetting and advancing blockchain initiatives, specifically at the proof-of-concept phase. Headed by RiskStream Collaborative ... Read the full article
HDI partners with Michelin on company fleet safety solution
20th January 2020
HDI Global SE, the industrial insurance arm of the HDI Group, has partnered with French tyre manufacturer Michelin on a solution designed to help prevent and reduce road risk for company vehicle fleets. The solution involves vehicles being equipped with a connected box that allows driving data to be processed and ... Read the full article
Kazakhstani captive transfers incorporation to the AIFC from Bermuda
20th January 2020
For the first time, the Astana Financial Services Authority (AFSA) has licensed a captive insurer to commence the regulated activities of effecting contracts of insurance and carrying on contracts of insurance, it's been revealed. The AFSA has issued the license to Kazakhstan Energy Reinsurance Company Ltd. (KERC), and according to an ... Read the full article
Zurich boosts underwriting & claims capability in Australia & New Zealand
20th January 2020
Global insurer Zurich has announced three new leadership appointments within its General Insurance operation in Australia and New Zealand, as it looks to strengthen its underwriting and claims capability. In underwriting, Zurich has named Alex Morgan, currently the Head of Specialty for Commercial Insurance for Zurich's Asia Pacific region, as Head ... Read the full article
Severe hailstorms hit Australia, as bushfire losses climb
20th January 2020
Storms have brought severe hailstorms and heavy downpours to parts of south-east Australia, causing major damage in areas already ravaged by the ongoing bushfire crisis. The rains and resultant flooding have helped to ease bushfire conditions in some regions, but authorities have warned that the danger is “far from over.” Insured losses ... Read the full article
DARAG announces conclusion of loss portfolio transfer
20th January 2020
Legacy acquirer DARAG has concluded a loss portfolio transfer between DARAG Insurance Guernsey Limited and a multi-national Insurer with subject reserves in excess of $100 million. DIGL is providing economic and operational finality for the counter-party’s US General Liability book of business. TigerRisk served as advisors to both parties in concluding the ... Read the full article
Rate increase story to improve through 2020, says JMP Securities
20th January 2020
The relatively "unexciting" January 1st renewal season is a reflection of the mix of accounts and contracts up for renewal, and, as the reinsurance market moves through 2020, the rate increase story will improve, according to analysts at JMP Securities. Overall, analysts highlight a relatively flat property catastrophe reinsurance market at ... Read the full article
Liberty GTS launches contingent legal risk product
20th January 2020
Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, has announced the launch of a new contingent legal risk insurance product within its transactional risk portfolio. As part of the launch Aude Bonnemaison has been appointed as Liberty GTS’ first underwriter dedicated to the contingent legal risk product. She will report ... Read the full article
FM Global appoints Alonso as SVP, division manager of AFM
20th January 2020
Commercial property insurer FM Global has appointed Gerry L. Alonso as senior vice president, division manager of AFM. AFM specialises in insuring middle market clients and recently announced the appointment of James Galloway as an Executive Vice President tasked with overseeing the firm’s international operations. Alonso currently serves as FM Global’s ... Read the full article
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