Reinsurance News
Arch promotes Chris Hovey to COO
15th January 2020
Arch Capital Group Ltd. has announced that Chris Hovey, previously Executive Vice President (EVP), Chief Information Officer (CIO) at Arch Capital Services Inc., has been promoted to Chief Operations Officer (COO), Arch. Hovey has been with Arch since January 2014, initially serving as COO of Arch Mortgage Insurance Company through to ... Read the full article
Fathom collab opens US flood model to public
15th January 2020
UK-based flood risk modeller Fathom has announced its participation in a US partnership that will open flood mapping and coastal risk data analysis to the public. Fathom joined US Non-Profit organisation First Street Foundation to produce a comprehensive flood and coastal risk analysis of the US. The data will be used to ... Read the full article
Lars Forsstedt rejoins Aon’s Nordic M&A team
15th January 2020
Global insurance and reinsurance brokerage Aon has announced that Lars Forsstedt has re-joined its Nordic team from Willis Towers Watson (WTW). Forsstedt has been appointed to Aon's Nordic M&A and Transaction Solutions team, joining from WTW where from October 2017 he served as Practice Leader, Private Equity - Nordics. He first joined ... Read the full article
Chubb makes changes to European leadership team
15th January 2020
Insurer and reinsurer Chubb has announced a number of changes within its European leadership team, including the appointment of Nadia Côté as Head of Major Accounts Division for Europe, succeeding Suresh Krishnan. Krishnan takes on the role as Chief Operating Officer (COO) of Chubb North America Accident and Health. In his new ... Read the full article
S&P remains stable on US P&C insurance
15th January 2020
Rating agency S&P has maintained its stable outlook on the US property and casualty (P&C) sector going into 2020, with strong capitalisation and pricing momentum offset by weakening reserves and concerns around loss emergence. Capital in the P&C industry keeps reaching record highs, with analysts estimating that US insurers had a ... Read the full article
Ed Bermuda names Colin Kelley as Head of Liability Division
15th January 2020
Global reinsurance brokerage Ed has announced the appointment of Colin Kelley as Head of its new Liability Division in Bermuda. Effective immediately, he will lead the professional lines, casualty and healthcare teams for Ed Bermuda. Kelley joins Ed from Sompo International, where he has held the role of Commercial Lines Practice Leader, ... Read the full article
AXA Hong Kong launches chronic disease management service
15th January 2020
The Hong Kong division of global re/insurer AXA has launched a new program designed to provide mitigation and treatment services for chronic diseases. ‘AXA Chronic Disease Management Programme' collaborates with CUHK Medical Clinic, Hong Kong Diabetes Specialist Centre, HKSH Medical Group and Virtus Medical Group. A registered medical practitioner will be assigned ... Read the full article
One80 Intermediaries acquires Vista Underwriting Partners
15th January 2020
Boston-based national wholesale insurance broker and program manager, One80 Intermediaries, has acquired Vista Underwriting Partners, a full service managing general underwriter of medical stop loss insurance. Vista is headquartered in Media, Pennsylvania, and was established in 2007 as a specialty underwriter of medical stop loss insurance coverage for corporate clients and ... Read the full article
Asta to support BPBUW, equestrian underwriter David Ashby
15th January 2020
Lloyd's third party managing agent Asta has agreed to provide its MGA platform and operational services to newly-formed underwriting agency BPBUW Management. BPBUW said that it hopes to build out a number of specialist niche MGA subsidiaries, with the key underwriters in each holding an equity stake in their own ... Read the full article
Weston Insurance to acquire Anchor P&C subsidiary
15th January 2020
Specialty insurer, Weston Insurance Holdings Corporation, is set to acquire Anchor Specialty Insurance Company, a subsidiary of Anchor Property & Casualty Insurance Company. In light of the impending acquisition, financial analysis firm Demotech has announced that the Financial Stability Rating (FSR) of A, Exceptional, assigned to Anchor Specialty is being sustained. Demotech's ... Read the full article
Korean Re sets up second branch in China
15th January 2020
Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has continued to accelerate its overseas expansion with the establishment of a branch in Shanghai. The new office is the second location in China for Korean Re, which previously set up operations in Beijing in 1997. The reinsurer explained that the new branch would ... Read the full article
Chubb, Grab launches app-based travel insurance product
15th January 2020
Global insurer Chubb has partnered with Southeast Asian ride-hailing firm Grab on an app-based travel insurance product available for customers in Singapore. ‘Travel Cover’ allows Singapore-based customers to purchase cover from S$2.50 per day for travel to any destination globally. The product is distributed by GrabInsure Insurance Agency, Grab Financial Group’s insurance ... Read the full article
Chubb puts Q4 cat losses at $430mn
15th January 2020
Global insurer and reinsurer Chubb has announced net catastrophe losses of an estimated $430 million pre-tax ($353 million after-tax) for the fourth-quarter of 2019, net of reinsurance. Chubb states that the losses are primarily a result of severe, global weather-related events, including tornadoes in Texas, the California wildfires, and also typhoon ... Read the full article
Against its peers, Hannover Re is the main beneficiary from P&C rate rises: MS
15th January 2020
Analysis of Europe's big four reinsurers by Morgan Stanley (MS) states that when compared with its peers, German reinsurance giant Hannover Re is the main beneficiary from improving property and casualty (P&C) rates. In a recent industry report, analysts at Morgan Stanley discuss the current rate environment following the January 1st ... Read the full article
R&Q’s Joint CEO Roger Sellek resigns
15th January 2020
Changes at the top continue at non-life legacy and run-off investor and capacity provider to program business Randall & Quilter Investment Holdings Ltd. (R&Q), with one of its Joint CEO's resigning and set to depart immediately. The company said this morning that Roger Sellek has resigned from his position at R&Q ... Read the full article
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