Reinsurance News
QOMPLX secures 12 US tech patents in 2019
10th January 2020
QOMPLX, an intelligent decision platform provider startup formerly known as Fractal, has announced that it was awarded 12 US patents for innovations in 2019. The patents, which span cybersecurity, insurance, finance and data infrastructure, allow QOMPLX a 20-year period of exclusivity to the technologies. The most recent patent, issued on December 24, ... Read the full article
Helix launches in Bermuda, secures first agency agreement with QBE
10th January 2020
Helix Underwriting Partners Ltd., the first multi-line independent Managing General Agent in Bermuda, has announced the receipt of all necessary approvals to begin operations. At the same time, the company has announced that it has entered into its first agency agreement to underwrite Middle Market Property Insurance on behalf of insurer ... Read the full article
NI holdings completes acquisition of Westminster American Insurance
10th January 2020
Insurance holding company NI Holdings, Inc. has completed its previously announced acquisition of Westminster American Insurance Company from private shareholders for $40 million. NI Holdings believes the acquisition will further diversify its portfolio of products both geographically and line, as additional commercial multi-peril business is introduced into the business mix. Westminster is ... Read the full article
Sarah Stephens named Head of Cyber, International at Marsh JLT Specialty
10th January 2020
Global re/insurance brokerage Marsh has announced the appointment of Sarah Stephens as Head of Cyber, International, within Marsh JLT Specialty, effective immediately. Stephens will serve in this newly created role in addition to her current position as Cyber, Media & Technology Leader within the UK FINPRO Practice. She will take responsibility for ... Read the full article
Hub International acquires RHC Insurance Brokers
10th January 2020
Global insurance brokerage Hub International has acquired Canada-based RHC Insurance Brokers. Terms of the transaction were not disclosed. RHC is an independent insurance brokerage spread throughout British Columbia that provides personal and business insurance. Tammy Darough, Chief Executive Officer and Chief Financial Officer of RHC, will assist Hub International Insurance Brokers, a ... Read the full article
Marsh enhances commercial real estate program
10th January 2020
Global re/insurance brokerage Marsh has added several coverage enhancements to its ZMAX commercial real estate insurance program, including cyber liability. Marsh said that the enhancements were designed to address potential gaps in insurance coverage faced by US mid-size commercial real estate firms. ZMAX plus is a single-carrier solutions that aims to help ... Read the full article
CFC announces new cyber excess policy
10th January 2020
Specialist insurer CFC has announced the release of its new cyber excess solution, which gives small and medium sized businesses access to up to $10 million of excess cyber capacity. Offered globally and built for organisations with up to $1 billion in revenue, the policy also provides an automatic reinstatement of ... Read the full article
Liberty Specialty Markets promotes Meghan Walker to Head of Aviation
10th January 2020
Liberty Specialty Markets (LSM), a division of Liberty Mutual Insurance Group, has announced the appointment of Meghan Walker as Head of Aviation for the London Market Specialty division. In this role, Walker will be responsible for delivering LSM’s global Aviation strategy, and for leading and developing aviation underwriting team. Meanwhile, Bill Halligan, ... Read the full article
Insurtech start-up fund Brewer Lane Ventures launches
10th January 2020
Brewer Lane Ventures, a fund focused on investing in insurtech start-ups, has announced its launch, and the appointment of key members of its team. The company was founded by John Kim, the former President and Chief Investment Officer at New York Life Insurance Company. Also joining Brewer Lane Ventures is Managing Partner ... Read the full article
Insured bushfire losses jump to $645mn in Australia
10th January 2020
Re/insurance industry losses from the catastrophic bushfires still burning through southeastern Australia continue to increase, with the Insurance Council of Australia (ICA) now estimating total insured losses at US $645 million (AU $939 million). The new figure represents a jump of 33% compared with the ICA’s previous loss estimate on ... Read the full article
A disciplined renewals despite market challenges, says Aon
10th January 2020
Global insurance and reinsurance broker Aon has said that in spite of new market dynamics, programs renewed in an orderly fashion at the January 2020 reinsurance renewals season. Aon's January 2020 Reinsurance Market Outlook report highlights an orderly renewals season in most regions, adding that this occurred despite the impacts of ... Read the full article
Downstream continues to lead hardening energy market: Marsh JLT Specialty
10th January 2020
Downstream continues to see the largest rate increases in an overall hardening energy re/insurance market, according to Marsh JLT specialty, although there are signs that the upstream sector could soon step up a gear. Analysts noted that market correction efforts accelerated relentlessly for downstream energy across all regions in the fourth ... Read the full article
New Dawn Risk recruits Head of Management Liability & Financial Institutions
10th January 2020
New Dawn Risk Group Limited, an independent specialist intermediary for non-marine liability and specialty insurance and reinsurance, has announced the appointment of Nicky Stokes as Head of Management Liability and Financial Institutions. Stokes joins the company from Liberty Specialty Markets in Dubai, where she was AVP, Professional Indemnity. In this role, she ... Read the full article
Dale launches accident & health underwriting offering
10th January 2020
Dale Underwriting Partners has launched its new accident and health (A&H) offering with the appointments of Steve Lawson and Lauren Meredith. Lawson and Meredith, who both join Dale from HDI Specialty, will comprise the new A&H underwriting team. Together, the two new hires bring 45 years of experience in underwriting A&H business. The ... Read the full article
Charles Taylor Adjusting names P&C Asia CEO
10th January 2020
Charles Taylor Adjusting (CTA), a division of insurance-related services provider Charles Taylor, has named Wee Loon Yong as Chief Executive Officer (CEO) Asia, Property & Casualty, based in Singapore. The firm states that the appointment of Yong underlines the significant growth opportunities in Asia and the company's commitment to serve its ... Read the full article
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