Reinsurance News
MS Amlin announces partnership with insurtech Allphins
11th September 2020
MS Amlin Underwriting Limited has entered into a service agreement with insurtech data analytics platform Allphins to support its exposure management capabilities. The agreement will see MS Amlin’s marine and energy reinsurance division use the Allphins platform to digitalise existing exposure data and access its specialist datasets and analysis tools. The re/insurer ... Read the full article
Pro Global Holdings hires new Head of Data Management & Risk Modelling
11th September 2020
Re/insurance solutions provider, Pro Global Holdings Limited (Pro) has announced the appointment of Sue Barenbrug as its new Head of Data Management and Risk Modelling and to lead its CAI augmented intelligence project. The CAI platform has been developed in an effort to digitally transform the underwriting process, by cleansing data ... Read the full article
Liberty Mutual and SafeButler partner to offer instant renters insurance
11th September 2020
Liberty Mutual has partnered with insurance comparison site SafeButler to provide instant access to comprehensive renters insurance plans. Liberty Mutual's API has been integrated into SafeButler's website and will instantly return a guaranteed renters insurance quote that will remain valid for 30 days. The coverage and cost to the consumer are no ... Read the full article
Lloyd’s sticks by $107bn COVID-19 industry loss estimate
11th September 2020
Lloyd's of London has confirmed that it is sticking to the estimated loss of $107bn as a result of the COVID-19 pandemic. In a recent webinar hosted by John Neal, CEO of Lloyd's of London, he was asked if he could confirm this amount to be an accurate estimate. Neal commented: “The ... Read the full article
SCOR places €300m subordinated Tier 2 notes to support organic growth
11th September 2020
French reinsurance company SCOR has announced that it has successfully placed a dated subordinated Tier 2 notes issue amounting to €300 million (USD 355 million). SCOR says that the proceeds of the issuance will be used for general corporate purposes, with settlement expected to occur on September 17th, 2020. The coupon is ... Read the full article
Utilising new tech key for life insurers post COVID-19: Moody’s
11th September 2020
Analysts at Moody’s Investors Service believe it will be the technologically advanced life insurers that will likely come out of the COVID-19 pandemic on top in terms of sales, revenue, and profit growth. Moody’s Vice President Laura Bazer says those with rigid product and business models could end up falling behind ... Read the full article
PIC completes £3.5bn of bulk annuity deals in H1
11th September 2020
Pension Insurance Corporation Group Limited (PICG), the parent company of specialist insurer Pension Insurance Corporation plc (PIC), completed £3.5 billion of bulk annuity deals in the first half of 2020. The firm also completed £47.7 billion in financial investments, compared to £40.9 billion across the whole of 2019. Reinsurance transactions covered £3.9 billion ... Read the full article
MS Amlin hires Claims Binder Manager for European Marine team
11th September 2020
Re/insurer MS Amlin has announced the appointment of Wilfred Jansen as the new Claims Binder Manager for its European Marine team. Jansen will be the first contact for their coverholders for on boarding and renewals where he brings a wealth of experience from a coverholder perspective. Prior to joining MS Amlin, Jansen ... Read the full article
Chubb appoints Diego Sosa as Regional President for Far East
11th September 2020
Chubb Limited has announced that Diego Sosa has been named Regional President for the Far East. Sosa is currently serving as Chief Operating Officer for Chubb in Brazil but will have full overall responsibility for the management and business results of Chubb's general insurance operations in Japan. Sosa will be succeeding Read the full article
Supply chain restructuring to generate $63bn in premiums: Swiss Re
10th September 2020
Swiss Re believes that supply chain restructuring resulting from the COVID-19 pandemic could drive new demand for insurance protections, and estimates that additional global premium volumes of around $63 billion could be generated over the next five years. The latest Swiss Re Institute sigma study explores the idea that global supply ... Read the full article
Marsh’s Dean Klisura named President of Guy Carpenter
10th September 2020
Guy Carpenter, the reinsurance arm of global brokerage Marsh, has appointed Dean Klisura as its new President, effective October 1st, 2020. Klisura will report to Guy Carpenter's Chief Executive Officer (CEO), Peter Hearn, and will continue to be based in New York. In this newly-created role, he takes responsibility for Guy Carpenter's ... Read the full article
FedNat to tap reinsurance cover for Hurricane Laura losses
10th September 2020
Florida based primary insurer FedNat is expecting to tap into its reinsurance coverage to pay claims resulting from Hurricane Laura, which are likely to exceed its single-event retention of $25 million. FedNat will bear approximately $19 million of this retention, after accounting for the quota-share treaty that it has in place ... Read the full article
Brit names Mark Allan as CEO of Ki
10th September 2020
Global specialty re/insurer Brit has announced the appointment of Mark Allan as CEO of Ki, its fully digital and algorithmically-driven Lloyd’s of London syndicate, launched in collaboration with Google Cloud. Allan has served as Brit Group CFO and Brit Limited Group Executive Director since 2015, following roles as CRO and Director ... Read the full article
Billions at stake ahead of FCA court ruling: Deutsche Bank
10th September 2020
Commentary from Deutsche Bank highlights that billions of pounds in potential insurance claims are at stake ahead of the imminent court judgement on the FCA’s business interruption (BI) case. The re/insurance industry is anxiously awaiting a verdict from the UK courts in the coming days about whether insurers will ultimately ... Read the full article
AIG appoints StarStone’s Chris Rash as CEO of Talbot
10th September 2020
Chris Rash, most recently the interim Group Chief Executive Officer (CEO) of StarStone Group, has been named as the new CEO of global re/insurer AIG's Talbot Underwriting Ltd, which operates in the Lloyd's marketplace through Syndicate 1183. At the same time, Rash has been appointed to the Talbot Underwriting Board and ... Read the full article
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