Reinsurance News
Coronavirus to weigh on reinsurer profits & capital: Moody’s
7th April 2020
Analysts at Moody’s are expecting the coronavirus (COVID-19) pandemic to create unprecedented disruption in the global economy and to weigh heavily on reinsurers’ capital and profitability in the coming months. Although global reinsurers entered the year with solid capital levels, investment volatility, losses from pandemic exposure and specialty P&C lines, as ... Read the full article
Forced BI claims a concern, cancellation lines to suffer from COVID-19: Survey results
7th April 2020
As the COVID-19 coronavirus pandemic continues to unfold, Reinsurance News has collaborated with ILS focused sister-site Artemis to take the pulse of the global reinsurance market at this unprecedented and challenging time. The COVID-19 Market Survey includes responses from ... Read the full article
BMS Group adds Larry Broadnax as SVP, property fac leader
7th April 2020
Specialist re/insurance broker BMS Group has appointed Larry Broadnax as senior vice president, property facultative leader. Effective April 15, Broadnax will be based in Atlanta and report to Pete Chandler, president & Chief Executive Officer of BMS’s US reinsurance arm. He joins with over 40 years’ insurance experience, specializing in property facultative ... Read the full article
COVID-19 a significant test of life/health insurers ERM practices: A.M. Best
7th April 2020
Improved enterprise risk management (ERM) measures implemented by life / health (L&H) insurers in the aftermath of the 2008 financial crisis are expected to be put to the test by the global COVID-19 pandemic, according to A.M. Best. The ratings agency notes that the large majority, if not all life insurance ... Read the full article
SCOR names Emmanuel Joffre as Chief Human Resources Officer
7th April 2020
SCOR has announced the appointment of Emmanuel Joffre as Chief Human Resources Officer with immediate effect, reporting to Group Chief Operating Officer, Romain Launay. Based in Paris after a transition period in New York, he will be responsible for all aspects of the Group’s human resources. Joffre previously served as SCOR’s Head ... Read the full article
SSL Endeavour names Mike Reynolds CEO, David Lawrence Deputy Chair
7th April 2020
SSL Endeavour, the specialist independent Lloyd’s broker and delegated authority expert, has named Mike Reynolds, previously Chief Executive Officer (CEO) of JLT Re, as Group CEO, subject to FCA approval. At the same time, current Group CEO of SSL Endeavour, David Lawrence, has been appointed Group Deputy Chairman. Both appointments are ... Read the full article
Aston Lark appoints Stevenson as Associate Director, head of new office
7th April 2020
Chartered insurance broker Aston Lark has announced the appointment of Jim Stevenson as Associate Director and head of its new Cheltenham office. Stevenson joins after a 19-year career at Clarke Roxburgh, Jelf and Marsh Commercial where he was Regional Director in the South Midlands and South Wales leading offices in Worcester, ... Read the full article
LMG announces new market sponsor
7th April 2020
The London Market Group has announced that Kate Markham, Chief Executive Officer of Hiscox London Market, has taken over as the sponsor for the activities which promote the London Market. She replaces Richard Dudley, CEO of Aon Global Broking Centre UK who has recently taken over as Chair of Liiba. Andrew Horton, ... Read the full article
Ageas UK CEO Watson to depart, successor named
7th April 2020
Brussels-headquartered multinational insurer Ageas has announced that Andy Watson is set to step down from his role as Chief Executive Officer of Ageas UK and will be succeeded by Ant Middle. Watson has decided to step down from his role and embark on the next stage of his life, including further ... Read the full article
Cost of COVID-19 BI losses for small firms dwarfs annual premiums: APCIA
7th April 2020
Business continuity losses for small businesses as a result of the COVID-19 pandemic could reach between USD 255 billion and USD 431 billion per month, which is significantly higher than monthly commercial property insurance premiums, says David Sampson, President and Chief Executive Officer (CEO) of the American Property Casualty Insurance ... Read the full article
QBE names Jason Harris as CEO, International
7th April 2020
QBE Insurance Group has announced that Jason Harris will take over the role of Chief Executive Officer (CEO), International from Richard Pryce, who is set to retire at the end of the year. Harris joins QBE from AXA XL where he held the position of Chief Executive, Global Property and Casualty ... Read the full article
Analysts put Q1 cat losses below average at $5.0-6.5bn
7th April 2020
Analysts at Wells Fargo Securities have said that insured natural catastrophe losses are expected to be below average for the first quarter of 2020 at between $5.0 billion and $6.5 billion. This is well below the $10 billion historical average, with very few losses, if any, likely to hit reinsurer attachment ... Read the full article
AM Best turns negative on France, Italy & UK life markets
7th April 2020
AM Best has revised its outlook for the life insurance markets in France, Italy and the UK to negative, due to concerns about the financial and economic headwinds caused by the coronavirus (COVID-19) pandemic. In France, the rating agency noted that technical margins have already been under pressure for a number ... Read the full article
AXIS Re appoints TMR’s Mark Julian as Chief Pricing Actuary
7th April 2020
AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has announced that Mark Julian has joined from Tokio Millennium Re to serve in the newly created position of Chief Pricing Actuary, effective April 20th, 2020. In his new role, Julian will be responsible for the oversight of the reinsurer's new ... Read the full article
COVID-19 impacts to dent insurance brokers’ organic growth: Analysts
6th April 2020
The impacts of the COVID-19 pandemic on the global economy is expected to mitigate organic growth for insurance brokers, but firms cost saving initiatives and a hardening commercial lines market could offset some of the negative pressures, according to analysts at Wells Fargo Securities. It's going to be some time before ... Read the full article
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