Reinsurance News
Gallagher acquires 60% stake in Caribbean broker, RMS
13th January 2020
Global insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co., has announced the acquisition of a 60% share in Risk Management Services Limited (RMS), a Caribbean insurance brokerage. RMS is located in the Port of Spain, Trinidad and Tobago, and is one of the country's top three ... Read the full article
Zurich & Blue Zebra to end underwriting arrangement
13th January 2020
Zurich Australian Insurance Ltd, a division of global insurer Zurich, has announced the end of its underwriting agency agreement with Blue Zebra Insurance Pty Ltd. The agreement was entered into in February 2018, designed to offer a digitally enabled, end-to-end personal lines insurance platform via brokers in the Australian marketplace. It had ... Read the full article
Hiscox targets systemic cyber risk with CyberCube agreement
13th January 2020
Hiscox has entered into an agreement with cyber risk analytics firm, CyberCube, to leverage CyberCube’s Portfolio Management solution in order to produce better insight into potential systemic cyber risk. The agreement provides Hiscox with access to CyberCube’s technology, which will stress test the specialist re/insurer’s book of global commercial insurance business ... Read the full article
QIC names new group CEO
13th January 2020
Qatar Insurance Group has announced the appointment of Salem Khalaf Al Mannai as its Chief Executive Officer. Mannai has occupied a number of key positions within the group since joining its retail department in 2001. He most recently served as the group’s deputy president & CEO and before that held the role ... Read the full article
Former RSA CEO Steve Lewis to lead Pro Global
13th January 2020
Re/insurance consultancy firm Pro Global Insurance Solutions has appointed Steve Lewis as its Chief Executive Officer, effective February 1. Lewis most recently served as UK and International CEO at Multinational insurance group RSA and has previously worked as UKGI CEO at Zurich. Andrew Donnelly, who stepped in for an interim period following ... Read the full article
AJ Gallagher takes 100% ownership of Capsicum Re
13th January 2020
Arthur J. Gallagher & Co. has announced that it has increased its interest in Capsicum Reinsurance Brokers LLP to 100% from the previous 33%, effective January 1st, 2020. Grahame Chilton and Rupert Swallow founded Capsicum Re in December 2013 through a strategic partnership with Gallagher. Since then, the firm has grown ... Read the full article
Swiss Re’s Susan Burke joins Liberty Mutual Re
13th January 2020
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Susan Burke to the role of vice president and director of assumed reinsurance within its casualty treaty department. Based in Stamford, Connecticut she will report to Thomas Greene, head of US casualty for LM Re. Burke will be responsible ... Read the full article
Ken Randall to depart R&Q, William Spiegel named successor
13th January 2020
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced that William Spiegel will assume the position of Executive Group Chairman when the firm's co-founder, Ken Randall, steps down in roughly 12 months. Effective immediately, Spiegel has been appointed as Executive Director and Deputy Group Chairman, which forms part of R&Q's management ... Read the full article
Insurtech Corvus secures $32mn in venture funding
13th January 2020
Boston-based insurtech firm Corvus has secured $32 million in a Series B round of venture funding, led by Telstra Ventures. As part of the funding arrangement, Marcus Bartram, Partner at Telstra Ventures, will now join Corvus's Board of Directors. The funding round also included participation from Obvious Ventures and existing Corvus investors ... Read the full article
Liberty Mutual’s Helmsman completes purchase of Eberle Vivian
13th January 2020
Helmsman Management Services (HMS), the third-party administrator wholly owned by Liberty Mutual, has completed its previously announced acquisition of Eberle Vivian Inc. Eberle Vivian is a third-party administrator (TPA) serving the Pacific Northwest region in the US. “The acquisition – and the continuation of the strong Eberle Vivian brand as an operating ... Read the full article
United grows all other perils catastrophe reinsurance at renewal
10th January 2020
United Insurance Holdings Corp. (UPC Insurance) has announced the successful renewal of its reinsurance arrangements for 2020, through its wholly owned insurance subsidiaries American Coastal Insurance Company, United Property and Casualty Insurance Company, Family Security Insurance Company, and Interboro Insurance Company. Specifically, UPC Insurance has renewed its aggregate excess of loss ... Read the full article
Symetra Financial unit to manage US investments for Sumitomo Life
10th January 2020
Symetra Financial Corporation has established a new investment subsidiary that will help the company’s parent, Sumitomo Life Insurance Company, to invest in US-based assets. The new unit, called Symetra Investment Management Company (SIM), will enable Sumitomo to build on its first investment of $500 million, which was made via a corporate ... Read the full article
Canada’s Intact Financial takes $115mn of cat losses in Q4
10th January 2020
Canadian property and casualty (P&C) insurer Intact Financial Corporation incurred an estimated CA $115 million (US $88 million) of catastrophe losses during the fourth quarter of 2019, pre-tax. The company revealed that it’s losses were concentrated in Canadian property lines, with impacts of approximately $54 million and $48 million pre-tax in ... Read the full article
Brown & Brown completes takeover of Canada MGA Special Risk
10th January 2020
Insurance brokerage firm Brown & Brown, Inc. has completed its acquisition of Canada domiciled managing general agent (MGA), Special Risk Insurance Managers, Ltd. First announced last month, Brown & Brown said that the acquisition is an important step towards its establishment of a presence in the Canadian insurance brokerage sector. Going ... Read the full article
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
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