Reinsurance News
Florida AoB reforms prompt homeowners discounts from Kin Insurance
5th December 2019
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced two new discounts for Florida homeowners, which it says were made possible by recent reforms to assignment of benefits (AoB) laws. The Responsible Repair Discount will offer an 18% discount on the water peril ... Read the full article
Guy Carpenter & Victor target enhanced US public entity offering
5th December 2019
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, has announced that Victor US, which is the US business of affiliate Victor, is to offer Guy Carpenter clients who are members of US public entity insurance pools with a range of property and casualty (P&C) solutions not traditionally offered ... Read the full article
Aston Lark set to acquire Wright Insurance Brokers in Ireland
5th December 2019
UK insurance brokerage Aston Lark has announced that it plans to acquire Wright Insurance Brokers, based in Ireland. Wright Insurance Brokers is a specialist in the commercial and transport sectors, with offices in Wexford and Carlow. The company was founded by insurance investors Tony and Breda Wright and employs over 150 across ... Read the full article
Kershaw to succeed Whelan as Lancashire CFO
5th December 2019
Lancashire Holdings Limited has announced that Natalie Kershaw will replace Elaine Whelan as Group Chief Financial Officer (CFO), effective March 1st, 2020. Currently the firm's Chief Accounting Officer, Kershaw brings almost two decades of insurance and reinsurance industry experience to the role. She has been with Lancashire since December 2009 and has ... Read the full article
Chubb’s Louise Joyce named Head of Industry Practices, UK&I
5th December 2019
Louise Joyce, previously Life Sciences Manager for the UK & Ireland (UK&I) at Chubb, has been appointed as the firm's Head of Industry Practices for the UK&I, effective immediately. Joyce, who succeeds Karen Strong after her departure from the re/insurer, will continue to be based in Birmingham and report to Mark ... Read the full article
Liberty Mutual names Ben Beauvais as head of construction division
5th December 2019
Liberty Mutual Insurance has announced the appointment of Ben Beauvais as Construction Executive, Distribution, for Global Risk Solutions (GRS). GRS is Liberty Mutual’s global commercial and specialty lines re/insurer, and provides a range of traditional insurance, specialty and reinsurance risk solutions. In his newly created position, Beauvais will be required to reach ... Read the full article
Munich Re backed Bestow confirms executive appointments
5th December 2019
Bestow, a Dallas, U.S. domiciled InsurTech company focused on the life insurance sector and which is backed by Munich American Reassurance Company as its reinsurer and in other capacities, has announced its executive team, to be led by co-founders Melbourne O'Banion and Jonathan Ablemann. In May of last year, Bestow ... Read the full article
Verisk acquires life insurance & annuity software company, FAST
5th December 2019
Verisk Analytics has announced that it has signed a definitive agreement to acquire FAST, a software firm for the life insurance and annuity sector, for a purchase price of $193.5 million. FAST, which stands for Flexible Architecture, Simplified Technology, offers a policy administration system that enables insurers to accelerate both underwriting ... Read the full article
LMA highlights unique strengths of non-payment insurance
5th December 2019
In its response to the European Commission's (EC) consultation on the implementation of the Basel III reforms, the Lloyd's Market Association (LMA) has said that banks' use of non-payment insurance should be recognised in regulatory capital calculations. In light of proposed changes to the Capital Requirement Regulation (CRR) and the Capital ... Read the full article
CAC Specialty forms new Professional Liability & Cyber Practice Group
5th December 2019
CAC Specialty has announced the launch of its new Professional Liability and Cyber Practice Group, which is to be led by Adam Lantrip as Senior Vice President (SVP). The newly-established Professional Liability and Cyber Practice Group is responsible for the design, placement, and ongoing service of complex professional liability, cyber, and ... Read the full article
Amanda Blanc joins Aviva as independent non-exec director
5th December 2019
UK insurer Aviva has announced the appointment of Amanda Blanc as an independent non-executive director. Blanc, who is due to step into the role on 2 January 2020, previously served as Chief Executive Officer at AXA UK & Ireland and CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. She has ... Read the full article
Arthur J. Gallagher acquires Blueleaf Consulting in Australia
5th December 2019
Arthur J. Gallagher & Co. has announced the acquisition of Blueleaf Consulting Pty Ltd., a financial advice practice based in North Sydney, New South Wales. Founded in 2006, Blueleaf Consulting offers wealth management, estate planning and business succession support to businesses and individuals across New South Wales. Following the takeover, Blueleaf Consulting’s ... Read the full article
Insurance Europe issues regulatory advice to EU policymakers
5th December 2019
Insurance Europe, the European insurance and reinsurance federation, has published a new paper advising policymakers in the European Union (EU) how to ensure re/insurance regulations work properly and benefit consumers. In the paper, Insurance Europe calls on policymakers to avoid continual regulatory changes by performing in-depth analysis to ensure that any ... Read the full article
Catalina to acquire Asia Capital Re, targets run-off growth in Asia
5th December 2019
Catalina Holdings, the Bermuda-headquartered non-life run-off and legacy insurance and reinsurance specialist, is set to acquire Asia Capital Reinsurance Group in a strategic move aiming for growth in Asia. The acquisition marks the first time Catalina has entered the Asian run-off market and the company aims to leverage the acquisition of ... Read the full article
Chubb Bermuda hires Michael Warwicker to lead Excess Liability
4th December 2019
Chubb Bermuda has announced that Michael J. Warwicker has joined the company as Senior Vice President, Head of Excess Liability. Warwicker has more than four decades of international and US insurance industry experience and has held executive casualty underwriting leadership positions at Endurance, Ironshore, and AIG. In his new role, Warwicker will ... Read the full article
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