Reinsurance News
Generali announces distribution agreement in Argentina with Mercado Libre
4th December 2019
Italian insurance giant Generali, via its Argentinian subsidiary La Caja, has entered into a new distribution agreement with large South American e-commerce operator, Mercado Libre. The agreement sees Generali distribute motor and home policies through Mercado Libre's digital portal, enabling Mercado Libre's customers to be able to prepare quotes and underwrite ... Read the full article
Austral Re & Terra Brasis commence operations after merger
4th December 2019
Brazilian reinsurance companies Austral Re and Terra Brasis have commenced their operations as a combined entity following a merger between the two firms. The new company, whose brand is still under development, has offices in Rio de Janeiro, Sao Paulo and Bogota. Austral Re and Terra Brasis claim that the combined ... Read the full article
Chubb may look to acquisitions after €1.4bn senior notes offering
4th December 2019
Global insurance and reinsurance company Chubb Limited has announced the pricing of a €1.4 billion senior notes offering, the proceeds of which could be used to fund future acquisitions. The offering will consist of €700 million of 0.30% senior notes due 2024 and €700 million of 0.875% senior notes due 2029. The ... Read the full article
Reinsurers pushing higher life premiums for vapers, reports claim
4th December 2019
Global reinsurers are increasingly pressuring their US primary life insurer clients to charge higher premium rates for people who use e-cigarettes, according to reports from Reuters. People that vape or smoke have both typically had to pay almost double the premiums of non-vapers or non-smokers. However, new warnings issued by major reinsurance ... Read the full article
QBE North America promotes Mark Pasko to Chief Legal Officer
4th December 2019
The North American operations of global primary re/insurance group QBE has promoted Mark Pasko to the role of Chief Legal Officer. Pasko, whose appointment is effective immediately, most recently served as senior vice president and general counsel, Business Unit Support. He will report jointy to Todd Jones, QBE North America Chief Executive ... Read the full article
Marsh names Anita Sathe global head of Bluestream platform
4th December 2019
Global re/insurance brokerage Marsh has appointed Anita Sathe global leader of its cloud-based digital broker platform Bluestream, as well as leader of its US Affinity business. Sathe is based in Portland, Oregon and will report to Kevin Tobin, president of Marsh’s Insurance Services Group. She brings over 15 years’ experience to the ... Read the full article
Burns & Wilcox hires John Woods to lead Transportation practice group
4th December 2019
Burns & Wilcox, the North American wholesale insurance broker and underwriting manager, has announced the appointment of John Woods as Vice President, National Practice Group Leader, Transportation. Woods has spent more than 25 years leading transportation-focused teams at insurers such as Reliance, W.R. Berkley and its member companies, National Interstate and ... Read the full article
Fitch turns negative on French & German life insurance
4th December 2019
Fitch Ratings has revised its sector outlooks for French and German life insurance from stable to negative, citing the impact of ultra-low interest rates on capital, earnings, and business models. Ratings for most insurers still remain stable, however, due to strong capital positions and ongoing efforts to reduce sensitivity to interest ... Read the full article
Hyperion X opts for Reltio Cloud to enhance data capabilities
4th December 2019
Hyperion X, the data and technology focused unit of the global Hyperion Insurance Group, has selected software as a service (SaaS) provider Reltio Cloud as the core client data platform to power its data and analytics capabilities. The company believes Reltio Cloud will enable it to better personalise product and service ... Read the full article
SCOR renews €300mn catastrophe & mortality contingent capital facility
4th December 2019
Global reinsurance giant SCOR has announced the launch of a new three-year, €300 million contingent capital facility, providing the firm with protection against extreme natural catastrophes or life events impacting mortality. The facility takes the form of a contingent equity line, and is the fourth launched by SCOR, replacing as of ... Read the full article
UnitedHealth & AXA remain world’s largest insurers by NPW
3rd December 2019
Three Japanese insurers have dropped out of the list of the world's 25 largest insurance companies by net premiums written (NPW) in 2018, while UnitedHealth Group Incorporated and AXA remain in the top spots. With NPW of more than $178 billion, in 2018, the world's largest insurance company ... Read the full article
Italian insurance industry outlook held at stable by Moody’s
3rd December 2019
Moody’s Investors Service has maintained its stable outlook for the Italian insurance industry amid a moderate premium growth in property and casualty and a favourable shift in the business mix for life insurers. Underwriting profitability for P&C remains strong, notes Moody’s, driven in part by a recovery in premium growth and ... Read the full article
Gallagher adds pacific northwest marine team, book
3rd December 2019
Global insurance brokerage Arthur J. Gallagher & Co has completed a transaction to acquire Brown & Brown Washington's pacific northwest marine business team and associated marine book of business. Led by Graham Gardner, the brokerage team handles all lines of marine insurance for a number of maritime clients globally. Under the direction ... Read the full article
Fednat completes takeover of 1347’s insurance operations
3rd December 2019
Florida-based FedNat Holding Company has successfully completed its acquisition of the homeowners insurance operations 1347 Property Insurance Holdings, Inc. (1347 PIH) for $51 million. The deal, first announced in February 2019, sees FedNat take over Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC (collectively Maison). Maison is a property and ... Read the full article
R&Q’s Langridge to step down from Director role
3rd December 2019
Non-life legacy and run-off acquisition and management, programme services and investments specialist, Randall & Quilter Investment Holdings Ltd., has revealed that Mark Langridge is to step down as a Director of the Company, effective 13th December 2019. The firm explains that Langridge will continue to serve in an executive role advising ... Read the full article
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