Reinsurance News
Fortitude Re sale incrementally positive for AIG, AM Best says
28th November 2019
Global insurer AIG’s Long-Term Issuer Credit Rating of “bbb”, as well as the Financial Strength Ratings and the Long-Term ICRs of its operating subsidiaries, remain unchanged by AM Best following the decision to offload Fortitude Re in a transaction the ratings agency describes as incrementally positive for the group. AIG ... Read the full article
Climate risk among top concerns for airports: Willis Towers Watson
28th November 2019
Re/insurance broker Willis Towers Watson has highlighted climate risk as among the top risks currently faced by airports. As part of a recent conference held by the Willis Towers Watson Airport Risk Community (ARC), the broker found that 86% of the audience felt that airports are either very exposed or somewhat ... Read the full article
The Hartford enhances Internet of Things Innovation Lab
28th November 2019
Property and casualty insurer The Hartford has expanded its Internet of Things (IoT) Innovation lab and capabilities to improve workplace safety and help reduce property damage. The company utilises network-connected devices in businesses and homes to reduce and mitigate hazards such as unsafe working conditions or water damage from broken pipes. For ... Read the full article
Hiscox expands partnership with insurtech INSTANDA
28th November 2019
Specialist re/insurer Hiscox has expanded its partnership with INSTANDA, the cloud-based digital insurance platform. This enhanced partnership is designed to build critical distribution through the deployment of the INSTANDA platform and has been extended to manage both direct-to-consumer and broker products in four countries. This announcement follows the successful launch of Hiscox’s ... Read the full article
AJG agrees terms to take 100% ownership of Capsicum Re
27th November 2019
Arthur J. Gallagher & Co. (AJG) has announced that it has agreed heads of terms to pursue the necessary transaction to take 100% ownership of reinsurance specialist brokerage Capsicum Re. The transaction has been in the offing, as time was running out on an option that AJG had to expand its ... Read the full article
Fitch revises London market outlook to stable, cites pricing & Lloyd’s
27th November 2019
Fitch Ratings has revised its 2020 outlook for the London market to stable from negative amid the improved pricing landscape and the market-wide profitability review initiated by Lloyd's of London. Overall, there is an improved pricing environment in the London marketplace, which Fitch expects to result in better underwriting results going ... Read the full article
Munich Re makes key Business Development hire for Australia & NZ
27th November 2019
Munich Re has announced the appointment of Alex François as Head of Business Development for its savings and investment business in Australia and New Zealand. Based in Sydney, François will focus on bringing reinsurance capabilities to insurance and superannuation clients in the Australian and New Zealand market. He will also be responsible ... Read the full article
Gard’s Magne Nilssen named London CUO
27th November 2019
Gard, a shipowner-controlled provider of P&I, marine and energy insurance solutions, has announced the appointment of Magne Nilssen as Chief Underwriting Officer (CUO) London, effective March 1st, 2020. In this newly created position, Nilssen will be responsible for all business routed through the firm's London branch, and will report to Group ... Read the full article
CFC’s cyber risk heat map looks to assist brokers
27th November 2019
Specialist insurer CFC has announced the launch of a free tool designed to help brokers sell cyber insurance. The new cyber risk heat map has been built from data that relates to 2,500 cyber claims that CFC has dealt with over the past 24 months, as well as trends that the ... Read the full article
Munich Re appoints Nicolas Carro to L&H CEO role
27th November 2019
Global reinsurer Munich Re has appointed Nicolas Carro as Chief Executive Officer for its Life and Health business and operations in Australia and New Zealand. Effective in the new year, Carro will be based in Sydney and report to Daniel Cossette, CEO for Munich Re Life & Health in Asia Pacific, ... Read the full article
US P&C reinsurers return to underwriting profitability: RAA
27th November 2019
A group of 17 U.S. property/casualty (P&C) reinsurers recorded an improved combined ratio of 96.2% for the first nine months of 2019, driven by improvements in both the expense ratio and loss ratio when compared with the same period in 2018, according to analysis by the Reinsurance Association of America ... Read the full article
AXA XL acquires Lloyd’s coverholder Secure Legal Title & Mexican affiliate
27th November 2019
AXA XL, the property and casualty (P&C) and specialty risk unit of AXA, has announced the acquisition of London-based insurance agency and Lloyd's of London coverholder, Secure Legal Title Limited. Secure Legal Title was founded in 2012 and provides protection to cover legal risks in property transactions and mortgage finance, with ... Read the full article
Lockton bolsters LatAm presence with exec hires
27th November 2019
Global insurance and reinsurance broker Lockton has added Andrew Perry and Ed Fyfe as senior Latin America executives, while also promoting Marcela Flores to form a new Lockton regional LatAm executive with effect from 1 May 2020. Perry joins from Marsh, having held various senior appointments including Chief Executive Officer of ... Read the full article
AXA throws weight behind 0% coal energy world
27th November 2019
Global insurer AXA has laid down a series of targets designed to accelerate its contribution to the transition towards a low-carbon economy. The enhanced strategy, due to be announced tomorrow at an event organised in collaboration with the United Nations Principles for Sustainable Insurance (UN PSI), includes doubling its green investment ... Read the full article
MS Amlin CEO to depart as re/insurer announces new operating model
27th November 2019
Insurer and reinsurer MS Amlin has today announced the details of a new operating model and senior leadership team as part of MS&AD's recently announced reorganisation of its international business. As announced previously, the reorganisation of the firm's international business includes the removal of the regional holding companies across Mitsui ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
