Reinsurance News
UIB adds Miles Taffs to Aviation & Space team
27th February 2020
International re/insurance broker UIB has announced the appointment of Miles Taffs as Deputy Managing Director of its Aviation & Space team. He joins on March 16 and will report directly Craig Fisher, UIB’s Managing Director of Aviation and a Board Director of UIBL. Taffs has more than 30 years of experience in ... Read the full article
Chubb promotes Dawn Miller to country president, Switzerland
27th February 2020
Global insurer Chubb has announced the promotion of Dawn Miller to the role of country president, Switzerland. Effective March 1, Miller will be responsible for establishing and growing Chubb’s insurance business in Switzerland. She will be based in Zurich and succeeds Florian Eisele following his appointment as senior vice president director of ... Read the full article
Enstar’s Sandra Boss to depart board of directors
27th February 2020
Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has announced the departure of Sandra Boss from its board of directors. Effective April 1, Boss will vacate her position to pursue a full-time executive role with another company. Boss has been a director of Enstar since 2015, serves as chair of ... Read the full article
Thomas Miller Americas CEO Mike Jarrett retires
27th February 2020
Global insurance provider Thomas Miller has announced the retirement of Mike Jarrett, president and Chief Executive officer of Thomas Miller Americas. Jarrett had been with the company for 40 years and has been succeeded by Leo Kirchner. Kirchner has spent 25 years with the firm and most recently served as regional director ... Read the full article
Gen Re names new L&H International leaders as Heinen retires
27th February 2020
Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, has announced that Winfried Heinen, its long-standing Head of Life and Health International business, has decided to retire on July 31, 2020. Heinen joined the company in 1988 and currently serves as Chairman of the Executive Board of General Reinsurance AG, Gen ... Read the full article
RSA announces record current year underwriting profit
27th February 2020
RSA Insurance Group has announced a current year underwriting profit of £314 million for 2019, representing growth of £229 million when compared with the prior-year while the total group underwriting result increased by almost 39% to £346 million. Excluding exit portfolios, RSA's underwriting profit reached £405 million in 2019, while the ... Read the full article
Talcott announces leadership reshuffle
27th February 2020
Life and annuity insurer Talcott Resolution Life has announced a series of leadership appointments aimed at driving growth. Peter Manley will join the company as head of Corporate Development and Strategy and will be responsible for overseeing the development and execution of the company’s growth strategy. He brings over 20 years’ experience ... Read the full article
Argo Group and subsidiaries’ ratings downgraded by A.M. Best
27th February 2020
Global financial services ratings agency A.M. Best has removed from under review with negative implications and downgraded the credit ratings of Argo Group International Holdings, Ltd. and its subsidiaries. Specifically, the ratings agency has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A- (Excellent) ... Read the full article
FedNat posts 122.1% combined ratio off adverse development
27th February 2020
Florida-based primary insurer FedNat Holding Company has reported a fourth-quarter combined ratio of 122.1%, up 3.8 points from the prior year quarter and representing 4.7 points of net catastrophe losses, 12.6 points of adverse development and 5.3 points from current accident year reserve strengthening. FedNat had previously warned that it ... Read the full article
AEGIS London recruits Head of HR from CNA Hardy
27th February 2020
Lloyd’s of London managing agency AEGIS London has announced the appointment of Claire Parkinson as Head of HR. Parkinson was formerly Director and HR Business Partner at CNA Hardy, where she has worked since May 2017. Prior to that, she worked in a number of HR roles across the UK and internationally ... Read the full article
Concentration of rising prices limits positive influence on profits: Moody’s
27th February 2020
Analysts at Moody's have said that the outcome of the January 1st, 2020 reinsurance renewals are in line with expectations, and, has noted that the concentration of price hikes is limiting any positive impact on profitability for market players. Financial services ratings agency, Moody's is the latest to comment on the ... Read the full article
Skuld achieves 4.6% growth in 2020 P&I renewals
27th February 2020
Marine insurer Skuld has achieved a 4.6% net increase in mutual P&I tonnage from 2019 to 2020, following the renewals that completed on February 20th. Skuld’s continued growth at the renewals brings its mutual P&I tonnage to 95.3 million gross tonnes (GT). In addition to the mutual P&I business, growth was also ... Read the full article
SCOR posts higher income but nat cats hit P&C result
27th February 2020
French reinsurer SCOR has reported a rise in net income for the full year 2019 to €422 million and a net combined ratio of 99%. However, a high level of natural catastrophe activity pushed its Global P&C segment to an underwriting loss in the fourth-quarter. Overall, Group net income increased by ... Read the full article
AXIS Co-Founder & Chairman Michael Butt to step down, successor named
26th February 2020
Bermuda-based insurer and reinsurer AXIS Capital Holdings Limited has announced that co-founder and Chairman of the Board of Directors, Michael Butt, OBE, is to retire from the company and be succeeded by Henry B. Smith, effective September 16th, 2020. Butt is a recognised industry leader who played an important role in ... Read the full article
IGI obtains final approvals for go-public Tiberius deal
26th February 2020
International General Insurance Holdings (IGI), the specialist commercial re/insurer, has obtained the final regulatory approvals it needs to move ahead with its planned business combination with Tiberius Acquisition Corp., which will result in the public listing of IGI. UK regulators the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) ... Read the full article
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