Reinsurance News
Renewable energy firms increasingly looking at non-damage cyber cover: GCube
20th July 2020
GCube Insurance, a provider of insurance services for renewable energy projects, is seeing heightened demand for its non-damage cyber risk insurance product amid a spate of recent cyber-attacks on global renewable energy companies. The company has emphasised that, during the current period of COVID-19-induced lockdowns and beyond, renewable energy asset owners ... Read the full article
Beach adds James Wells to transportation team
20th July 2020
Re/insurance broker Beach & Associates has added James Wells to its wholesale division to help develop its new transportation portfolio. Wells is based in Beach’s London office and reports to John Sutton, Chief Executive Officer of wholesale. Wells was previously a producing broker for Chesterfield Insurance Brokers, where his primary focus was ... Read the full article
Twitter hack exposes business risk to high-profile accounts: CyberCube
20th July 2020
The recent cyber attacks that targeted Twitter accounts of high profile celebrities has highlighted the potential for these kinds of incidents to move company share prices, says cyber analytics provider CyberCube. Darren Thomson, Head of Cyber Security Strategy for CyberCube, said that a sophisticated social engineering attack had been used by ... Read the full article
COVID-19 to accelerate insurtech’s “silent metamorphosis”: Munich Re’s Paul Donnelly
17th July 2020
The COVID-19 pandemic is set to accelerate a “silent metamorphosis” that the re/insurance industry has been undergoing in recent years regarding its use of technology. This is according to Paul Donnelly, Executive Vice President for EMEA at Munich Re Automation Solutions, the specialist insurtech subsidiary of the global reinsurer. Speaking in an ... Read the full article
Battleface launches new COVID-19 travel insurance offering
17th July 2020
Travel insurance provider Battleface has announced a new policy designed to cover medical expenses caused by or resulting from COVID-19. The cover, which is being offered from today for travellers up to and including age of 59, does not include cover in relation to COVID-19 expenses for trip cancellations, curtailment of a ... Read the full article
Tokio Marine Kiln appoints Tobin Ryan as Head of Claims
17th July 2020
Tokio Marine Kiln (TMK), part of global insurance group Tokio Marine, has announced the appointment of Tobin Ryan as Head of Claims, following the retirement of Nick Sinfield. Ryan was previously Head of Property and Special Lines Claims at TMK, having joined the firm in 2012. In his new role, he will ... Read the full article
PwC bolsters UK insurance leadership
17th July 2020
PwC has announced the appointment of Alex Bertolotti to lead its UK insurance practice, replacing Jim Bichard in the role. Bichard will take on the role of global insurance leader. Bertolotti, who is also PwC’s global lead on IFRS 17, has experience that covers a wide range of clients and projects, including ... Read the full article
Berkshire Hathaway GUARD expands US homeowners coverage
17th July 2020
Berkshire Hathaway GUARD Insurance Companies, a U.S subsidiary of Warren Buffett’s global re/insurance company, has added Missouri, Washington, and Wisconsin to the list of states where it offers its Homeowners product. GUARD's product targets dwellings valued over $75,000 and includes one- to four-family residences, renters, and condo units. "Our goal is to ... Read the full article
Howden appoints new Chair ahead of RKH merger
17th July 2020
Independent broker Howden Broking Group has announced the appointment of Barnaby Rugge-Price as its new Chair. The move comes ahead of Howden's planned merger with RKH, which was announced by Hyperion in September 2019 and is set for completion this coming October. This consolidated platform and unified management team will be ... Read the full article
Whitespace secures “fully recognised” status with Lloyd’s ePlacing systems
17th July 2020
Whitespace, the digital e-trading platform for brokers and re/insurers, has been granted “fully recognised” status by Lloyd’s in its list of approved systems for the electronic placing mandate for managing agents. Whitespace was launched at the end of August 2019 and brought its 100th customer on board earlier in July. The platform ... Read the full article
Assurant names Chief Administrative & Legal Officers
17th July 2020
US specialty insurance group Assurant, Inc. has announced the appointments of Francesca Luthi as Chief Administrative Officer and Jay Rosenblum as Chief Legal Officer. Luthi will assume responsibility for Human Resources, Real Estate, Facilities and Procurement while retaining leadership for Assurant’s global Marketing and Insights, Communications, Investor Relations and Corporate Social ... Read the full article
Amynta acquires surety operations from Aspen
17th July 2020
Amynta Group, a provider of property & casualty and warranty protection products and services, has acquired the surety operations of Aspen Insurance, the Insurance Segment of Aspen Insurance Holdings Limited. Following the acquisition, the business will operate as Amynta Surety Solutions. As part of the transaction, Amynta has entered into a strategic ... Read the full article
Castel acquires renewal rights for Navigators Europe from The Hartford
17th July 2020
Castel Underwriting Agencies Limited's subsidiary, Castel Underwriting Europe B.V. (Castel Europe), has reached an agreement with U.S. insurer The Hartford to acquire the renewal rights for Navigators Europe, the trading name of the Bracht, Deckers & Mackelbert NV (BDM)/ASCO Continentale Verzekeringen NV (ASCO), Rotterdam marine business. The Hartford completed its ... Read the full article
Swiss Re lobbies against tighter immigration rules
17th July 2020
Swiss Re Chief Executive Christian Mumenthaler has stated that Switzerland’s re/insurance industry is opposed to tighter immigration proposals in the country. Speaking with Handelszeitung, Mumenthaler said restrictive immigration measures would be antithetical to the industry’s global outlook. Switzerland is set to vote later this year on a set of measures that could ... Read the full article
Allstate braced for $1.19bn Q2 cat hit
17th July 2020
US primary insurance giant Allstate is expecting catastrophe losses for the second quarter to reach $1.19 billion, pre-tax ($937 million, after-tax). For June, the company has estimated total cat hit of $204 million, pre-tax ($161 million, after-tax). Cat losses occurring in June comprised ten events at an estimated cost of $181 million, pre-tax ($143 ... Read the full article
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