Reinsurance News
Industry leaders call for investment in climate resilience
6th July 2020
A panel of industry leaders at a Coalition for Climate Resilient Investment (CCRI) event have called for a systemic shift in the way projects are financed to build resilience to climate change. With $90 trillion in infrastructure investment needed globally over the next decade to achieve global growth expectations, speakers argued ... Read the full article
Nassau acquires Foresters Life Insurance and Annuity Company
6th July 2020
Nassau Financial Group, an insurance and financial services firm based in Hartford, CT, has completed the acquisition of Foresters Life Insurance and Annuity Company (FLIAC) from The Independent Order of Foresters. Nassau offers a range of insurance and fixed annuity solutions, as well as reinsurance, insurance distribution, and asset management capabilities ... Read the full article
Argo updates leadership roles, as CFO departs
6th July 2020
Specialty re/insurer Argo has announced an update to its senior leadership team responsibilities, as well as the departure of its Chief Financial Officer Jay Bullock. The update comes at a tumultuous time for Argo, after it was dealt a $900,00 fine by the Securities and Exchange Commission (SEC) last month. The ... Read the full article
DXC business targeted in ransomware attack
6th July 2020
IT services provider DXC Technology has confirmed that its subsidiary, Xchanging, has been targeted in a recent ransomware attack. Xchanging is an insurance managed services business based in London that operates on a standalone basis. DXC said it was confident that the incident is isolated to the Xchanging environment, and does not ... Read the full article
Mike Rice announces retirement from Ryan Specialty Group
6th July 2020
Mike Rice, Sr. has announced his intention to retire from Ryan Specialty Group, LLC (RSG) at the end of the year. Rice joined RSG in 2010 as Chairman and CEO of RSG Underwriting Managers, LLC (RSGUM) and will have completed eleven years of valuable service upon his retirement. Patrick G. Ryan, Founder, ... Read the full article
Amanda Blanc takes over from Maurice Tulloch as Aviva CEO
6th July 2020
Global insurer Aviva plc has announced the appointment of Amanda Blanc as its new Chief Executive Officer (CEO), effective immediately, as Maurice Tulloch steps down from the role and his position on the company's Board for family health reasons. Currently, Blanc serves as an Independent Non-Executive Director at Aviva having Read the full article
Lloyd’s Lab adds three start-ups to COVID-19 program
6th July 2020
Insurance and reinsurance marketplace Lloyd’s of London has started working with three new insurtech start-ups to help the market respond to the COVID-19 pandemic. As part of a package of measures to respond to the crisis, Lloyd’s has expanded the scope for new applicants to the Lloyd’s Lab innovation accelerator. The ... Read the full article
Pacific Life Re makes senior appointments in Asia
6th July 2020
Life reinsurer Pacific Life Re has announced the appointments of Wil Chong as General Manager, Asia Markets, Joanne Yeo as General Manager, Business Services and Operations, and Ong Qian Hao as new Head of Pricing, Asia. All three appointments will report to Andrew Gill in his role of Managing Director, Asia ... Read the full article
ARC pays $2.13mn to Madagascar under drought policy
6th July 2020
The African Risk Capacity Insurance Company Limited (ARC Ltd) has paid US $2.13 million to the Government of Madagascar to cover anticipated losses to livelihood after crop failure in the last farming season. The ARC payout is the result of drought insurance taken by the country with the support of the ... Read the full article
COVID-19 impact on investments has been “nearly erased”: Willis Re
3rd July 2020
With markets continuing to rebound, analysts at reinsurance broker Willis Re believe that the negative impact of investments markets on re/insurer capital position has been “nearly erased.” For the global reinsurance industry, which hit -30% when markets were bottoming in March, Willis Re now estimates the impact on capital is now ... Read the full article
Hiscox launches variable consortium for challenging general liability risks
3rd July 2020
Specialist insurer Hiscox has partnered with RKH Reinsurance Brokers on a new variable consortium with a maximum line of over $20 million. It will cover a wide range of general liability risks Hiscox considers 'hard to place' such as wildfire, trucking and construction. Hiscox says the variable structure allows Hiscox and its consortium ... Read the full article
Enstar closes purchase of Great Lakes, HSB run-off portfolios
3rd July 2020
Legacy acquirer Enstar Group has announced that one of its wholly-owned subsidiaries has acquired certain portfolios from the Australian branches of Great Lakes Insurance SE and HSB Engineering Insurance Limited, both part of Munich Re group. This deal was first announced late last year and was described as primarily consisting of long ... Read the full article
LiquidX adds Todd Lynady to Managing Director role
3rd July 2020
Trade finance and trade credit insurance exchange LiquidX has added Todd Lynady as Managing Director and Global Head of Insurance Sales and Business Development. The newly created role will see Lynady lead the sales, origination and business development strategy for the company’s trade credit insurance digital marketplace globally. He brings over 20 ... Read the full article
Compre signs further legacy transaction with QBE
3rd July 2020
Leading specialist legacy acquirer Compre has today announced the signing of its second legacy transaction with QBE for an undisclosed sum. This transaction follows Compre’s acquisition of QBE’s share of the Ridgwell Fox & Partners pool legacy reinsurance business in 2016. “I am extremely pleased to announce the conclusion of our second ... Read the full article
MMC pulls ahead in broker rankings but Aon + WTW could take top spot
3rd July 2020
Marsh & McLennan Companies (MMC) has extended its lead in the rankings of The Top 20 Global Insurance and Reinsurance Broking Groups, although a combined Aon and Willis Towers Watson (WTW) could claim the number one spot. As shown by our directory of the Top 20 Global Insurance & ... Read the full article
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