Reinsurance News
Lockton appoints JLT’s Harton to lead Irish business
23rd January 2020
Global re/insurance broker Lockton has appointed Amanda Harton as Chief Executive Officer and director of its Irish business. Harton will lead Lockton Insurance Brokers (Ireland) by helping clients manage their risk in real estate, insolvency, waste management, motor trade and hospitality. Lockton’s announcement states that LIBI will continue to expand its offering ... Read the full article
MetLife appoints Brown to Chief Auditor role
23rd January 2020
Life insurer MetLife has announced the appointment of Toby Brown as executive vice president and Chief Auditor. Effective March 1, Brown will report to MetLife president and Chief Executive Officer Michel Khalaf on an administrative basis. As Chief Auditor, he will lead the team responsible for providing assurance over MetLife’s risk management, ... Read the full article
Aerial imagery specialist Vexcel partners with Verisk’s Geomni
23rd January 2020
Vexcel Imaging, a specialist in aerial imagery data, cameras, and photogrammetry software, has agreed to acquire the imagery sourcing group from Verisk’s Geomni business. The deal will combine Geomni’s imagery surveying and content-related teams and assets into Vexcel, and will also see Verisk become a minority owner in Vexcel, with full ... Read the full article
Reserve release boosts RLI to $16.5m Q4 underwriting income
23rd January 2020
US property and casualty (P&C) insurer RLI has beniftted from a $16.2 million reserve release in the fourth quarter of 2019. This reserve release largely accounts for RLI’s reported Q4 underwriting income of $16.5 million, a $2.8 million increase from the previous quarter. RLI posted a 92.4 combined ratio, compared to a ... Read the full article
Travelers net income rises but underlying combined ratio weakens in Q4
23rd January 2020
Travelers has reported a 41% rise in net income to $873 million for the fourth-quarter of 2019 while its underlying combined ratio weakened slightly to 92.1%, when compared with the same period in 2018. The insurer's net income jumped significantly in Q4 from the $621 million reported a year earlier, while ... Read the full article
Markel & RenRe back new policy from AI start-up Cowbell Cyber
23rd January 2020
Reinsurers Markel Global Reinsurance Company and Renaissance Re Holdings are among a group of companies that have provided backing for a new policy from Cowbell Cyber, a start-up focused on AI-powered cyber insurance for SMEs. The policy, called Cowbell Prime 100, is designed to enable insurance agents to issue personalised cyber ... Read the full article
Julian James to lead Sompo’s London & International Insurance units
23rd January 2020
Bermuda domiciled specialty P&C insurer and reinsurer, Sompo International Holdings Ltd., has announced that Julian James is set to join the firm to lead its London market and International Insurance operations. Following a transition period and subject to regulatory approvals, James will take over as Chief Executive Officer (CEO), London market ... Read the full article
Angela Crawford-Ingle joins Lloyd’s Board as Chair of Audit Committee
23rd January 2020
The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Angela Crawford-Ingle has been appointed to its Board, succeeding Richard Keers as Chair of the Audit Committee. Crawford-Ingle's appointment is effective immediately, and sees her also become Lloyd's Whistleblowers' Champion, a role which sees her take oversight of both ... Read the full article
Allianz’ AGCS unit adds Henning Haagen as specialty CUO
23rd January 2020
Allianz Global Corporate & Specialty SE (AGCS), the corporate insurance carrier of Allianz, has appointed Henning Haagen as Chief Underwriting Officer Specialty. Effective March 1, Haagen will succeed Paul O’Neill and serve as a member of the board of management. He brings over 20 years’ experience to the role and will take ... Read the full article
UK non-life insurers well positioned despite a challenging 2019: A.M. Best
23rd January 2020
Market conditions for UK non-life insurers remained challenging in 2019 as intense competition, claims inflation, and a volatile property sector pressured underwriting earnings, according to A.M. Best. Throughout 2019, says A.M. Best, competition across the UK non-life insurance sector was intense, driven in part by depressed premium rates in the property ... Read the full article
Indian insurtech Digit secures $84m from equity investors
23rd January 2020
Digit Insurance, an India-based insurance start-up backed by Fairfax Group, has secured regulatory approval to raise $84 million from three growth equity investors, bringing total investment to $224 million. Digit started its operations in October 2017 and has since expanded its distribution through direct channel partners such as e-commerce giants Policybazaar, ... Read the full article
Government could mandate catastrophe insurance: AIG’s Duperreault at Davos
22nd January 2020
Brian Duperreault, the President and Chief Executive Officer (CEO) of insurance giant AIG, has said that mandating insurance protection for catastrophes is "maybe something that the government could enable." The insurance industry expert made the comment on a panel during the annual World Economic Forum (WEF) in Davos, Switzerland. The panel ... Read the full article
Lovell Minnick completes acquisition of Charles Taylor
22nd January 2020
Charles Taylor has been acquired by an investment company managed and controlled by Lovell Minnick Partners LLC, a U.S. private equity firm that invests in the global financial services sector. It's expected that the takeover will support Charles Taylor's growth strategy, which has a focus on broadening client relationships and specialist ... Read the full article
Lions Gate Underwriting names Head of Surety & EVP for LatAm
22nd January 2020
Lions Gate Underwriting, an independent underwriting agency and Lloyd’s coverholder, has announced the appointment of Jairo Medina as Head of Surety and Executive Vice President (EVP) for Latin America. Based in Miami, he will work to expand Lions Gate’s existing portfolio of products into the surety space. Medina joins the company from ... Read the full article
BMS names StarStone’s Jani Kohonen senior vice president
22nd January 2020
Independent re/insurance broker BMS Group has announced the appointment of Jani Kohonen as senior vice president and Atlanta branch manager. Effective January 29, Kohonen will report to BMS Re US president and Chief Executive Officer Pete Chandler. He brings over 15 years’ experience to the role and joins from StarStone Insurance having ... Read the full article
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