Reinsurance News
Ascent, Cove adds Paul Western as CUO
18th September 2019
Cyber and specialty lines managing general agent Ascent Underwriting and Cove Programs, a US construction-focused MGA, has appointed Paul Western as group Chief Underwriting Officer. Effective October 7, Western will oversee the direction, leadership and management of the group’s underwriting and business lines . He joins from MS Amlin, where he served ... Read the full article
Price increases will fall short of hard market: Canaccord Genuity
18th September 2019
While the industry seems confident that rates will continue to increase in 2020, analysts at Canaccord Genuity argue they will not be enough to move reinsurance into ‘hard market’ territory. Based on its meetings at the Reinsurance Rendezvous in Monte Carlo this year, Canaccord Genuity believes that the market is anticipating ... Read the full article
Arch, Marsh collaborate on insurance solution for digital assets
18th September 2019
Arch Insurance UK, a division of Arch Insurance International, has partnered with global re/insurance brokerage Marsh on a new solution designed to protect digital asset private keys held in traditional vault facilities. A private key, in this context, is essentially a string of numbers and letters that leads to a digital ... Read the full article
Alliant hires John Riley as VP within Northeast P&C team
18th September 2019
US specialty insurance brokerage firm Alliant Insurance Services has announced the appointment of John Riley as Vice President (VP) within its White Plains, NY office. As part of Alliant’s Northeast P&C team, he will service a portfolio of clients with operations in the Northeast and across the globe. Prior to joining the ... Read the full article
Reinsurance lines “lagging” behind current pricing cycle: JMP Securities
18th September 2019
Analysts at JMP Securities have underlined the lagging of reinsurance lines behind the current primary and retrocession-led pricing cycle as one of the key takeaways from this year's reinsurance rendezvous in Monte Carlo. Analysts say there are several reasons for this, but that it is somewhat unique as historical cycles go. On ... Read the full article
Saudi oil attacks a concern for political risk insurers, says Gallagher’s Morgan
18th September 2019
The attacks launched against major Saudi Arabian oil facilities on Saturday will have a significant impact on the appetite and pricing of re/insurers with political risk (PRI) and political violence (PV) business, according to Rupert Morgan, Executive Director of Credit and Political Risks at Gallagher. The drone and cruise missile attack ... Read the full article
Berkshire (BHSI) adds claims, product line leaders in France
18th September 2019
Berkshire Hathaway Specialty Insurance Company (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced a series of leadership changes within its team in France. Katell Pouliquen joins as Head of Claims, Louis du Ché as Head of Property and Ludovic Ruiller as Head of Environmental. Pouliquen, who brings over 15 years’ ... Read the full article
Marsh’s Torrent Technologies develops new flood offering
18th September 2019
Torrent Technologies, a Marsh company, has announced the launch of FloodPlus Commercial, a new private market primary flood insurance offering for agents of its Write Your Own (WYO) carrier clients. FloodPlus commercial provides up to $2.5 million in flood coverage for small commercial property owners’ building, building personal property (BPP), and ... Read the full article
INSHUR adds Uber’s Simon Logan to senior team
18th September 2019
INSHUR, the Munich Re-backed provider of commercial auto insurance, has announced the appointment of Simon Logan as Vice President of Commercial & Legal. Logan previously served as former Legal Director of Insurance, EMEA at Uber, which INSHUR partnered with back in May 2019. INSHUR said that the appointment would help to ... Read the full article
David Sansom confirmed as Lloyd’s Chief Risk Officer, Annette Andrews departs
18th September 2019
Lloyd's of London, the specialist insurance and reinsurance marketplace, has confirmed the appointment of David Sansom as Chief Risk Officer (CRO), subject to regulatory approval. In his new role, Sansom's remit includes all areas of risk management within Lloyd's, and also oversight for market-level risks. Sansom was formerly Director of Financial Services ... Read the full article
AXA XL adds Edward Moeller to political risk, credit & bond team
18th September 2019
AXA XL, the property and casualty and specialty risk division of AXA, has appointed Edward Moeller to its Political Risk, Credit and Bond team. In this senior underwriter role Moeller will oversee the development and maintenance of customer and broker relationships, while also taking responsibility for growing new business in targeted ... Read the full article
Gallagher adds Steve Wilkinson to aerospace practice as Head of Claims
18th September 2019
Re/insurance broker Gallagher has announced the appointment of Steve Wilkinson as Head of Claims within its global aerospace practice, effective immediately. Wilkinson is an industry veteran with more than 40 years’ experience, and has handled many high-profile, complex aviation claims during his career. Most recently, he held the position of Managing Director ... Read the full article
Marine underwriting sector characterised by uncertainty, says IUMI
18th September 2019
Analysis made by the International Union of Marine Insurance indicates that marine underwriting premiums for 2018 were recorded at $28.9 billion, representing a 1% rise from 2017. With significant challenges facing the market, the IUMI believes this modest increase is not significant enough to herald an upturn in the fortunes of ... Read the full article
Lloyd’s reports £2.3bn H1 profit, but underwriting contribution minimal
18th September 2019
The Lloyd's of London insurance and reinsurance marketplace reported a £2.3 billion profit before tax for the first-half of 2019, but the investment return drove all of that as underwriting again failed to deliver and actually declined in the period. CEO John Neal cited an improving underwriting outlook, as attritional losses ... Read the full article
Trust Re announces formation of new Executive Committee
17th September 2019
Bahrain domiciled reinsurer, Trust Re has announced the formation of its new Executive Committee, which is part of the firm's strategic commitment to drive growth and value for both clients and shareholders. Regional reinsurer Trust Re's Executive Committee is to be led by Group Chief Executive Officer (CEO), Talal Al Zain. The ... Read the full article
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