Reinsurance News
Starr Insurance names Canadian Territory Manager for Aviation
8th January 2020
Starr Insurance Companies has announced the appointment of Paul O’Ryan as Canadian Territory Manager for General Aviation. Based in Toronto, O’Ryan will report to Kyle Sparks, Senior Vice President, Chief Underwriting Officer GA/CR at Starr Insurance. He joins the company from Swiss Re, where he has spent the last 21 years, most ... Read the full article
Hub International acquires Cranbrook Bloomfield
8th January 2020
Global insurance brokerage Hub International has acquired the assets of Cranbrook Bloomfield Insurance Agency (CBIA). Terms of the transaction were not disclosed. Headquartered in Bloomfield Hills, Michigan, CBIA is an independent insurance brokerage that provides personal and commercial insurance, and employee benefits solutions. Agency principals John Williamson and Mark Barrett will join ... Read the full article
Goldman Sachs still cautious on P&C heading into 2020
8th January 2020
Analysts at Goldman Sachs remain cautious in their outlook for commercial property and casualty (P&C) re/insurance in 2020, as potential positive rate momentum is balanced against broadening loss trend deterioration. That said, the firm believes many reinsurers are positioned to grow their top lines this year, supported by pockets of rate ... Read the full article
Hiscox partners with Concirrus to drive digitalisation
8th January 2020
Hiscox London Market, one of the oldest Lloyd's of London syndicates, has entered into a partnership with InsurTech Concirrus in an effort to deliver progressive, analytics-based underwriting. Under the terms of this new multi-year deal, Hiscox is to embed Concirrus' behaviour-based data analytics platform, Quest Marine Hull. An announcement on the deal ... Read the full article
Aon’s Reinsurance Solutions names LatAm CEO
8th January 2020
Global insurance brokerage Aon has announced Pablo Munoz as the new Chief Executive Officer (CEO) for Reinsurance Solutions in Latin America, succeeding Alejandro Galizia. Munoz first joined Aon in 2008 and during his time with the re/insurance broker has held a number of leadership roles, playing an important role in the ... Read the full article
Fitch expects limited insured losses from Puerto Rico quake
8th January 2020
Global financial services ratings agency, Fitch Ratings, has said that the insurance industry loss from the recent 6.4 magnitude earthquake in Puerto Rico is likely to be lower than the losses the island experienced from Hurricane Maria. While many were asleep in the early hours of Tuesday morning, a devastating 6.4 ... Read the full article
Brown & Brown’s P. Barrett Brown promoted to President of Retail
8th January 2020
P. Barrett Brown has been appointed as an Executive Vice President and President of Brown & Brown, Inc.'s Retail segment, effective immediately. Most recently, Brown served as a Senior Vice President and a Regional President in the firm's Retail segment. He joined the company in 2000 and has held a number of ... Read the full article
WTW exec Edwards to join Risk Strategies as COO
8th January 2020
US insurance broker and risk management firm Risk Strategies has appointed Sharon Edwards as Chief Operating Officer. Edwards, who will join the firm’s executive committee and lead its operating committee, assumes immediate oversight and management responsibilities for national operations. She previously served as Chief Financial Officer of Willis Towers Watson’s corporate risk ... Read the full article
Munich Re pegs insured nat cat losses at $52bn in 2019
8th January 2020
New data from reinsurer Munich Re estimates that natural catastrophes caused global economic losses of $150 billion in 2019, of which $52 billion was covered by re/insurance. Analysts noted that the insured portion of overall losses – slightly above 35% - was broadly in line with the average over the past ... Read the full article
UK P&I Club adds Tom Starr as Senior Claims Executive
8th January 2020
The UK P&I Club, a provider of protection and indemnity (P&I) insurance and other services to the international shipping community, has appointed Tom Starr as a Senior Claims Executive. Starr joins the UK Club from Reed Smith, where he worked as a solicitor and Master Mariner. At Reed Smith, he practised in ... Read the full article
Hanni Ali to lead renamed Hamilton ILS platform
8th January 2020
Bermuda-based insurer and reinsurer, Hamilton Insurance Group, Ltd. has renamed its insurance-linked securities (ILS) platform and appointed Hanni Ali as its new lead executive. The re/insurer launched its ILS and third-party capital unit in 2018, under the name Hamilton Capital Partners. The platform is home to the firm's ILS activities such ... Read the full article
Aviation reinsurers achieve major price corrections at 1/1: Willis Re
8th January 2020
Reinsurers broadly achieved major price corrections and payback at the global aviation renewals in January, according to broker Willis Re, despite an abundance of available capacity. Analysts reported that aviation rates were up by 15% on average for clean renewals, and by up to 70% for loss affected renewals. Underlying premium income ... Read the full article
Gallagher named preferred broker for the Greater Manchester Combined Authority
8th January 2020
Gallagher, a UK provider of insurance and risk management advice to local councils, has won a four year appointment as the preferred brokerage for the Greater Manchester Combined Authority (GMCA). GMCA is the combined authority of Greater Manchester in England, and consists of the 10 metropolitan boroughs that comprise Greater Manchester ... Read the full article
Milliman names Thomas Snook as Global Health Practice Director
8th January 2020
Consulting and actuarial firm Milliman has announced the appointment of Thomas D. Snook as the firm's Global Health Practice Director. He succeeds Lorraine Mayne, who is retiring after six years in the role, during which time the revenue of the practice grew by more than 60%. Snook first joined Milliman in 1988 ... Read the full article
Reinsurers likely to review rates amid US / Iran fallout: S&P
7th January 2020
Analysts at ratings agency S&P Global Ratings have said that reinsurance firms are likely to review rates for war coverage in the Gulf following the U.S. killing of Iran's top military commander, General Qassim Soleimani. Advisory warnings of the possibility of Iranian attacks on US ships and infrastructure have been observed ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
