Reinsurance News
Liberty Mutual announces Chief Sustainability Officer & global coal policy
17th December 2019
Liberty Mutual Insurance has announced the appointment of Francis Hyatt as its first Chief Sustainability Officer, and has also revealed a new global policy on coal underwriting and investing. The Boston, Massachusetts headquartered firm has appointed long-term company leader Hyatt in this role to further enhance its continued focus on environmental, ... Read the full article
Fannie Mae secures reinsurance for another $18.5bn of mortgage risk
17th December 2019
The Federal National Mortgage Association (Fannie Mae) has completed its eighth and final Credit Insurance Risk Transfer (CIRT) deal of 2019, securing re/insurance on $18.5 billion of single-family loans. The transaction, which relates to 15-year and 20-year original term fixed rate loans, forms part of Fannie Mae’s ongoing effort to reduce ... Read the full article
Tremor finds price inflation inefficiencies in traditional market placements
17th December 2019
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has compiled new data that reveals the extent of price inflation inefficiencies in traditional market placements. On average, the company believes that reinsurers must be inflating prices by at least 5-10% for program placements, with inflation found to be present and substantial ... Read the full article
HDI Global Specialty recruits Head of Fine Art from AXA
17th December 2019
HDI Global Specialty SE, a joint venture of reinsurance giant Hannover Re and HDI Global SE, has announced its move into the UK Fine Art market with the appointment of Nick Brett as Head of Fine Art. He arrives from AXA Art, where he has served as Chief Executive of the ... Read the full article
Thomas Miller Americas CEO to retire, Kirchner succeeds
17th December 2019
Global insurance provider Thomas Miller has appointed Leo Kirchner to succeed Mike Jarrett as President and Chief Executive Officer of Thomas Miller Americas. Kirchner has spent 25 years with the firm and most recently served as regional director for the Americas at transport and logistics industry insurer TT Club. Jarrett exits in ... Read the full article
Another big loss is needed to fundamentally shift rates: Occam CEO Gibbins
17th December 2019
A fundamental shift in the re/insurance pricing environment will ultimately require another significant market loss event, according to Lance Gibbins, Chief Executive Officer (CEO) of specialty Lloyd’s of London managing general agent (MGA) Occam Underwriting. Speaking in a recent interview with Reinsurance News, Gibbins acknowledged that carriers are now responding to ... Read the full article
Hannover Re reinsures £800m Zurich, FTSE 100 longevity swap
17th December 2019
Hannover Re has acted as the primary reinsurer for a £800 million longevity swap transaction between Zurich and a FTSE100 pension scheme. With Hymans Robertson leading the advice on the deal alongside legal transactional counsel CMS, a new and efficient structure was negotiated to meet the requirements of the scheme. The transaction ... Read the full article
Mark Simons joins Ed Bermuda to lead Business Development & Production
17th December 2019
Global reinsurance brokerage Ed has appointed Marsh Bermuda's Mark Simons as Head of Business Development and Production, Bermuda. Simons joins the firm next month and will have a focus on both developing and fostering client relationships. While at Marsh Bermuda, he served as Senior Vice President of FINPRO. During his career, Simons ... Read the full article
Aviva’s asset management arm appointed to the ICMIF
17th December 2019
The International Cooperative and Mutual Insurance Federation (ICMIF) has approved Aviva Investors, the global asset management arm of Aviva plc, as a member of the representative body. Specifically, Aviva Investors will become a 'Supporting Member', which sees it join a list of five other companies from around the world. As a ... Read the full article
Beazley to serve as carrier partner on new SterlingRisk A&E program
17th December 2019
Specialist insurer Beazley has announced that it will serve as carrier partner for the new Architects and Engineers (A&E) professional liability insurance program from US broker SterlingRisk. The new program comes after SterlingRisk acquired renewal rights from Affinity Insurance Services for accounts in the Aon A&E Advantage professional lability insurance program. “The ... Read the full article
Outlook stable for US commercial lines: AM Best
17th December 2019
AM Best has maintained a stable market outlook for US commercial lines insurance in 2020, citing factors such as improved market conditions and solid capitalisation, which have offset short-term profitability challenges. The rating agency noted that commercial lines pricing strengthened in 2019, while pressure on terms and conditions lessened. In addition, the ... Read the full article
Alliant acquires Texan energy broker TCOR Management
17th December 2019
US specialty insurance broker Alliant Insurance Services has announced the acquisition of TCOR Management, a Texas-based risk management firm. Founded in 1972, TCOR provides commercial insurance to the energy and construction industries as well as surety, loss control services, and employee benefits. The company has offices in New Braunfels, Beeville, and Tyler, ... Read the full article
Peter Townsend appointed to develop Miller’s NA Marine business
17th December 2019
Insurance and reinsurance broker Miller has announced that Peter Townsend will be joining its Marine team in January 2020 to support new business development in North America. Townsend, who is the founder of Ensign Consultancy Ltd., brings extensive marine industry experience to the role, having served as Chairman of the London ... Read the full article
Aon targets private equity investors in NAIC partnership
17th December 2019
Global re/insurance brokerage Aon has partnered with The National Association of Investment Companies, the largest network of diverse-owned private equity firms and hedge funds. The move will give Aon an opportunity to offer its services to NAIC member companies, which are expected to increasingly pursue innovative and complex transactions as the ... Read the full article
Marsh appoints Walsh head of corporate division office, Leeds
17th December 2019
Global re/insurance brokerage Marsh has appointed John Walsh as head of office, corporate division in Leeds. Walsh, who has been with Marsh for over six years, reports to Allan McPherson, regional managing director for North of England & Scotland, Corporate Division. In his new role as head of office in Leeds, Walsh ... 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.
