Reinsurance News
Pro Global rebrands Vibe MGA Management
11th October 2019
Re/insurance consultancy firm Pro Global Insurance Solutions is set to rebrand Vibe MGA Management to Pro MGA Solutions in the UK after being granted regulatory approval. MGA incubation platform Vibe was launched by Vibe UK Holdings in 2017 and was acquired by Pro Global earlier this year. MGA incubators provide a ... Read the full article
Brokerslink targets growth in Africa with new steering team
11th October 2019
Independent broker network Brokerslink has established a new regional team to help drive growth and development opportunities for its broker partners and affiliates in Africa and through its international network. It follows the launch of a new steering team for Europe earlier this week, also aimed at supporting the global ... Read the full article
P&C re/insurer Q3 results may “surprise to the downside”
10th October 2019
Property & casualty insurance and reinsurance company results may hold a "surprise to the downside" for investors in the fast-approaching third-quarter 2019 earnings season, according to analysts. Reflecting on some recent discloses, equity analysts at Credit Suisse Mike Zaremski and Charles Lederer suggest that shareholders could be in for an unwelcome ... Read the full article
Aon execs John Zern and Cary Grace to step down
10th October 2019
Re/insurance broker Aon has revealed that two of its executive leaders, John Zern and Cary Grace, are to depart the company to pursue new opportunities. The announcement came alongside the launch of the next stage in Aon’s ‘Developing Aon United’ growth strategy. The strategy will see the firm implement a common ... Read the full article
Lloyd’s, AIR target greater supply chain resilience
10th October 2019
A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article
Uncertainty remains as Japan braces for Super Typhoon Hagibis
10th October 2019
As Super Typhoon Hagibis bears down on the southern coast of Japan, uncertainty remains over the ultimate impact it will have on the region. Currently located over open waters 752 miles out from the central city of Yokosuka, Hagibis’ maximum sustained wind speed has been estimated at 129 mph (Category 3) ... Read the full article
Insurers’ post-Brexit European branches generate more business in 2018: IUA
10th October 2019
As London market participants continue to prepare for the uncertain impacts of Brexit, the amount of new business being generated through established European branches and the volume of controlled business written in Europe (excluding the UK and Ireland), increased by more than 9% to £4.89 billion in 2018, reports the ... Read the full article
Lloyd’s chairman Carnegie-Brown takes on role at auto insurtech Cuvva
10th October 2019
Bruce Carnegie-Brown, the Chairman of specialist re/insurance marketplace Lloyd's of London, has taken on a new role at auto insurtech Cuvva, The Financial Times has reported. App-based Cuvva allows users to purchase car insurance by the hour, day, week or month and was founded in 2014 by Freddy Macnamara and James ... Read the full article
Aon enhances client leadership & services in next stage of growth strategy
10th October 2019
Re/insurance broker Aon has announced the next stage in its ‘Delivering Aon United’ growth strategy, which will see the firm implement a common standard for client leadership and create new hubs to support back and middle-office client services. Aon explained that the new leadership strategy will leverage best practices to increase ... Read the full article
Munich Re’s asset manager MEAG names Andree Moschner Chairman
10th October 2019
It's been announced that Andree Moschner will take over as Chairman of the Management Board of MEAG MUNICH ERGO asset manager GmbH, alongside his responsibilities as member of the Management Board of ERGO Group AG, effective November 1st, 2019. MEAG is the asset manager of reinsurance giant Munich Re and ERGO, ... Read the full article
Insurance Council of Australia declares catastrophe for Rappville bushfires
10th October 2019
The Insurance Council of Australia (ICA) has announced a bushfire catastrophe declaration for the area around the northern New South Wales (NSW) community of Rappville and fires in the Busby Flat and Drake areas. This is the ICA's second bushfire catastrophe declaration in five weeks for properties either damaged or destroyed ... Read the full article
Joint cyber terrorism task force launched by IFTRIP & Geneva Association
10th October 2019
The International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) has collaborated with the Geneva Association (GA) on the launch of a joint task force on cyber terrorism and cyber warfare. The launch of this new task force was announced at the IFTRIP 2019 International Conference in Brussels, Belgium. The initial findings ... Read the full article
Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty
10th October 2019
The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article
Specialist MGA Thames expands team with four new underwriters
10th October 2019
Niche construction and commercial lines MGA Thames Underwriting has appointed four underwriters to be split between a new office in Leadenhall Street and its headquarters in Leigh-on-Sea, Essex. Stuart Daffin and Paul Savva both join the newly established London office as construction new business underwriters and most recently served at HSB ... Read the full article
Marsh adds Aon directors to UK Real Estate Practice
10th October 2019
Global re/insurance brokerage Marsh has announced the appointments of Bryce Check as a Business Relationship Director and Anna Whitfield as a Client Service Director, both within its UK Real Estate Practice. Part of Marsh JLT Specialty, the UK Real Estate Practice provides insurance and risk advisory services to real estate owners, ... Read the full article
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