Reinsurance News
Marsh trials blockchain-powered placement platform
25th September 2019
Global re/insurance brokerage Marsh has announced plans to pilot a new digital placement platform powered by blockchain technology, called Risk Exchange. The Risk Exchange concept was proposed by a winning Marsh hackathon team and further developed in Marsh Digital Labs. The broker believes the platform has the potential to transform the insurance ... Read the full article
CoreLogic updates RCT Express solution to include valuations for large tract homes
25th September 2019
Catastrophe risk modeller CoreLogic has released its updated RCT Express reconstruction estimating and risk assessment solution, which now provides re/insurers with the ability to provide valuations for large tract homes (LTH). CoreLogic says that the available update provides users with more powerful coverage adequacy tools, which ultimately enables insurers to better ... Read the full article
Price Forbes acquires stake in HK broker Sino
25th September 2019
Independent Lloyd's of London insurance broker Price Forbes has purchased a minority stake in Hong Kong-based Sino Insurance and Reinsurance. Since its founding in 2006, Sino has focused on providing risk management and insurance solutions for Chinese multinational companies’ overseas investments and infrastructure construction, engineering, project management, and various aspects of ... Read the full article
Australian Reinsurance Pool names Helen Williams as COO
25th September 2019
Australian Reinsurance Pool Corporation (ARPC), the Australian Government’s terrorism reinsurance agency, has appointed Helen Williams to the position of Chief Operating Officer (COO). Williams joins ARPC from strategy consulting firm Strategy& (part of the PwC network), where she has served as a strategy consultant since 2014. Previously, Williams gained over 12 years ... Read the full article
GCube sets up post-Brexit hub in Amsterdam, names senior underwriters
25th September 2019
Specialist renewable energy insurer GCube has bolstered its European presence with the establishment of a new base in Amsterdam, which will serve as a hub to service clients following the UK’s exit from the European Union (EU). At the same time, GCube has appointed Andries Veldstra and Elkhadir El Hammdaoui as ... Read the full article
Australian re/insurers endorse call for investment in disaster mitigation
25th September 2019
The Insurance Council of Australia (ICA) has lent its weight to a call for more investment in natural disaster mitigation, made recently by the Australian Prudential Regulation Authority (APRA). The regulator believes that more funding in this area will improve the affordability and availability of general insurance in Northern Australia. “The ICA ... Read the full article
Typhoon Faxai to mark first catastrophe designated under PCS Japan
24th September 2019
Property Claims Services (PCS), a Verisk Analytics business, has confirmed that Typhoon Faxai will become the first catastrophe loss event to be designated under the firm’s new PCS Japan service. PCS expanded its industry loss data aggregation and index reporting capabilities to include non-marine catastrophe losses in Japan back in ... Read the full article
Louis Hobson to lead Chubb’s North America Flood Insurance division
24th September 2019
Insurer and reinsurer Chubb has appointed Louis Hobson as Senior Vice President (SVP) of Flood Insurance for North America, based in Chicago and reporting to Derek Talbott, Division President of Chubb's North America Property & Specialty Lines. In this role, Hobson will work alongside the firm's personal and commercial lines of ... Read the full article
Allianz, MS&AD in mix to buy Aviva’s Asian operations, reports
24th September 2019
Reports have emerged from Reuters claiming that Allianz, Nippon Life and MS&AD are among a dozen companies are actively looking to purchase the Asian operations of UK insurer Aviva. Aviva confirmed earlier this year that it was examining options for a sale of the business as part of a new strategy ... Read the full article
Lloyd’s announces new parametric solution targeting hotel profit protection
24th September 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced the launch of the first policy developed by Lloyd's Product Innovation Facility, a parametric solution targeting the hotel industry. The Lloyd's Product Innovation Facility was launched in June of this year to accelerate the development of re/insurance solutions for new ... Read the full article
Swiss Re to transfer Australian business under Asian headquarters
24th September 2019
Global reinsurer Swiss Re has announced an internal restructuring that will see the business of its Australia Branch (SRAU) transferred to Swiss Re Asia (SRAL). Swiss Re Asia was first announced in 2017 and serves clients and partners throughout the region. The company’s operations in South Korea and Singapore have already ... Read the full article
Munich Re partners with AAIS to address US flood protection gap
24th September 2019
Munich Re has partnered with not-for-profit advisory organisation the American Association of Insurance Services (AAIS) to focus on improving flood insurance protection for US homeowners. The flood insurance protection gap in the US continues to expand alongside the heightened risk of flood, the partnership noted, particularly for homeowners outside major flood ... Read the full article
AmTrust E&S launches Excess Casualty division in LA
24th September 2019
A subsidiary of AmTrust Financial Services, AmTrust E&S Insurance Services, has announced the launch of its Excess Casualty underwriting unit, based in Los Angeles (LA). The new division will expand the firm's product offerings of E&S and will write excess liability, both supported and unsupported in all 50 states, with limits ... Read the full article
Monument Re completes purchase of Irish insurer Inora Life DAC
24th September 2019
Monument Re has through its European subsidiary Laguna Life d.a.c completed its acquisition of Inora Life DAC, a life insurer domiciled in Ireland, from its owner Societe Generale. Inora Life ceased all new activity in 2012 but still manages a portfolio of unit-linked insurance products. “The acquisition of Inora aligns with our ... Read the full article
Swiss Re Corporate Solutions opens LA office
24th September 2019
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re Group, has opened a new hub for the Western United States in Downtown Los Angeles, as the firm looks to bolster its commitment to the California marketplace. The Los Angeles team will be led by Head of US ... Read the full article
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