Reinsurance News
Tysers to acquire RFIB Group owner RTG
8th September 2019
Specialty Lloyd’s broker Tysers has announced the acquisition of Risk Transfer Group, the parent company of RFIB Group, for an undisclosed fee. Tysers says the move to combine with another independent specialist brokerage demonstrates a commitment to expanding its capabilities and product offering. As part of the deal, RTG Chief Executive Officer ... Read the full article
David Priebe named Chairman of Guy Carpenter
8th September 2019
Long-standing leader David Priebe has been named as the new Chairman of reinsurance broker Guy Carpenter this morning. Having worked at the brokerage since 1981, Priebe has held a range of leadership positions, most recent as its Vice Chairman. Moving up to Chairman effective immediately, Priebe will continue to report to Guy ... Read the full article
Opportunity to close $1.2 trillion composite protection gap, says Swiss Re
7th September 2019
Reinsurance giant Swiss Re has said that the world economy is less resilient now than in 2007 and has highlighted a $1.2 trillion composite protection gap for three main risk areas - nat cats, mortality and healthcare spending. Swiss Re's latest sigma report, which was announced today at the annual meeting ... Read the full article
Reinsurance rate rises uneven & regional: Tony Melia, Willis Re
6th September 2019
Movements in reinsurance rates seen at mid-year 2019 renewals were not evenly distributed, with differentiation of cedants and regional price dynamics the order of the day. Willis Re International CEO Tony Melia explained to us in a recent interview that the reinsurance market has become increasingly nuanced, when it comes to ... Read the full article
Re/insurers could face $3bn loss from Dorian in the Caribbean: AIR Worldwide
6th September 2019
Catastrophe risk modelling firm AIR Worldwide has estimated that industry insured losses resulting from Hurricane Dorian’s impact in the Caribbean will be between US $1.5 billion and $3 billion. Dorian is currently moving northeast away from the coast of North Carolina at 14 mph, having weakened considerably during its track along ... Read the full article
AXA XL reveals simplified reinsurance organisational structure
6th September 2019
AXA XL has announced a number of executive appointments in what it describes as a new, simplified Reinsurance organisational structure. The new structure is aligned around the firm's key markets and is intended to enhance the focus on AXA XL's payer to partner strategy. Currently, AXA XL has four reinsurance underwriting regions: ... Read the full article
R&Q profits up six-fold in H1, boosted by 2018 legacy deals
6th September 2019
Bermudian specialist non-life re/insurance investor Randall & Quilter Investment Holdings Ltd. (R&Q) has reported its results for the first half of 2019, which saw the company’s profit after tax increase more than six-fold to £32.6 million. Operating profit (continuing) similarly increased almost four times over compared with the first six months ... Read the full article
Alternative capital poised to resume growth after flat 2018, says Aon
6th September 2019
The insurance-linked securities (ILS) sector is poised to resume growth following a plateau in 2018, according to a new report by Aon, which found that catastrophe bond levels had remained consistent year-over-year despite challenging market conditions. Aon established that $5.4 billion of catastrophe bonds, including life and health, were issued in ... Read the full article
Smaller reinsurers most vulnerable to takeover: Grimes, Fitch Ratings
6th September 2019
It is the smaller reinsurance firms that cannot take advantage of current market conditions and rate firming which are the most vulnerable to takeover right now, according to Chris Grimes of Fitch Ratings. Grimes, Director of Insurance at the rating agency, explained to us in an interview that despite the improved ... Read the full article
Marsh agrees to split with specialty broker Construction Risk Partners
6th September 2019
Global re/insurance brokerage Marsh has reached an agreement with Construction Risk Partners (CRP), a specialty broker focused on US construction, whereby CRP management will buy back the company’s stock from JLT Specialty USA. CRP will begin operating as an independent construction risk and surety specialty insurance broker with immediate effect, maintaining ... Read the full article
Gossmann & Cie reveals management team for new risk carrier
6th September 2019
Gossmann & Cie. has introduced its new management team, including the appointment of Joanna Aquilina as Executive Director of Gossmann & Cie.'s new risk carrier, which is currently being setup in Malta. Gossmann & Cie. was founded in 2018 by former DARAG Chief Executive Officer (CEO), Arndt Gossmann, to develop an ... Read the full article
AIG to back new media finance vehicle by fintech firm FastPay
6th September 2019
Global insurer American International Group (AIG) is to provide funding and trade insurance for a new receivables securitisation program launched by financial technology firm FastPay. The program will offer significant capital to the media and technology sector and allow FastPay to open the door for larger, global media and tech clients ... Read the full article
Coca-Cola’s Simon Gilliat joins Lockton to drive International Benefits Strategy
6th September 2019
Global insurance and reinsurance broker Lockton has added Simon Gilliat to lead its International Benefits Strategy, based in London. In his new role, Gilliat will provide strategic direction to the broker's global employee benefits proposition, leading teams in the UK, Asia, Latin America and MENA. He joins Lockton from Coca-Cola where he ... Read the full article
Chaucer adds Catherine Soyka to Treaty team in Singapore
6th September 2019
Chaucer, the specialty international re/insurance group, has announced the appointment of Catherine Soyka as Deputy Class Underwriter to its Treaty team base in Singapore. Soyka joins Chaucer from AXA XL, where she has worked for almost a decade across their Sydney and Singapore offices. While at AXA XL, she helped to develop ... Read the full article
BPL Global names Gregory King-Underwood as Head of Global Reinsurance
6th September 2019
Credit and political risk re/insurance broker BPL Global has announced the appointment of Gregory King-Underwood as Director and Head of Global Reinsurance and Portfolio Solutions. A former barrister, King-Underwood has worked at Guy Carpenter since 2012, where he recently headed up the broker’s trade credit, political risk, and surety and bond ... Read the full article
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