Reinsurance News
Globe adds Peter Rossell as Head of Engineering Underwriting
13th August 2019
UK-based managing general agent (MGA) Globe Underwriting has announced the appointment of Peter Rossell as Head of Engineering Underwriting. The growth of Globe’s engineering portfolio is part of a wider strategy to broaden its client offering and will focus on construction and operational power business. Rossell joins with over 40 years’ experience ... Read the full article
Employers Holdings adds Antonello as EVP, Chief Actuary
13th August 2019
Employers Holdings, a US small business insurance specialist, has appointed Katherine H. Antonello as Executive Vice President, Chief Actuary. Antonello most recently served as the Chief Actuary for the National Council on Compensation Insurance. Prior to that, she held various positions with Lumbermen’s Underwriting Alliance and served as its Vice President and ... Read the full article
Swiss Re to open Ivory Coast underwriting office
13th August 2019
Global reinsurance giant Swiss Re is set to open an underwriting office in Abidjan, Ivory Coast following regulatory approval from the Inter-African Conference of Insurance Markets (CIMA). Expected to be fully operational by October 1, the office will be headed by Swiss Re’s current Head of West Africa, Awa Koné. Swiss Re ... Read the full article
Aon advises HSBC on £7bn pension longevity swap with Prudential
13th August 2019
Aon has announced its involvement as an advisor in the recently-completed longevity swap transaction between The Prudential Insurance Company of America (PICA) and the HSBC Bank (UK) Pension Scheme. The longevity swap is the second largest transaction ever completed for a UK pension scheme, and concerns longevity risk in relation ... Read the full article
AXA XL adds Zurich’s Arezes to Property Insurance team in Canada
13th August 2019
Global re/insurer AXA XL has announced the appointment of Jennifer Arezes to its Property Insurance team in Canada as the firm targets national growth of its P&C Large Property business. She will work alongside Ian Rutherford, Head of Property, Canada and Urs Uhlmann, Chief Executive Officer and Country Manager of AXA ... Read the full article
LatAm reinsurance market improves technical performance: Fitch
13th August 2019
With an absence of high catastrophe insured losses in 2018, Fitch analysts say its rated reinsurers in Latin America registered an overall improvement in technical profitability. Despite some claims from 2017 events still having been paid during 2018, the combined ratio for LatAm reinsurers was registered at 97.5% at YE 2018, ... Read the full article
Munich Re subsidiary Roanoke partners with sports tech firm Stack
12th August 2019
Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with sports technology and registration platform provider Stack Sports, in a move that will power SecureFee Registration Cancellation Insurance. SecureFee provides financial protection to athletes faced with circumstances such as injury, illness, transportation and other plan altering ... Read the full article
Canopius to integrate Arturo’s deep-learning property analytics
12th August 2019
Specialty insurer and reinsurer Canopius AG has entered into a partnership with artificial intelligence (AI) and deep-learning property analytics start-up, Arturo. According to an announcement on the new arrangement, Arturo's deep-learning property analysis capability will be integrated into Canopius. The integration is expected to provide the re/insurer with physical property characteristic and ... Read the full article
Lard Friese proposed as Wynaendts successor as Aegon CEO
12th August 2019
The Supervisory Board of Aegon has announced its intention to propose the appointment of Lard Friese as Chief Executive Officer (CEO) to the Annual General Meeting (AGM) of Shareholders, succeeding Alex Wynaendts. Friese will rejoin the firm as CEO-designate effective March 1st, 2020 and will succeed Wynaendts at the AGM to ... Read the full article
Talanx lifts FY19 net income outlook after strong first-half result
12th August 2019
Reinsurance giant Hannover Re's parent, The Talanx Group, has raised its outlook for Group net income in 2019 to above €900 million on the back of a strong first-half performance, supported by a greater contribution from its reinsurance division despite the impact of losses. For the first-half of 2019, the company's ... Read the full article
PERILS raises Townsville flood loss estimate to AUD 1.2bn
12th August 2019
Catastrophe loss data aggregator PERILS has raised its property loss estimate for the floods that hit the Australian city of Townsville earlier this year to AUD 1.217 billion (USD 822 million). PERILS’ third estimate, which does not include losses from motor and other lines of business, represents a AUD 176 ... Read the full article
Lockton adds Aon’s Barber to lead global healthcare practice
12th August 2019
Global re/insurance brokerage Lockton has appointed William Barber to lead an international healthcare practice focused on driving collaboration and integration across its London teams and international network. It’s hoped the practice, formed as part of the company’s professional and financial services offering, will enable Lockton to bring the best of the ... Read the full article
PPL adoption up in Q2 2019, IUA usage rises
12th August 2019
Lloyd's of London Syndicates accepted 60.2% of in scope risks through electronic placement during the second-quarter of 2019, while the use of Placing Platform Limited (PPL) amongst the International Underwriting Association (IUA) companies increased to 51% in the period. This is according to the latest market-wide data for risks placed electronically ... Read the full article
Standard Asia marks China expansion with HK office, CEO hire
12th August 2019
Standard Asia, the Singapore-based subsidiary of mutual insurance association The Standard Club, has established a Hong Kong branch and appointed Michael Turnbull to lead as Chief Executive Officer. The legally-qualified insurance industry veteran will help spearhead an expansion effort in the Greater China region. He reports to Managing Director of Standard ... Read the full article
TransRe announces regional leadership changes
12th August 2019
TransRe has announced numerous changes to its regional leadership teams, including the appointment of Louise Rose as Chief Executive Officer (CEO) of TransRe London Limited (TransRe London). Her appointment is effective September 1st, 2019 and sees Rose take over from Geoff Peach, who is retiring after 27 years with TransRe. Rose's appointment, ... Read the full article
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