Reinsurance News
2019 cats to dent reinsurers’ earnings, accelerate rates: A.M. Best
22nd October 2019
Global financial services ratings agency, A.M. Best, expects an acceleration in rate increases for the key January 1st and April 1st, 2020 reinsurance renewals, but warns of another lacklustre performance for the reinsurance sector in 2019 after a series of major catastrophe events. After consecutive heavy loss years, insurers, reinsurers and ... Read the full article
S&P drops Argo outlook to “stable” on SEC subpoena
21st October 2019
S&P Global Ratings has dropped its outlook for Argo Group US and its subsidiaries from positive to stable, after the specialty re/insurer was issued with a subpoena by The US Securities and Exchange Commission. After news of the subpoena broke, Argo released a statement explaining that it was conducting an ... Read the full article
TRIPRA uncertainty may impact re/insurance availability: Metropoulos, Guy Carpenter
21st October 2019
Uncertainty regarding the future of the US Terrorism Risk Insurance Protection and Reauthorization Act (TRIPRA) may impact the “nature and availability" of re/insurance coverage, according to Emil Metropoulos, Terrorism Center of Excellence Practice Leader at Guy Carpenter. Metropoulos does not foresee major resistance to a reauthorisation of TRIPRA, which is currently ... Read the full article
Markel makes senior appointments to global strategy & national markets teams
21st October 2019
Specialist re/insurer Markel International has announced the appointment of Simon Wilson as Managing Executive of Global Strategy for Insurance Operations, Markel Corporation, effective January 1, 2020. At the same time, the company said Henrik Bjornstad will move into Wilson’s former role as Managing Director of Markel International’s national markets division. Based in ... Read the full article
Hannover Re’s E+S Rück sees positive rate development in Germany in 2020
21st October 2019
Improved conditions in Germany's primary insurance sector, coupled with increased demand for reinsurance protection in certain lines of business is expected to drive positive premium development across the German market in 2020, according to E+S Rückversicherung AG, Hannover Re's German business subsidiary. At the reinsurance industry meets in Baden-Baden this week, ... Read the full article
Aon’s Regional Insurer Group launches in the U.S.
21st October 2019
Global insurance and reinsurance broker Aon is aligning its teams to better serve regional insurers and has announced the launch of its Regional Insurer Group, which currently provides services to regional insurers in the U.S. The global brokerage explains that its Regional Insurer Group is an Aon-wide group designed to increase ... Read the full article
Willis Re’s Jeremy Ginter joins Tremor as VP of Sales
21st October 2019
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has named Jeremy Ginter as its new Vice President of Sales, effective October 28th, 2019. He brings more than 15 years of experience in business development and sales to Tremor, and in his new role, will take responsibility for the oversight, development ... Read the full article
AM Best turns positive on Canopius ratings
21st October 2019
Rating agency AM Best has removed the under review with negative implications status from Canopius US Insurance, Inc. and Canopius Reinsurance AG. At the same time AM Best has affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of both Canopius Group subsidiaries, and ... Read the full article
Davies launches consulting business in Bermuda
21st October 2019
Operations management, consulting and digital solutions provider Davies Group has launched a new compliance & regulatory business in Bermuda. Davies Consulting (Bermuda) will provide insurance operations and consultancy solutions for insurance intermediaries and re/insurers. Davies says this new business will also deliver advisory and operations support for businesses looking to enter the ... Read the full article
Lloyd’s & Habitat for Humanity GB target braver, more resilient communities
21st October 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has entered into a new partnership with Habitat for Humanity Great Britain, designed to help create braver and more resilient communities in climate risk areas. The Lloyd's Charities Trust has launched the new disaster resilience partnership with Habitat for Humanity Great Britain, ... Read the full article
Munich Re sees new possibilities for managing risk in data & AI
21st October 2019
Reinsurer Munich Re sees data analytics and artificial intelligence as key tools to open up new possibilities for managing and covering risk, and for supporting insurers across the entire value chain. “At Munich Re, our goal is to pioneer digital solutions for the insurance industry,” said Doris Höpke, Member of the ... Read the full article
Karl Wall launches new reinsurance run-off provider, The Carrick Group
21st October 2019
Karl Wall, who previously served as President and Chief Executive Officer (CEO) of Enstar (US) Inc., has announced plans to launch a new international non-life legacy business called The Carrick Group. The Carrick Group will initially be based in the U.S., UK, and Bermuda, and will provide reinsurance and run-off management ... Read the full article
Reinsurance leaders reflect on Industry 4.0 readiness at Baden-Baden
21st October 2019
At a symposium hosted by reinsurance brokerage Guy Carpenter at this year’s Baden-Baden conference, senior re/insurance figures provided a range of insights into the industry’s readiness to adapt and harness the benefits inherent to the tech-driven Industry 4.0. With the needs of clients in constant flux and business efficiency and interconnectedness ... Read the full article
Berkshire (BHSI) enters Australian surety market
21st October 2019
Berkshire Hathaway Speciality Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced its entry into the Australian surety market, and has appointed Jonathan Griffiths as Head of Surety, Australia. Currently, BHSI provides surety products in the U.S., Canada, UK & Europe, and Asia. The new offering in Australia will ... Read the full article
Swiss Re names Kaspar Mueller as President of Reinsurance, LatAm
21st October 2019
Global reinsurer Swiss Re has announced the appointment of Kaspar Mueller as President of Reinsurance for Latin America, effective November 1, 2019. Mueller currently works for Swiss Re as Chief Operating Officer (COO) of Reinsurance, and has spent a total of 13 years with the company. In his new Miami-based role, he ... Read the full article
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