Reinsurance News
Property underwriting improvements to continue through early 2020: Lockton
10th October 2019
Analysts at global re/insurance brokerage Lockton expect the more discerning approach of underwriters in the US property market to continue through at least into early 2020, based on performance this year. Lockton noted that there is still plenty of capital in the marketplace, but deployment is becoming tighter, leading to an ... Read the full article
EIOPA adds members to Insurance & Reinsurance Stakeholder Group
10th October 2019
The European Insurance and Occupational Pensions Authority (EIOPA) has announced the appointment of Liane Hirner and Desislav Danov as members of its Insurance and Reinsurance Stakeholder Group (IRSG). EIOPA consults its stakeholder groups on action concerning regulatory technical standards and their implementation. Members of stakeholder groups can also submit opinions and advice ... Read the full article
Aspen appoints Mauro Signorelli as Head of International Cyber
9th October 2019
Aspen Insurance, the insurance arm of Bermudian re/insurer Aspen Insurance Holdings Limited, has announced the appointment of Mauro Signorelli as Head of International Cyber. Mauro previously worked as Senior Underwriter, Technology Liability and Cyber Risk Insurance at Aspen Insurance, having joined the company in February 2017. Prior to this, he spent five ... Read the full article
£70 billion of longevity deals completed by FTSE 100 companies: Aon
9th October 2019
More than one-third of FTSE 100 companies with defined benefit (DB) pension schemes have taken steps to remove longevity risk via bulk annuities and longevity swap transactions, reports global insurance and reinsurance broker, Aon. To date, £70 billion of completed longevity risk transactions by FTSE 100 firms have taken place, with ... Read the full article
Argo issued SEC subpoena over exec compensation
9th October 2019
Specialty re/insurer Argo has been subpoenaed by The US Securities and Exchange Commission over compensation practices for its executives, and is now conducting an internal review. This development is the latest chapter in what started as a messy back-and-forth between Argo and its fourth-largest shareholder Voce Capital Management. The public ... Read the full article
Munich Re US names Anita Kuchma COO, Reinsurance Division
9th October 2019
Munich Reinsurance America, Inc. (Munich Re US), a subsidiary of reinsurance giant Munich Re, has appointed Anita Kuchma as Chief Operations Officer (COO) of the Reinsurance Division. In her new role, Kuchma will report directly to Steve Levy, President and Chief Executive Officer (CEO) of the Reinsurance Division at Munich Re ... Read the full article
AIG names John Panagakis as CEO of First Principles Capital Management
9th October 2019
American International Group, Inc. (AIG) has announced the appointment of John Panagakis as Chief Executive Officer (CEO) of First Principles Capital Management, LLC (FPCM). Acquired in 2015, FCPM is a unit of AIG Investments that serves institutional clients with expertise across the global fixed income securities and derivatives markets. Panagakis joins the ... Read the full article
P&C rate increases climb to 4% in third quarter: MarketScout
9th October 2019
US property and casualty (P&C) insurers continued to see rate increases in almost every industry and line of coverage during the third quarter of 2019, according to analysts at MarketScout. The composite rate increase in Q3 was 4%, climbing from 3% in the previous quarter. By line of coverage, auto underwriters increased ... Read the full article
Aon sets up global wholesale reinsurance committee
9th October 2019
Aon’s Reinsurance Solutions business has announced the establishment of its new Global Wholesale Committee, based in London. The committee will be tasked with enhancing client services and supporting Aon’s relationships within London and the broader wholesale reinsurance market. Bill Fearnley-Whittingstall, Head of the Americas Division in London for Aon’s Reinsurance Solutions business, ... Read the full article
Need for pricing discipline growing across Asia Pacific P&C sector
9th October 2019
Pricing discipline is becoming increasingly important for property and casualty (P&C) insurers operating across the Asia Pacific region in light of intense competition and robust premium growth, according to industry specialists. Speaking at a seminar organised by Saudi Re in Kuala Lumpur, Malaysia recently, insurance and reinsurance industry experts from across ... Read the full article
Agam Capital sets up joint life venture with investment firm Värde Partners
9th October 2019
Agam Capital, a New Jersey-based insurance solutions provider, has announced plans to form a joint life and retirement venture with alternative investment firm Värde Partners. The parties said they have entered an agreement to pursue the acquisition, reinsurance and management of life and retirement businesses globally. The venture will price and manage ... Read the full article
Ethos adds Brett Wilson as VP of Risk, Actuarial
9th October 2019
Ethos, a life insurtech backed by Munich Re and Assurity Life, has expanded its executive team with the appointment of Brett Wilson as its first Vice President of Risk & Actuarial. Wilson brings nearly two decades’ experience to the role and joins from Old Mutual’s Latin American division, where he served ... Read the full article
Talanx partners with intelligent automation firm WorkFusion
9th October 2019
Talanx Group, the parent of reinsurance giant Hannover Re, has entered into a strategic partnership with New York-based intelligent automation and robotic process automation software firm, WorkFusion. It’s hoped the agreement will accelerate end-to-end digitisation of core business processes, starting with HDI Germany. “We are thrilled to partner with Talanx Group and ... Read the full article
Brokerslink bolsters European operations with new steering team
9th October 2019
Independent broker network Brokerslink has established a European steering team to support its operations in the region. The steering team will be tasked with supporting the global expansion of the Brokerslink network and strengthening communications between European brokers. It will also help to develop niche products and new services with Brokerslink’s partner ... Read the full article
CFC targets improved incident response capabilities with acquisition
9th October 2019
London headquartered specialist insurer, CFC, has expanded its in-house cyber incident response capabilities with the acquisition of Texas-domiciled incident response provider, Solis Security. CFC's large in-house cyber claims and incident response team has handled almost 1,500 cyber claims this year alone. Now, with the addition of Solis Security, CFC has deepened ... Read the full article
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