Reinsurance News
Marsh collaborates with Zurich NA on pet insurance program
9th October 2019
Global re/insurance brokerage Marsh has announced the launch of a new pet insurance program for cats and dogs in the US, to be underwritten by Zurich North America. The program, called TrustedPals, is backed by Marsh’s Bluestream platform and will offer insurance with flexible co-payments, limits and deductibles. A self-service feature driven ... Read the full article
James River to cut short policies for Uber subsidiary Rasier
9th October 2019
James River Group Holdings, the Bermuda-based insurance holdings company, has announced the early cancellation of all insurance policies issued to its largest customer, Rasier LLC, and its affiliates. Founded in 2013, Rasier is a wholly owned subsidiary of Uber Technologies, the popular ridesharing company. The cancellation will be effective from December 31, ... Read the full article
Push for low cost networks could result in catastrophic supply chain risk: Report
9th October 2019
Some businesses might well be ignoring or failing to see concentrations of risk in their supply chain amid a desire for low cost networks, according to a new report from Airmic, in collaboration with AIR Worldwide, Gallagher, HDI, Lloyd's of London, and Sedgwick. The report, Complex Supply Chains in a Complex ... Read the full article
FCA measures could hit UK motor & home insurers’ profits: Fitch
9th October 2019
New measures proposed by the Financial Conduct Authority (FCA) following a report on competition in the UK motor and home insurance markets could impact profits in 2020, according to analysts at Fitch Ratings. Last week, the UK regulator raised concerns that competition was not working well for all consumers, estimating ... Read the full article
BMS secures investment from major financial institutions
8th October 2019
UK headquartered brokerage BMS Group has announced the completion of its equity investment from British Columbia Investment Management Corporation (BCI) and Preservation Capital Partners (PCP). First announced back in June 2019, the investment valued BMS at £500 million (US $636 million). Following the investment, management and staff of BMS will maintain ... Read the full article
Risk Strategies’ Mina named CEO as Christian takes on Executive Chairman role
8th October 2019
U.S. domiciled insurance broker and risk management firm, Risk Strategies, has revealed that its President, John Mina has been appointed Chief Executive Officer (CEO). Mina succeeds Risk Strategies founder and long-term CEO, Michael Christian, who is moving into the Executive Chairman role. Mina joined the company in April of 2017 from re/insurance ... Read the full article
Gov’s contribution to insured losses under TRIA would decline over time, says report
8th October 2019
If the September 11th, 2001 attacks on the World Trade Centre were to happen today, the implementation of the Terrorism Risk Insurance Act (TRIA) would see the government's net payout fall below zero, according to the Insurance Information Institute (Triple-I). Analysis by Triple-I, which leverages data and analysis from the Reinsurance ... Read the full article
RGAX partners with Mutual of Omaha on blockchain-powered workflows
8th October 2019
RGAX, a subsidiary of Reinsurance Group of America, Incorporated, has partnered with primary carrier Mutual of Omaha to explore reinsurance workflows powered by blockchain technology. The parties completed a proof of concept that the allowed them to experiment with the automation of reinsurance transaction using distributed ledger and smart contract technology. The ... Read the full article
R&Q finalises takeover of Sandell Holdings & reinsurance subsidiary
8th October 2019
Randall & Quilter II Holdings Limited, a subsidiary of Randall & Quilter Investment Holdings Ltd. (R&Q), has completed its acquisition of Sandell Holdings Limited along with its reinsurance subsidiary, Sandell Re Ltd. R&Q previously announced back in July 2019 that it planned to purchase the entire issued share capital of ... Read the full article
Tremor enhances risk transfer marketplace with new features
8th October 2019
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has announced that a suite of new features will be made available in version 2.0 of its programmatic marketplace from November. Features include new quoting tools that allow cedants and reinsurers to more precisely express their terms, aggregate reports that offer insight ... Read the full article
Resolution Re names Steve Hales as its new CEO
8th October 2019
The reinsurance arm of Bermuda-based Resolution Life Group, Resolution Re, has announced the appointment of Steve Hales as Chief Executive Officer (CEO). Hales joined Resolution Life Group in 2017 as Executive Director in Europe, and prior to this, served as Group Head of Connected Insurance at Assicurazioni Generali where he led ... Read the full article
AXA Singapore adds three to leadership team
8th October 2019
AXA Insurance Singapore, part of AXA Group, has announced the appointments of Jeremy Ong as Chief Customer & Operations Officer, Julien Callard as Managing Director of Retail, and Mauricio Coarasa as Chief Financial Officer. As Chief Customer & Operations Officer, Ong will lead several strategic priorities for the organisation focusing on ... Read the full article
Christopher Harris to advise HSCM Bermuda’s re/insurance strategy
8th October 2019
Hudson Structured Capital Management, the insurance-linked securities, reinsurance and transportation focused investment manager, has appointed Christopher Harris as an advisor focused on HSCM Bermuda’s re/insurance strategy. Harris joins the investment manager, which conducts its insurance and reinsurance business as HSCM Bermuda, with over 25 years’ experience. He is currently an independent director ... Read the full article
Korean Re’s Swiss branch opts for Synergy2 platform from Eurobase
8th October 2019
Korean Re Switzerland, the recently established Swiss subsidiary of the Seoul-based reinsurer, has selected the Synergy2 platform from Eurobase to support its end-to-end reinsurance operations. The reinsurer set up its branch in Zurich in June 2019 as part of a push to expand into the European reinsurance market. Eurobase is an ... Read the full article
Sagicor Life acquires portfolios from CLICO & British American Trinidad
8th October 2019
Sagicor Life, a subsidiary of Caribbean financial services provider Sagicor, has announced the acquisition of traditional insurance portfolios from Colonial Life Insurance Company (Trinidad) Limited (CLICO) and British American Insurance Company Trinidad Limited (BAT). The insurance policies assumed will consist of a combination of ordinary long-term life insurance policies, including universal ... Read the full article
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