Reinsurance News
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
Marsh JLT Specialty bolsters aviation practice in both London & New York
8th October 2019
Global insurance and reinsurance brokerage, Marsh, has announced a number of appointments to the Aviation Practice in London and New York within Marsh JLT Specialty. Based in London, Tony Ambrose and Martyn Holland are set to join as Managing Directors and will report to Andy Smith, Chairman and Chief Executive Officer ... Read the full article
Rothesay Life in £2.8bn pension buy-in deal with National Grid UK
8th October 2019
Rothesay Life, the specialist insurer of defined benefit pension schemes, has concluded a £2.8 billion buy-in transaction with the National Grid UK Pension Scheme. The deal is expected to provide more certainty for the National Grid UK around the impact of changes in life expectancies. It also removes financial risks such as ... Read the full article
Arch expecting up to $75m cat loss for third quarter
8th October 2019
Bermuda-based re/insurance provider Arch Capital Group is expecting a pre-tax catastrophe hit of between $65 million and $75 million for the third quarter of 2019. The company says this cat loss figure, which is net of reinsurance recoveries and reinstatement premiums, is primarily driven by hurricane Dorian and typhoon Faxai. Dorian made ... Read the full article
Ascent appoints cyber underwriters from Beazley & Equinox
8th October 2019
Ascent Underwriting, the cyber and specialty lines MGA and a founding partner of Optio, has announced the appointment of cyber underwriters Kieran Shiret and Henry Rydon. Shiret and Rydon previously held underwriting roles at Beazley and Equinox, respectively. They are expected to bring additional cyber expertise and experience to Optio, particularly in ... Read the full article
Lockton adds Marsh’s Tom Orrico as SVP, MD of financial institutions
8th October 2019
Global re/insurance brokerage Lockton has announced the appointment of Tom Orrico to the role of senior vice president, managing director of financial institutions. Orrico brings 28 years’ experience to the role and joins from Marsh, where he built and led the financial institutions practice. Effective October 14, he will be based in ... Read the full article
Globe adds David Dymond as Head of Marine & Transport
8th October 2019
Globe Underwriting, the UK-based managing general agent part of the BGC Insurance Group, has announced the appointment of David Dymond as Head of Marine and Transport, effective immediately. For the last three years, Dymond has served as Head of Underwriting for Marine and Transport at Globe. His appointment follows the retirement of ... Read the full article
Munich Re expands partnership with AI-powered fraud insurtech FRISS
8th October 2019
Global reinsurer Munich Re has extended its partnership with FRISS, an AI-powered fraud and risk solution provider for the property & casualty insurance sector. This move will see Munich Re and FRISS build on work that has already been done in Latin America and Iberia, offering fraud and risk mitigation support ... Read the full article
Collateralised reinsurance still dominant despite cat setbacks: AM Best
7th October 2019
The collateralised reinsurance market remains the fastest-growing segment of the insurance-linked securities (ILS) industry despite significant investor losses from 2017 and 2018 catastrophe events, according to a new AM Best report. At year-end 2018, AM Best says market capitalisation of the collateralised reinsurance market was approximately $56 billion out of an ... Read the full article
CRC Group enhances Risk Evaluation Database platform
7th October 2019
US wholesale broker CRC Group has released new functionality for its Risk Evaluation Database (REDY) platform. REDY.Search will combine the knowledge of individual CRC brokers and underwriting with the company’s exposure and loss information to identify market and programs with the highest likelihood to write an account. It will deliver recommendations based ... Read the full article
Declining profitability a concern for African reinsurers, says report
7th October 2019
The continued rise in protectionism remains the top concern for African reinsurers, while declining rates and rising claims add further pressure on the profitability of the African reinsurance markets, reports Dr. Schanz, Alms & Company in the 4th Africa Reinsurance Pulse. The latest edition of the Africa Reinsurance Pulse was published ... Read the full article
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