Reinsurance News
Gen Re’s Paul Houska joins Holborn as SVP, Kansas City branch
17th September 2019
U.S. domiciled reinsurance broker, Holborn Corporation has announced the addition of Paul Houska as a Senior Vice President (SVP) in its Kansas City office, effective immediately. Houska brings more than 30 years of reinsurance industry experience to the role, and will take on responsibility for the enhancement of the reinsurance broker's ... Read the full article
Re/insurers appeal for extension to “vital” terrorism insurance act
17th September 2019
A coalition of insurers and reinsurers have penned a letter to members of the US Congress, urging them to pass a long-term reauthorisation of the Terrorism Risk Insurance Act (TRIA), which is currently set to expire at the end of 2020. The appeal described the act as a “vital public-private risk ... Read the full article
A slow return to a more normal ILS environment: Willis Re Securities
17th September 2019
Data and analysis from Willis Re Securities, a division of re/insurance broker Willis Towers Watson (WTW), reveals that non-life insurance-linked securities (ILS) issuance fell in the second-quarter of 2019. At just under $1.7 billion, non-life ILS capacity issued in the quarter came from 11 catastrophe bond transactions, and fell from the ... Read the full article
Lloyd’s to launch Miami office
17th September 2019
The specialist Lloyd's of London insurance and reinsurance marketplace has announced a number of changes to its setup in the Latin America (LatAm) region, which includes the establishment of an office in Miami to support and grow LatAm and Caribbean markets. In an email to the LatAm market, Director General, Daniel ... Read the full article
AXIS Insurance Chief Claims Officer to retire, successor announced
17th September 2019
AXIS Insurance, the insurance business segment of AXIS Capital, has announced that its Chief Claims Officer David Hayward will be retiring in March 2020 after 17 years at the company. After the six month transition period he will be succeeded by current head of North American Claims Michael Baumel, who has ... Read the full article
Insurdata recruits Head of Client Success from Allianz
17th September 2019
Insurdata, an insurtech firm specialising in peril-specific exposure and risk data, has announced the appointment of Rosina Smith to the newly created role of Head of Client Success. Smith joins Insurdata from Allianz, where she most recently served as Acting Head of Commercial Lines Pricing in the UK. She spent seven years ... Read the full article
AXA XL develops digital hot wallet insurance
17th September 2019
AXA XL, the property and casualty and Specialty Risk division of AXA, has designed a bespoke contractual liability insurance coverage tailored for a digital "hot" wallet product offered by Hoyos Integrity Corporation, a company specialising in biometrically secured products and applications. A hot wallet refers to a cryptocurrency wallet that is ... Read the full article
Concirrus announces new cargo data analytics solution
17th September 2019
London-based insurtech firm Concirrus has announced the launch of its new cargo data analytics solution, called Quest Marine Cargo. The solution, which will be available from the first quarter of 2020, will fully integrate with Concirrus’ existing suite of hull and P&I capabilities, allowing customers to manage their marine portfolio under ... Read the full article
JLT staff exits are “not a crisis,” says MMC’s Dan Glaser
17th September 2019
The series of staff defections at Jardine Lloyd Thompson (JLT) following its acquisition by Marsh & McLennan (MMC) earlier this year is “not a crisis,” company CEO Dan Glaser has told the Financial Times (FT). Speaking in an interview with the publication, Glaser said that voluntary employee turnover at JLT since ... Read the full article
Ed names Simon Stovell Divisional Director, Risk Solutions
17th September 2019
Global reinsurance broker Ed has appointed Faraday's Simon Stovell as Divisional Director of its Risk Solutions team, effective immediately. In his new role, Stovell will report to Stephen Louden, Managing Director of Ed's Risk Solutions division. Joining from Faraday, where since 2014 he held the position of Senior Binder Underwriter, Stovell brings ... Read the full article
Cyber risk modeller Kovrr secures $5.5m in funding round
17th September 2019
Israel-headquartered cyber risk modeller Kovrr has raised $5.5 million in a funding round led by StageOne Ventures and Mundi Ventures. Kovrr intends to use the capital on product development and to help accelerate global growth. “Cyber attacks cause billions of dollars of damage and currently affect every category of risk," said Kovrr’s Chief ... Read the full article
AkinovA collaboration makes ILS assets available to ACORD members
17th September 2019
AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, has announced that it has donated key insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the re/insurance industry. The collaboration will mean that AkinovA’s assets will be available to ACORD members as part of the ACORD ... Read the full article
Re/insurers have important role in closing infrastructure gap: Swiss Re
16th September 2019
Collectively, the re/insurance industry possesses the necessary data, risk knowledge and expertise needed to enable vital infrastructure investment across the world’s emerging markets, global reinsurer Swiss Re says. While growing urban populations require substantial investment in infrastructure to enable sustainable growth, there remains a substantial gap, notes Swiss Re. Today, only about ... Read the full article
RSA Group appoints Kevin Thompson as Ireland CEO
16th September 2019
Multinational insurance group RSA has appointed Kevin Thompson to lead its operations in Ireland as Chief Executive Officer. He replaces Ken Norgrove, who is set to become CEO of RSA Group’s Scandinavian business Codan/Trygg-Hansa. Thompson joins the role having spent seven years overseeing Insurance Ireland as CEO. Prior to that he held roles ... Read the full article
P&C focused InsurTech service provider, Combined Ratio Solutions launches
16th September 2019
A new InsurTech service provider focused on the property and casualty (P&C) industry has been launched by industry veterans Luke Magnan and Michael Jones, called Combined Ratio Solutions. Based in Hartford, Connecticut, Combined Ratio, an InsurTech service provider, is focused on delivering technology solutions that create overall value for insurers and ... Read the full article
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