Reinsurance News
Technology won’t replace relationships in reinsurance: Hvidsten, Willis Re
10th September 2019
The important role technology plays in brokers’ service offering is set to increase and while it can and will help to improve efficiency, it’s unlikely to disrupt the reinsurance broking market, says Deputy Chairman of Willis Re, Mark Hvidsten. Technology continues to advance at a rapid pace and is increasingly influencing ... Read the full article
Dorian could drive industry loss of $6.5bn in the Caribbean, says RMS
10th September 2019
Hurricane Dorian is likely to drive an insured loss of between $3.5 billion and $6.5 billion in the Caribbean, according to estimates from risk modelling and analytics firm RMS. The estimate represents insured losses from wind and storm surge damage across the Caribbean, but most notably in the Bahamas, parts of ... Read the full article
Marsh appoints Andy Smith as Chairman, CEO of UK Aviation practice
10th September 2019
Global re/insurance brokerage Marsh has announced the appointment of Andy Smith as Chairman and Chief Executive Officer of its UK Aviation Practice within Marsh JLT Specialty. He will be based in London and reports to Paul Moody, UK CEO, Marsh JLT Specialty, and Simon Harker, Global Head of Aviation, Marsh JLT ... Read the full article
Evidence for rapid climate change “absolutely compelling”, says Kessler
10th September 2019
Denis Kessler, the Chairman and Chief Executive Officer of French reinsurer SCOR, has described the evidence for rapid climate change as “absolutely compelling” and called on the industry to share expertise. His comments, delivered at a conference this morning at the international rendez-vous of insurance and reinsurance, detailed the extent of ... Read the full article
Sirius Group names Florian Boecker as Head of Life Reinsurance
10th September 2019
Sirius Group, the global multi-line re/insurer, has announced the appointment of Florian Boecker to the newly created role of Head of Life Reinsurance. Boecker most recently served as Chief Solutions Officer for Life & Health at PartnerRe, based in Zurich. He has more than two decades of experience as an actuary and ... Read the full article
Beazley bolsters healthcare team with underwriter Andrew Page
10th September 2019
Specialist insurer Beazley has appointed Andrew Page to its international healthcare team to write a range of international miscellaneous medical risks outside the US. He joins from Beazley’s political, accident & contingency team, where for more than eight years he underwrote political violence risks in both Singapore and London. Page will now ... Read the full article
Tech, analytics can address terror, political violence risk challenges: Guy Carpenter
10th September 2019
Guy Carpenter, the reinsurance arm of Marsh, has underlined the important role technology and analytics play in addressing challenges across the terrorism risk landscape. The reinsurance broker argues that terrorism, political violence and other malicious acts are both dynamic and adaptive, with human intent driving profitability while also willing the impacts ... Read the full article
Gallagher adds Brent Kruger as UK CIO
10th September 2019
Global insurance brokerage Gallagher has announced the appointment of Brent Kruger as UK Chief Information Officer, a role he will take up in early November. Kruger, who brings over 25 years’ experience to the role, will be responsible for setting the strategic direction of the firm’s UK technology division. He joins from ... Read the full article
Hudson Insurance recruits head of wholesale casualty unit from Navigators
10th September 2019
Hudson Insurance Group has appointed of Joseph Savarese to lead its wholesale casualty business unit, encompassing both primary general liability and excess liability. Savarese most recently served as president of the primary casualty department at Navigators Specialty Insurance Company. He has decades of experience in the industry, with previous roles covering primary ... Read the full article
For protection gaps, the key issue remains demand: Vickers, Willis Re
10th September 2019
When it comes to closing much-discussed protection gaps the insurance and reinsurance industry cannot work alone and must partner with other organisations to help to increase demand for protection, according to James Vickers of Willis Re. The Willis Re International Chairman told us in an interview that “reinsurance alone cannot help ... Read the full article
New Dawn Risk hires Dermot Dick as Head of Treaty Production
10th September 2019
New Dawn Risk Group Limited, an independent specialist intermediary for non-marine liability and specialty insurance and reinsurance, has announced the appointment of Dermot Dick as Head of Treaty Production. Prior to joining New Dawn, Dick was Chief Underwriting Officer (CUO) at Emirates International. He has also previously served as Senior Vice President ... Read the full article
Reinsurance pricing is still too low, says Swiss Re CEO Mumenthaler
10th September 2019
Christian Mumenthaler, Chief Executive Officer (CEO) at Swiss Re, believes pricing in the property and casualty (P&C) reinsurance sector is still at an unacceptable level despite improvements over the last two years. Mumenthaler told Reinsurance News in a recent interview that he was confident the market would continue to bring pricing ... Read the full article
Beazley announces the launch of Virtual Care
10th September 2019
Specialist insurer Beazley has announced the launch of Virtual Care, a new package of protection which provides comprehensive cover against the risks linked with providing technology-enabled healthcare and lifestyle management services in the UK. Beazley explains that a variety of new technologies underpin the digital health market, from telehealth, which enables ... Read the full article
Gossmann & Cie’s Munich Re backed ExPRO demonstrates reduction in cost of capital
10th September 2019
Expiring Policy Roll-Over (ExPRO), the previously announced legacy product from Gossmann & Cie., which is backed by reinsurer Munich Re, has been piloted in selected insurance portfolios over the last months and has demonstrated a reduction in cost of capital. Announced in the second-half of last year, ExPRO allows the ongoing ... Read the full article
PartnerRe CEO optimistic on market, sees private capital model as competitive advantage
9th September 2019
Emmanuel Clarke, the President and CEO of reinsurance firm PartnerRe, told us he is optimistic on market conditions, seeing the potential for rates to continue firming into 2020. Clarke also explained to us in a recent interview that he feels PartnerRe’s privately-owned capital model is a true competitive advantage, enabling the ... Read the full article
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