Reinsurance News
Former TMR CEO Ruoff to join ILS specialist Schroder Secquaero
4th September 2019
Insurance-linked securities (ILS) fund manager Schroder Secquaero, has announced that Stephan Ruoff, former CEO at Tokio Millennium Re (TMR), is set to join the company as Deputy Head in November. Ruoff served as Group CEO of TMR from April 2015 to March 2019, having joined the company as CEO for Continental ... Read the full article
CCR Re sustains top line growth in H1, with ratings affirmed by AM Best
4th September 2019
CCR Re has reported that its gross written premiums increased by 16% to €441 million during the first half of 2019, which helped contribute to a stable net income of €17 million. The result builds on the momentum seen in 2018, when the company increased its top line by 17%, with ... Read the full article
Marsh appoints senior leaders for Property and FINPRO practices
4th September 2019
Global re/insurance brokerage Marsh has announced the appointments of Michael Rouse as head of US Property and Michelle Sartain as head of Financial and Professional Liability (FINPRO) for the US and Canada. Effective immediately, Rouse will now assume leadership of Marsh’s US Property Practice from Duncan Ellis, who has left the ... Read the full article
SCOR to invest €250m in tech-focused ‘Quantum Leap’ strategy
4th September 2019
Global reinsurer SCOR has launched its new 'Quantum Leap' strategy, a two-and-a-half year plan which emphasises the integration of technology, as the company looks to create the "reinsurance company of tomorrow.” This new strategy is SCOR’s seventh since 2002, and follows the ‘Vision in Action’ plan implemented in 2016. Over the period ... Read the full article
Marsh’s Duncan Ellis to join AIG as Head of Retail Property, NA General Insurance
4th September 2019
Global insurer American International Group (AIG) has appointed Duncan Ellis as Head of Retail Property, North America General Insurance, based in New York and reporting to Ken Riegler, President of North America General Insurance, Product & Field Management. Ellis joins the firm in late September from global re/insurance broker Marsh, where ... Read the full article
Dedicated reinsurance capital up 8% to $559bn in H1 2019: Willis Re
4th September 2019
Global reinsurance broker Willis Re, the reinsurance arm of brokerage Willis Towers Watson, has reported that total, dedicated reinsurance capital increased by 8% in the first-half of 2019 to $559 billion, compared with $518 billion at the end of 2018. According to the reinsurance broker's latest Reinsurance Market Report, the largest ... Read the full article
Hurricane Dorian a little weaker, but still set to skirt Florida coast
3rd September 2019
Hurricane Dorian has weakened slightly today after spending around 24 hours parked over the Bahamas where it has caused significant devastation. Reports suggest as many as 13,000 residential properties in the Bahamas have been damaged or completely destroyed, while reports of lives lost are beginning to come in. The islands face a ... Read the full article
Pioneer Underwriters names Hazel Beveridge as Chief Actuary
3rd September 2019
Pioneer Underwriters, the underwriting group within Minova Insurance Holdings Ltd, has named Hazel Beveridge as Chief Actuary. Effective September 1st, 2019 Beveridge will join the firm's Executive Committee and reports to Pioneer's Chief Executive Officer (CEO), Andrew McMellin. She brings more than 20 years of pricing and reserving experience to the role, ... Read the full article
Chris Beazley named Head of Reinsurance at MS Amlin as James Few departs
3rd September 2019
Global insurer and reinsurer MS Amlin has announced that Chris Beazley, Chief Executive Officer (CEO) of MS Amlin AG, will take on the additional role of Head of Reinsurance, replacing James Few. The expansion of Beazley's leadership role to include all of MS Amlin's reinsurance business is effective immediately, and sees ... Read the full article
Validus’ Jonathan Ritz appointed President of Aspen
3rd September 2019
Bermudian insurer and reinsurer Aspen Insurance Holdings Limited has announced the appointment of Jonathan Ritz as its President, effective immediately. Formerly, Ritz was Chief Executive Officer (CEO) of Validus' US Insurance operations, including Western World Insurance Group, Crop Risk Services and Validus Specialty, all of which were acquired by AIG in ... Read the full article
BGC Insurance adds JLT’s Bruce Fine to aviation re/insurance brokerage
3rd September 2019
BGC Insurance Group (BGCI), a division of broker and fintech firm BGC Partners, has announced the addition of Bruce Fine to its new global aviation and space re/insurance brokerage. Based in Atlanta and Chicago, Fine will serve as Managing Partner for US Aviation and Aerospace, as well as President of the ... Read the full article
Reinsurance profitability remains subdued but outlook still stable, says Fitch
3rd September 2019
Fitch Ratings has provided a stable outlook for the global reinsurance sector for 2020, largely driven by subdued profitability, historically low risk-adjusted prices and low investment yields persisting amid a weak global economic outlook. The rating agency adds that the outlook is partly down to the high quality of its ratings ... Read the full article
Fidelis Underwriting adds marine experience to London underwriting team
3rd September 2019
Bob Clarkson has joined the London underwriting team of Fidelis Underwriting Limited, a subsidiary of Bermuda-based Fidelis Insurance Holdings Limited. His appointment comes as part of the group's strategic initiative to continue to develop its focused offering of specialty insurance solutions. Clarkson brings three decades of industry experience to the role, as ... Read the full article
Stable reinsurance outlook underpinned by pricing & capital: Moody’s
3rd September 2019
Rating agency Moody’s has maintained its stable outlook for the global reinsurance industry going into 2020, with strong capitalisation and rising prices offset by low interest rates and falling reserve releases. Analysts at the firm noted that reinsurers’ regulatory and economic capital has remained resilient thanks to increased use of retrocession, ... Read the full article
Liberty promotes Alice Blake in Bermuda reinsurance build-out
3rd September 2019
Liberty Mutual Re, part of the Liberty Mutual Insurance Group, has announced the promotion of Alice Blake to the role of Senior Underwriter – Financial Risks Reinsurance. Based in Bermuda, her appointment comes as part of a push to build out Liberty Mutual Re’s reinsurance operations on the island. Blake will also ... Read the full article
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