Reinsurance News
Reinsurance pricing momentum to be carried forward in 2020: S&P
16th January 2020
Analysts at S&P Global Ratings believe that the positive reinsurance pricing momentum seen at the recent January renewals is likely to be carried forward into the other upcoming renewals in 2020. According to S&P data, global average rate increases were in the low-to-mid single digits in aggregate at the 1/1 reinsurance ... Read the full article
Allianz bolsters claims supply and experts team with dual hire
16th January 2020
Global insurance giant Allianz has appointed Nathan McLay and Kevin Knight to its claims supply and experts team. McLay, who joined Allianz in 2012, has been appointed to the role of motor engineer services manager, following the retirement of Paul Roberts. He will be responsible for the embedding recent structural and operational ... Read the full article
Premium renewal rates continue to climb in Q4: IVANS
16th January 2020
Premium renewal rates continued to increase during the fourth quarter of 2019 for almost all major commercial lines products, according to the IVANs Index, a division of Applied Systems. The IVANS Index is released on a monthly basis as a data-driven report of current conditions and trends for premium rate renewal ... Read the full article
CorRisk Solutions expands to include CorPro
16th January 2020
Ryan Specialty Group subsidiary CorRisk Solutions has expanded to include the business and management team of CorPro Underwriting Managers. CorPro, a series of RSG Underwriting Managers, will continue to operate as usual to provide the market access to best-in-class Management Liability products. Moving forward, CorRisk will provide professional liability for architects & ... Read the full article
The Hartford’s Kathleen Creedon joins Falvey Cargo Underwriting
16th January 2020
Falvey Cargo Underwriting has announced the appointment of Kathleen Creedon to its team of underwriters. Creedon joins with over 20 years’ experience and most recently served at The Hartford. Based in Denver, Colorado, she will be responsible for managing and developing a cargo insurance portfolio which includes underwriting management, production, and broker/client-centric ... Read the full article
DARAG concludes reinsurance arrangement with Lloyd’s Syndicate
15th January 2020
Legacy acquirer, DARAG Group Limited has today announced the completion of a transaction with a leading Lloyd's of London syndicate, to provide reinsurance for a book of U.S. liability business. Under the terms of the agreement, DARAG'S Malta-based risk carrier, DARAG Malta Insurance and Reinsurance PCC Ltd., will provided the reinsurance. Tom ... Read the full article
Fairfax Brasil partners with Farmers Edge on data-driven crop insurance
15th January 2020
Fairfax Brasil, a wholly-owned subsidiary of Canada's Fairfax Financial Holdings Limited, has collaborated with digital agriculture firm, Farmers Edge, to bring bespoke, data-driven crop insurance to growers in Brazil. This landmark partnership between the two companies is expected to create new opportunities for growers to capitalise on their data with premium ... Read the full article
Arch promotes Chris Hovey to COO
15th January 2020
Arch Capital Group Ltd. has announced that Chris Hovey, previously Executive Vice President (EVP), Chief Information Officer (CIO) at Arch Capital Services Inc., has been promoted to Chief Operations Officer (COO), Arch. Hovey has been with Arch since January 2014, initially serving as COO of Arch Mortgage Insurance Company through to ... Read the full article
Fathom collab opens US flood model to public
15th January 2020
UK-based flood risk modeller Fathom has announced its participation in a US partnership that will open flood mapping and coastal risk data analysis to the public. Fathom joined US Non-Profit organisation First Street Foundation to produce a comprehensive flood and coastal risk analysis of the US. The data will be used to ... Read the full article
Lars Forsstedt rejoins Aon’s Nordic M&A team
15th January 2020
Global insurance and reinsurance brokerage Aon has announced that Lars Forsstedt has re-joined its Nordic team from Willis Towers Watson (WTW). Forsstedt has been appointed to Aon's Nordic M&A and Transaction Solutions team, joining from WTW where from October 2017 he served as Practice Leader, Private Equity - Nordics. He first joined ... Read the full article
Chubb makes changes to European leadership team
15th January 2020
Insurer and reinsurer Chubb has announced a number of changes within its European leadership team, including the appointment of Nadia Côté as Head of Major Accounts Division for Europe, succeeding Suresh Krishnan. Krishnan takes on the role as Chief Operating Officer (COO) of Chubb North America Accident and Health. In his new ... Read the full article
S&P remains stable on US P&C insurance
15th January 2020
Rating agency S&P has maintained its stable outlook on the US property and casualty (P&C) sector going into 2020, with strong capitalisation and pricing momentum offset by weakening reserves and concerns around loss emergence. Capital in the P&C industry keeps reaching record highs, with analysts estimating that US insurers had a ... Read the full article
Ed Bermuda names Colin Kelley as Head of Liability Division
15th January 2020
Global reinsurance brokerage Ed has announced the appointment of Colin Kelley as Head of its new Liability Division in Bermuda. Effective immediately, he will lead the professional lines, casualty and healthcare teams for Ed Bermuda. Kelley joins Ed from Sompo International, where he has held the role of Commercial Lines Practice Leader, ... Read the full article
AXA Hong Kong launches chronic disease management service
15th January 2020
The Hong Kong division of global re/insurer AXA has launched a new program designed to provide mitigation and treatment services for chronic diseases. ‘AXA Chronic Disease Management Programme' collaborates with CUHK Medical Clinic, Hong Kong Diabetes Specialist Centre, HKSH Medical Group and Virtus Medical Group. A registered medical practitioner will be assigned ... Read the full article
One80 Intermediaries acquires Vista Underwriting Partners
15th January 2020
Boston-based national wholesale insurance broker and program manager, One80 Intermediaries, has acquired Vista Underwriting Partners, a full service managing general underwriter of medical stop loss insurance. Vista is headquartered in Media, Pennsylvania, and was established in 2007 as a specialty underwriter of medical stop loss insurance coverage for corporate clients and ... Read the full article
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