Reinsurance News
Insurtech start-up fund Brewer Lane Ventures launches
10th January 2020
Brewer Lane Ventures, a fund focused on investing in insurtech start-ups, has announced its launch, and the appointment of key members of its team. The company was founded by John Kim, the former President and Chief Investment Officer at New York Life Insurance Company. Also joining Brewer Lane Ventures is Managing Partner ... Read the full article
Insured bushfire losses jump to $645mn in Australia
10th January 2020
Re/insurance industry losses from the catastrophic bushfires still burning through southeastern Australia continue to increase, with the Insurance Council of Australia (ICA) now estimating total insured losses at US $645 million (AU $939 million). The new figure represents a jump of 33% compared with the ICA’s previous loss estimate on ... Read the full article
A disciplined renewals despite market challenges, says Aon
10th January 2020
Global insurance and reinsurance broker Aon has said that in spite of new market dynamics, programs renewed in an orderly fashion at the January 2020 reinsurance renewals season. Aon's January 2020 Reinsurance Market Outlook report highlights an orderly renewals season in most regions, adding that this occurred despite the impacts of ... Read the full article
Downstream continues to lead hardening energy market: Marsh JLT Specialty
10th January 2020
Downstream continues to see the largest rate increases in an overall hardening energy re/insurance market, according to Marsh JLT specialty, although there are signs that the upstream sector could soon step up a gear. Analysts noted that market correction efforts accelerated relentlessly for downstream energy across all regions in the fourth ... Read the full article
New Dawn Risk recruits Head of Management Liability & Financial Institutions
10th January 2020
New Dawn Risk Group Limited, an independent specialist intermediary for non-marine liability and specialty insurance and reinsurance, has announced the appointment of Nicky Stokes as Head of Management Liability and Financial Institutions. Stokes joins the company from Liberty Specialty Markets in Dubai, where she was AVP, Professional Indemnity. In this role, she ... Read the full article
Dale launches accident & health underwriting offering
10th January 2020
Dale Underwriting Partners has launched its new accident and health (A&H) offering with the appointments of Steve Lawson and Lauren Meredith. Lawson and Meredith, who both join Dale from HDI Specialty, will comprise the new A&H underwriting team. Together, the two new hires bring 45 years of experience in underwriting A&H business. The ... Read the full article
Charles Taylor Adjusting names P&C Asia CEO
10th January 2020
Charles Taylor Adjusting (CTA), a division of insurance-related services provider Charles Taylor, has named Wee Loon Yong as Chief Executive Officer (CEO) Asia, Property & Casualty, based in Singapore. The firm states that the appointment of Yong underlines the significant growth opportunities in Asia and the company's commitment to serve its ... Read the full article
AIG, Prudential & Principal reportedly discussed Voya takeover
9th January 2020
The Financial Times has reported that re/insurance giant AIG, life insurer Prudential Financial and asset manager Principal Financial Group were among the companies interested in acquiring U.S. retirement plan provider, Voya Financial. According to people briefed on the matter, says the Financial Times, Voya held discussions with AIG, Prudential, Principal Financial ... Read the full article
Suncorp states that bushfire losses could hit its reinsurance as claims soar
9th January 2020
Suncorp Group has announced that it has received more than 2,600 bushfire-related claims since September 2019 with a total estimated cost of up to AUD 345 million (USD 237 million), and has noted that losses from the event could trigger its reinsurance protection. The large Australian primary insurer is the latest ... Read the full article
Willis Re names Simon Buxton MD of International Customised Reinsurance
9th January 2020
Willis Re, the reinsurance arm of global insurance brokerage Willis Towers Watson (WTW), has announced the appointment of Simon Buxton as Managing Director of its International Customised Reinsurance practice, based in London. Willis Re's International Customised Reinsurance practice has a focus on non-traditional reinsurance, and in his new role, Buxton will ... Read the full article
AXIS Insurance adds two renewable energy underwriters
9th January 2020
The insurance business arm of Bermudian re/insurer AXIS Capital Holdings Limited, AXIS Insurance, has expanded its renewable energy underwriting expertise with two new hires. Specifically, Sam Walsh has joined the insurer as senior underwriter and Mat Pifer as an underwriter in AXIS Insurance's renewables division. In their new roles, both Walsh and ... Read the full article
Lloyd’s, LMA confirm business lines for modernised syndication pilot
9th January 2020
The specialist Lloyd's of London insurance and reinsurance marketplace, alongside the Board of the Lloyd's Market Association (LMA), has revealed that the pilot classes for the modernised syndication pilot will be Marine Hull and International Casualty Binders. The modernised syndication pilot forms part of the Future at Lloyd's strategy, an ongoing ... Read the full article
QBE North America recruits Specialty & Commercial President from Aon
9th January 2020
The North American unit of global primary insurance group QBE has announced the appointment of Tom Fitzgerald as President, Specialty & Commercial. Fitzgerald joins the company from Aon Risk Solutions, where he most recently served as Chief Executive Officer (CEO) for its global broking operations. As a member of the executive leadership ... Read the full article
Aflac joins, AIG extends strategic partnership with Varagon Capital Partners
9th January 2020
Varagon Capital Partners, a direct lender to middle market companies, has entered into a definitive agreement to establish a strategic partnership with Aflac Global Investments, and has also extended its existing partnership with insurer and reinsurer, AIG. AIG has been an anchor investor and client of Varagon since 2014 and has ... Read the full article
Bushfire losses to rise but remain manageable, says Moody’s
9th January 2020
Moody's Investors Service has warned of a dent to profits from the ongoing bushfires ravaging parts of Australia, but says that the strong fundamentals of the region's property and casualty (P&C) insurers suggests that losses will be manageable. As of January 7th, 2020 the Insurance Council of Australia (ICA) had ... Read the full article
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