Reinsurance News
Lincoln Financial expands roles of two corporate finance leaders
8th April 2019
Christopher Giovanni and Jeffrey Coutts, two leaders within Lincoln Financial Group’s corporate finance organisation, are taking on new roles. Senior Vice President Giovanni has been named Corporate Treasurer while Coutts, who currently serves as corporate treasurer, has been appointed Chief Valuation Actuary, a newly created role. In this expanded role, Giovanni will ... Read the full article
Ariel Re bolsters Marine & Energy team with appointment of David Martin
8th April 2019
Argo Group subsidiary Ariel Re has announced the appointment David Martin as Head of Marine & Energy, Reinsurance, effective immediately. Martin brings over 30 years’ experience to the role and joins from Tokio Millennium Re, where he most recently served as Head of UK underwriting. He reports to Matthew Wilken, Deputy Global ... Read the full article
MS&AD subsidiary MSI establishes Global Digital Hubs in Tokyo, Singapore
8th April 2019
MS&AD Insurance Group subsidiary, Mitsui Sumitomo Insurance (MSI), has announced the establishment of what it calls Global Digital Hubs (GDH) in Tokyo and Singapore. The company’s intentions are for the two GDHs, alongside other innovation-driven initiatives, to help promote digitalisation and solve wider societal challenges. This announcement echos MSI's move last year ... Read the full article
IRDAI grants special approval to 11 cross-border reinsurers for 2019-2020
8th April 2019
The Insurance Regulatory and Development Authority of India (IRDAI) has granted special approval to 11 cross-border reinsurance companies for the 2019-2020 year. This compares to 16 cross-border reinsurers that were approved by the regulator to operate in India for the 2018 year. According to a circular published by the IRDAI, the recently ... Read the full article
Middle East energy reinsurers refocus underwriting discipline: WTW
8th April 2019
The Middle Eastern reinsurance market for oil and gas business has undergone a process of change in 2018 and early 2019, according to broker Willis Towers Watson (WTW), with many reinsurers refocusing their appetite for these risks following poor underwriting results in the sector. Will Peilow, MEA Regional Leader, Downstream Natural ... Read the full article
Swiss Re optimistic on long-term pricing prospects, says Ojeisekhoba
5th April 2019
Swiss Re is optimistic about its own long-term pricing prospects, as well as those of the wider reinsurance industry, despite the persistence of challenging market conditions. This is according to Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re, who told Reinsurance News that the company was confident the competitive low-rate environment ... Read the full article
AIG appoints QBE’s Kathleen Zortman to lead Private Client Group
5th April 2019
Global re/insurer AIG has appointed Kathleen Zortman as President and Chief Executive Officer of Private Client Group, General Insurance. Based in New York, Zortman will lead AIG’s global high net worth portfolio, with responsibility for strategy, underwriting and distribution for the company’s private client business. She joins from QBE Insurance Group where ... Read the full article
Cape Analytics announces AI-driven wildfire risk solution
5th April 2019
Cape Analytics, a re/insurance data analytics provider, has announced an Artificial Intelligence (AI)-driven solution that allows home insurance carriers to systematically assess wildfire vulnerability for properties across the US. The defensible space solution, complementary to leading wildfire risk models and scoring tools, leverages AI and geospatial imagery to provide detailed information ... Read the full article
Arthur J. Gallagher to acquire Canadian broker Keyser Benefits
5th April 2019
Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Canadian broker Keyser Benefits Corp. Based in Calgary, Alberta, Keyser Benefits is a full-service benefits brokerage that has been in operation for more than 45 years. It offers life, disability, health and dental, critical illness, retirement and other services ... Read the full article
CCR adds Vincent Gros as General Counsel
5th April 2019
CCR Group, the state-backed French re/insurer, has announced the appointment of Vincent Gros, who joins as General Counsel, Board Secretary Legal Director and Head of Communication. Gros joins with an extensive legal background, having worked for 15 years as General Secretary at Société Générale, managing several operations in France, the US ... Read the full article
North America P&C sector results improve despite cat losses: Fitch
5th April 2019
North American property and casualty (P&C) re/insurers generated improved operating returns and underwriting profits in 2018, according to Fitch Ratings. Analysis of 48 P&C re/insurers’ results showed that performance across the sector improved despite a second consecutive year of higher than average catastrophe losses. Insured cat losses represented 5.0% of aggregate net ... Read the full article
Whiplash reforms push down car premiums as Ogden review continues
5th April 2019
Car premiums in the UK declined by an average of £100 between December 2018 and February 2019, driven by the sector's response to the passing of the Civil Liability Act in December of last year. Canaccord Genuity questions whether the Ogden reforms will result in further reductions. The Civil Liability ... Read the full article
PPL surge continues as Board reveals 50,000 risks now bound on the platform
5th April 2019
The board of Placing Platform Limited (PPL), a core component of the London Market’s Target Operating Model, has announced that over 50,000 risks have now been bound on the platform, with close to 12,500 bound in just the last three months. The adoption of electronic placement is increasing across the London ... Read the full article
Berkshire BHSI confirms move to Cologne from Düsseldorf
5th April 2019
Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global re/insurance company, has confirmed its decision to relocate to Cologne, Germany from neighbouring Düsseldorf in June. The decision has been well received by the Mayor of Cologne Henriette Reker, who has for the past year been a Read the full article
Munich Re’s ERGO to offload insurance portfolios of three entities to Generali
5th April 2019
ERGO International AG, a division of global reinsurer Munich Re, has announced plans to sell the insurance portfolios of three subsidiaries to Generali Group. The new sale is for its life, non-life and composite portfolios in Hungary and Slovakia. The transaction sees ERGO further consolidate its international business and follows last ... Read the full article
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