Reinsurance News
The Hartford promotes Scott to lead role within northeast division
10th July 2019
Property and Casualty (P&C) insurer the Hartford has named Matt Scott as Head of the northeast division for the firm’s large commercial insurance business. Scott joined in 1997 and has held a number of leadership positions with the company’s Claims organisation. Most recently, he was head of the Hartford’s Claims Solutions organisation ... Read the full article
MS Amlin exits Indian reinsurance sector after group-wide review
10th July 2019
MS Amlin has informed the Insurance Regulatory and Development Authority of India (IRDAI) that as part of a group-wide review of its operating structure and performance, it has decided to exit the Indian reinsurance market. Commercial insurance and reinsurance specialist MS Amlin was the first company to have been welcomed ... Read the full article
Verisk launches Sequel re/insurance product suite in US
10th July 2019
Data analytics provider Verisk has launched a new product suite in the US aimed at providing easily configured and full-cycle re/insurance solutions that enable clients to quickly streamline their workflows and increase market agility. The suite, aimed at enabling re/insurance professionals to efficiently manage critical process steps and calculate risk accumulation, ... Read the full article
EC3 Brokers US appoints new Chief Actuary & SVP
10th July 2019
Lloyd's of London headquartered commercial lines broker, EC3 Brokers, has expanded its U.S. operations with the addition of James Norris as Chief Actuary and Terry Holley as Senior Vice President (SVP). The pair will report to President of EC3 Brokers US, Chris Hilton and will work closely with Danny Driscoll, the ... Read the full article
Swiss Re could use more ADC reinsurance to reduce Corporate Solutions volatility: analysts
10th July 2019
Analysts at Barclays and JP Morgan are anticipating that Swiss Re may purchase further adverse development cover (ADC) to protect the underwriting result of its Corporate Solutions business, which was hit particularly hard by recent catastrophe losses. The move will likely come as part of a broader overhaul of the unit’s ... Read the full article
PartnerRe names Chris Shanahan as President of U.S Life operations
10th July 2019
Bermudian reinsurance firm PartnerRe Ltd. has announced the appointment of Chris Shanahan as President of its U.S Life operations, effective July 1, 2019. Shanahan joined PartnerRe in May 2018 as Executive Vice President, Corporate Development, North America Life, where he led the development of strategy for PartnerRe’s U.S life reinsurance business. He ... Read the full article
Hub International acquires the Crichton Group
10th July 2019
Chicago-based global insurance brokerage Hub International has announced the purchase of The Crichton Group (TCG). TCG is an independent, full-service commercial, employee benefits and personal lines agency based in Nashville, Tennessee. With this acquisition, Hub intends to create a new regional Hub to be called Hub Mid-South, which will include Hub's existing ... Read the full article
Berkshire (BHSI) adds QBE manager, opens Cologne office
10th July 2019
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global re/insurance company, has appointed Andreas Krause as Country Manager for Germany and announced the establishment of a new office in Cologne. Krause joins with close to 20 years’ industry experience and was most recently a General Manager at QBE ... Read the full article
Brit strengthens General Liability, Excess Casualty teams
10th July 2019
Global specialty re/insurer Brit has appointed Garick Zillgitt, Vice President, Primary General Liability and Justin Magee, Vice President, Excess Casualty to Brit Global Specialty USA (BGSU). Zillgitt, who reports to SVP, General liability Mark Richards, will be based in Walnut Creek, California. He brings over 35 years of underwriting experience across various ... Read the full article
Allianz (AGCS) reshuffles alternative risk transfer roles
10th July 2019
Allianz Global Corporate & Specialty SE (AGCS) has made a number of changes to its Alternative Risk Transfer (ART) and Liability Lines business, including the promotion of Christof Bentele to Head of Global Client Management, a newly-created role. Bentele previously served as Head of Global Crisis Management,a role which has been ... Read the full article
Ares launches insurance subsidiary, acquires Pavonia Life
10th July 2019
Alternative asset manager Ares Management Corporation is to expand its existing insurance platform with the launch of Aspida Financial, an indirect subsidiary of Ares. Additionally, Ares has announced the purchase, by Aspida, of Pavonia Life Insurance Company, a Michigan-domiciled insurance company with approximately $1.1 billion of assets and approximately $76 million ... Read the full article
Alison Martin to succeed Amanda Blanc as Zurich CEO EMEA
10th July 2019
Zurich Insurance Group has announced the appointment of Alison Martin to the role of Chief Executive Officer (CEO) for Europe, Middle East & Africa (EMEA) and Bank Distribution, effective immediately. She succeeds Amanda Blanc, whose surprise departure from Zurich was announced last week after less than nine months in the ... Read the full article
British Airways fine just the beginning for data privacy regulation, says Fifth Step CEO
10th July 2019
The landmark £183 million fine imposed on British Airways should come as no surprise and may represent only the beginning of more stringent data privacy regulation, according to Darren Wray, CEO at Fifth Step, a business management firm for the re/insurance industry. The Information Commissioner’s Office (ICO) imposed the penalty ... Read the full article
Arch Re recruits Portfolio Manager from TMR
10th July 2019
Bermuda-based re/insurance firm Arch Capital Group has announced the appointment of Ed Jordan as Portfolio Manager at it reinsurance subsidiary, Arch Re. Jordan has spent the previously 17 years at Tokio Millenium Re AG (TMR) in Bermuda, most recently as head of its Capital Solutions unit. In this role, he was responsible ... Read the full article
Traditional sector drives rebound in global reinsurance capital: Aon
9th July 2019
Global, dedicated reinsurance capital increased by 3% in the first-quarter of 2019 to $605 billion, driven by growth in the traditional sector which more than offset a decline in alternative reinsurance capital, according to insurance and reinsurance broker, Aon. According to the broker's Reinsurance Market Outlook report, from the end of ... Read the full article
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