Reinsurance News
Argo sets record date of January 8th for shareholder vote eligibility
10th December 2019
Argo Group International Holdings, Ltd. has set a record date of January 8th, 2020 for the determination of company shareholders who are entitled to execute, withhold or revoke consents in connection with the Voce Consent Solicitation. The Board of Directors of Argo has responded to Voce's letter requesting that the re/insurer ... Read the full article
AXIS Capital adds Anne Melissa Dowling to Board of Directors
10th December 2019
Bermudian insurer and reinsurer, AXIS Capital Holdings Limited, has announced that Anne Melissa Dowling has been appointed to its Board of Directors, effective January 1st, 2020. The re/insurer explains that Dowling will serve as a member of the Company's Audit, Corporate Governance and Nominating, and Finance Committees. She most recently served as ... Read the full article
Tremor helps W. R. Berkley secure $600mn capacity for property cat renewal
10th December 2019
Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has helped W. R. Berkley to price and place the renewal of its 2020 Property Catastrophe Program, securing $600 million of capacity from more than 50 reinsurers. The marketplace process enabled reinsurers to log in and submit blind sealed bids over a ... Read the full article
Coverys appoints Canopius’ Jo Marshall general counsel
10th December 2019
Coverys, the Lloyd’s managing agent of Syndicates 1975, 1991 and 3330 has appointed Jo Marshall as general counsel. Marshall brings over two decades of legal and compliance experience to the role and joins from Canopius. “Coverys’ reputation has been built on a data and analytics-led approach to underwriting, market-leading expertise in medical ... Read the full article
Munich Re’s HSB appoints Director of Business Development & Distribution
10th December 2019
HSB Engineering Insurance, the UK-based arm of Munich Re's Hartford Steam Boiler Inspection and Insurance Company, has announced the appointment of Terry Dyson as Director of Business Development and Distribution, effective immediately. In his new role, Dyson will be tasked with leading the firm's business development team with a focus on ... Read the full article
Low interest rates persist, applying pressure to life insurers: Moody’s
10th December 2019
Life insurers globally are feeling pressure on investment income and a weight on their economic solvency amid a persistent low interest-rate environment, according to a report by Moody’s Investors Service. Moody’s expects rates to remain low for longer than initially expected as global growth remains sluggish and inflation expectations are subdued. "Falling ... Read the full article
CoreLogic integrates HOVER 3D tech into underwriting platform
10th December 2019
Property information and analytics provider CoreLogic has announced the integration of HOVER property measurement and 3D technology into its 'UnderwritingCenter' platform for insurance clients. Via the HOVER app users are able to send images of a property and receive accurate measurement, including the total living area down to the inch, as ... Read the full article
Victor sets up Lloyd’s Syndicate 2288, names Active Underwriter
10th December 2019
Managing general underwriter (MGU) Victor Insurance Holdings has received approval from Lloyd’s to establish Victor Syndicate 2288 and commence underwriting from January 1, 2020. Victor Syndicate 2288 will launch at Lloyd’s with a stamp capacity of £57 million, supporting a business plan of US $100 million. Jill Frances has been named as ... Read the full article
Lloyd’s raises £300m of senior debt to fund Blueprint One
10th December 2019
Re/insurance marketplace Lloyd’s of London has taken steps to help ensure the successful delivery of its Blueprint One strategy, with the formation of a new committee and raising of £300 million of senior debt. Beginning in 2020, Blueprint One is designed to enhance Lloyd’s value proposition by offering better insurance ... Read the full article
Jean to succeed Kelley as President and CEO of EMC
10th December 2019
Bruce Kelley, the President and Chief Executive Officer (CEO) of EMC Insurance Companies (EMC), has told the Employers Mutual Casualty Company (EMCC) Board of Directors that he is retiring from the company in March, 2020. Kelley has been with EMC since 1985 and has led the firm to high levels of ... Read the full article
CNA Hardy’s Peters-Venzano to join Beazley as Chief Marketing Officer
10th December 2019
Beazley, the London headquartered specialist insurer, has named Georgina Peters-Venzano as Chief Marketing Officer, effective March 2020. Based in London, Peters-Venzano will lead the firm's global marketing and communications strategy and lead a team based in the UK and US. In her new role, she will report to Lou Ann Layton, ... Read the full article
CEO Dominic Wheatley to depart Guernsey Finance
10th December 2019
The Board of Guernsey Finance has announced that its Chief Executive Officer (CEO), Dominic Wheatley, is set to depart next year after more than five years in the role. Guernsey Finance, which acts as a promotional agency for the island’s financial industry, reported that Wheatley will leave on 30 June 2020. The ... Read the full article
European captives’ underwriting results supported by portfolio knowledge, says A.M. Best
10th December 2019
The balance sheet strength of European captives currently rated by A.M. Best is very strong, and, the broad understanding and detailed knowledge of the portfolios they cover is driving robust underwriting performance. In a recent report, “European Captives 2019 – Building Block Rating Considerations”, global financial services ratings agency, A.M. Best ... Read the full article
WTW launches IFRS 17 software solution
10th December 2019
Global re/insurance broker Willis Towers Watson has launched an out-of-the-box software solution designed to help P&C insurers more easily implement IFRS 17. ResQ Financial Reporter is a calculation and data management solution designed to provide an efficient framework in order to generate the financial statements and supporting disclosure requirements of IFRS ... Read the full article
PG&E agrees to $13.5bn settlement with California wildfire claimants
9th December 2019
PG&E Corporation and Pacific Gas and Electric Company (PG&E) has agreed to a $13.5 billion settlement to resolve individual claims relating to the 2017 Northern California Wildfires and the 2018 Camp Fire. The settlement, which also covers claims arising from the 2015 Butte Fire and the 2016 Ghost Ship Fire in ... Read the full article
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