Reinsurance News
Leverage tech to help close the protection gap, says the IDF
6th December 2019
The Insurance Development Forum (IDF), a public/private partnership led by the insurance and reinsurance industry, has called for greater use of technology to close the global protection gap. The global protection gap (disparity between economic and insured losses post-event) is staggering and growing, and exists in both developed and developing parts ... Read the full article
AmTrust CFO Karkowsky promoted to President
6th December 2019
Adam Karkowsky, Chief Financial Officer (CFO) of AmTrust Financial Services, Inc. has been promoted to President of the company, reporting to Barry Zyskind, Chairman and Chief Executive Officer (CEO) of AmTrust. In addition to his new responsibilities, Karkowsky, who joined AmTrust in 2011, will continue to serve as the firm's CFO ... Read the full article
AM Best maintains stable outlook on reinsurance in 2020
6th December 2019
Rating agency AM Best has maintained its stable market outlook on the global reinsurance industry for 2020, citing a stabilised pricing environment, alignment with third party capital, and support from life segment results. Analysts felt that reinsurers in the non-life segment were also gaining more favourable momentum in the face of ... Read the full article
Financial leverage of Europe’s largest insurers to be stable in 2020: Moody’s
6th December 2019
Moody's Investors Service has said that over the next 18 months, the financial leverage at the largest insurance companies in Europe is expected to be broadly stable. According to financial services ratings agency, Moody's, some of Europe's insurers might look to take advantage of the low interest rate environment to increase ... Read the full article
Malaysia re/insurers to benefit from more liberal market, report claims
6th December 2019
A new report from Malaysian Reinsurance Berhad (Malaysian Re) has claimed that both customers and re/insurers will ultimately benefit from a more liberal market in Malaysia, following the recent de-tariffication of the dominant property classes, motor and fire. Of the 30 senior re/insurance executives surveyed by Malaysian Re, almost all held ... Read the full article
Swiss Re selling ReAssure to Phoenix Group in £3.25bn deal
6th December 2019
Swiss Re has finally found its exit point from its UK closed life book consolidator business, ReAssure, agreeing to sell the ReAssure Group plc business to the largest pensions and life consolidation specialist in Europe, Phoenix Group Holdings plc in a deal worth UK £3.25bn. Swiss Re has been seeking to ... Read the full article
Re/insurance held back by innovation inertia, says expert panel
5th December 2019
Innovation represents a huge opportunity for the re/insurance industry, but has been held back by complacency and an “insidious form of inertia,” according to a panel of market experts. These comments came as part of a discussion on the direction and pace of innovation and technology in re/insurance at a recent ... Read the full article
AXA’s Maisonneuve named CEO of AXA Next & Group Chief Innovation Officer
5th December 2019
Delphine Maisonneuve, currently the Chief Executive Officer (CEO) of AXA Brazil, has been appointed as CEO of AXA Next and Group Chief Innovation Officer, effective January 1st, 2020. She replaces Guillaume Borie who was recently named Deputy CEO of AXA France and CEO of AXA Particulars & IARD Enterprises. In her new ... Read the full article
Andrew Adams joins Berkshire (BHSI) as Head of Surety in Canada
5th December 2019
Berkshire Hathaway Specialty Insurance (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced the expansion of its global surety team with the addition of Andrew Adams as Head of Surety in Canada. Adams joins BHSI from AIG, where he most recently served as Vice President of Surety in Canada. He has ... Read the full article
Fitch turns negative on North American life insurance
5th December 2019
Fitch Ratings has revised its 2020 sector outlook for North American life insurers to negative from stable, following an unexpected decline in interest rates over the past year. Although the sector outlook is negative, analysts still expect ratings for North American life insurers to remain stable in the coming year. That said, ... Read the full article
Florida AoB reforms prompt homeowners discounts from Kin Insurance
5th December 2019
Kin Insurance, a US insurtech and primary carrier focused on home insurance for catastrophe-exposed areas, has announced two new discounts for Florida homeowners, which it says were made possible by recent reforms to assignment of benefits (AoB) laws. The Responsible Repair Discount will offer an 18% discount on the water peril ... Read the full article
Guy Carpenter & Victor target enhanced US public entity offering
5th December 2019
Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, has announced that Victor US, which is the US business of affiliate Victor, is to offer Guy Carpenter clients who are members of US public entity insurance pools with a range of property and casualty (P&C) solutions not traditionally offered ... Read the full article
Aston Lark set to acquire Wright Insurance Brokers in Ireland
5th December 2019
UK insurance brokerage Aston Lark has announced that it plans to acquire Wright Insurance Brokers, based in Ireland. Wright Insurance Brokers is a specialist in the commercial and transport sectors, with offices in Wexford and Carlow. The company was founded by insurance investors Tony and Breda Wright and employs over 150 across ... Read the full article
Kershaw to succeed Whelan as Lancashire CFO
5th December 2019
Lancashire Holdings Limited has announced that Natalie Kershaw will replace Elaine Whelan as Group Chief Financial Officer (CFO), effective March 1st, 2020. Currently the firm's Chief Accounting Officer, Kershaw brings almost two decades of insurance and reinsurance industry experience to the role. She has been with Lancashire since December 2009 and has ... Read the full article
Chubb’s Louise Joyce named Head of Industry Practices, UK&I
5th December 2019
Louise Joyce, previously Life Sciences Manager for the UK & Ireland (UK&I) at Chubb, has been appointed as the firm's Head of Industry Practices for the UK&I, effective immediately. Joyce, who succeeds Karen Strong after her departure from the re/insurer, will continue to be based in Birmingham and report to Mark ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
