Reinsurance News
Liberty Mutual names Ben Beauvais as head of construction division
5th December 2019
Liberty Mutual Insurance has announced the appointment of Ben Beauvais as Construction Executive, Distribution, for Global Risk Solutions (GRS). GRS is Liberty Mutual’s global commercial and specialty lines re/insurer, and provides a range of traditional insurance, specialty and reinsurance risk solutions. In his newly created position, Beauvais will be required to reach ... Read the full article
Munich Re backed Bestow confirms executive appointments
5th December 2019
Bestow, a Dallas, U.S. domiciled InsurTech company focused on the life insurance sector and which is backed by Munich American Reassurance Company as its reinsurer and in other capacities, has announced its executive team, to be led by co-founders Melbourne O'Banion and Jonathan Ablemann. In May of last year, Bestow ... Read the full article
Verisk acquires life insurance & annuity software company, FAST
5th December 2019
Verisk Analytics has announced that it has signed a definitive agreement to acquire FAST, a software firm for the life insurance and annuity sector, for a purchase price of $193.5 million. FAST, which stands for Flexible Architecture, Simplified Technology, offers a policy administration system that enables insurers to accelerate both underwriting ... Read the full article
LMA highlights unique strengths of non-payment insurance
5th December 2019
In its response to the European Commission's (EC) consultation on the implementation of the Basel III reforms, the Lloyd's Market Association (LMA) has said that banks' use of non-payment insurance should be recognised in regulatory capital calculations. In light of proposed changes to the Capital Requirement Regulation (CRR) and the Capital ... Read the full article
CAC Specialty forms new Professional Liability & Cyber Practice Group
5th December 2019
CAC Specialty has announced the launch of its new Professional Liability and Cyber Practice Group, which is to be led by Adam Lantrip as Senior Vice President (SVP). The newly-established Professional Liability and Cyber Practice Group is responsible for the design, placement, and ongoing service of complex professional liability, cyber, and ... Read the full article
Amanda Blanc joins Aviva as independent non-exec director
5th December 2019
UK insurer Aviva has announced the appointment of Amanda Blanc as an independent non-executive director. Blanc, who is due to step into the role on 2 January 2020, previously served as Chief Executive Officer at AXA UK & Ireland and CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. She has ... Read the full article
Arthur J. Gallagher acquires Blueleaf Consulting in Australia
5th December 2019
Arthur J. Gallagher & Co. has announced the acquisition of Blueleaf Consulting Pty Ltd., a financial advice practice based in North Sydney, New South Wales. Founded in 2006, Blueleaf Consulting offers wealth management, estate planning and business succession support to businesses and individuals across New South Wales. Following the takeover, Blueleaf Consulting’s ... Read the full article
Insurance Europe issues regulatory advice to EU policymakers
5th December 2019
Insurance Europe, the European insurance and reinsurance federation, has published a new paper advising policymakers in the European Union (EU) how to ensure re/insurance regulations work properly and benefit consumers. In the paper, Insurance Europe calls on policymakers to avoid continual regulatory changes by performing in-depth analysis to ensure that any ... Read the full article
Catalina to acquire Asia Capital Re, targets run-off growth in Asia
5th December 2019
Catalina Holdings, the Bermuda-headquartered non-life run-off and legacy insurance and reinsurance specialist, is set to acquire Asia Capital Reinsurance Group in a strategic move aiming for growth in Asia. The acquisition marks the first time Catalina has entered the Asian run-off market and the company aims to leverage the acquisition of ... Read the full article
Chubb Bermuda hires Michael Warwicker to lead Excess Liability
4th December 2019
Chubb Bermuda has announced that Michael J. Warwicker has joined the company as Senior Vice President, Head of Excess Liability. Warwicker has more than four decades of international and US insurance industry experience and has held executive casualty underwriting leadership positions at Endurance, Ironshore, and AIG. In his new role, Warwicker will ... Read the full article
Ariel Re collaborates to minimise solar project financial risk
4th December 2019
Ariel Re, which is a member of Argo Group, PV Evolution Labs and Beecher Carlson Insurance Services, LLC have announced the launch of PV PlantProtect, an insurance program designed to reduce solar project financial risk. The new solution is a first-of-its-kind risk mitigation and insurance program that leverages technical due diligence ... Read the full article
Arch’s Aaron Woodhams joins iprism as underwriting manager
4th December 2019
Technology-driven underwriting agency iprism has announced the appointment of Aaron Woodhams to the newly created role of underwriting manager, effective immediately. Woodhams joins from Arch’s Lloyd’s Syndicate 2012 and brings over 20 years’ experience to the role. He will be responsible for leading iprism’s operational underwriting function, applying pricing strategy and managing ... Read the full article
Lloyd’s of London launches space insurance policy
4th December 2019
Insurance and reinsurance marketplace Lloyd’s of London has launched a new space policy for the emerging private spaceflight industry. The solution, called Llift Space, is backed by a consortium of 18 syndicates, led by Brit and Hiscox MGA, with a $25 million capacity per risk. Only available in the Lloyd’s market, Llift ... Read the full article
Munich Re Specialty Insurance names Head of Property for E&S
4th December 2019
Munich Re Specialty Insurance, the global reinsurer’s specialty property and casualty (P&C) insurance unit in North America, has announced the appointment of Jim Wallace as Head of Property for Excess & Surplus (E&S) Lines. Wallace joins Munich Re from Navigators, where he most recently served as President of the Property Excess ... Read the full article
BMS launches Private Equity, M&A and Tax Insurance unit
4th December 2019
Specialist insurance and reinsurance broker BMS Group has launched a Private Equity, Mergers & Acquisitions (M&A) and Tax Insurance unit, and has named Tan Pawar as Managing Director of the new team. Pawar is set to join the firm once he has completed contractual obligations, and, will report to Ian Gormley, ... Read the full article
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