Reinsurance News
R&Q’s Langridge to step down from Director role
3rd December 2019
Non-life legacy and run-off acquisition and management, programme services and investments specialist, Randall & Quilter Investment Holdings Ltd., has revealed that Mark Langridge is to step down as a Director of the Company, effective 13th December 2019. The firm explains that Langridge will continue to serve in an executive role advising ... Read the full article
Argo criticises Voce’s latest call to replace board members
3rd December 2019
Specialty reinsurer Argo has criticised a recent attempt by its shareholder Voce to call a special general meeting in order to remove and replace five existing board members. An Argo statement released this week states that its board has been been constructively engaged with Voce, and continues to encourage its participation ... Read the full article
S&P turns negative on Allianz AGCS unit
3rd December 2019
S&P Global Ratings considers Allianz Global Risk US Insurance Co.'s (AGRUS) continuing underperformance relative to peers as a hindrance to the performance of its parent Allianz Global Corporate & Specialty (AGCS), revising its outlook on AGRUS to negative from stable. S&P believe the recent change in CEO at AGCS indicates ... Read the full article
EPIC Insurance Brokers adds Scott Weiss to Risk Management Practice
3rd December 2019
EPIC Insurance Brokers and Consultants, a retail property and casualty insurance brokerage and employee benefits consultant, has announced that Scott Weiss will join its Risk Management Practice as a Principal. Going forward, Weiss will be responsible for new business development and the design, placement and management of property and casualty insurance ... Read the full article
Coverys Syndicate 1975 adds Priya Fathers as medical underwriter
3rd December 2019
Coverys Managing Agency Limited, the Lloyd’s managing agent of Syndicates 1975, 1991 and 3330, has announced the appointment of Priya Fathers as a medical professional liability underwriter. Fathers, whose appointment to Lloyd’s syndicate 1975 is immediate, will report to Interim active underwriter Phil Sloan. She had previously served as underwriting manager of ... Read the full article
Joan Lamm-Tennant joins AXA Equitable Holdings Board of Directors
3rd December 2019
AXA Equitable Holdings, Inc. has named Joan Lamm-Tennant as an independent member of its Board of Directors, effective January 1st, 2020. The company states that this announcement follows the close of AXA's secondary offering of shares of AXA Equitable Holdings common stock on November 13th, 2019. Currently the co-founder and Chief Executive ... Read the full article
SageSure names Paul VanderMarck as Chief Tech & Innovation Officer
3rd December 2019
SageSure Insurance Managers, an independent US residential property managing general underwriter, has announced the appointment of Paul VanderMarck as Chief Technology and Innovation Officer. In this role, VanderMarck will lead the teams responsible for SageSure's proprietary technology platform. He will also drive the company's broader innovation strategy, including developing partnerships with emerging ... Read the full article
Lincoln Financial president of group protection Mucci to retire
3rd December 2019
Insurance holding company Lincoln Financial Group has announced the imminent retirement of Group Protection president Dick Mucci. Mucci, whose retirement is set for December 31, will be replaced on an interim basis by Eric Reisenwitz. Mucci joined Lincoln in 2014 and has overseen a period of improvement in profitability, along with growth ... Read the full article
Liberty Mutual Surety names Stéphane Lizeray department head
3rd December 2019
Liberty Mutual Surety and Liberty Specialty Markets, both subsidiaries of Liberty Mutual Insurance Group, have named Stéphane Lizeray as head of surety department, France with immediate effect. Lizeray joins from Zurich’s Paris office having most recently served as senior surety underwriter. Prior to that, he worked as a credit analyst at Euler ... Read the full article
Hub International acquires California insurer HMBD
3rd December 2019
Global insurance brokerage Hub International has announced the acquisition of Hamman-Miller-Beauchamp-Deeble, a full service insurance agency providing multi-line insurance solutions. Located in California, HMBD focuses on industries such as construction, healthcare, and transportation. The acquisition is expected to support Hub’s specialty practices by complementing and strengthening its existing capabilities. "I am pleased to ... Read the full article
Beazley appoints Rozina Karimali as exec risk underwriter
3rd December 2019
Specialist insurer Beazley has named Rozina Karimali as executive risk underwriter within the company’s cyber & executive risk division. Based in San Francisco, Karimali will underwrite public directors & officers and large private D&O risks as well as employment practices liability. She joins from Allied World having most recently served as an ... Read the full article
German insurers to offset growing cat losses with premium gains: Fitch
3rd December 2019
German non-life insurers are likely to continue increasing their premium income in 2020 to offset growing catastrophe losses and dwindling investment returns, according to analysts at Fitch Ratings. The rating agency’s outlook for the sector remains stable, on the basis that the market is expected to achieve sufficient premium growth to ... Read the full article
LMA warns of “continued uncertainty” for US terrorism act renewal
2nd December 2019
The Lloyd’s Market Association (LMA) has published a letter to its members warning of “continued uncertainty” around the US Terrorism Risk Insurance Act (TRIA), which is currently set to expire in December 2020. The LMA said it was confident that the renewal will be achieved in good time in advance of ... Read the full article
AM Best highlights performance of Bermuda, Cayman & Barbados captives
2nd December 2019
AM Best analysts have found captive insurance companies in Bermuda, Cayman Islands and Barbados to be outperforming the segment’s counterparts in the commercial casualty sector. In addition, a new milestone was reached in 2018 when net premiums earned surpassed $3.5 billion for the first time. A new AM Best market report explains ... Read the full article
Coal exclusions double in 2019 as action spreads beyond Europe
2nd December 2019
The number of insurers withdrawing cover for coal has more than doubled in 2019 as the industry’s retreat from the sector accelerates and spreads beyond Europe, according to data from environmental campaign group Unfriend Coal. Coal exit policies have now been announced by 17 companies controlling 46% of the reinsurance market ... Read the full article
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