Reinsurance News
Singapore announces intellectual property insurance initiative with Antares
17th June 2019
The Intellectual Property Office of Singapore (IPOS), in collaboration with Lloyd’s Asia and Antares Underwriting Asia, has announced a new intellectual property (IP) insurance initiative to support businesses as they enter global markets. The Intellectual Property Insurance Initiative for Innovators (IPIII) aims to provide businesses with insurance coverage for legal expenses ... Read the full article
Portfolio mix, geographic reach to strengthen Austral Re – Terra Brasis Re
17th June 2019
The recently announced merger of the activities of Austral Re and Terra Brasis Re, is expected to result in a competitive new reinsurer, underpinned by a broader product set and improved geographical reach. An investment agreement to merge the two Brazilian reinsurers was announced last week, a union which is ... Read the full article
MS Amlin adds Senior Marine Underwriter to Dubai office
17th June 2019
MS Amlin, the global re/insurance group owned by MS&AD, has announced the appointment of Mary Vogiatzidou as a Senior Marine Underwriter in its Dubai office. In this role, she will be responsible for the continued development and growth of MS Amlin’s marine business across the MENA region, reporting to David Overall, ... Read the full article
AI will help automate bespoke policies: Lloyd’s Trevor Maynard
17th June 2019
Artificial intelligence (AI) will create some “interesting possibilities” in terms of automating how the insurance market delivers bespoke products, according to Trevor Maynard, Head of Innovation at Lloyd’s. Speaking at the MMC Rising Professionals’ Global Forum in London last week, Maynard addressed the “wave of technology” currently sweeping across the market, ... Read the full article
Economic losses from June flooding in south-eastern China hits almost $2bn: Aon
17th June 2019
Severe flooding from heavy rainfall that hit a number of provinces in south-eastern China during the first two weeks of June is expected to result in economic losses of almost $2 billion (CNY13.35 billion), with the majority of this unlikely to be covered by insurance protection. The latest weekly catastrophe report ... Read the full article
Cyber insurance to drive innovation, take industry by storm: Appleby’s Tim Faries
14th June 2019
The structures and products developed to tackle cyber risk over the next five years will take the global re/insurance market by storm and drive forward innovation, according to Tim Faries, Bermuda Managing Partner at global law firm Appleby. In a conversation with Faries at Appleby’s Bermuda offices, he explained how the ... Read the full article
IAG adds George Savvides to Board as Independent Non-Exec Director
14th June 2019
Australian primary insurer Insurance Australia Group Limited (IAG) has announced the appointment of George Savvides as an Independent Non-Executive Director of its Board. It’s hoped that Savvides’ appointment will enable the company to bolster customer satisfaction, business simplification and agility. He joins with extensive executive experience, serving as Chief Executive Officer of ... Read the full article
Athene co-founder Frank Gillis to retire as CEO of life business
14th June 2019
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has announced that company co-founder Frank ‘Chip’ Gillis is to retire at the end of 2019. He will step down from his role as Chief Executive Officer (CEO) of Athene Life Re, but will continue his involvement with Athene as Executive ... Read the full article
Brazilian reinsurers Terra Brasis Re & Austral Re to merge
14th June 2019
Reports have revealed that Brazilian reinsurance companies Terra Brasis Re and Austral Re have now agreed to a merger, which is set to create the second largest reinsurer in Brazil. Reinsurance News reported in August of last year that the two companies were in talks over a potential merger. At ... Read the full article
Enstar adds XL Catlin’s Myron Hendry to Board
14th June 2019
Bermuda based re/insurance, run-off and legacy transaction specialist Enstar Group has announced the appointment of Myron Hendry to its Board as a class II Director, effective July 1. Hendry's appointment was recommended to the Board by Enstar’s Nominating and Governance Committee, which is comprised entirely of independent directors. Hendry most recently served ... Read the full article
Liberty partners with Edge Case Research on autonomous vehicle tech
14th June 2019
Liberty Mutual Insurance has announced an investment and new strategic partnership with Edge Case Research, a firm that helps companies go to market with autonomous vehicle technologies and services. Liberty Mutual's venture capital arm, Liberty Mutual Strategic Ventures, participated in the recent seed financing of the firm, which was established by ... Read the full article
Insurers can expect $65m in exposure value from stricken oil tankers: Russell Group
14th June 2019
Risk management company Russell Group has warned that cargo insurance companies can expect to experience a high exposure value following recent attacks on two oil tankers in the Gulf of Oman. The explosions that hit Japanese product tanker, Kokuka Courageous and the Norwegian tanker, Front Altair on Thursday occurred just weeks ... Read the full article
Aspen Insurance launches cyber risk management platform
14th June 2019
Aspen Insurance, the insurance arm of Bermudian re/insurer Aspen Insurance Holdings Limited, has announced the launch of its cyber risk management platform SSIMPLE. The SSIMPLE platform includes existing components of Aspen’s Apex insurance policy and incident response capabilities, and is designed to help clients prevent, detect and respond to privacy and ... Read the full article
CEOs of Aviva, Prudential, Ping An & PICC elected to Geneva Association Board
14th June 2019
Four new members have been elected as Directors to the Board of leading international insurance industry think tank the Geneva Association. The new additions, elected on May 30 at a General Assembly in Buenos Aires, includes Chief Executive Officers from Aviva, Prudential, Ping An and PICC. Maurice Tulloch is CEO of Aviva. ... Read the full article
Munich Re’s Serge Calfa joins EC3 Brokers MEA as regional director, treaty
14th June 2019
EC3 Brokers MEA has appointed Munich Re's Serge Calfa to the newly-created role of regional director of treaty, effective June 1st, 2019. In this role, Calfa reports to Steve Hart, Senior Executive Officer, and is based in the company's Dubai office. London-headquartered EC3 Brokers announced the launch of its Middle East ... Read the full article
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