Reinsurance News
Helios Underwriting acquires Nameco for £2mn, completes £1.15mn capital raise
13th June 2019
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has agreed to buy the entire issued share capital of Nameco, a limited liability member of Lloyd’s, for just over £2 million. Helios' strategy is to build a fund of Lloyd's underwriting capacity through the acquisition and consolidation of limited liability ... Read the full article
Peak Re develops unique, cancer multi-protection policy for Vietnam
13th June 2019
Hong Kong domiciled global reinsurer, Peak Reinsurance Company Limited (Peak Re) has announced the creation of a unique multiple cancer benefits reinsurance solution for Vietnam. Peak Re states that the development of this solution is part of its broader strategy to support the evolving needs of the emerging middle class and ... Read the full article
Tesla needs to complete small acquisition before insurance product launch
13th June 2019
Speaking during Tesla's annual shareholder meeting held on Tuesday, Chief Executive Officer (CEO) Elon Musk explained that the firm needs to complete a small acquisition before launching its previously announced insurance product. It was revealed in April that the Elon Musk-led automotive and energy company was working on plans to ... Read the full article
MMC highlights importance of tech in fast-changing environment
13th June 2019
Participants across the risk transfer value chain must harness new technologies and adapt to the evolving operating landscape in order to meet client needs and remain relevant. This is according to Marsh & McLennan Companies (MMC) President and Chief Executive Officer (CEO), Dan Glaser and Victoria Carter, Chairman of Global Capital ... Read the full article
Diversification of Chinese Life & P&C insurers is benefiting reinsurers: Moody’s
13th June 2019
Reinsurers in China have experienced strong business growth in recent times as a result of increased risk diversification among both life and property and casualty (P&C) insurers, notes Moody's Investors Service. Analysts at global financial services ratings agency, Moody's have said that life and P&C insurance companies in China have continued to ... Read the full article
SCOR Global Life strengthens in France with three promotions
12th June 2019
SCOR Global Life, a division of global insurer and reinsurer SCOR, has announced a number of promotions in France, strengthening its position in the country. Formerly the Head of Client Solutions for SCOR Global Life, Barthélemy Philippe has been promoted to Director of the French Market. In this role, Philippe will work closely ... Read the full article
Lockton partners with Benefex to utilise HR tech platform OneHub
12th June 2019
Re/insurance broker Lockton has announced a new partnership with Benefex, the company behind HR platform OneHub, that will allow it to make the technology available to its clients globally. OneHub delivers employee benefits schemes via a consumer-led online system, allowing for more streamlined interactions between employees and employers. “The scalability of OneHub ... Read the full article
Re/insurers brace for heavy loss following Munich hail storm
12th June 2019
The insurance and reinsurance industry is anticipating a heavy loss following a severe hail storm in the Munich region of Germany this week, which actuaries estimate could cause a damages worth hundreds of millions of euros. Regions of Bavaria close to the main city areas of Munich were pummelled by torrential ... Read the full article
Pool Re seeking up to £50m NDBI retro cover
12th June 2019
UK government-backed terrorism reinsurer Pool Re is looking to secure a retrocession placement for July 1 of between £40 million and £50 million. This is in response to an increase of risk shouldered by Pool Re following parliamentary approval in February that enabled it to cover non-damage business interruption (NDBI) ... Read the full article
CoreLogic’s US quake model to be made available via Nasdaq’s ModEx
12th June 2019
Nasdaq has announced that CoreLogic is the latest catastrophe risk modeller to make its models available via ModEx, the catastrophic modelling ecosystem Nasdaq acquired in January as part of the Cinnober Technology AB deal. CoreLogic offers more than 180 catastrophe risk models across more than 100 regions, and its U.S. earthquake ... Read the full article
P&C pricing to reach double-digit increases through 2H19: Credit Suisse
12th June 2019
Analysts at Credit Suisse have predicted that property and casualty (P&C) insurance pricing is due to enter hard market territory throughout the second half of 2019, with rate increases reaching into the double-digits. This forecast is more optimistic than the firm’s previous April update, when it forecast that pricing would firm ... Read the full article
Allianz Asia adds Anusha Thavarajah as regional CEO, Life & Health
12th June 2019
The Asia Pacific operations of global insurer Allianz has announced the appointment of Anusha Thavarajah as Chief Executive Officer, Life & Health. Based in Singapore, Thavarajah will oversee the functional development of Allianz’s Life & Health business in Asia – advancing the segment’s strong growth to meet Allianz Asia’s long-term strategic ... Read the full article
Duck Creek Technologies adds reinsurance management service for carriers
12th June 2019
Duck Creek Technologies, a global provider of P&C industry insurance software, has added a new reinsurance management function to its suite of services for primary insurance carriers. The service, called Duck Creek Reinsurance Management, allows carriers to manage reinsurance partners contracts, bills, recoveries and payables. It also supports all reinsurance structures, automates ... Read the full article
Aon adds Guangjie Hopton to Intellectual Property Solutions team in Asia
12th June 2019
Aon has expanded its Intellectual Property Solutions team with the addition of Guangjie Hopton, who will focus on clients in China and the broader Asia region. Hopton joins the broker from Alibaba Group in Hong Kong, where she has spent the previous 14 years, including as Assistant General Counsel for International ... Read the full article
Marlo Edwards named President of Berkley’s Verus Underwriting Managers
12th June 2019
Marlo Edwards has been appointed as President of Verus Underwriting Managers, a subsidiary of W.R. Berkley Corporation. Edwards' appointment is effective immediately and she succeeds the retiring Dale Pilkington. She joins the firm with more than two decades of experience in the property and casualty (P&C) insurance sector, most recently serving ... Read the full article
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