Reinsurance News
Everest Re CEO Addesso encouraged by rational response to market issues
14th May 2019
The President and Chief Executive Officer (CEO) of Bermuda-based reinsurer Everest Re, Dominic Addesso, is encouraged by how the reinsurance industry is responding to recent loss activity and trends. On the back of consecutive years of increased re/insured catastrophe losses, intense competition and significant pressure on rates, first-quarter 2019 commentary from ... Read the full article
Flood Re & Lighthill Risk Network partner with re/insurers on flood modelling report
14th May 2019
Flood Re, the UK’s government-backed reinsurance scheme, has partnered with researchers at Lighthill Risk Network, as well as a number of re/insurers and brokers, to produce a collaborative report on ways to improve flood risk understanding and management. The research project compiles input from Swiss Re, SCOR, Allianz, Aspen, Lloyds TSB, ... Read the full article
Argo to reduce size of Board as Voce dispute continues
14th May 2019
Specialty re/insurer Argo has made the decision to reduce its number of Board members following recent discussions with stakeholders and long-term shareholders. According to a proxy statement filed by the firm the move will see its Board shrink from 13 members to ten over the next three years. Argo says this decision ... Read the full article
AXIS partners with cyber startup accelerator CyLon
14th May 2019
Bermuda-based insurance and reinsurance firm AXIS Capital Holdings has announced a new partnership with cyber security startup accelerator CyLon. The partnership, which aims to inform and educate cyber security startups on the threats and opportunities unique to the space, will see the two firms work together with startups entering the CyLon ... Read the full article
Lloyd’s partners with BSB to survey market behaviour & conduct
14th May 2019
Lloyd’s of London, the insurance and reinsurance marketplace, has commissioned the Banking Standards Board (BSB) to conduct an independent, market-wide culture survey on its behalf. The annual survey, which Lloyds claims is the largest ever conducted by the re/insurance sector, is intended to provide insight into standards of behaviour and conduct, ... Read the full article
Tremor adds team of market design experts
14th May 2019
As Tremor Technologies continues to advance its programmatic risk marketplace, the firm has hired a team of market designers that have previously advised governments, industry groups and leading companies. InsurTech startup Tremor operates an open, technology-driven, programmatic market for the placement of reinsurance risk, and has completed a number of auctions ... Read the full article
P&C segment drives higher profits for Allianz in Q1
14th May 2019
Global insurer Allianz has announced that the strong performance of its property and casualty (P&C) business in the first-quarter of 2019 significantly contributed to a 7.5% increase in overall operating profit, to €3 billion. The P&C segment produced robust results in the opening three months of the year for Allianz, recording ... Read the full article
Flood Re opens online facility for MGAs to cede risk directly
14th May 2019
Flood Re, the UK’s government-backed reinsurance scheme, has opened a new online facility for managing general agents (MGAs) that will allow them to cede policies directly to Flood Re on behalf of their insurer. Previously, MGAs had to collate and send ceding data through an insurer in order to apply for ... Read the full article
A.M. Best warns P&C insurers of rating downgrades ahead of TRIPRA expiration
14th May 2019
Rating agency A.M. Best has warned U.S property and casualty (P&C) insurers with exposure to terrorism risk that they could face potential rating downgrades if the Terrorism Risk Insurance Program Reathorization Act (TRIPRA) of 2015 is left to expire in 2020. The Act provides a federal backstop to insurers to help ... Read the full article
WTW enhances security, AI capabilities of Radar pricing tool
14th May 2019
Global insurance and reinsurance broker Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. Radar 4.4 implements new fine-grained security controls that simplify the application of the pricing software, ... Read the full article
Bredahl joining TigerRisk Partners as President & COO
14th May 2019
Rob Bredahl, who resigned from reinsurer Third Point Re only a few days ago, has already resurfaced as the new President and Chief Operating Officer of reinsurance brokerage, risk and capital strategic advisory TigerRisk Partners. Bredahl will join TigerRisk as from the middle of June and in addition to the ... Read the full article
Advisory firm ISS backs Argo in shareholder row, Voce responds
13th May 2019
Specialty re/insurer Argo has received a public backing of its Director nominees from the Institutional Shareholder Services (ISS), an independent shareholder advisory firm, a decision that has been described by Voce Capital Management as “baffling”. A back-and-forth between the two companies has been ongoing since February of this year, when Voce ... Read the full article
Markel names Head of North American Property Reinsurance in London
13th May 2019
Specialist insurer Markel International has announced the appointment of Nick Lazarus as Managing Director for North American Property Reinsurance, based in London. Lazarus joins Markel from Hiscox, where he worked as a Senior Underwriter and was recently involved in the fronting of Hiscox Re ILS funds and the marketing of its ... Read the full article
Re/insurers set to pay $1 billion+ for April nat cats: Aon
13th May 2019
The latest global catastrophe recap report from insurance and reinsurance broker, Aon, reveals that insurers and reinsurers are set to pay out more than $1 billion in losses from natural disaster events that occurred in the month of April 2019. Aon's April, global catastrophe recap report highlights an extremely active month ... Read the full article
SCOR CEO calls for cyber ‘Richter scale’: reports
13th May 2019
The re/insurance industry must act together with the relevant authorities and design a common, global scale with which to accurately assess cyber loss events, according to Denis Kessler, the Chief Executive of French reinsurance giant SCOR. “It would be very helpful to have measurement and modeling tools,” Kessler added, suggesting something ... 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.
