Reinsurance News
Insurtech firm Hippo Insurance integrates Verisk solutions
8th March 2019
Hippo Insurance, a California-based insurtech company focused on home insurance, has announced that it has integrated Verisk solutions into its full range of products. By using data from Verisk, Hippo says it can automatically fill in the information needed to quote and bind a home insurance policy and supply customers with ... Read the full article
Experts cautiously optimistic on April & mid-year renewals: AIFA
8th March 2019
Experts are generally expressing cautious optimism about the prospects for reinsurance rate increases at the upcoming April and mid-year renewals, according to analysts attending the Association of Insurance and Financial Analyst (AIFA) Conference this week. The Buckingham Research Group noted that there was meaningful optimism on the upcoming renewals despite some ... Read the full article
Everest adds Ayesha West from Navigators as Cyber VP
8th March 2019
Everest Insurance, a division of global insurer and reinsurer Everest Re Group, has appointed Ayesha West as Vice President of its cyber insurance group. West will be tasked with the management and development of the company’s national cyber insurance underwriting team and will be based in New York, reporting to Head ... Read the full article
Munich Re develops insurance for long-term battery performance
8th March 2019
Global reinsurance giant Munich Re is the first re/insurer to provide a solution that protects battery performance, enabling manufacturers in the battery market to offer long-term performance guarantees. Munich Re's latest development in the energy sector sees it become the first in the world to offer long-term insurance for battery performance, ... Read the full article
Emerging Asia’s expanding ecosystem is substantial, self-sufficient: Peak Re’s Kershaw
8th March 2019
There’s an expanding ecosystem in emerging Asia which is now substantial and self sufficient for the majority of its business, according to Peak Re’s Managing Director of Global Markets, Chris Kershaw. Addressing an audience yesterday in the Old Library at the Lloyd’s of London headquarters, Kershaw said it is no longer ... Read the full article
Munich Re’s ERGO to sell four more European units to EIG
8th March 2019
ERGO International AG, a division of global reinsurer Munich Re, has announced that it plans to sell four more of its European insurance subsidiaries to Euroins Insurance Group (EIG). Representatives of both parties have signed a purchase agreement relating to the sale of ERGO’s life and non-life subsidiaries in Romania and ... Read the full article
Lockton forms reinsurance business, names leadership
8th March 2019
Re/insurance broker Lockton has moved to form a new global reinsurance business, Lockton Global Re. Lockton has stated that reinsurance is a critical pillar of its aggressive growth plan and this new business will, under the leadership of the firm’s Chief Executive Officer Ron Lockton, look to build out its current ... Read the full article
Marsh launches intellectual property solution
8th March 2019
Global re/insurance broker Marsh has launched an insurance solution specifically tailored to address risks associated with an organisation’s intellectual property (IP). IP Protect is a proprietary Marsh policy backed by Ambridge Partners, a managing general underwriter of transactional, complex management liability, and intellectual property insurance products. “As the importance of IP rights ... Read the full article
Descartes Underwriting appoints Head of ILS and Cat Modelling
8th March 2019
Descartes Underwriting, the newly launched parametric and data-driven MGA, has appointed Edern Le Roux as Director, Head of ILS and Cat Modeling Le Roux joins Descartes from SCOR Investment Partners, where he has served since 2014 as Head of ILS Risk, with responsibility for the Risk Management of the ILS ... Read the full article
Australia’s Queensland floods to cost re/insurers $893mn: Aon
7th March 2019
The re/insurance industry is expected to incur losses of AUD $893 million (USD $635 million) as a result of the widespread flooding that affected Australia’s North Queensland from January 26 to February 7, according to Aon’s Impact Forecasting team. The estimate came as part of Aon’s monthly Global Catastrophe Recap report, ... Read the full article
AXA XL and Assurely partner on crowdfunding investor protection
7th March 2019
AXA XL has partnered with insurtech firm Assurely on an insurance product for issuers and investors that safeguards new online capital formation strategies, including equity crowdfunding and security token offerings (STOs). The product, called CrowdProtector, provides issuers protection against investor complaints and lawsuits, and communicates to investors that they may have ... Read the full article
Hayley Spink named Head of Global Operations, Lloyd’s of London
7th March 2019
Lloyd's of London has announced the appointment of Hayley Spink as Head of Global Operations, succeeding Joe Dainty, who leaves the marketplace in March to join DXC. In her new role, Spink will report to Chief Operating Officer (COO), Shirine Khoury-Haq. She joined Lloyd's in 2007 and has served in a number ... Read the full article
Zurich partners with riskmethods on supply chain risk and management services
7th March 2019
Zurich Insurance Group has announced a new strategic partnership with supply chain risk management firm, riskmethods GmbH, to provide the insurer's commercial clients with new supply chain and risk management services. Zurich states that its risk engineering and insurance expertise, combined with riskmethods' unique artificial intelligence (AI) driven technology will enable ... Read the full article
Rating downgrades for U.S P&C re/insurers doubled in 2018, says A.M. Best
7th March 2019
Credit rating downgrades in the U.S property and casualty (P&C) re/insurance segment more than doubled year over year in 2018, according to a new A.M. Best report. The rating agency said factors such as catastrophic weather losses, challenging pricing in competitive lines of business and capital market volatility had reversed a ... Read the full article
Tokio Marine HCC President William Burke to retire, successor revealed
7th March 2019
It has been announced that William Burke, the President of specialty insurance group Tokio Marine HCC, will retire on 1 April 2019. Current Executive Vice President Michael Schell will step into the role upon Burke’s departure. Burke, who will continue as a member of the Board of Directors following his retirement, ... Read the full article
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