Reinsurance News
Oxbridge Re records Q3 loss as net premiums drop
5th November 2019
Property and casualty reinsurer Oxbridge Re Holdings Limited has posted a net loss of $15,000 for the third quarter of 2019, driven by a more conservative capital deployment strategy that resulted in much lower net premiums earned. The company’s performance was far below the $652,000 recorded in Q3 2018, despite taking ... Read the full article
Palomar reports Q3 demand surge after Ridgecrest quake
5th November 2019
Palomar Holdings, Inc.'s third-quarter 2019 results announcement shows a significant jump in net income and underwriting income for the period, while the Ridgecrest earthquake in July contributed to a surge in demand for residential earthquake coverage. Palomar's net income increased by 376% from the prior year quarter to $7.5 million, while ... Read the full article
Swiss Re appoints Claudia Cordioli as CFO Reinsurance
5th November 2019
Swiss Re has announced that Claudia Cordioli is set to take over as Chief Financial Officer (CFO) of its global Reinsurance Business Unit from February 1, 2020. She will succeed Gerhard Lohmann, who is pursuing an opportunity outside Swiss Re and will be leaving the company towards the end of February ... Read the full article
Kemper appoints Green to lead business development, reinsurance
5th November 2019
US insurer Kemper has appointed Mark Green to oversee business development and reinsurance as executive vice president. Green will continue reporting to Kemper president and Chief Executive Officer Joseph Lacher Jr. as well as leading the firm’s life and health division until a successor is appointed. He has served as president of ... Read the full article
Digitisation to positively impact growth in ASEAN non-life markets: Report
5th November 2019
Re/insurance industry executives operating in the Association of Southeast Asian Nations (ASEAN) markets continue to take a measured approach to digitisation, but expect the rise of digital technologies to positively impact growth over the longer-term. The third edition of the ASEAN Insurance Pulse, produced by Dr. Schanz, Alms & Company on ... Read the full article
AXA XL adds Mark Campbell, David Walker to UK Life A&H team
5th November 2019
Global re/insurer AXA XL has appointed Mark Campbell and David Walker to its UK Life, Accident & Health team. Campbell most recently served as a senior underwriter at Aspen Insurance and joins as underwriting manager, wholesale A&H. In his new role, he will oversee AXA XL’s UK wholesale A&H underwriting operation, with ... Read the full article
Delek Group completes divestment in The Phoenix Holdings
5th November 2019
Delek Group has successfully completed the sale of its 32.5% stake in The Phoenix Holdings Ltd to the Centerbridge and Gallatin Point Capital investment funds, for a total consideration of NIS 1.57 billion (approximately USD 450 million). Of the total consideration, NIS 1.335 billion (approximately USD 380 million) was received in ... Read the full article
Ensurance adds Brad Green & Courtney Varney to underwriting team
5th November 2019
Ensurance, the construction and engineering MGA and Lloyd’s Coverholder, has expanded its underwriting team with the addition of Brad Green as Senior Underwriter and Courtney Varney as Underwriting Assistant. Green joins Ensurance from Aiva, where he most recently served as Engineering and Renewable Energy Senior Underwriter. He has over 20 years’ experience ... Read the full article
DA Strategy adds James Littley from The Channel Syndicate
5th November 2019
Delegated authority specialist DA Strategy has strengthened its operations with the addition of James Littley as Associate. Littley joins DA Strategy from The Channel Syndicate, where he most recently served as Head of Delegated Underwriting. He has more than 16 years’ experience in delegated authority, and previously worked as Delegated Underwriting Manager ... Read the full article
Lloyd’s-backed active assailant mitigation program launches
5th November 2019
US security specialist 1st Watch Global has partnered with Pioneer Programs Insurance Solutions and EC3 Brokers on an active assailant prevention program designed to assess the readiness of various public locations for an assault by an active assailant. Assessments, carried out by a team of ex-FBI agents and homeland security professionals, ... Read the full article
Global reinsurance market survey results show positive price expectation
4th November 2019
For the second year running we’ve collaborated with our ILS focused sister-site Artemis to conduct a survey designed to take the temperature of the global reinsurance market. This year’s survey included responses from hundreds of identifiable market participants, including numerous company CEOs and senior decision makers. Overall, approximately 72% ... Read the full article
Samsung Fire & Marine wraps up Canopius investment
4th November 2019
Samsung Fire & Marine Insurance (SFMI), part of the Korean tech giant, has completed its strategic investment in global specialty lines re/insurer Canopius. First announced in May 2019, the deal has allowed SFMI to become a significant minority investor in Canopius. Notably, SFMI and Canopius have now said that in addition ... Read the full article
Chedid Re appoints Lazhar Charfeddine to general manager role
4th November 2019
Facultative reinsurer Chedid Re has announced the appointment of Lazhar Charfeddine to oversee the firm’s portfolio in North and West Africa as general manager. Charfeddine brings over 30 years’ experience and joins from Abu Dhabi National Insurance Company, where he served as executive vice president of claims, reinsurance and engineering services. Prior ... Read the full article
Equinox Global rebrands as Nexus Specialty in the US
4th November 2019
Specialty managing general agent (MGA) Nexus Group has announced that Equinox Global Inc. has been rebranded as Nexus Specialty Inc. in the US. Nexus began operating in the US in 2017 through the acquisition of Equinox – a Specialist Trade Credit MGA and registered Lloyd’s Coverholder – and Zon Re, ... Read the full article
AIR Worldwide launches multi-peril crop insurance model for India
4th November 2019
Catastrophe modelling firm AIR Worldwide has released a Multiple Peril Crop Insurance Model for India designed to aid probabilistic assessments of potential losses caused by yield shortfalls. The event-based model covers 11 major crops across the two main growing seasons in India: Kharif - the summer period from late spring into ... Read the full article
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