Reinsurance News
Brokers key to future weather risk market growth: Malinow, Sompo Global Weather
30th January 2019
The weather risk market continues to expand and remains competitive for a sector with few experienced dealers, but for future growth potential to be realised, brokers have a key role to play, according to Martin Malinow, President of Sompo Global Weather, a division of Sompo International Holdings Ltd. Reinsurance News recently ... Read the full article
Analysts say December Sydney hailstorm could cost re/insurers AU$2bn
30th January 2019
The total loss to insurers and reinsurers from the major hailstorm that struck Sydney and the surrounding area in December 2018, could be as much as AU$2 billion (US$1.44bn), according to analysts. Analysts at Firetrail Investments, an Australian investment management firm, have said that the hailstorm and severe convective weather outbreak ... Read the full article
Aon announces departure of Broking unit CEO Fitzgerald
30th January 2019
Global insurance and reinsurance broker Aon has announced that Tom Fitzgerald, Chief Executive Officer (CEO) of Aon Broking, is to leave the company after 27 years of global service. Prior to his role as CEO of Aon Broking, Fitzgerald led the U.S. Commercial Risk and Health operations. Aon has said that ... Read the full article
Travelers Europe obtains licence for Dublin subsidiary as Brexit nears
30th January 2019
Travelers Europe, a division of The Travelers Companies Inc., has been granted a licence by the Central Bank of Ireland for a new insurance subsidiary based in Dublin, in order to ensure continuity for its clients post-Brexit. The new insurer, called Travelers Insurance Designated Activity Company (Travelers Insurance DAC), is intended ... Read the full article
Public-private partnerships urgently needed to build climate resilience: Swiss Re
30th January 2019
Further cooperation is urgently needed between the public and private sectors in order build global resilience to climate change and the growing threat of natural catastrophes, according to reinsurance giant Swiss Re. Reporting from the World Economic Forum 2019 event in Davos, Switzerland, Swiss Re said that public-private partnerships, such as ... Read the full article
Moderate casualty reinsurance rate increases expected in 2019: AmWINS
30th January 2019
After several years of declines, casualty reinsurance premiums bucked the recent trend in 2018, and going into 2019, continued, modest increases are expected in primary casualty reinsurance, according to AmWINS. According to the global specialty insurance provider, rate increases in casualty reinsurance are being driven by a number of factors. This ... Read the full article
Treefrog reveals catastrophe underwriting & pricing platform for reinsurers
30th January 2019
Bermuda domiciled Treefrog Consulting has partnered with Foundation Platform Technologies on the development of a new cloud-based catastrophe underwriting and pricing platform for the reinsurance and insurance-linked securities (ILS) sectors. The new software platform is designed to dramatically speed up the pricing of even the most complex risks for reinsurers and ... Read the full article
Watford Re’s parent files for NASDAQ IPO
30th January 2019
The parent company of Bermudian reinsurer Watford Re, Watford Holdings Ltd., has announced that it has now publicly filed a registration statement on Form 10 with the U.S. Securities and Exchange Commission, as it looks to be listed on the NASDAQ Global Market. Watford Re is the third-party capital backed total-return ... Read the full article
Lockheed Martin completes two pension risk transfer agreements
30th January 2019
Lockheed Martin Corporation, a global security and aerospace firm, has announced its involvement in two new pension risk transfer agreements, including a $1.8 billion buy-out with a subsidiary of Prudential Financial, Inc. The buy-out agreement sees Lockheed Martin transfer roughly $1.8 billion of its pension obligations via the purchase of a ... Read the full article
SCOR announces one-off bonus to eligible employees
30th January 2019
Global insurer and reinsurer SCOR, has announced a decision to award a one-off bonus of €1,000 to all of its employees in France who are on a salary that is less than 1.5 times the minimum wage. A bonus of €500 will be awarded to employees in France with a ... Read the full article
Catastrophes hit RenRe’s fourth-quarter results
30th January 2019
Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has announced a net loss of $83.9 million for the fourth-quarter of 2018, driven by the impact of catastrophe losses. The $83.9 million Q4 net loss compares with a net loss of $3.5 million for the same period in 2017. The reinsurer states that Hurricane Michael, ... Read the full article
Lloyd’s appoints former U.S Senator John Sununu to Council
30th January 2019
Lloyd’s has appointed former U.S Senator John Sununu as a member of its Council on a three-year term. During his time in the senate, he served on the Senate Banking Committee - where he actively prioritised insurance issues - and the Senate’s subcommittee on Science, Technology and Innovation. Effective 6 February, the ... Read the full article
Arch Insurance appoints Eric Boquist as EVP for Retail Energy
30th January 2019
Arch Insurance North America has announced the appointment of Eric Boquist to the role of Executive Vice President (EVP) for Retail Energy. Boquist joins Arch from Travelers, where he most recently served as President of the insurer’s Oil & Gas unit in Houston, Texas. In his new role, he will remain in ... Read the full article
Stephen Warwick named CEO of Reinsurance, Asia Pacific at RFIB
30th January 2019
International insurance and reinsurance broker, RFIB, has appointed Stephen Warwick as Chief Executive Officer (CEO) of Reinsurance, Asia Pacific, effective February 1st, 2019. In his new role, Warwick will report to Kevin Stratton, Managing Director of the broker's Specialty division. He will be based in Hong Kong where he will establish ... Read the full article
IUA outlines 2019 priorities for London company market
30th January 2019
The International Underwriting Association (IUA) has outlined its priorities for the London company market in 2019, which include the publication of a major report om the wholesale insurance market and the fall-out from Brexit, among other concerns. The IUA explained that it is preparing to discuss any findings or recommendations with ... 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.
