Reinsurance News
Jeff Burt named President of Hannover Re US
21st February 2019
Hannover Life Reassurance Company of America (Hannover Re US), a division of German-based reinsurance giant Hannover Re, has promoted Jeff Burt to President. The appointment sees Burt take responsibility for the reinsurer's life and health reinsurance operations in the U.S. He first joined Hannover Re US roughly 16 years ago as Vice ... Read the full article
GTCR acquires broker AssuredPartners from Apax VIII
21st February 2019
Apax VIII is to sell its entire stake in U.S. insurance brokerage AssuredPartners to an investor group led by Chicago-based GTCR, which actually owned the broker from its inception in 2011 before its sale to Apax VIII in 2015. The deal reunites previous backer GTCR with AssuredPartners roughly four years after ... Read the full article
Irma loss creep & AOB costs to drive up primary rates in Florida, says COIN Re
21st February 2019
Unprecedented levels of loss creep stemming from Hurricane Irma, as well as costs related to loss adjustment expenses and assignment of benefits (AOB) lawsuits, are likely to drive up insurance rates for Florida homeowners, according to reinsurance broker COIN Re. Analysts at the Florida-based broker, which was launched in October ... Read the full article
Swiss Re names Anette Bronder as Chief Operating Officer
21st February 2019
Swiss Re has announced the appointment of Anette Bronder as Group Chief Operating Officer (COO) and member of the Group Executive Committee, effective 1 July 2019. She will succeed outgoing COO Thomas Wellauer, who is retiring at the end of June. Bronder joins Swiss Re from T-Systems International, where she was a ... Read the full article
Munich Re looks to digitise processes with Coupa Software partnership
21st February 2019
Global reinsurer Munich Re is partnering with business spend management (BSM) provider Coupa Software as it looks to reduce paper invoicing, simplify and standardise procurement and related spend management processes, and provide suppliers with a unified platform for simpler and faster global transacting. Coupa has been tasked with transforming Munich Re’s ... Read the full article
SCOR Life & Health invests in startup HumanAPI
21st February 2019
SCOR Life & Health Ventures, a division of the France-headquartered reinsurer, has invested in health data consolidation platform HumanAPI as SCOR Global Life looks for ways to streamline the life insurance underwriting process. HumanAPI is a San Francisco-based company that allows a consumer to centralise and share their health data (from sources ... Read the full article
Eurobase’s synergy2 platform delivered in step with London Market TOM
21st February 2019
Eurobase International Group, an international software and service provider to financial institutions, has announced that its Synergy2 platform is the first to go into production with integrated Structured Data Capture (SDC), allowing for the delivery of straight-through processing for risk creation via the Global Placement Message (GPM). SDC is an online ... Read the full article
Orchid Insurance appoints MD for Corporate Development & Strategy
21st February 2019
Orchid Underwriters Agency, LLC (Orchid Insurance), a specialty underwriter of catastrophe exposed property insurance, has appointed Joe Zuk as Managing Director (MD) of Corporate Development & Strategy. In this newly created role, he will be responsible for Orchid’s corporate development and strategic initiatives across the enterprise, reporting to Brad Emmons, President ... Read the full article
InsurTech incubator Nassau Re/Imagine launches
21st February 2019
Nassau Re has announced the establishment of an InsurTech incubator, Nassau Re/Imagine, launched to assist selected start-ups focused in life insurance, annuity and reinsurance industries. The reinsurer's new InsurTech incubator is to be based in its Boat Building headquarters in Hartford, Connecticut, and will provide complimentary office space as well as business ... Read the full article
Prime adds Berkshire’s NI, AXA XL & TransRe to program
21st February 2019
Prime Insurance Company, a subsidiary of Prime Holdings Insurance Services, has added the Berkshire Hathaway-owned National Indemnity Co., AXA XL, and Transatlantic Re to its roster of re/insurers. Rick J. Lindsey, Chief Executive Officer, President and Chairman of the excess and surplus lines insurance carrier said the company is pleased to ... Read the full article
Large claims bill dents Swiss Re’s 2018 net income
21st February 2019
Global reinsurance giant Swiss Re has reported Group net income of $421 million for the full-year 2018, as estimated large claims of $3 billion significantly impacted the performance of both its property and casualty reinsurance (P&C Re) and Corporate Solutions' units. As well as the hit from catastrophe events in 2018, ... Read the full article
PartnerRe adds Chubb’s Jacques Bonneau to Board of Directors
20th February 2019
Bermuda-based reinsurer PartnerRe has announced the addition of Jacques Bonneau to its Board of Directors, effective February 20. Bonneau joins from Chubb where he served as Group Chief Underwriting Officer between 2014 and 2017. Previously, he served a the Chief Executive Officer of Chubb Tempest Re Group from 2005 for nine years. Prior ... Read the full article
Everest adds Ironshore’s Flaherty to retail property team
20th February 2019
Everest Insurance, a division of global insurer and reinsurer Everest Re Group, has added Kevin Flaherty to its retail property team in the U.S East region. Flaherty most recently served as an Assistant Vice President at Ironshore Insurance and before that a Senior Underwriting Specialist at Liberty International. This new role will ... Read the full article
AbsoluteClimo announces new cat model, predicts $153bn losses in 2019
20th February 2019
AbsoluteClimo, a Hawaii-based climate modelling, forecasting and risk management company, has announced a new catastrophe risk model that is predicting global climate-driven cat losses of $153 billion in 2019. The new model, called Clim๏Cats, utilises AbsoluteClimo’s machine learning predictive engine to link climate physics – such as temperature, rainfall and wind ... Read the full article
Former Aspen CEO to receive $10m bonus following takeover
20th February 2019
Christopher O’Kane, former Head of Aspen Insurance, is to receive a transaction bonus totalling $10 million following the recently-completed acquisition of the company by affiliates of certain Apollo investment funds. O’Kane is reportedly being paid this bonus for his efforts in assisting the company to consummate the deal. Additionally, Group Chief ... 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.
