Reinsurance News
RFIB adds Stanoch as Managing Director of Americas
7th February 2019
International re/insurance broker RFIB Group has announced the appointment of Joseph Stanoch as a Managing Director of RFIB Americas, effective immediately. Stanoch, who joins with over 35 years’ experience in the reinsurance industry, will be based in the company’s Minneapolis office and report to Nick Foden-Pattinson, RFIB Group’s Managing Director of ... Read the full article
U.S hit by 14 billion dollar nat cats in 2018: NOAA
7th February 2019
The National Oceanic and Atmospheric Administration (NOAA) has released data showing the U.S experienced 14 natural catastrophes each causing over $1 billion in damages in 2018; both the number of events and their cumulative cost ranked fourth highest since records began in 1980. Hurricane Michael topped the list, inflicting over $25 ... Read the full article
Catastrophes significantly dent Aspen’s underwriting performance in Q4
7th February 2019
Aspen Insurance Holdings Limited has reported a net loss of $147 million for the fourth-quarter of 2018, as a slight increase in investment income was heavily offset by underwriting losses in both its insurance and reinsurance segments following the impacts of catastrophe losses in the period. Net of reinsurance and reinstatement ... Read the full article
Zurich on track for 2019 as P&C underwriting performance improves
7th February 2019
Global insurer Zurich saw its business operating profit (BOP) increase by 20% in 2018, helped by improved underwriting performance in its property & casualty (P&C) business despite the challenging market landscape. At $4.6 billion, Zurich's BOP for the full-year 2018 increased 20% year-on-year, while the firm's net income, after-tax and attributable ... Read the full article
Ed names Laura Skaanild Client Director, Professional & Executive Risk
7th February 2019
Reinsurance broker Ed has appointed Laura Skaanild as Client Director, Professional and Executive Risk, reporting to Paul Richards, Managing Director of the division. She brings 18 years of legal and insurance experience, and will be tasked with managing and developing the broker's client base in the financial and professional services sector ... Read the full article
R&Q looks to fund growth with £107m capital raise
7th February 2019
Randall & Quilter Investment Holdings Ltd. (R&Q), a Bermuda-based specialist non-life insurance and reinsurance investor, has raised approximately £100 million in an effort to support growth and assist in maintaining the AM Best credit and financial strength ratings of the Accredited companies. The capital raise features the placement of over 65 ... Read the full article
Beazley profits fall by 55% as cat losses & investment yields bite
7th February 2019
Specialist re/insurer Beazley saw its profits fall by 55% in 2018 following a second consecutive year of heavy catastrophe losses and low investment income. The company’s profit before tax was $76.4 million in 2018, down from $168 million in the prior year, having been impacted by $110 million of natural catastrophe ... Read the full article
AIG to launch LatAm Facultative Desk following Talbot integration
7th February 2019
American International Group (AIG) is to launch AIG Facultative Desk, Latin America after successfully integrating Talbot’s regional facultative underwriting platforms in Miami and Santiago with its regional underwriting team. This unified offering follows AIG’s acquisition of Validus last year, a deal which saw the company gain some attractive and diversified franchises ... Read the full article
LMA’s Sheila Cameron calls for seamless, digital London re/insurance market
7th February 2019
The Chief Executive Officer (CEO) of the Lloyd's Market Association (LMA), Sheila Cameron, has urged for the establishment of a seamless, digital re/insurance marketplace in London. Addressing an audience at the Insurance Network's TINtech conference, Cameron called for a digital market where processing tasks are linked seamlessly, which in turn would ... Read the full article
AXIS Re Strategic Partners hires Osterrieder from Swiss Re
7th February 2019
AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has announced the appointment of Daniel Osterrieder as North America Account Executive for AXIS Re Strategic Partners. Osterrieder arrives having spent close to a decade serving across a variety of client management and treaty reinsurance underwriting roles at Swiss Re. Most recently, ... Read the full article
SCOR expands its P&C reinsurance book by almost 10% at renewals
7th February 2019
SCOR, the France headquartered reinsurance firm and one of the top-four reinsurers globally, grew its property and casualty book by almost 10% during the key January renewal season. SCOR said that at constant exchange rates the P&C reinsurance book was renewed at EUR 3.2 billion, up from EUR 2.9 billion, an ... Read the full article
Pricing insufficient to account for climate and higher cats: Wallin, Hannover Re
6th February 2019
Ulrich Wallin, the Chief Executive Officer (CEO) of reinsurance giant Hannover Re, has underlined the fact that climate change is not included within current catastrophe pricing, adding that pricing is not sufficient to deal with increased catastrophe losses. Hannover Re recently announced a solid January renewals season, which, keeps the ... Read the full article
Sompo Global Risk launches mortgage protection product for U.S lenders
6th February 2019
Sompo Global Risk Solutions (GRS), a subsidiary of Bermuda-based specialty property and casualty (P&C) re/insurer Sompo International, now offers specialised property and liability protection to U.S banks and lending institutions for their mortgage loan portfolios. The new product offers protection from exposures created by impaired mortgages - particularly in the event ... Read the full article
RTRS adds Billy Welch to exec team as Director of Strategic Partnerships
6th February 2019
Real Time Risk Solutions (RTRS), a developer of mobile risk management solutions, has added Billy Welch to its executive team as Director of Strategic Partnerships, as the company eyes an expansion of its client network. Welch joins from Young America Capital, where he served as an investment banker helping insurance and tech ... Read the full article
W. R. Berkley appoints Arthur Davis as President of Vela unit
6th February 2019
Re/insurance holding company W. R. Berkley Corporation has appointed Arthur G. Davis as President of its subsidiary, Vela Insurance Services. Davis has more than 30 years’ experience in the property and casualty (P&C) insurance industry and joined Vela in 2018 as Senior Vice President and Chief Underwriting Officer. Prior to this, he ... Read the full article
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