Reinsurance News
Re/insurers set to pay $1 billion+ for April nat cats: Aon
13th May 2019
The latest global catastrophe recap report from insurance and reinsurance broker, Aon, reveals that insurers and reinsurers are set to pay out more than $1 billion in losses from natural disaster events that occurred in the month of April 2019. Aon's April, global catastrophe recap report highlights an extremely active month ... Read the full article
SCOR CEO calls for cyber ‘Richter scale’: reports
13th May 2019
The re/insurance industry must act together with the relevant authorities and design a common, global scale with which to accurately assess cyber loss events, according to Denis Kessler, the Chief Executive of French reinsurance giant SCOR. “It would be very helpful to have measurement and modeling tools,” Kessler added, suggesting something ... Read the full article
Most important wave of consolidation is around the corner: Twelve Capital’s Ramseier
13th May 2019
The next, and arguably the most important wave of insurance and reinsurance industry consolidation is around the corner, according to Urs Ramseier, Twelve Capital, Founding Partner, Chief Executive Officer (CEO) & Chief Investment Officer (CIO). Twelve Capital is a Zurich headquartered insurance and reinsurance linked specialist investment fund, with more than ... Read the full article
U.S P&C insurers’ financial leverage remains stable: Fitch
13th May 2019
U.S property and casualty (P&C) insurers’ financial leverage remained stable year-on-year, according to Fitch Ratings, who recorded the sector’s aggregate financial leverage ratio (FLR) at 'A-'. Fitch explained that the ratio implied debt rating guidelines at 22.6% for year-end 2018, which was down minimally from 22.9% at year-end 2017. "In the medium ... Read the full article
Increased Q1 PPL uptake across Lloyd’s while IUA usage drops
13th May 2019
First quarter data released by the Board of Placing Platform Limited (PPL) shows increased adoption levels across Lloyd’s syndicates, whereas uptake among International Underwriting Association (IUA) companies fell behind the strong numbers put up in the previous quarter. Data shows that Lloyd’s syndicates, led in the rankings by Liberty Managing ... Read the full article
A&P Worldwide Solutions registers as Lloyd’s broker
13th May 2019
A&P Worldwide Solutions Limited, a reinsurance broker based in London, has announced that it has been granted the status of a Lloyd’s broker. Registering with Lloyd’s will allow A&P to expand its operations while continuing to provide its current levels of service, the broker explained. "We are delighted to achieve Lloyd's broker ... Read the full article
Everest Insurance adds Joanna Suarez & Mary Rimbey to E&S Casualty team
13th May 2019
Everest Insurance, a division of Bermuda-based reinsurer Everest Re, has announced the addition of Joanne Suarez and Mary Rimbey to its E&S Casualty group, based in the company’s Chicago office. Suarez has joined the E&S Excess Casualty group as a Director with responsibility for underwriting excess casualty business over a range ... Read the full article
Munich Re’s Thurnim appointed Treaty Director at THB Europe
13th May 2019
Specialist insurance and reinsurance broker THB Group has appointed Zamira Thurnim to the position of Treaty Director for the company’s European operations, effective immediately. Based in the Netherlands, Thurnim will also work extensively across the growing THB markets throughout Africa. She joins from Munich Re, where most recently she held the role ... Read the full article
Lloyd’s proposes merging Franchise Board into Council
13th May 2019
Insurance and reinsurance marketplace Lloyd’s of London has detailed a proposal to merge its Franchise Board into the Lloyd’s Council as part of its ongoing drive for increased efficiency. Lloyd’s explained that the operation of both bodies leads to duplication and occasional questions around which body should undertake specific activities. Governance reports ... Read the full article
Guy Carpenter expands international analytics and advisory capabilities
13th May 2019
Global reinsurance broker Guy Carpenter has announced a number of international analytics and advisory appointments in London, including the addition of Richard Rodriguez as its new Head of Analytics and Advisory, UK and Global Specialties. Previously a Chief Actuary at Lloyd's of London, Read the full article
CNA Hardy adds new features to cyber offering
13th May 2019
Specialist commercial insurer CNA Hardy has added a number of features to its cyber proposition, including a new pre-breach service and additional coverages. The company’s policy now includes cover for impersonation fraud and social engineering, which it considers to be one of the biggest exposures for businesses. Existing and new policyholders in ... Read the full article
CatIQ updates Canadian exposure database in partnership with PERILS
13th May 2019
Catastrophe Indices & Quantification Inc. (CatIQ) has released the annual update of its Canadian insurance Industry Exposure Database (IED), developed with the support of the Canadian P&C industry and in partnership with Zurich-based PERILS AG. Launched in June 2018, CatIQ’s IED is based on exposure submissions from a majority of the ... Read the full article
AXA XL sets up Seaview Re as Class 3A reinsurer to add efficiency
10th May 2019
AXA XL has established a new Class 3A reinsurer in Bermuda called Seaview Re Ltd., we've learned, with the vehicle taking a quota share of the firms U.S. risks, including property catastrophe, and set to act as a capital efficiency play. Seaview Re Ltd. was registered by AXA XL back in ... Read the full article
Munich Re partners with Curv on digital asset insurance
10th May 2019
Munich Re has announced a new partnership with Curv, a cryptography firm for the digital economy, to provide insurance protection of up to $50m for digital assets in Curv's Institutional Digital Asset Wallet Service. The arrangement will provide Curv with the financial capability to pay for losses of crypto assets, with ... Read the full article
Resolution Life adds Rob Devey as Independent Non-Exec Director
10th May 2019
Resolution Life Group, a long-term manager of legacy life insurance portfolios, has announced the appointment of Rob Devey as an Independent Non-Executive Director. Devey was previously an Executive Director of Prudential and Chief Executive Officer of Prudential UK and Europe, and CEO of Towry. He currently serves as Chairman of Modulr Finance ... Read the full article
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