Reinsurance News
India set for strong re/insurance sector growth, says Moody’s analyst
24th January 2019
Strong economic progress and an evolving regulatory regime are expected to support the growth of India’s re/insurance sectors over the coming years, according to an analyst at Moody’s Investors Service. In addition, robust gross domestic product (GDP) expansion and low insurance penetration should help foster double-digit growth for the non-life sector ... Read the full article
Incumbent insurers need to embrace tech, innovation: Simplitium
24th January 2019
Innovation across the insurance industry is about more than just new technologies and solutions, but includes behaviours and attitudes. And while incumbent insurers are increasingly looking to purchase InsurTech firms, there's a risk of complacency, according to James Lay and Matthew Jones from Simplitium, a provider of risk analysis. In a recent ... Read the full article
Fourth Industrial Revolution “transforming modern life”: Swiss Re’s Ojeisekhoba
24th January 2019
Swiss Re’s Chief Executive Officer of reinsurance Moses Ojeisekhoba has emphasised the re/insurance industry’s place within the so-called 'Fourth Industrial Revolution' - which he says is transforming every part of modern life with unprecedented speed and scale of technological progress and digitisation - amid the World Economic Forum’s (WEF) annual ... Read the full article
Willis Re International names Shea Head of Strategic & Financial Analysis
24th January 2019
Willis Re, the reinsurance arm of international broker Willis Towers Watson, has announced the appointment of Brian Shea as Managing Director and Head of Strategic and Financial Analysis for Willis Re International. Shea was previously Head of Willis Towers Watson Securities Europe, having joined the company in 2015. He has 26 years’ ... Read the full article
Modest, regionalised price increases expected throughout 2019: S&P
24th January 2019
Despite reinsurers globally holding out for meaningful pricing movement after shouldering roughly a quarter of the $80 billion insured losses throughout 2018, S&P Global Ratings expects the modest, increasingly regionalised price increases seen at the January renewals to persist throughout 2019. Furthermore, the rating agency believes that 2018’s losses exceeded cat ... Read the full article
Luxembourg selected as post-Brexit hub by 11 re/insurers in 2018
24th January 2019
Luxembourg saw the arrival of 11 new global insurance and reinsurance companies in 2018, which decided to move their European headquarters to the country ahead of the UK’s planned departure from the European Union (EU) in March 2019. Most of these companies have already started operating with their new licences, and ... Read the full article
Miller expands entertainment offering with new music team
24th January 2019
Miller Insurance Services, a London wholesale and specialist re/insurance broker, has expanded its entertainment offering with the addition of four new specialists in music insurance. The music team is led by Martin Goebbels and consists of Holly Leary, Pamela Choat, and Rose Burgess. The group have worked together for many years and ... Read the full article
Re/insurers should consider rewarding climate resilience efforts: Aon
23rd January 2019
Insurers and reinsurers should consider responding to climate change risks by rewarding corporate resilience efforts with premium discounts or access to additional capital, according to Aon. The broker noted in its latest Weather, Climate & Catastrophe Insight report that recent trends in natural disaster activity are putting increasing pressure on re/insurers ... Read the full article
AXA Venture Partners raises $150m for early stage insurtech investments
23rd January 2019
AXA Venture Partners (AVP), the venture capital arm of French insurer AXA, has raised $150 million for its second early stage fund, AVP Early Stage II. Similar to AVP’s first early stage fund, which was completed back in 2015 and raised $110 million, AVP Early Stage II will focus on North America, ... Read the full article
California homeowners’ market hardens after wildfire losses: MarketScout
23rd January 2019
California homeowners’ rates climbed in the fourth quarter of 2018 as insurers reacted to historic levels of wildfire losses, according to data from MarketScout. Analysts noted that the market appears to be hardening, with rates for homes under $1 million increasing by 3% and by 2% for homes under $1 million. Additionally, ... Read the full article
RSA names Karen Caddick as Group & UK HR Director
23rd January 2019
RSA Group, one of the largest UK commercial insurers, has announced the appointment of Karen Caddick as Group & UK HR Director. She replaces Cathy Lewis, who has served in the role since 2016 and is due to retire from executive work this year. “With a strong track record inside and outside of ... Read the full article
W. R. Berkley names Gary Gudex President of North Pacific subsidiary
23rd January 2019
Re/insurance holding company W. R. Berkley Corporation has appointed Gary Gudex as President of its subsidiary Berkley North Pacific, effective immediately. Gudex joins the regional commercial property and casualty insurer with over 30 years’ experience in the industry. He has served as Director of Underwriting at the corporation's subsidiary Berkley Net since ... Read the full article
Travelers to pull-back on California wildfire exposure
23rd January 2019
U.S primary insurer Travelers has revealed that it plans to reduce its exposure to California wildfire risk following back-to-back years of elevated losses. Michael Klein, President, Personal Insurance and Head of Enterprise Business Intelligence & Analytics at Travelers, explained that the insurer had “already taken action in 2017 to begin to ... Read the full article
Cat-exposed property lines to see double-digit rate increases: AmWINS
23rd January 2019
The property re/insurance market experienced some firming at the recent January renewals, which could translate into double-digit rate increases for catastrophe-exposed business as we progress further into the year, according to analysts at AmWINS. The specialty insurer added that spikes of up to 40% were “not out of the question” for ... Read the full article
Newline adds Markus Schäfer to Cologne team
23rd January 2019
Speciality insurance group Newline has appointed Markus Schäfer as Senior Underwriter, General Liability at Newline Insurance Company Limited in Cologne. Newline set up offices in Cologne last year after announcing in May that it had selected the city as the location for the European Union (EU) insurance hub of Newline ... Read the full article
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