Reinsurance News
CRC Group appoints President of new Charlotte, NC office
15th October 2019
Specialty insurer CRC Group has announced the addition of Greg Watson as Office President of a new branch the firm is set to open in Charlotte, North Carolina. Watson started his career as a personal lines underwriter, and brings more than a decade of industry experience to CRC. CRC states that his ... Read the full article
Price Forbes sets up US healthcare practice, names heads
15th October 2019
Independent Lloyd's of London insurance broker Price Forbes has launched a US Healthcare practice, to be led by Paul Voller and David Fairbank. Based out of London, the practice will arrange insurance, captive reinsurance and treaty protection for Price Forbes clients, complimented by placements for cyber protection. Voller most recently served as ... Read the full article
Loss trends call for more caution regardless of ‘new normal’ question: Gen Re CEO
15th October 2019
The significant increase in loss volatility for many property and casualty (P&C) lines over the past decade should be enough to demand more caution from re/insurers, regardless of whether or not this experience represents a ‘new normal’. This is according to Kara Raiguel, President and Chief Executive Officer (CEO) of Gen ... Read the full article
ArgoGlobal adds Noel Praveen to Dubai underwriting team
15th October 2019
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, has announced the appointment of Noel Praveen to its underwriting team in Dubai. He will taken up his position as Senior Underwriter for Casualty and Professional Lines with immediate effect. Praveen joins ArgoGlobal from Abu Dhabi National Insurance Company, where he most recently ... Read the full article
UN & WWF call on re/insurers to step up World Heritage Sites protection
15th October 2019
The United Nations and the World Wide Fund For Nature (WWF) are urging global insurers and reinsurers to build on their commitments to help protect UNESCO World Heritage Sites. The organisations have called on the industry to reduce insurance and investments for companies or projects whose activities could damage sites of ... Read the full article
AXA XL announces new UK Head of Energy
15th October 2019
Peter Welton has been promoted to UK Head of Energy at AXA XL, succeeding Luis Prato, who was named Chief Underwriting Officer (CUO) for UK Legal entities earlier this year. In his new role, Welton takes responsibility for developing the UK energy book and providing and designing innovative insurance and ... Read the full article
Hagibis could exhaust AIG’s cat allowance for Japan, say analysts
15th October 2019
Typhoon Hagibis, which devasted the east coast of Japan over the weekend, could exhaust the catastrophe allowance of American International Group, Inc. (AIG) in Japan, according to analysts at Credit Suisse. The firm noted that AIG has likely already used its Japan $550 million excess of $200 million occurrence coverage ... Read the full article
B.P. Marsh’s profit falls, but NAV up 3%
15th October 2019
Specialist private equity investor B.P. Marsh & Partners Plc (B.P. Marsh) has announced profit after tax of £5.6 million for the six months to July 31st 2019, compared with £6.3 million for the same period in 2018. B.P. Marsh has released its unaudited results for the six month period ending July ... Read the full article
Cyber returns will diminish over time: S&P analysts
15th October 2019
The cyber insurance and reinsurance industry continues to be extremely profitable and shows vast potential for growth, but returns are likely to diminish as the sector becomes more firmly established. This according to Jean-Paul Huby Klein, Associate Director for Insurance Ratings at S&P Global Ratings, who commented on the prospects of ... Read the full article
Willis Towers Watson partners with RDT on Radar Live program
15th October 2019
Re/insurance broker Willis Towers Watson (WTW) has announced that insurance software house RDT has become the latest vendor to join its Radar Live Collaboration program. The program was developed to facilitate faster integrations with WTW’s Radar Live rating and rules solution through an ecosystem of insurtech software firms. WTW explained that the ... Read the full article
Voce accuses Argo of “evading responsibility” in wake of SEC subpoena
14th October 2019
Voce Capital Management has accused Argo Group's board of “evading responsibility” rather than acting in the best interests of the company and its stakeholders, days after the specialty re/insurer announced it had been issued with a subpoena by The US Securities and Exchange Commission. After news of the subpoena broke, Read the full article
Arthur J. Gallagher & Co. acquires Swedish broker Proinova
14th October 2019
Global insurance brokerage Arthur J. Gallagher & Co. has announced the acquisition of Proinova, an insurance broker based in Helsingborg, Sweden. Founded in 1989, Proinova specialises in group solutions for the real estate sector, offering insurance, loss prevention training and claims advocacy services for trade association members. It also serves clients in ... Read the full article
EmergIn Risk announces key hires to Miami, NYC offices
14th October 2019
EmergIn Risk, part of Ryan Specialty Group, has appointed David Overton and Ryan Kratz as director of sales and underwriter-cyber, respectively. Based in the EmergIn’s newly opened Miami office, Overton will oversee the development of growth globally and distribution strategy. He brings over 20 years’ experience and joins from Integro Insurance Brokers, ... Read the full article
MS Amlin exits aviation insurance market
14th October 2019
Global insurer and reinsurer MS Amlin has confirmed that it is to exit the aviation insurance market, effective October 14th, 2019. From this date, the re/insurer will no longer underwrite aviation insurance renewals or new business. MS Amlin states that this change excludes the aviation hull war portfolio which will continue ... Read the full article
Climate & tech disruption top CEO concerns in 2019, reports KPMG
14th October 2019
A new report by KPMG has determined that climate change is regarded as the most pressing concern to organisational growth amongst CEOs in 2019, with technological disruption also high on the agenda for re/insurance CEO’s in particular. The study, which surveyed 1,300 CEOs across 11 key markets and 11 industry sectors, ... 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.
