Reinsurance News
Insurers’ post-Brexit European branches generate more business in 2018: IUA
10th October 2019
As London market participants continue to prepare for the uncertain impacts of Brexit, the amount of new business being generated through established European branches and the volume of controlled business written in Europe (excluding the UK and Ireland), increased by more than 9% to £4.89 billion in 2018, reports the ... Read the full article
Lloyd’s chairman Carnegie-Brown takes on role at auto insurtech Cuvva
10th October 2019
Bruce Carnegie-Brown, the Chairman of specialist re/insurance marketplace Lloyd's of London, has taken on a new role at auto insurtech Cuvva, The Financial Times has reported. App-based Cuvva allows users to purchase car insurance by the hour, day, week or month and was founded in 2014 by Freddy Macnamara and James ... Read the full article
Aon enhances client leadership & services in next stage of growth strategy
10th October 2019
Re/insurance broker Aon has announced the next stage in its ‘Delivering Aon United’ growth strategy, which will see the firm implement a common standard for client leadership and create new hubs to support back and middle-office client services. Aon explained that the new leadership strategy will leverage best practices to increase ... Read the full article
Munich Re’s asset manager MEAG names Andree Moschner Chairman
10th October 2019
It's been announced that Andree Moschner will take over as Chairman of the Management Board of MEAG MUNICH ERGO asset manager GmbH, alongside his responsibilities as member of the Management Board of ERGO Group AG, effective November 1st, 2019. MEAG is the asset manager of reinsurance giant Munich Re and ERGO, ... Read the full article
Insurance Council of Australia declares catastrophe for Rappville bushfires
10th October 2019
The Insurance Council of Australia (ICA) has announced a bushfire catastrophe declaration for the area around the northern New South Wales (NSW) community of Rappville and fires in the Busby Flat and Drake areas. This is the ICA's second bushfire catastrophe declaration in five weeks for properties either damaged or destroyed ... Read the full article
Joint cyber terrorism task force launched by IFTRIP & Geneva Association
10th October 2019
The International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) has collaborated with the Geneva Association (GA) on the launch of a joint task force on cyber terrorism and cyber warfare. The launch of this new task force was announced at the IFTRIP 2019 International Conference in Brussels, Belgium. The initial findings ... Read the full article
Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty
10th October 2019
The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article
Specialist MGA Thames expands team with four new underwriters
10th October 2019
Niche construction and commercial lines MGA Thames Underwriting has appointed four underwriters to be split between a new office in Leadenhall Street and its headquarters in Leigh-on-Sea, Essex. Stuart Daffin and Paul Savva both join the newly established London office as construction new business underwriters and most recently served at HSB ... Read the full article
Marsh adds Aon directors to UK Real Estate Practice
10th October 2019
Global re/insurance brokerage Marsh has announced the appointments of Bryce Check as a Business Relationship Director and Anna Whitfield as a Client Service Director, both within its UK Real Estate Practice. Part of Marsh JLT Specialty, the UK Real Estate Practice provides insurance and risk advisory services to real estate owners, ... Read the full article
Tokio Marine HCC appoints Co-Chief Financial Officers
10th October 2019
Specialty insurance group Tokio Marine HCC has announced the appointments of Sharon Brock and Tom Weist as Co-Chief Financial Officers. Effective from October 1, 2019, Brock and Weist take over the role from Brad Irick, who has been named as the next Group Chief Executive Officer (CEO) of Tokio Marine Kiln. Brock ... Read the full article
Property underwriting improvements to continue through early 2020: Lockton
10th October 2019
Analysts at global re/insurance brokerage Lockton expect the more discerning approach of underwriters in the US property market to continue through at least into early 2020, based on performance this year. Lockton noted that there is still plenty of capital in the marketplace, but deployment is becoming tighter, leading to an ... Read the full article
EIOPA adds members to Insurance & Reinsurance Stakeholder Group
10th October 2019
The European Insurance and Occupational Pensions Authority (EIOPA) has announced the appointment of Liane Hirner and Desislav Danov as members of its Insurance and Reinsurance Stakeholder Group (IRSG). EIOPA consults its stakeholder groups on action concerning regulatory technical standards and their implementation. Members of stakeholder groups can also submit opinions and advice ... Read the full article
Aspen appoints Mauro Signorelli as Head of International Cyber
9th October 2019
Aspen Insurance, the insurance arm of Bermudian re/insurer Aspen Insurance Holdings Limited, has announced the appointment of Mauro Signorelli as Head of International Cyber. Mauro previously worked as Senior Underwriter, Technology Liability and Cyber Risk Insurance at Aspen Insurance, having joined the company in February 2017. Prior to this, he spent five ... Read the full article
£70 billion of longevity deals completed by FTSE 100 companies: Aon
9th October 2019
More than one-third of FTSE 100 companies with defined benefit (DB) pension schemes have taken steps to remove longevity risk via bulk annuities and longevity swap transactions, reports global insurance and reinsurance broker, Aon. To date, £70 billion of completed longevity risk transactions by FTSE 100 firms have taken place, with ... Read the full article
Argo issued SEC subpoena over exec compensation
9th October 2019
Specialty re/insurer Argo has been subpoenaed by The US Securities and Exchange Commission over compensation practices for its executives, and is now conducting an internal review. This development is the latest chapter in what started as a messy back-and-forth between Argo and its fourth-largest shareholder Voce Capital Management. The public ... Read the full article
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