Reinsurance News
Relation appoints CFO and Head of M&A, adds Jeff Greenberg to Board
2nd May 2019
Independent U.S brokerage Relation Insurance Services has announced the appointment of Chris McKechnie as Chief Financial Officer (CFO) and Tim Hall as Executive Vice President and Head of M&A. Additionally, following the announcement of its acquisition by Aquiline Capital Partners LLC in February 2019, Relation has added Jeff Greenberg, Chairman ... Read the full article
Re/insurance market turning more positive, say analysts
2nd May 2019
Analysts at Canaccord Genuity believe signs of a steady re/insurance market turn might be starting to materialise, underpinned by a return to underwriting discipline and a shift from market dynamics more favourable to buyers of protection. Discussing a recent Willis Towers Watson (WTW) report, analysts note a more positive outlook for commercial ... Read the full article
Aon adds JLT’s Dave Barratt to its UK Risk Settlement team
2nd May 2019
Global insurance and reinsurance broker Aon has appointed JLT's Dave Barratt as a Senior Consultant within its UK Risk Settlement team. Barratt joins after spending 13 years with rival broker JLT, where he was an experienced defined benefits settlement consultant within JLT Employee Benefits. Throughout his career, Barratt has advised numerous trustees and ... Read the full article
Allstate grows catastrophe reinsurance program by $363 million
2nd May 2019
The Allstate Corporation has expanded its catastrophe reinsurance program for 2019 - 2020 to $4.863 billion, compared with a $4.5 billion program in the previous year. Overall, Allstate's total catastrophe reinsurance spend in the first-quarter of 2019 was $88 million, compared with a total spend of $85 million in the prior ... Read the full article
Allied World establishes retakaful window
2nd May 2019
Global insurer and reinsurer Allied World Assurance Company Holdings, GmbH has announced the development and launch of a new retakaful window by the Labuan branch of Allied World Assurance Company, Ltd. The Labuan Branch retakaful window has been established to take advantage of both consumer and commercial opportunities. According to an announcement ... Read the full article
Ryan Specialty completes acquisition of International Specialty Insurance Services
2nd May 2019
Ryan Specialty Group, LLC, has acquired the assets and operations of North Carolina-based independently owned managing general underwriter, International Specialty Insurance Services Inc. (ISI). The deal was initially announced in February 2019, and makes ISI's team part of RSG Underwriting Managers, LLC, which is the managing general underwriting division of ... Read the full article
McGill & partners launch specialty risk solutions broker, advisor with Warburg Pincus
2nd May 2019
A team of industry stalwarts led by insurance broking veteran Steve McGill - who served as Aon Group President for over a decade - has joined forces with leading global private equity firm Warburg Pincus to launch McGill & Partners, a major new specialty risk solutions business. Industry executives confirmed to ... Read the full article
Hartford buying ADC for Navigators from Berkshire Hathaway
2nd May 2019
The Hartford has announced that it plans to buy $300 million of adverse development cover (ADC) from Berkshire Hathaway to protect it against unfavourable loss reserve movement at The Navigators Group, which The Hartford is in the process of acquiring. Subject to the closing of its acquisition this summer, The Hartford ... Read the full article
Early signs of greater market discipline: Lancashire CEO, Maloney
2nd May 2019
The insured catastrophe loss experience of the past two years has demonstrated that rates in many lines of business had fallen too low, but signs of greater market discipline are starting to show, according to the Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney. Following a prolonged soft reinsurance ... Read the full article
Mid-year reinsurance renewals could be similar to April 1: JMP analysts
2nd May 2019
The upcoming mid-year reinsurance renewals are likely to produce similar results to the recent Japan April 1st renewals, underpinned by respectable but uninspiring increases owing to an abundance of available capital in the market, according to analysts at JMP. Analysts highlight disappointing rate improvements at the January 1st 2019 renewals, followed ... Read the full article
Atlantic Council launches global resilience center
2nd May 2019
The Atlantic Council, a think tank based in Washington, D.C., has announced the launch of a new center that aims to enhance the resilience of one billion people around the world by 2030. The Adrienne Arsht-Rockefeller Foundation Resilience Center will launch following a $25 million gift from business leader and philanthropist ... Read the full article
RoE fails to cover cost of equity for the Aon Reinsurance Aggregate
1st May 2019
For two years in a row, the return on equity (RoE) across the Aon Reinsurance Aggregate (ARA) has fallen below the ARA cost of equity, which is expected to drive further consolidation within the reinsurance sector, according to global broker Aon. Insurance and reinsurance broker Aon has released the latest edition ... Read the full article
Miller adds Richard Griffiths as Political Risk Insurance Specialist
1st May 2019
Global re/insurance broker Miller has added Richard Griffiths as Credit and Political Risk Insurance Specialist, a position that will see him develop the use of non-payment Insurance for banks looking to manage risk and capital effectively. Griffiths started out in 1983 at Barclays Bank, working in the company’s London, and Hong Kong ... Read the full article
Langhorne Re appoints Chief Actuary for Bermuda
1st May 2019
Langhorne Re, a global reinsurer targeting large in-force life and annuity blocks, has announced the appointment of Timothy Gasaatura as Chief Actuary of Langhorne Re Bermuda, its Bermuda domiciled underwriting platform Gasaatura joins Langhorne Re from AIG Bermuda/Fortitude Re, where he most recently served as Chief Risk Officer. In this role, he ... Read the full article
UK broker NDI opens new London office, expands internationally
1st May 2019
NDI, an insurance and reinsurance broker based in Norwich, UK, has announced that it is expanding its international presence and moving its London office into The Gherkin in the city’s financial district. Established in 1995, NDI places reinsurance for sectors including the property, construction, aviation, marine, liability and health sectors with ... Read the full article
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