Reinsurance News
B3i’s Markus Tradt joins Board of Corda Network
29th April 2019
Markus Tradt, Chief Technology Officer (CTO) for the Blockchain Insurance Industry Initiative (B3i), has been appointed to the Board of Directors of Corda Network Foundation, an open source distributed ledger platform created by tech firm R3. B3i switched over from Hyperledger Fabric to the Corda platform in June 2018 following a ... Read the full article
Carriers better able to estimate loss costs after AOB reform: Fitch
29th April 2019
Fitch Ratings believes that insurance carriers in Florida will be able to better estimate loss costs following the passage of a new bill designed to curtail unnecessary litigation and assignment of benefits (AOB) abuse in the state. The reforms will limit the ability of third-party service vendors to take advantage of ... Read the full article
WTW adds asset management experts to FINEX Financial Institutions practice
29th April 2019
Willis Towers Watson (WTW), the global insurance and reinsurance broker, has appointed a number of asset management experts to its FINEX Financial Institutions practice as part of its strategy to build out the business globally. Henry Keville, among others, will provide bespoke management liability product solutions and programmes for the asset ... Read the full article
Allianz in advanced talks to acquire L&G’s home insurance operation: Sky News
29th April 2019
Sky News has reported that global insurance giant Allianz is in advanced talks to purchase the home insurance business of Legal & General (L&G). According to reports, the British life insurance company's home insurance unit had been put up for sale last year, with Sky News reporting in December 2018 that ... Read the full article
Tesla insurance product to be fronted by Markel’s State National
29th April 2019
According to a more than 4,000-page filing with the California Department of Insurance, Tesla's soon to be launched insurance program for its drivers is set to be fronted by Markel Corporation subsidiary State National Insurance Company, Inc. As we explained last week, it's been reported that Tesla, the Elon Musk-led ... Read the full article
AXIS significantly expands in Japan under “quite attractive terms”
29th April 2019
Bermuda domiciled insurer and reinsurer, AXIS Capital significantly increased its exposure in Japan at the April 1st renewals, under "quite attractive terms." Speaking during the re/insurer's first-quarter 2019 earnings call, AXIS Capital President and Chief Executive Officer (CEO), Albert Benchimol, noted an "attractive Japanese market" at the most recent renewals, with ... Read the full article
RMS launches model updates for Asia Pacific earthquake, North Atlantic hurricane
29th April 2019
Catastrophe risk modelling and analytics firm RMS has released an updated suite of modelling tools, providing new views of earthquake risk in Taiwan and in six countries across Southeast Asia, as well as hurricane risk across the North Atlantic basin. The updates incorporate RMS’ latest methodologies and reflect the latest in ... Read the full article
Cyber insurance surges as risk awareness grows: Marsh report
29th April 2019
Over the last five years, the number of Marsh’s US clients purchasing cyber insurance has doubled, from 19% in 2014 to 38% in 2018, according to a new report by the global re/insurance broker. The report indicates that as risk awareness has grown, cyber insurance products have evolved to address a ... Read the full article
Beazley partnership to offer reputation risk solutions for US clients
29th April 2019
Specialty Lloyd’s re/insurer Beazley has announced a partnership with Tokio Marine Kiln and RenaissanceRe that aims to provide unique and flexible solutions for reputation risk. Custodian Consortium is designed to protect clients throughout the lifespan of a crisis by providing crisis management expertise and substantial loss-of-profits cover, to protect companies after ... Read the full article
Swiss Re signs cooperation agreement with China Pacific Insurance
29th April 2019
Global insurance and reinsurance giant Swiss Re has signed a new Cooperation Framework Agreement with China Pacific Insurance (Group) Co., Ltd., deepening ties within the important country. Swiss Re has long highlighted China as the likely source of significant growth in insurance and reinsurance premiums for the firm and has been ... Read the full article
Peak Re CEO Hahn becomes member of Geneva Association
29th April 2019
Hong Kong domiciled reinsurer, Peak Reinsurance Company Limited (Peak Re), has announced that its Chief Executive Officer, Franz Josef Hahn, has become a member of The Geneva Association, an international think tank for re/insurance and risk management issues. Established in 1973, The Geneva Association is a non-profit organisation funded by its ... Read the full article
R&Q’s 2018 profits up 45% to £14.3m despite deferred legacy deals
29th April 2019
Randall & Quilter (R&Q), the Bermuda-based program underwriting management and legacy acquisitions specialist, has posted 2018 pre-tax profits for continuing operations of £14.3 million, a 45% increase from the previous year. Meanwhile, R&Q’s continuing operating profit rose from £14.3 million in 2017 to £18.5 million. This comes despite a number of legacy ... Read the full article
QIC grows profits by 15% in Q1 with more cautious underwriting
29th April 2019
Qatar Insurance Company (QIC) has reported a net profit of USD $75 million for the first quarter of 2019, representing a 15% increase from the same period in 2018, driven by improved underwriting results and resilient investment income. In Q1 2019, QIC adopted a more restrictive and selective approach to new ... Read the full article
WTW adds Christophe Meurier as Global Head of Financial Solutions
29th April 2019
Global re/insurance broker Willis Towers Watson (WTW) has appointed Christophe Meurier as Global Head of Financial Solutions, effective July 1. Meurier succeeds Paul Davidson in the role, who is to continue as Chairman of Financial Solutions. He joins from BNP Paribas where he spent 25 years, most recently as the Head of ... Read the full article
Verisk looks to improve life insurance underwriting with Human API partnership
29th April 2019
Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API. The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers. Insurers will be able to use Verisk’s analytic tools to inform ... 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.
