Reinsurance News
Liberty Mutual Re hires Uwe Haug from Hannover Re
7th January 2019
Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has appointed Uwe Haug as Head of Underwriting Strategy and Business Development for its global financial risks reinsurance business. Haug spent the previous two decades at Hannover Re, most recently leading its global specialty portfolio as General Manager for Northern, ... Read the full article
Munich Re appoints Nicholas J. Gartside CIO
7th January 2019
Munich Re has announced the appointment of Nicholas J. Gartside, a Managing Director at J.P Morgan Asset Management, as a member of the Board of Management and Chief Investment Officer. As CIO, Gartside will be responsible for the whole Asset Management of Munich Re (Group), starting on 18 March 2019. Gartside is ... Read the full article
Continental Re incorporates subsidiary, appoints Swiss Re’s Oumar BA to lead
7th January 2019
Pan-African reinsurer Continental Reinsurance has completed the incorporation of a subsidiary office in Douala, Cameroon, and appointed former Swiss Re Regional Manager Oumar BA to head it up. The company started its operations in Douala in 2004 as a branch office and later opened its Abidjan office in 2012 to diversify ... Read the full article
Fleming Re completes first run-off transaction
7th January 2019
Bermuda-based class 3A insurance company, Fleming Reinsurance Ltd., has announced the completion of its first run-off transaction with the novation of all liabilities from Cayman-based captive insurer United SPC Segregated Portfolio #4. According to an announcement, Fleming Re has acquired all the outstanding P&C liabilities from Sequre Underwriters, and, the preferred ... Read the full article
Nat Re’s Allan Santos elected Chairman of Philippine re/insurers association
7th January 2019
The Philippine Insurers and Reinsurers Association (PIRA), the trade association of the Philippines’ non-life re/insurance industry, has elected Allan Santos as its new Chairman. Santos, who is President and Chief Executive Officer (CEO) of the National Reinsurance Corporation of the Philippines (Nat Re), was elected by the Board of Trustees of ... Read the full article
Hamilton Underwriting appoints Robert Vetch as CFO
7th January 2019
Hamilton Underwriting Limited, the managing agency of Syndicate 3334 and the Lloyd’s operations of Hamilton Insurance Group, has appointed Robert Vetch as Chief Financial Officer (CFO). Vetch joins Hamilton Underwriting from W.R. Berkley Corporation, where he spent the previous nine years as CFO for WRB Underwriting. He has also worked as Finance ... Read the full article
Arthur J. Gallagher signs definitive agreement to acquire Stackhouse Poland
7th January 2019
U.S global insurance brokerage and risk management services firm, Arthur J. Gallagher & Co. has announced the signing of a definitive agreement to acquire specialist UK insurance broker Stackhouse Poland. This announcement follows reports last week that the private equity owners of Stackhouse Poland had hired individuals from global independent ... Read the full article
Pool Re returns contingency terrorism cover to commercial market
7th January 2019
Sufficient capital within the commercial re/insurance markets has led Pool Re, the UK’s government-backed terrorism reinsurer, to cease reinsuring its members for the contingency cover they provide to their insureds. Pool Re began writing the class after London was awarded the 2012 Olympic Games and the commercial market determined that it ... Read the full article
United Insurance extends quota share, renews catastrophe reinsurance
7th January 2019
United Insurance Holdings (United) has announced the successful extension of its current 20% catastrophe quota share reinsurance agreement until June 2019, whilst also renewing its catastrophe aggregate and other reinsurance agreements. Effective 31 December 2018, through its United Property and Casualty Insurance Company (UPC) subsidiary, United extended its 20% quota share ... Read the full article
R&Q’s Accredited enters program underwriting partnership with Kitsune
7th January 2019
Accredited Insurance (Europe), a wholly owned European subsidiary of Randall & Quilter Investment Holdings (R&Q), has entered into a new program underwriting partnership with Kitsune Limited. Kitsune is a UK-based Managing General Agent (MGA) that provides private motor insurance. Colin Johnson, Chief Executive Officer (CEO) of European Program Management at R&Q, explained ... Read the full article
Retro market disruptions may impact future renewals: Willis Re
7th January 2019
Disruptions and trapped collateral in the retrocession market may have an impact on first-tier reinsurance property catastrophe pricing levels over the upcoming 2019 renewals, according to broker Willis Re. The analysis came as part of the firm's latest 1st View report, which found that reinsurance rates at the 1 January ... Read the full article
Online re/insurance platforms could hurt competition, finds Geneva Association
7th January 2019
While online re/insurance platforms entail many benefits with regard to market transparency, transaction costs and information asymmetries, they may also pose significant challenges to consumer protection and levels of competition, according to the Geneva Association (GA). A recent report by the international think tank, titled 'Virtual Competition: Online Platforms, Consumer Outcomes ... Read the full article
QBE to enhance underwriting decisions using Cytora’s risk rating tech
7th January 2019
Global re/insurer QBE Insurance Group has adopted Risk Engine technology from artificial intelligence (AI) company Cytora to enhance underwriting decisions across its commercial portfolio. QBE explained that its partnership with Cytora will enable UK customers to purchase cover more efficiently, using Cytora’s predictive insights to recommend and tailor products to better ... Read the full article
Big data, price optimisation to face closer scrutiny: Moody’s
4th January 2019
The practice of price optimisation, in which an insurer establishes individual profiles through analysis of data not directly provided by the consumer, may come under scrutiny by the Financial Conduct Authority as it can result in individuals paying widely different prices for the same insurance cover, according to Moody’s investors ... Read the full article
Aurous Risk Partners hires two energy underwriters from Qatar Re
4th January 2019
London headquartered managing general agency (MGA), Aurous Risk Partners, has announced the appointment of two energy underwriters, both of which previously held positions at reinsurer Qatar Re and global insurer Zurich. Both Animesh Majrekar and Robert Little joined the company towards the end of last year, and started underwriting in the ... 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.
