Reinsurance News
PURE Group expands coverage for high-value, high-risk Californian homes
12th December 2018
Owners of high-value, high-risk home in California are being offered broader coverage than is typically found in the high net worth Excess & Surplus (E&S) market by the PURE Group of Insurance Companies. In addition, the group says brokers who serve these individuals will benefit from a faster, easier and more ... Read the full article
Benchimol to continue as AXIS CEO for a further 5 years
12th December 2018
AXIS Capital Holdings has revealed that it has extended the employment term of its President and Chief Executive Officer (CEO), Albert Benchimol, for an additional five years. Benchimol was appointed as President and CEO of AXIS in May 2012 and has served as a director since January 2012. He joined the company ... Read the full article
Blue Capital Re anticipating $17mn losses from Q4 cats
12th December 2018
Blue Capital Reinsurance Holdings Ltd., the Bermuda-based reinsurer owned by Sompo International Holdings Ltd., is expecting to incur catastrophe losses of around $17.0 million in the fourth quarter of 2018, including losses related to Hurricane Michael and the California wildfires. The company explained that its Q4 catastrophe loss estimate was net of ... Read the full article
Athene adds Scott Kleinman, Mitra Hormozi to Board
12th December 2018
Athene Holding Ltd., one of Bermuda's leading retirement services companies, has appointed Scott Kleinman and Mitra Hormozi to its Board of Directors, effective immediately. Kleinman is Co-President of Apollo Global Management and shares responsibility for all of Apollo’s revenue-generating and investing businesses, with particular focus on equity and opportunistic business. He is ... Read the full article
R&Q’s $80.5m purchase of Global Re U.S delayed until early 2019
12th December 2018
The expected completion date of Randall & Quilter Investment Holdings’ acquisition of Global U.S Holdings Incorporated has been pushed back by the company. The $80.5 million deal, first announced on 19 September 2018, was expected to be tied up by the end of the year. While the acquisition is conditional upon regulatory ... Read the full article
Enhanzed Re reinsurer launched by Enstar, Allianz & Hillhouse Capital
12th December 2018
Enhanzed Reinsurance Ltd. (Enhanzed Re) is a new joint-venture life and P&C reinsurer that is being launched by a partnership formed by Enstar, Allianz and investor Hillhouse Capital. Bermuda-based insurance, reinsurance and run-off specialist Enstar Group has invested in newly established Bermuda-based Class 4 and Class E reinsurer Enhanzed Reinsurance Ltd. ... Read the full article
Starr Insurance launches new aviation division in Brazil
12th December 2018
Starr Insurance Companies has announced that its Brazilian business, Starr International Brasil Seguradora S.A. (Starr Brazil), has obtained a local license to offer aviation insurance. It also revealed that Fernanda Strachino has joined Starr Brazil to head the new aviation division. Fernanda is an aviation specialist underwriter with more than 16 years’ ... Read the full article
Demand for non-life reinsurance to increase in 2019: A.M. Best
11th December 2018
Demand for non-life reinsurance is expected to increase over 2019, according to A.M. Best, due primarily to factors such as the return of U.S economic growth, as well as global growth and benefits from the U.S federal tax reform. Analysts at A.M. Best believe these conditions will provide opportunities for organic ... Read the full article
RSA names Mark Marshall as head of Channel Islands business
11th December 2018
RSA Group has appointed Mark Marshall as Managing Director of its subsidiary, Insurance Corporation of the Channel Islands (ICCI). Marshall has spent the previous seven years at RSA Group, most recently as Programme Manager responsible for leading RSA’s strategic response to Brexit. Prior to this, he was Finance Director for RSA’s European ... Read the full article
CoverWallet launches platform for insurance agents
11th December 2018
U.S-based Insurtech startup CoverWallet, an online platform founded in 2015 that simplifies the purchase and management of insurance for businesses, has announced the launch of a dedicated platform for insurance agents. Through CoverWallet for Agents, the company says agents will benefit from a fast, simple, and efficient way to provide commercial ... Read the full article
COIN Re appoints Andy Crichton as Executive Vice President
11th December 2018
Property catastrophe-focused reinsurance broker COIN Re has announced the appointment of Andy Crichton as Executive Vice President, effective 7 December 2018. Crichton will be based in London and will manage COIN Re’s reinsurance marketing and placement strategy. “We are delighted to have Andy on board,” said COIN Re Chief Executive Officer Ted ... Read the full article
WTW launches latest version of Radar software platform
11th December 2018
Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. WTW says Radar 4.2 gives insurers a future-proofed solution designed to achieve agile, sophisticated pricing, and a new level of ... Read the full article
Vulnerable countries push re/insurance agenda at COP24 climate event
11th December 2018
Representatives of some of the world’s most vulnerable countries have used the ongoing 24th Climate Change Conference of the Parties (COP24) in Katowice, Poland to push for a broader climate and disaster risk financing and re/insurance agenda. Members of the Vulnerable Twenty (V20) group, which represents 48 of the world's most ... Read the full article
AXA XL’s reinsurance business adds Etienne Champion to lead Underwriting in Asia
11th December 2018
AXA XL’s reinsurance business has appointed Etienne Champion as Head of Underwriting Asia, International Reinsurance, effective 1 December 2018. In his new role, Champion will be responsible for building AXA XL’s reinsurance portfolio and growing market presence in Asia. He will work together with the local reinsurance underwriting teams to further develop ... Read the full article
Citizens proposes 8.2% rate increases for Florida homeowners in 2019
11th December 2018
Citizens Property Insurance Corporation, the state-run not-for-profit insurer, has proposed to increase its average premium rates by 8.2% in 2019, driven by costly water-damage claims in South Florida. If approved by the Citizens Board of Governors and the Florida Office of Insurance Regulation, the increase would impact personal lines policyholders from ... Read the full article
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