Reinsurance News
Everest Insurance appoints two Underwriters from Ironshore
2nd April 2019
Everest Insurance, a division of global insurer and reinsurer Everest Re Group, has announced the appointments of Graeme McGeachie and Pete Graham to its International division. McGeachie has been named Casualty Class Underwriter at Everest’s Lloyd’s Syndicate 2786. He joins Everest from Ironshore Insurance, where he was the Lead Underwriter within ... Read the full article
Helios Underwriting sees attractive near-term opportunities
2nd April 2019
Helios Underwriting, the Lloyd's of London investment and underwriting vehicle, is seeing attractive near-term opportunities as it continues to outperform the Lloyd's market. Helios acquires and consolidates private underwriting capacity at the specialist Lloyd's of London insurance and reinsurance marketplace, and has recently announced current mid-point forecasts of its portfolio of ... Read the full article
LiquidX, Marsh partner on electronic platform for trade credit insurance
2nd April 2019
LiquidX, the international network for illiquid assets, has partnered with global insurance and reinsurance broker Marsh, on the launch of a "next generation" platform for the trade credit insurance sector, called the Liquid Trade Credit Insurance Marketplace. The new electronic marketplace went live recently, with numerous transactions executed and underwritten by ... Read the full article
Guy Carpenter & JLT Re combo an opportunity to provide the best of service
2nd April 2019
The combination of Guy Carpenter (GC) and JLT Re provides the brokerage with an opportunity to offer the best of service to clients around the world, according to GC President and Chief Executive Officer (CEO), Peter Hearn and Ross Howard, Vice Chairman of GC. Marsh & McLennan Companies, Inc. (MMC) ... Read the full article
Tokio Marine HCC acquires cyber specialist NAS Insurance Services
2nd April 2019
Specialty insurance group Tokio Marine HCC has announced it has acquired NAS Insurance Services, LLC, a U.S specialist in cyber and professional liability solutions. NAS is a Lloyd’s coverholder with a background in specialty product innovation, flexible policy development, open market and reinsurance solutions, and online broker portals providing 24/7 quoting ... Read the full article
Munich Re U.S to offer new personal lines homesharing product
2nd April 2019
Munich Reinsurance America, Inc. (Munich Re U.S) has announced that it plans to offer a new personal lines homesharing insurance product for hosts who rent their homes out for a profit in the U.S. The coverage will help to enhance a personal lines homeowner, renter or condo insurance policy by filling ... Read the full article
Chris McKeown steps down as Vice Chairman of New Ocean
2nd April 2019
AXA XL has announced that Chris McKeown, the former CEO of its ILS management platform New Ocean Capital Management, has stepped down from his role as Vice Chairman to pursue other interests. McKeown has more than 30 years of re/insurance and alternative capital management experience, and was the founding CEO of ... Read the full article
AXA to further reduce earnings volatility with increased use of reinsurance: Analysts
2nd April 2019
Following its acquisition of XL Group last year, global insurer AXA has been de-risking its catastrophe exposure, a trend that J.P. Morgan analysts expect to continue in 2019, with the help of alternative reinsurance capital. During last year, AXA and XL Group ceded increased volumes of catastrophe exposure to reinsurance and ... Read the full article
Former XL Group CFO Peter Porrino among new AIG Director nominees
2nd April 2019
The Board of Global insurer AIG has nominated three new candidates that will join ten of the company's current Directors standing for re-election at its Annual Meeting of Shareholders. The nominees include Peter Porrino, former Executive Vice President and Chief Financial Officer of XL Group; Amy Schioldager, former Senior Managing Director ... Read the full article
Aon raises industry loss estimates to $11bn for Michael, $5.5bn for Florence
2nd April 2019
Re/insurance broker Aon has released the highest industry loss estimates yet for the two major hurricanes that hit the U.S last year, estimating total re/insured losses of $11 billion for Hurricane Michael and $5.5 billion for Hurricane Florence. The updated figures came as part of Aon’s March Event Recap Reports, which ... Read the full article
Brexit remains an ongoing risk to Swiss Re’s ReAssure IPO, say analysts
2nd April 2019
Analysts at Deutsche Bank believe that, while Swiss Re’s planned initial public offering (IPO) of its UK closed book business ReAssure is still on track for 2019, market volatility arising from Brexit remains an ongoing risk. The global reinsurance giant’s Board of Directors proposed plans last month to introduce a ... Read the full article
Sompo International promotes Gallagher to new P&C CEO role
2nd April 2019
Sompo International (SI), the Bermuda-based specialty provider of property and casualty re/insurance, has announced the promotion of Christopher Gallagher to Chief Executive Officer of SI Commercial P&C, a newly-created role. Gallagher is currently the Chief Risk Officer and Group Actuary of SI’s Commercial P&C business and a Director of SI. He will ... Read the full article
No-deal Brexit may reduce UK life insurers’ capital and profits: Moody’s
2nd April 2019
Moody’s Investors Service expects UK life insurers to experience reduced capital and profits in the event of a no-deal Brexit scenario, as well as more limited growth prospects. The rating agency considers UK life players as particularly exposed to a no-deal outcome given their high asset leverage, their significant exposure to ... Read the full article
DAC Beachcroft names head of Global Insurance practice in London
2nd April 2019
International law firm DAC Beachcroft has announced the appointment of Liam O’Connell as head of its Global Insurance practice in London. He joins from Norton Rose Fulbright where he was most recently a partner and Head of the EMEA insurance claims team. O’Connell has previously acted for many global and London market ... Read the full article
Chubb adds policy translation feature to Worldview platform
2nd April 2019
Chubb has announced the addition of new features and improved functionality to its proprietary digital Worldview platform in order to better serve its multinational clients and brokers. The most notable of these enhancements is a new policy translation solution that is powered by machine automated technology and exclusive to Chubb and ... Read the full article
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