Reinsurance News
ArgoGlobal names Head of Operations for Europe, Middle East & Asia
1st April 2019
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, has announced the appointment of Helen Donegan as Head of Operations – Europe, Middle East and Asia. Donegan joins ArgoGlobal from MS Amlin, where she has served as Group Head of Underwriting Management since the merger of Amlin and MSIG in 2017. Prior ... Read the full article
Lloyd’s CEO Neal becomes interim sponsor of London Market TOM
1st April 2019
John Neal, the Chief Executive Officer of Lloyd’s, is to take over as the interim sponsor of the London Market's Target Operating Model (LM TOM), following the departure of Shirine Khoury-Haq in November 2018. Khoury-Haq had been the driving force behind Lloyd’s recent digital integration efforts, which included the introduction ... Read the full article
WTW announces $1.2bn acquisition of TRANZACT
1st April 2019
Global re/insurance brokerage Willis Towers Watson (WTW) has announced its acquisition of TRANZACT, a direct-to-consumer healthcare organisation, for $1.2 billion. WTW hopes the deal will accelerate its direct-to-consumer strategy and ability to target the 50 million strong Medicare market. TRANZACT will operate as an integral part of WTW’s Benefits Delivery and Administration ... Read the full article
SCOR consolidates Global Life, P&C units into SCOR SE
1st April 2019
French reinsurance firm SCOR has announced that it has completed the merger of SCOR Global Life SE and SCOR Global P&C SE into SCOR SE as part of its plan to optimise its operational and legal structure and its level of regulatory capital. The units were merged on March 31, 2019 ... Read the full article
Kristina Maffit named VP, property reinsurance for Brit Global Specialty Bermuda
1st April 2019
Global specialty re/insurer Brit has appointed Kristina Maffit as Vice President, Property Reinsurance for Brit Global Specialty Bermuda (BGSB), effective 1 April 2019. Maffit joins from alternative investment manager Elementum where she spent six years as a Portfolio Management Associate, specialising in collateralised natural catastrophe reinsurance investments. Prior to that, she assisted ... Read the full article
Marsh & McLennan finalises JLT acquisition
1st April 2019
Marsh & McLennan Companies, Inc. (MMC) has announced the completion of its acquisition of Jardine Lloyd Thompson Group plc (JLT) for $5.6 billion in fully diluted equity value. The deal, first announced in September 2018, is expected to boost MMC’s position in insurance and reinsurance broking, health and retirement. It will ... Read the full article
Strong capitalisation underpins rational pricing approach at April 1: Willis Re
1st April 2019
Willis Re, the reinsurance arm of global insurance and reinsurance broker Willis Towers Watson, has noted that reinsurers adopted a rational pricing approach at the April 1st renewals, underpinned by high levels of market capitalisation from both traditional and alternative sources. The reinsurance broker's latest 1st View report examines the April ... Read the full article
Lloyd’s reforms were “solid first step” for market profitability: analysts
1st April 2019
The Lloyd’s market reforms supported an initial turnaround in underwriting results and represented a “solid first step” in returning the market to profitability, according to analysts at Keefe, Bruyette & Woods (KBW), although more remains to be done. Lloyd’s return improved by 50% year-on-year in 2018, although the market still ... Read the full article
Technology key to Spinnaker’s role as conduit for risk and capital
29th March 2019
Spinnaker Insurance Company, a program and fronting start-up, sees the adoption and use of technology throughout the value chain as critical to its business model as it looks for increased scale. Spinnaker was launched in 2015, and focuses on writing property and casualty exposed programs from U.S. homeowners and specialty business ... Read the full article
Marsh appoints Anthony Gruppo as CEO of Jelf
29th March 2019
Global re/insurance broker Marsh has announced the appointment of Anthony Gruppo as Chief Executive Officer (CEO) of Jelf and leader of its wider UK & Ireland Commercial and Consumer client segment. He will take up his new London-based position in May, succeeding Phil Barton who is leaving with immediate effect to ... Read the full article
Nexus forms Xenia Broking Group to consolidate broking activities
29th March 2019
Nexus Group has revealed the establishment of Xenia Broking Group Limited, a London-based entity launched to consolidate Nexus' broking activities. The consolidated broking activities will remain independent and segregated from the Group's underwriting operations, and Xenia will have Nexus Group Non-Executive Director, Jeremy Adams as Chairman of its Board of Directors. He ... Read the full article
Air India’s insurance costs double following Ethiopia Airlines crash
29th March 2019
India’s national carrier Air India has seen its insurance renewal costs almost double to around $28 million for the year 2018/19 following the recent Ethiopian Airlines crash, according to reports from The Indian Express. The publication said that a host of adverse factors in combination with the crash, which is ... Read the full article
HDI Global Specialty hires leader for new aviation team in Australia
29th March 2019
HDI Global Specialty SE – Australia, the collaborative specialty insurance venture between HDI Global and Hannover Re, has hired James Bowes to lead a new General Aviation team in the Asia Pacific markets. Bowes has 20 years’ experience and joins HDI Global Specialty SE – Australia from QBE, where he served ... Read the full article
Arch reveals Brexit plan changes, expands remit of Arch Insurance EU
29th March 2019
Arch Insurance International and Arch MI have announced some changes to their EU operations as part of their Brexit plan, including that Arch Insurance (EU) dac (formerly Arch Mortgage Insurance dac) has been authorised by the Central Bank of Ireland to expand the classes of business it writes in the ... Read the full article
Physical & economic impacts of climate change are accelerating: WMO study
29th March 2019
The physical signs and socio-economic impacts of climate change are accelerating as record greenhouse gas levels drive global temperatures towards increasingly dangerous levels, according to a new report from the World Meteorological Organization (WMO). The WMO’s study on the state of the global climate in 2018 highlighted record sea level rise, ... Read the full article
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