Reinsurance News
Hyperion promotes Rebecca Scott to Group COO
28th March 2019
London-headquartered Hyperion Insurance Group has promoted Rebecca Scott to the position of Group Chief Operating Officer, effective 1 March. Scott will report to Chief Executive Officer of Hyperion, David Howden, and has also joined the Group Executive Committee. She joined Hyperion in 2014 as Head of Internal Audit, before being appointed Chief ... Read the full article
Risk Frontiers offers Australian hail model on ModEx platform
28th March 2019
Risk management and catastrophe modelling firm Risk Frontiers has announced that its Australian hail model is now available on ModEx, the independent multi-vendor modelling platform for the re/insurance industry. HailAUS 7.0 is a fully stochastic loss model for hail and covers all of Australia, calculating losses for residential, commercial and industrial ... Read the full article
Argo affirms Board appointments following latest Voce criticism
28th March 2019
Specialty re/insurer Argo Group has issued a statement defending the validity of its two most recent Board appointments after Voce Capital Management, a company that owns 5.6% of Argo’s shares, claimed the hires went against company bye-laws and Bermuda law. Argo labelled Voce’s claims “disappointing” and part of a “campaign of ... Read the full article
Lloyd’s performance review to maintain rigour in 2019: Jon Hancock
28th March 2019
The performance review process at Lloyd’s is to maintain the same rigour in 2019 in order to build on the progress achieved last year, although its focus will shift towards encouraging growth and best practice, rather than clamping down on underperformance. This is according to Performance Management Director Jon Hancock, who ... Read the full article
Fannie Mae secures re/insurance for another $11bn of multifamily mortgage risk
28th March 2019
The Federal National Mortgage Association (Fannie Mae) has completed another multi-tranche Credit Insurance Risk Transfer (CIRT) transaction, which provides re/insurance cover for a pool of $11.7 billion of multifamily loans. The new transaction, called MCIRT 2019-01, is the fifth CIRT transaction as part of Fannie Mae’s ongoing effort to increase the ... Read the full article
Monument Re acquires Irish insurer Inora Life from Societe Generale
28th March 2019
Monument Re has announced that it plans to acquire Inora Life DAC, a life insurer domiciled in Ireland, from its owner Societe Generale. Inora Life has ceased all new activity since 2012, but still manages a portfolio of unit-linked insurance products. The transaction, which remains subject to regulatory approval, will have no ... Read the full article
Gilles Moëc to join AXA as Group Chief Economist
28th March 2019
AXA has announced that Gilles Moëc is to join from Bank of America Merrill Lynch as its new Group Chief Economist, effective June 3rd, 2019. Currently the Chief European Economist of Bank of America Merrill Lynch, Moëc's new position will see him report to the Chief Executive Officer (CEO) of AXA Investment ... Read the full article
Africa Re and IFC partner to develop Nigeria’s argicultural insurance sector
28th March 2019
Africa Re has signed an agreement with IFC, a member of the World Bank Group, to assist insurers in Nigeria with the development of innovative agricultural solutions for small holder farmers. Lunched by the Nigerian Commissioner for Insurance, Muhammed Kari on March 26th 2019, the agreement sees Africa Re work with ... Read the full article
Markel International adds Christian Stobbs as Strategy Director for Asia
28th March 2019
Specialist insurer Markel International has appointed Christian Stobbs as Strategy Director For Asia. Stobbs will be based in Singapore and oversee the development of the company’s strategic priorities in the region. He joins from Abbey Tax, a Markel International company based in the UK, where he served as Managing Director. Prior to Abbey ... Read the full article
CCR Re creates first France-domiciled reinsurance sidecar
28th March 2019
CCR Re has announced that it has set up the first reinsurance sidecar vehicle to be domiciled in France, called 157 Re. 157 Re will assume a 25% quota share of CCR Re’s worldwide property cat portfolio to provide the reinsurer with fully collateralised capacity to support its organic growth. CCR Re ... Read the full article
Citizens to protect personal lines surplus with $200m of reinsurance
28th March 2019
Citizens Property Insurance Corporation, Florida’s state-run not-for-profit insurer, is for the first time since 2005 looking to secure around $200 million in traditional reinsurance coverage for its Personal Lines Account (PLA), which is comprised of 301,000 residential policies, most of which are not located along the coast. The company cites mounting ... Read the full article
A.M. Best stays negative on UK non-life insurance
28th March 2019
Global financial services ratings agency, A.M. Best, has maintained its negative outlook on the UK non-life insurance market in light of strong competition, legislative changes, political and economic uncertainty, and increased regulatory scrutiny. A.M. Best expects the profits of UK non-life insurers to remain under pressure in 2019, driven largely by ... Read the full article
Labuan IBFC continues insurance sector growth in 2018
28th March 2019
The Labuan International Business and Financial Centre (Labuan IBFC) posted strong growth in its insurance sector during 2018, with total gross written premiums rising 19.1% to $1.7 billion. This represents a significant jump compared with the Centre’s performance in 2017, when gross written premiums increased by just 2.2%. Labuan IBFC said ... Read the full article
Favourable conditions suggest record-breaking year ahead for longevity risk transfer: Kessler, Prudential
27th March 2019
Pension funds are continuing to take advantage of favourable longevity risk transfer conditions, and it’s expected that 2019 will be another record breaking year for the market, according to Amy Kessler, Head of the Longevity Risk Transfer, Prudential Financial Inc. of the U.S. Pension funds across the UK, U.S. and Canada ... Read the full article
Seeman Holtz acquires Californian broker Kaercher Campbell & Associates
27th March 2019
Seeman Holtz Property & Casualty has continued its expansion into Southern California with the acquisition of Kaercher Campbell & Associates Insurance Brokerage. Headquartered in Culver City, Kaercher Campbell & Associates is an independent agency offering a range of personal and commercial insurance, including auto and life insurance, as well as retirement ... 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.
