Reinsurance News
Re/insurers must address Asia Pacific’s protection gap or risk irrelevancy: Guy Carpenter
30th October 2018
Michael Schwarz, Head of Public Sector for Asia Pacific at Guy Carpenter, has claimed that the re/insurance industry will “jeopardize its relevance” if it does not make progress in closing the protection gap in the region. “Our industry should be a critical contributor to increasing community resilience against volatility and shocks ... Read the full article
Irma loss creep and Q3 cats push Blue Capital Re to net loss
30th October 2018
Bermuda headquartered Blue Capital Reinsurance Holdings Ltd. fell to a net loss of $6.7 million in the third-quarter of 2018, as price increases achieved through renewals failed to sufficiently offset catastrophe losses. The Bermuda-based holding company today announced its results for the third-quarter and first nine months of 2018, recorded a ... Read the full article
R&Q issues facultative reinsurance certificate to a large U.S. carrier
30th October 2018
Randall & Quilter Investment Holdings Ltd. (R&Q), a Bermuda-based specialist non-life insurance and reinsurance investor, has announced the issuance of a facultative reinsurance certificate to a large U.S. property and casualty (P&C) carrier. According to an announcement, the collateralised reinsurance policy was written from a cell within R&Q Quest Insurance Limited, ... Read the full article
AI insurtech start-up omni:us secures $22.5mn in funding
30th October 2018
omni:us, an artificial intelligence (AI) powered insurtech start-up, has completed its Series A round of funding and secured a total investment of US $22.5 million, led by Berlin-based venture capital firm Target Global, MMC Ventures and Talis Capital. Existing investors Unbound and Anthemis also participated in the funding, which omni:us said ... Read the full article
Industry orgs support bill calling for greater federal use of risk transfer
30th October 2018
The Reinsurance Association of America (RAA) and the Council of Insurance Agents & Brokers (CIAB), as well as other consumer, taxpayer and think-tank organisations, have written a letter of support for a piece of U.S. legislation that if enacted would call on increased use of risk transfer for federal risk. The ... Read the full article
Industry veteran Tim Cramphorn joins Ensurance UK as Non-exec Director
30th October 2018
Ensurance UK Limited, a construction and engineering managing general agent (MGA) and Lloyd's Coverholder, has appointed Tim Cramphorn as Non-Executive Director, effective November 1st, 2018. Cramphorn is a former Managing Director of HSB Horton Engineering Insurance, which is owned by reinsurance giant Munich Re. He is a chartered director with more than ... Read the full article
Everest Re achieves further global growth, as it profits despite Q3 catastrophes
30th October 2018
Reinsurance firm Everest Re has achieved further growth worldwide across both sides of its business in the third-quarter of 2018, as it turned an impressive profit despite the impacts of previously announced catastrophe losses during the period. Everest Re had previously announced third-quarter 2018 catastrophe losses amounting to $240 million ... Read the full article
Asia Pacific region to experience even more destructive cat events, says RMS
29th October 2018
Catastrophe risk modelling and analytics firm RMS has said that the Asia Pacific region can expect to experience even more destructive events at the 1% level of annual probability, which could have a major impact on both governments and re/insurers. The Asia Pacific region has already experienced several disasters over 2018, ... Read the full article
Canopius appoints Alan Winch as Head of Accident & Health
29th October 2018
Global specialty lines re/insurer Canopius has announced the appointment of Alan Winch as Head of Accident and Health. Winch joins Canopius from Tokio Marine Kiln, where he most recently served as department head for Accident and Health. In his new position, he is joined by Henry Brigstocke from October 2018, Tim Prifti ... Read the full article
Securis says direct Lloyd’s market participation fails to meet returns
29th October 2018
London-based insurance and reinsurance linked investment manager, Securis Investment Partners, is exiting the specialist Lloyd's of London marketplace as its platforms no longer deliver returns that are required by its investor mandate. The firm has been active in the Lloyd's insurance and reinsurance market for some years now, as a provider ... Read the full article
Clyde & Co’s Simon Kemp joins BMS Group as Chief Legal Counsel
29th October 2018
Independent specialist insurance and reinsurance broker, BMS Group Limited, has announced that Simon Kemp has been appointed Group Chief Legal Counsel, effective November 1st 2018. He joins from global law firm Clyde & Co, where he is partner, and will be based in London, reporting to BMS Group Chief Executive Officer ... Read the full article
Bermuda’s role in the global reinsurance market more relevant than ever: KBRA
29th October 2018
A report from Kroll Bond Rating Agency (KBRA) highlights the ability of Bermuda over the years to re/invent to address insurance and reinsurance market challenges, underlining its significance to the global re/insurance market. Today, and despite an array of market headwinds, the island of Bermuda remains a seasoned provider of re/insurance ... Read the full article
Asia Capital Re announces underwriting and management appointments
29th October 2018
Asia Capital Reinsurance Group Pte. Ltd. has announced a number of new underwriting and management appointments, which includes the establishment of specific leadership positions for its Treaty, Facultative and Specialty business. On October 22nd, 2018, Soeren Soltysiak joined the firm as Chief Underwriting Officer (CUO) of Treaty, and in December 2018, Ronnie Tong ... Read the full article
Singapore-based MGA, Criterion Underwriting opens for business
29th October 2018
Criterion Underwriting Pte Ltd, a new independent managing general agent (MGA), has opened for business in Singapore. The new MGA was launched at the 15th Singapore International Reinsurance Conference, and will underwrite and manage and range of specialist insurance solutions on behalf of global insurance and reinsurance firms. The solutions that are ... Read the full article
AIG names Talbot’s Peter Bilsby as Global Head of Specialty
29th October 2018
Global insurer American International Group (AIG) has announced the appointment of Peter Bilsby, current Chief Executive Officer (CEO) of the Talbot Group, as Global Head of Specialty. Talbot is a Lloyd’s insurance and reinsurance specialist that was acquired by AIG in July 2018 as part of its purchase of Validus Holdings ... Read the full article
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