Reinsurance News
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
Brit names John King as CUO of Global Specialty USA business
29th October 2018
Brit Ltd, the global specialty insurer and reinsurer, has announced the appointment of John King as Chief Underwriting Officer (CUO) for Brit Global Specialty USA (BGSU). King will move to Chicago from his current role as Group Executive Underwriter at Brit Global Specialty in London, reporting to Nick Davies, President of ... Read the full article
Re/insurance broker Ed to be acquired by BGC Partners
29th October 2018
Global insurance and reinsurance brokerage, Ed, is to be acquired by a subsidiary of BGC Partners, Inc., a global broker and financial technology firm, subject to numerous conditions, including regulatory approvals. According to an announcement on the deal, under the terms of the agreement, a BGC subsidiary will acquire 100% of ... Read the full article
Singapore launches first commercial cyber risk pool
29th October 2018
Singapore's finance minister has announced the launch of the world's first commercial cyber risk insurance pool, which will be backed by both traditional reinsurance and insurance-linked securities (ILS). The cyber risk insurance pool has been developed and set up in collaboration with the Singapore Reinsurers’ Association and globally renowned cyber specialist ... Read the full article
Lloyd’s Brussels to write FAC and non-proportional XOL treaty reinsurance at 1/1
29th October 2018
The Lloyd's insurance and reinsurance market has announced that its Brussels base will be ready to underwrite facultative reinsurance and non-proportional excess of loss treaty reinsurance using Lloyd’s Brussels paper from 1st January 2019 across all markets in the EEA. At the same time the market said that if the UK ... Read the full article
Munich Re expands Plug and Play insurtech partnership to China
29th October 2018
Munich Re has entered into a strategic partnership as a Founding Anchor Partner of Plug and Play China, the Chinese business of Plug and Play, a global start-up accelerator and corporate innovation platform. Plug and Play, which is headquartered in Silicon Valley, enables corporations to engage with start-ups that may complement their ... Read the full article
Economic momentum will continue to underpin premium growth: Swiss Re
29th October 2018
Current economic momentum is likely to continue to underpin premium growth for re/insurers globally, while ongoing opportunities to close the protection gap will in turn support further economic growth, according to a recent report by the Swiss Re Institute. Swiss Re said that it expects insurance premiums in advanced markets to ... Read the full article
Verisk adds new events records to EPIX energy insurance platform
29th October 2018
Data analytics provider Verisk has enhanced its energy re/insurance platform, Energy & Power Intelligence Xchange (EPIX), with a new module that features records of events involving 10,000 energy assets around the world. The module, called EPIX Experience, will enable re/insurers to see the frequency of events such as regulatory violations, man-made ... Read the full article
WTW research arm renews partnership with Global Earthquake Model Foundation
29th October 2018
Willis Research Network (WRN), the research arm of the Willis Towers Watson, has renewed its partnership with the Global Earthquake Model (GEM) foundation, a company aimed at the establishment of uniform and open standards for calculating and communicating earthquake risk worldwide. Karl Jones, Head of Catastrophe Analytics, Willis Re International, stated ... Read the full article
U.S life insurers to experience long-term care reserves charges: Fitch
29th October 2018
Fitch Ratings believes that life insurers in the U.S are likely to experience material reserve charges related to long-term care (LTC) products through 2019 due to overly aggressive assumptions for statutory reserving. A report by the rating agency noted that statutory reserving across the industry continues to be based on overly ... Read the full article
Australian insurers propose new measures to support drought-affected farmers
29th October 2018
The Insurance Council of Australia (ICA) has lent its support to a series of proposals designed to improve the uptake of farm income and crop insurance for primary producers in Australia. Rob Whelan, Chief Executive Officer of the ICA, said that access to better data, removing unfair taxes, and introducing incentives ... Read the full article
Asia-Pacific will remain our core: Peak Re’s Chris Kershaw
26th October 2018
China is a big part of Peak Reinsurance’s current portfolio and will continue to be so, while the increasing opportunities in India have only just started to be addressed, according to the company’s Managing Director of Global Markets, Chris Kershaw. In a recent interview with Reinsurance News Kershaw laid out his ... Read the full article
Parametric insurance opportunity as German waterways face disruption
26th October 2018
Shipping companies in Germany could look to insurers for a new kind of parametric coverage following an unprecedented drop in the water levels of some rivers, caused by months of scarce rainfall and hot weather. German publication The Local reported that the docks at Cologne’s main port haven’t seen any new ... Read the full article
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