Reinsurance News
Willis Towers Watson appoints Peter Foster to lead global cyber team
29th July 2019
Global insurance and reinsurance broker Willis Towers Watson (WTW) has announced that Peter Foster has been appointed Chairman of Global FINEX Cyber and Cyber Risk Solutions. He has been with the broker for more than 14 years and WTW says that he has been instrumental in the development of its global ... Read the full article
Kuvare US Holdings set to acquire Lincoln Benefit Life Company
29th July 2019
Kuvare US Holdings, the life insurance and annuity company, has announced that its affiliate, Guaranty Income Life Insurance Company, has entered into an agreement to acquire Lincoln Benefit Life Company (LBL) and its affiliates, subsidiaries of RL LP. The transaction, which is set to close by year-end, will make LBL the ... Read the full article
“Radical” shift in market environment to persist into 2020, says SCOR’s Kessler
29th July 2019
The Chairman and Chief Executive Officer (CEO) of French reinsurer SCOR, Denis Kessler, expects market firming on both the primary and reinsurance side, particularly in the U.S., to continue into 2020. The global insurer and reinsurer recently announced strong and profitable growth for the opening six-months of 2019, supported by ... Read the full article
Pacific Life Re & FWD Singapore partner on automated underwriting tech
29th July 2019
Pacific Life Re has announced a new partnership with FWD Singapore, which will see FWD adopt automated underwriting technology powered by Pacific Life Re’s insurtech subsidiary, UnderwriteMe. The digital solution, which is built on the Underwriting Rules Engine (URE), is expected to enhance FWD's real-time risk assessment on policy applications and ... Read the full article
Lloyd’s will “wither on the vine” without modernisation: Hiscox Chairman
29th July 2019
The Lloyd's of London insurance and reinsurance marketplace will "wither on the vine" unless it is successful in its mission to modernise and become more efficient, Hiscox Chairman Robert Childs said today. With as much as 30 to 40 percent of risk transfer transaction costs going to cover expense related costs, ... Read the full article
Chubb appoints Janene Blizzard to A&H role for UK & Ireland, Eurasia & Africa
29th July 2019
Global insurer and reinsurer Chubb has announced the appointment of Janene Blizzard as Vice President Accident & Health (A&H) for the UK & Ireland and Eurasia & Africa region. Blizzard previously served as Head of A&H Corporate and Global Accounts UK and Ireland at Chubb. In her new role, she will have ... Read the full article
UK should seek reinsurance equivalence with EU after Brexit, says LMG
29th July 2019
The London Market Group (LMG) has urged the UK Government to seek reinsurance equivalence under Solvency II regulations to guarantee London market firms continued access to the EU market after Brexit. When negotiating its future trading relationship with the EU, the LMG argued that the UK should prioritise the access of ... Read the full article
ArgoGlobal adds active underwriter for Syndicate 1200
29th July 2019
Lloyd's of London insurer and member of Argo Group, ArgoGlobal has appointed John Moffatt as an active underwriter for Syndicate 1200, reporting to Matt Harris, group head of International operations. Moffatt's appointment remains subject to regulatory approval, and sees him move from his previous role with ArgoGlobal as the head of ... Read the full article
RGA adds Hamilton CEO Pina Albo to board
29th July 2019
Global life and health reinsurer Reinsurance Group of America is set to add Pina Albo to its board of directors, increasing the size of RGA’s board to 13 members. Chief Executive Officer of Hamilton Insurance Group, Albo currently sits on the board of directors for the IFG Companies, Blue Marble Microinsurance, ... Read the full article
AXA XL appoints trio of senior execs to London Reinsurance team
29th July 2019
AXA XL has announced three senior appointments to its London Reinsurance team, who will serve as the new heads of US Property London, US Casualty Treaty, and Specialty. From September 1, Megan Kempe will become Head of US Property London, having been promoted from her previous role as Vice President. As Vice ... Read the full article
Investments help Hiscox to profit, London Market, Hiscox Re & ILS challenged
29th July 2019
Global insurer and reinsurer Hiscox has reported that its H1 2019 profit before tax increased slightly to $168 million, despite the firm's group combined ratio weakening to 98.8% as loss deterioration from prior year events hit its London Market and Hiscox Re & ILS segments. At $168 million, Hiscox's profit increased ... Read the full article
ABI calls on new Government to support industry and secure an orderly Brexit
29th July 2019
Following the appointment of Boris Johnson as the new Prime Minister of the UK and subsequent Cabinet reshuffle, the Association of British Insurers (ABI) has underlined the importance of the new Government supporting the UK's insurance industry and implementing an orderly Brexit. Huw Evans, Director General of the ABI stressed that ... Read the full article
Strong P&C result drives improved combined ratio for PartnerRe in Q2
29th July 2019
Bermudian reinsurer PartnerRe recorded an improved non-life combined ratio of 92.8% for the second-quarter of 2019 as a strong performance in its property and casualty (P&C) segment more than offset a decline in specialty. Overall, PartnerRe's net income increased by $160 million to $285 million in the second-quarter of 2019 when ... Read the full article
Marsh appoints Ian Drillot as Head of Guernsey Captive Operations
29th July 2019
Global re/insurance broker Marsh has announced the appointment of Ian Drillot as Head of Office, Marsh Captive Solutions, Guernsey. Drillot was previously Head of JLT’s Guernsey captive office, before which he was an accountant with Deloitte. As Head of Office, Drillot will oversee the continued development and expansion of Marsh’s Captive Solutions’ ... Read the full article
Remittance insurance a $1bn opportunity in emerging markets: Swiss Re
26th July 2019
Insurance linked to remittances in emerging economies could represent a US $1 billion opportunity over the next 10 years, according to a new report from Swiss Re Institute. Last year, the World Bank estimated that remittance payments by migrants to people in their home countries totalled $530 billion, constituting more than ... Read the full article
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