Reinsurance News
Pacific Life Re explores machine learning in medical data processing
10th October 2018
Pacific Life Re and the online comparison service UnderwriteMe are collaborating on a system which combines text mining and machine learning techniques to process unstructured medical textual data, such as doctors’ reports on life and health insurance applicants and claimants. With the emergence of electronic medical reports, the ability to improve ... Read the full article
Generali launches tech startup, introduces cyber platform
10th October 2018
Italian insurance giant Generali has announced the launch of CyberSecurTech, its own technology startup aimed at the provision of innovative cyber risk assessments for its customers. Furthermore, the wholly owned ‘startup’ will support Generali’s newly-launched technology platform Majorana, designed and developed entirely by the group’s team of IT security experts. The introduction ... Read the full article
Severe H1 weather events cause drop in profits for UK home insurers: EY
10th October 2018
The profitability of UK home insurance companies is expected to fall in 2018 due to the financial impact of severe weather events such as February’s cold wave, Storm Eleanor, and May’s flash flooding, according to analysts at EY. In 2017, home insurers posted one of their best Net Combined Ratios (NCR) ... Read the full article
Hurricane Kirk rainfall triggers $5.8m Barbados payout from CCRIF
10th October 2018
CCRIF SPC, a segregated portfolio company owned operated and registered in the Caribbean, has announced that Barbados is to receive a $5.8 million payout due to heavy rainfall that occurred during the passage of Tropical Storm Kirk. The payout is CCRIF’s first of the 2018/19 policy year and brings the total ... Read the full article
Sompo International forms new Casualty Facultative Reinsurance team
10th October 2018
Bermudian property and casualty re/insurer Sompo International has announced the launch of a new Casualty Facultative Reinsurance operation, to be led by Dave Adams, who has been appointed as Executive Vice President, Specialty/Facultative Reinsurance Team Leader. Adams will join Sompo International Reinsurance this week alongside an underwriting team of seven specialists ... Read the full article
Pamela Thomson-Hall named Head of CEEMEA region, Willis Towers Watson
10th October 2018
Global insurance and reinsurance broker, Willis Towers Watson, has announced the appointment of Pamela Thomson-Hall as the Head of the Central and Eastern Europe, Middle East, and Africa (CEEMEA) region. At the same time, Thomson-Hall has also been appointed Head of Corporate Risk and Broking (CRB) for the CEEMEA region, and starts both ... Read the full article
Making better decisions with better data key to the future of insurance: Brian Duperreault
10th October 2018
Brian Duperreault, the President and Chief Executive Officer (CEO) of American International Group (AIG), believes that making better decisions with better data is key to the future of the insurance industry. Speaking with Toni Waterman on the inaugural business show launched by Bermuda Broadcasting, called The Breakdown, Duperreault discussed blockchain and ... Read the full article
Nat cat modelling more mainstream and better understood than ever: CoreLogic
9th October 2018
Natural catastrophe modelling has become a more mainstream practice built into the workflow of major insurance companies and moved past being viewed as merely “scientists in a backroom”, according to William Forde, Senior Director of Insurance and Spatial Solutions at CoreLogic. Speaking alongside the firm’s Principal & Chief European Scientist, Ivan ... Read the full article
Simplitium launches fully open data format for cat modelling
9th October 2018
Simplitium, a provider of risk analysis services, has introduced a new exposure data format for catastrophe modelling called Open Exposure Data (OED). Developed in collaboration with the insurance industry, OED delivers a robust and documented exposure framework for Oasis-based platforms and models. The format is fully independent and model-vendor agnostic, making it ... Read the full article
Chaucer appoints Treaty Underwriter for Asia and MENA regions
9th October 2018
International specialty insurer Chaucer has appointed Rajeev Menon as Regional Treaty Underwriter for Asia, MENA and the Indian-Sub-Continent. Menon joins Chaucer from Qatar Re, where he most recently served as Senior Underwriting Manager, developing the company’s treaty portfolio for the Asia and MENA regions. He has more than 18 years of industry ... Read the full article
Sompo expands U.S environmental insurance capabilities
9th October 2018
Bermuda-based specialty re/insurer Sompo International Holdings has established a new business unit, extending its environmental liability insurance capabilities to a wider range of industries in the U.S. The company states it will offer tailored mono-line environmental liability coverage programs, on a primary or excess basis, for insureds interested in expanding their ... Read the full article
Hurricane Michael to have limited impact on property reinsurance pricing: Analysts
9th October 2018
With hurricane Michael forecast to make landfall as a major storm, analysts at Keefe, Bruyette & Woods (KBW) say that while it's too early to provide a credible estimate, the firm expects the impact on the insurance and reinsurance industry to be manageable. The latest forecast from the National Hurricane ... Read the full article
AGCS restructures Alternative Risk Transfer business
9th October 2018
Allianz Global Corporate & Specialty (AGCS), the specialist corporate re/insurer of Allianz Group, has announced that it plans to restructure its existing Alternative Risk Transfer (ART) line of business into two specialist teams. From November 1, the Insurance-Linked Markets team will become a standalone line of business known as Capital Solutions, ... Read the full article
Michael Scala appointed CUO of Asia Pacific, ArgoGlobal
9th October 2018
ArgoGlobal, a Lloyd’s insurer and member of Argo Group International Holdings, has announced the appointment of Michael Scala as Chief Underwriter Officer (CUO), Asia Pacific. Scala will report to Veronica Grigg, Chief Executive Officer, ArgoGlobal Asia. “Mike is a talented leader with experience across the Asia Pacific region,” said Grigg. “At ArgoGlobal, we ... Read the full article
Hurricane Michael’s current forecast closest to 1975’s Eloise: RMS
9th October 2018
As hurricane Michael tracks towards the Florida Panhandle area of the Gulf Coast as a major storm, analysis by catastrophe risk modeller RMS reveals that in almost 70 years, just two hurricanes have made landfall within the current 'cone of uncertainty' with category 2+ strength. RMS notes that over the last ... 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.
