Reinsurance News
SCOR-PartnerRe combo could produce top-three reinsurer, say analysts
8th February 2019
A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article
Trade conflicts and protectionism overtake top CEO concerns: PwC
7th February 2019
Economic factors including trade conflicts, policy uncertainty and protectionism have emerged as the top concerns for global business leaders, according to a new survey by PwC. These issues overtook concerns such as terrorism, climate change and increasing tax burdens, which topped the previous annual survey, as CEOs struggle to navigate recent ... Read the full article
Kemper appoints Chief Actuary & Strategic Analytics Officer
7th February 2019
U.S insurer Kemper Corporation has announced the appointment of Kimberly A. Holmes as Senior Vice President (SVP), Chief Actuary and Strategic Analytics Officer, effective immediately. Holmes has more than 25 years’ experience in re/insurance, actuarial functions and advanced analytics, and joins Kemper from AXA XL, where she most recently served as ... Read the full article
IRB Brasil Re preparing for $650mn follow-on offering to IPO, say sources
7th February 2019
Brazilian reinsurance firm IRB Brasil Resseguros S.A. (IRB Brasil Re) is reportedly preparing for a secondary share offering involving at least 9% of its capital, according to sources at Reuters. State-run bank Caixa Economica Federal is expected to sell an 8.9% stake in IRB, worth around 2.4 billion reais (US $648.4 ... Read the full article
RFIB adds Stanoch as Managing Director of Americas
7th February 2019
International re/insurance broker RFIB Group has announced the appointment of Joseph Stanoch as a Managing Director of RFIB Americas, effective immediately. Stanoch, who joins with over 35 years’ experience in the reinsurance industry, will be based in the company’s Minneapolis office and report to Nick Foden-Pattinson, RFIB Group’s Managing Director of ... Read the full article
U.S hit by 14 billion dollar nat cats in 2018: NOAA
7th February 2019
The National Oceanic and Atmospheric Administration (NOAA) has released data showing the U.S experienced 14 natural catastrophes each causing over $1 billion in damages in 2018; both the number of events and their cumulative cost ranked fourth highest since records began in 1980. Hurricane Michael topped the list, inflicting over $25 ... Read the full article
Catastrophes significantly dent Aspen’s underwriting performance in Q4
7th February 2019
Aspen Insurance Holdings Limited has reported a net loss of $147 million for the fourth-quarter of 2018, as a slight increase in investment income was heavily offset by underwriting losses in both its insurance and reinsurance segments following the impacts of catastrophe losses in the period. Net of reinsurance and reinstatement ... Read the full article
Zurich on track for 2019 as P&C underwriting performance improves
7th February 2019
Global insurer Zurich saw its business operating profit (BOP) increase by 20% in 2018, helped by improved underwriting performance in its property & casualty (P&C) business despite the challenging market landscape. At $4.6 billion, Zurich's BOP for the full-year 2018 increased 20% year-on-year, while the firm's net income, after-tax and attributable ... Read the full article
Ed names Laura Skaanild Client Director, Professional & Executive Risk
7th February 2019
Reinsurance broker Ed has appointed Laura Skaanild as Client Director, Professional and Executive Risk, reporting to Paul Richards, Managing Director of the division. She brings 18 years of legal and insurance experience, and will be tasked with managing and developing the broker's client base in the financial and professional services sector ... Read the full article
R&Q looks to fund growth with £107m capital raise
7th February 2019
Randall & Quilter Investment Holdings Ltd. (R&Q), a Bermuda-based specialist non-life insurance and reinsurance investor, has raised approximately £100 million in an effort to support growth and assist in maintaining the AM Best credit and financial strength ratings of the Accredited companies. The capital raise features the placement of over 65 ... Read the full article
Beazley profits fall by 55% as cat losses & investment yields bite
7th February 2019
Specialist re/insurer Beazley saw its profits fall by 55% in 2018 following a second consecutive year of heavy catastrophe losses and low investment income. The company’s profit before tax was $76.4 million in 2018, down from $168 million in the prior year, having been impacted by $110 million of natural catastrophe ... Read the full article
AIG to launch LatAm Facultative Desk following Talbot integration
7th February 2019
American International Group (AIG) is to launch AIG Facultative Desk, Latin America after successfully integrating Talbot’s regional facultative underwriting platforms in Miami and Santiago with its regional underwriting team. This unified offering follows AIG’s acquisition of Validus last year, a deal which saw the company gain some attractive and diversified franchises ... Read the full article
LMA’s Sheila Cameron calls for seamless, digital London re/insurance market
7th February 2019
The Chief Executive Officer (CEO) of the Lloyd's Market Association (LMA), Sheila Cameron, has urged for the establishment of a seamless, digital re/insurance marketplace in London. Addressing an audience at the Insurance Network's TINtech conference, Cameron called for a digital market where processing tasks are linked seamlessly, which in turn would ... Read the full article
AXIS Re Strategic Partners hires Osterrieder from Swiss Re
7th February 2019
AXIS Re, the reinsurance arm of AXIS Capital Holdings Limited, has announced the appointment of Daniel Osterrieder as North America Account Executive for AXIS Re Strategic Partners. Osterrieder arrives having spent close to a decade serving across a variety of client management and treaty reinsurance underwriting roles at Swiss Re. Most recently, ... Read the full article
SCOR expands its P&C reinsurance book by almost 10% at renewals
7th February 2019
SCOR, the France headquartered reinsurance firm and one of the top-four reinsurers globally, grew its property and casualty book by almost 10% during the key January renewal season. SCOR said that at constant exchange rates the P&C reinsurance book was renewed at EUR 3.2 billion, up from EUR 2.9 billion, an ... Read the full article
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