Reinsurance News
Japanese insurers to pursue M&A deals in China as regulations change
5th February 2019
Japanese insurance companies are preparing to follow up on recent regulatory changes in China’s financial sector by pursuing a spree of new mergers and acquisitions (M&A) deals in the country, according to sources at Reuters. With $53 billion spent on M&A deals since 2014, Japanese insurers are currently one of the ... Read the full article
ProAssurance “deeply disappointed” with performance of Lloyd’s investment
5th February 2019
Specialty insurer ProAssurance Corporation is to review its strategic options regarding its Lloyd's of London investment, following a disappointing performance by its Lloyd's Syndicates segment in the fourth-quarter of 2018. During its third-quarter 2018 conference call ProAssurance forecast losses of roughly $3.2 million within its Lloyd's Syndicates segment. However, after receiving ... Read the full article
Cape Analytics’ property intelligence solution expands to include commercial risks
5th February 2019
Provider of insurance and reinsurance data analytics, Cape Analytics, has announced the expansion of its property intelligence solution to commercial habitational properties, to include multi-family homes, condos, and home owner associations (HOAs). The expansion builds on its database of more than 70 million single-family homes in the U.S., and is the ... Read the full article
CCR appoints Hind Mechbal as Chief Information Officer
5th February 2019
CCR Group, the state-backed French re/insurer, has announced the appointment of Hind Mechbal as Chief Information Officer. Mechbal joins CCR from Allianz Group, where she has served as Head of Information Systems and Organization since 2013, based in Casablanca Morocco. In her new role, she will be tasked with managing the ongoing ... Read the full article
Hiscox leads $58mn funding for insurtech platform CoverHound
5th February 2019
Global specialist insurer Hiscox has led a $58 million Series D funding round for CoverHound, a property and casualty (P&C) insurance platform for digital distribution. Additional investors included insurance providers Chubb, Aflac Ventures and MS&AD, who CoverHound entered a strategic alliance with earlier this month. CoverHound worked with Allen & Company ... Read the full article
Further rate strengthening expected in U.S. commercial auto sector: JLT Re
5th February 2019
JLT Re (North America), a division of the reinsurance arm of global brokerage JLT Group, is anticipating further rate strengthening in the U.S. commercial auto sector in 2019 and through 2020. The broker recently published its Commercial Auto Market Briefing, a new report which analyses both accident frequency and severity, corrective ... Read the full article
The Hartford reveals new operating model for Navigators businesses
5th February 2019
Property and casualty insurer The Hartford has announced a new operating model and organisational structure for its specialty commercial and middle market businesses following the completion of its pending acquisition of The Navigators Group. The new model will integrate Navigators’ operations, as well as The Hartford’s current Specialty Commercial and Middle ... Read the full article
PPL adoption exceeds targets at Q4 2018, reports Board
5th February 2019
The Board of Placing Platform Limited (PPL) has released new data for the fourth quarter of 2018 showing that adoption levels among both Lloyd’s syndicates and International Underwriting Association (IUW) companies exceeded targets. Syndicates accepted an average of 39% of in scope risks through electronic placement in Q4, while IUW companies ... Read the full article
Aon partners with insurtech firm to streamline claims process
5th February 2019
Global insurance and reinsurance broker Aon has entered into a new strategic alliance with insurtech firm Claim Central to digitize and streamline its claim management capabilities. The collaboration aims to enhance the customer experience using technology and services developed specifically for property and casualty (P&C) insurance companies. Claim Central will also open ... Read the full article
Flood claims to spike as Townsville residents return home: ICA
5th February 2019
The Insurance Council of Australia (ICA) is anticipating a significant increase in insurance claims as policyholders start returning to their homes after a catastrophe was declared in the city of Townsville, Queensland due to torrential rainfall and flooding. Townsville was hit with more than a metre of rain in just a ... Read the full article
Beazley combines Cyber & Executive Risk divisions
5th February 2019
Beazley has announced the launch of a new division that is to be led by Mike Donovan, called Cyber & Executive Risk, launched to focus on some of the most challenging risks that businesses face around the world. The new unit combines the specialist insurer's cyber insurance capabilities and its experience ... Read the full article
SCOR’s Kessler defends legal actions against Covéa
5th February 2019
Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has defended the company’s decision to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. The SCOR boss addressed criticism from investors such as Catherine Berjal, CEO of ... Read the full article
Munich Re America reshuffles leadership, structure of reinsurance division
5th February 2019
The U.S branch of global reinsurer Munich Re has created several senior positions and realigned the executive leadership of the organisation's reinsurance division. The division’s Chief Executive Officer and President, Steve Levy, explained that the new positions and realigned U.S reinsurance division executive leadership team reflect a flatter underwriting structure and ... Read the full article
Swiss Re Corporate Solutions launches cyber offering for SMEs
5th February 2019
Swiss Re Corporate Solutions, a division of global reinsurer Swiss Re, has launched a new risk management solution for small and medium-sized enterprises (SMEs) to help them manage their cyber and digital risks. CyberSolution 360° was developed in collaboration with OZON, a French cyber security insurtech company, and combines insurance with ... Read the full article
Convex Group re/insurance sees Stephen Catlin & ex-colleagues preparing new launch
5th February 2019
Stephen Catlin, the former founder of the Catlin Group insurance and reinsurance business, is set to return to the market with a new start-up named Convex Group and utilising a reinsurer named Convex Re Limited. Catlin, who founded Catlin Group and then sold it to XL becoming the Executive Deputy Chairman of ... Read the full article
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