Reinsurance News
Marsh adds Tom Colraine to Board as Non-Exec Director
24th September 2018
Global insurance and reinsurance broker Marsh has appointed Tom Colraine as a Non-Executive independent member of its Board of Directors. Colraine has held many senior positions in the re/insurance sector throughout his career, including as Chief Operating Officer (COO) and Chief Financial Officer (CFO) of AIG Europe from 2009-2014. He also served ... Read the full article
Tamesis appoints Hiscox Re’s Ben Love to lead Underwriting
24th September 2018
Tamesis DUAL, part of the underwriting arm of the Hyperion Insurance Group, has appointed Ben Love Director of Underwriting; a London-based role which will see him report to Tony Lovett, Managing Director and Founder of the company. “We are very excited that Ben is joining the Tamesis team,” said Lovett . “He ... Read the full article
AXA XL appoints UK CEO for Catlin Underwriting and Insurance
24th September 2018
AXA XL has appointed Paul Greensmith as Chief Executive Officer (CEO) of its legal entities, Catlin Underwriting Agencies Ltd and XL Catlin Insurance Company UK Limited. Greensmith will take over from Paul Jardine, who is due to leave XL Catlin later this year. He will be tasked with developing the strategy ... Read the full article
R&Q completes reinsurance novation for Barbados captive
24th September 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has completed the novation of the commercial general liabilities of a Barbados based captive which reinsured the liabilities of its Canadian corporate parent. R&Q explained that the liabilities have been novated into its Bermuda based segregated account company. “We are delighted to have completed this ... Read the full article
LMG’s delegated authority platform to launch this week, market uptake high
24th September 2018
With the London Market Group’s (LMG) Delegated Authority: Submission, Access and Transformation Solution (DA SATS) set to go live this week, market uptake from brokers and underwriters has reportedly been strong. DA SATS is powered by Tide from Charles Taylor Insurtech and provides a central service to standardise the collection, validation, ... Read the full article
Swiss Re Corporate Solutions hires Berger from Allianz for CEO as Galvagni steps down
24th September 2018
A new CEO has been hired for reinsurance firm Swiss Re's Corporate Solutions division, as current Chief Executive Agostino Galvagni has decided to step down from the position at the end of 2018. Galvagni is set to leave Swiss Re and the company is replacing him with Andreas Berger, who it ... Read the full article
Unprecedented or unexpected event(s) needed to turn reinsurance pricing: Survey
21st September 2018
Just over 40% of respondents to the Reinsurance News and Artemis Reinsurance Market Survey believe that at least a $200 billion+ event or series of events is needed to meaningfully turn market pricing. Reinsurance News and insurance-linked securities (ILS) focused sister publication, Artemis, recently launched a survey designed to take ... Read the full article
FERMA opposes further regulations for captive insurers
21st September 2018
The Federation of European Risk Management Associations (FERMA) has opposed the introduction of additional regulations for European captive insurance companies, urging the OECD to rely on existing international regulations when it publishes new guidelines on transfer pricing and value creation. Responding to the OECD public discussion draft document, ‘BEPS Actions 8-10 ... Read the full article
AIG to acquire Glatfelter Insurance Group
21st September 2018
Global insurer American International Group is to acquire the full-service broker and insurance company Glatfelter Insurance Group. While terms were not disclosed, the transaction is expected to close in the fourth quarter of 2018. AIG hopes acquisition of a firm with high-quality program underwriting capabilities deal will accelerate the strategic positioning ... Read the full article
Germany backs new WFP and ARC climate insurance initiative
21st September 2018
The United Nations World Food Programme (WFP) has signed its first climate risk insurance policy with the Africa Union’s African Risk Capacity (ARC), with €10 million of funding provided by the German Government. The policy, called ARC Replica, is a unique climate risk financing mechanism that is supported by WFP and ... Read the full article
HFW appoints Carol-Ann Burton as Partner
21st September 2018
HFW, an international, sector-based law firm, has bolstered its re/insurance practice with the appointment of Carol-Ann Burton, who joins the firm as a partner in London. Burton previously worked as a consultant to the firm in London and the Middle East. She has broad experience in financial services regulation, transactions and ... Read the full article
Lloyd’s managing agents enjoy InsurTech advantages, analysts find
21st September 2018
Lloyd’s managing agents hold significant advantages in the technology ‘arms race’ due to their ability to quickly deploy supplier InsurTechs and take distribution platforms global, according to a new study undertaken for the Lloyd’s Market Association (LMA) by management consultancy Oxbow Partners. Analysts noted that Lloyd’s managing agents are generally more ... Read the full article
Generali launches disruptive asset manager, led by Peter Kraus
21st September 2018
Generali has announced the launch of Aperture Investors, a new asset management company that relies on a disruptive revenue model, to be led by Peter Kraus, former Chairman and Chief Executive Officer (CEO) of AllianceBernstein and Global Co-Head of Goldman Sachs’ Investment Management Division. The Italian insurance giant will contribute up ... Read the full article
Fidelis backs new Kersey MGA, increasing energy market capacity
21st September 2018
Fidelis Insurance, the privately owned Bermuda-based holding company, has taken an equity stake in Kersey Specialty Limited, a new Managing General Agent (MGA) with a focus on Upstream Energy subscription market insurance. The company will also provide underwriting capacity to Kersey, which will be managed through Fidelis’s subsidiary MGA platform, Pine ... Read the full article
R&Q’s Accredited acquires MPS Risk Solutions for £16mn
21st September 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced that its wholly owned subsidiary, Accredited Insurance (Europe) Limited, has agreed to acquire the entire issued share capital of MPS Risk Solutions Limited (MPSRS) from its owners, The Medical Protection Society Limited (MPS), for £16 million. MPSRS was formed in January 2004 ... Read the full article
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