Reinsurance News
Aon catastrophe report highlights protection gap in Asia
20th September 2018
Figures from the latest iteration of Aon’s monthly Global Catastrophe recap report have highlighted the scale of Asia’s protection gap following the severe flood and earthquake events in India and Indonesia respectively. The report states that the Kerala state in India was hit by its worst flooding in over 90 years, ... Read the full article
Price cycles less pronounced, rates to fade out in 2019: S&P Global
20th September 2018
In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article
Marsh appoints Alistair Fraser as CEO for UK Corporate
20th September 2018
Global insurance and reinsurance broker Marsh has appointed Alistair Fraser as Chief Executive Officer (CEO) of its UK Corporate division, replacing Joe Grogan who has been named as Chairman of Marsh Ireland. Fraser, who currently serves as CEO & President Director of Marsh Indonesia, will assume overall responsibility for Marsh’s Corporate ... Read the full article
John Hancock doubles down on wearable-tech with Vitality partnership
20th September 2018
John Hancock, one of the oldest U.S life insurers, is to drop its previous business model and pair all existing policies with the tech-driven Vitality platform. Moving forward, John Hancock Vitality will utilise wearable technology to incentivise healthier choices linked to physical activity, nutrition and mindfulness. "For centuries, the insurance model has ... Read the full article
InsurTech deal count up but investment volume down at Q2: Willis Towers Watson
20th September 2018
The second quarter of 2018 marked a record high for InsurTech deals as a total of 71 funding transactions took place, although the collective investment value of $579 million was down 20% against the prior quarter, according to re/insurance broker Willis Towers Watson. The broker’s Quarterly InsurTech Briefing, produced in collaboration ... Read the full article
R&Q on track to substantially exceed profit expectations in 2018
20th September 2018
Specialist non-life insurance and reinsurance investor, legacy or run-off transaction service provider and underwriting manager, Randall & Quilter Investment Holdings Ltd. (R&Q), has reported that its first-half 2018 pre-tax profits increased by 40% year-on-year, with full-year profits expected to "substantially exceed market expectations". The firm's solid performance in the first-half of the ... Read the full article
Munich Re’s HSB joins LoRa Alliance in push for IoT standardisation
20th September 2018
The Hartford Steam Boiler Inspection and Insurance Company, a subsidiary of reinsurance giant Munich Re, is to become a contributor member of the LoRa Alliance. The LoRa Alliance is a non-profit association dedicated to the standardisation of low power wide area networks (LPWAN); a technology that enables long-range, wireless connectivity between ... Read the full article
Western & Southern to purchase Nestlé’s Gerber Life business for $1.55bn
20th September 2018
Nestlé has revealed that it has entered an agreement to sell its Gerber Life Insurance Company to U.S life insurance and financial services provider Western & Southern Financial Group for US $1.55 billion in cash. Gerber Life is a juvenile and family life insurance provider with statutory capital and surplus of ... Read the full article
SCOR commits to value creation following Covéa offer
19th September 2018
SCOR has reiterated its commitment to continue creating value for its long-term shareholders following an €8.2 billion (US $9.6 billion) acquisition offer from French insurance group Covéa, which was rejected unanimously by SCOR’s Board of Directors. The reinsurer recently came under fire from shareholders such as French investment fund ... Read the full article
SCOR’s Channel Syndicate partners with InsurTech start-up on invoice protection
19th September 2018
SCOR Global P&C’s Channel Syndicate has partnered with InsurTech start-up Hokodo to provide an invoice protection product to small and medium sized businesses. The partnership will see the Channel Syndicate and SCOR Global P&C develop a range of insurance products which will then be underwritten and distributed using Hokodo’s innovative distribution ... Read the full article
Willis Towers Watson develops new multi-peril property loss modelling tool
19th September 2018
Insurance and reinsurance broker Willis Towers Watson has developed a new technology platform to help organisations analyse potential property losses, called Property Quantified. Set to be launched during the RIMS Canada 2018 Conference on September 23, the Property Quantified platform will enable clients analyse losses across a global portfolio and optimise ... Read the full article
Beach appoints Marsh’s Jonathan Tritton to London Wholesale Practice as SVP
19th September 2018
Reinsurance brokerage Beach & Associates has announced that Jonathan Tritton is to join its recently-formed London Wholesale Practice as a Senior Vice President in December. Tritton joins from Marsh, where he led the initiative to secure new products and coverage for Marsh & McLennan Agency, Marsh’s middle market retail network, as ... Read the full article
Pioneer adds Mark Kelsey to Political Violence underwriting team
19th September 2018
Pioneer Underwriters has expanded its Political Violence team with the appointment of Mark Kelsey as underwriter. Kelsey joins Pioneer from Advent Underwriting, where he most recently served as a terrorism and political violence underwriter. He has nine years of re/insurance industry experience, having previously worked within the Terrorism & Political Violence and ... Read the full article
Lloyd’s releases policy documentation for post-Brexit Brussels subsidiary
19th September 2018
Lloyd’s has published a new suite of policy documentation to support the underwriting of risks from the European Economic Area (EEA) by its new post-Brexit subsidiary, Lloyd’s Brussels, which is due to commence business on 1 January 2019. The new documents were prepared by the Lloyd's Market Association’s (LMA) wordings team, ... Read the full article
Willis Re reorganises Specialty broking business
19th September 2018
Willis Re Speciality has appointed Jonathan Marsh as Chairman and Printhan Sothinathan as Chief Strategy Officer as part of a restructure designed to provide better career development opportunities and improved clarity of roles and accountability. Graeme Moore will still lead the Willis Re Speciality business as Chief Executive Officer (CEO), while ... Read the full article
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