Reinsurance News
Aon addresses silent cyber with $350m reinsurance solution
11th September 2018
Global re/insurance broker Aon has announced the launch of a new reinsurance solution, backed with $350 million capacity, designed to help carriers navigate the consequences of silent cyber. Silent cyber can occur when other types of insurance or reinsurance products fail to explicitly exclude cyber risks, which could result in an ... Read the full article
Hurricane Florence could cause insured losses of $20bn, says RMS
11th September 2018
Insured losses from Hurricane Florence, the Category 4 storm currently bearing down on the U.S east coast, could cause insured losses of between $15 billion and $20 billion, according to catastrophe modeller Risk Management Solutions (RMS). Meanwhile, data analysis from CoreLogic shows that storm surge damage from Florence could threaten 758,657 ... Read the full article
Increasing pressures challenging the MGA model: Guy Carpenter’s Vicky Carter
11th September 2018
As pressures mount, the Managing General Agent (MGA) sector must lead the market for process enhancement and generate clear value rather than remaining another link in the distribution chain if it is to remain prosperous moving forward, according to Vicky Carter, Vice Chairman – Global Strategic Advisory, Guy Carpenter. Carter said ... Read the full article
Bermuda leading a “ReinsurTech revolution,” say industry experts
11th September 2018
Bermuda could spark a “ReinsurTech revolution” by combining its existing InsurTech capabilities with the island’s reinsurance expertise and regulations, according to panellists at an industry roundtable hosted by AdvantageGo, the commercial re/insurance software platform from NIIT Technologies. Experts agreed that Bermuda’s business environment is more accommodating to innovation than any other ... Read the full article
Lancashire appoints two to replace Sylvain Perrier
11th September 2018
Lancashire Holdings Limited has announced the appointment of James Irvine as the Chief Underwriting Officer (CUO) for Lancashire Insurance Company Limited in Bermuda, effective October 1st, 2018. At the same time, the firm has announced that Ben Readdy has been appointed as Group Chief Actuary for Lancashire Holdings Limited, effective January ... Read the full article
MS Amlin enters cyber reinsurance market with Envelop Risk partnership
11th September 2018
Global re/insurer MS Amlin is partnering with the recently-launched cyber insurance analytics firm Envelop Risk on solutions for the reinsurance market. Under the terms of the partnership, Envelop Risk and MS Amlin will underwrite a cyber reinsurance portfolio with MS Amlin AG as capacity provider. Led by Envelop Risk Chief Underwriting ... Read the full article
CCR Re makes series of senior appointments
10th September 2018
French reinsurance firm CCR Re has made a series of new appointments, including the promotions of Jérôme Isenbart to the position of Chief Risk & Actuarial Officer and John Conan to the role of Senior Vice President, Head of Underwriting Treaties Asia. The company said that Isenbart will continue to fulfil ... Read the full article
Martin Blackwell to join JLT Re as a Partner, Capital Solutions
10th September 2018
JLT Re, the reinsurance arm of global broker JLT Group, has named Martin Blackwell as a Partner, Capital Solutions, effective October, 2018. He brings more than 40 years of market experience to the role, and was Head of Client Management at Capita, having most recently served as a senior consultant at ... Read the full article
AXA Liabilities Managers acquires SOVAG run-off portfolio
10th September 2018
Specialist run-off acquirer and manager, AXA Liabilities Managers (LM), have acquired the run-off portfolio of Schwarzmeer Und Ostsee Versicherungs-AG (SOVAG), a Hamburg-based re/insurance company. The book is reported to total €85 million in gross outstanding reserves and consist of Inward Reinsurance Business and Direct Business. “We are very satisfied that we were ... Read the full article
Craig Douglas named EVP of RFIB Americas
10th September 2018
Global Lloyd's insurance and reinsurance broker, RFIB Group Limited, has announced the appointment of Craig Douglas as an Executive Vice President of RFIB Americas, effective immediately. Douglas joins from JLT Specialty Bermuda, and will be based in RFIB's Bermuda office, ... Read the full article
AXIS Re Strategic Partners launches
10th September 2018
The reinsurance arm of AXIS Capital Holdings Limited, AXIS Re, has announced the formal launch of AXIS Re Strategic Partners, alongside the appointment of the Strategic Account Executives for EMEA. The re/insurer announced AXIS Re Strategic Partners earlier this year, alongside a broader expansion of product and market capabilities. Now, the company ... Read the full article
InsurTech innovations are assisting re/insurance processes: Yoder, Guy Carpenter
10th September 2018
Global Head of Innovation and Product Development at reinsurance broker Guy Carpenter, Claude Yoder, has noted the many challenges and opportunities insurers and reinsurers are facing as a result of the rise of InsurTech. As technology continues to influence the global insurance and reinsurance market, Yoder has called on companies to evaluate ... Read the full article
Swiss Re sees long-term opportunities in changing market dynamics
10th September 2018
Swiss Re views improvements in the overall market environment as a chance for the re/insurance industry to embrace new market dynamics, with companies that proactively develop relevant solutions most likely to benefit from long-term opportunities. Although the current environment continues to be influenced by an abundance of capital, Swiss Re noted ... Read the full article
Re/insurers failing to close protection gap: Aon’s Nick Frankland
10th September 2018
The insurance protection gap is not being closed at the pace it should be, according to Nick Frankland, UK CEO of Aon Reinsurance Solutions, largely because of re/insurers' failure to accept additional risk in a market that currently has an excess of capital. “Public-private enterprise is the protection gap that we ... Read the full article
Tremor’s “smart market” platform is a new nexus for risk transfer: Founder & CEO, Sean Bourgeois
10th September 2018
Tremor Technologies, Inc.'s (Tremor) "smart market" platform can become a new nexus for risk transfer through its use of the latest technology that aims to improve both the efficiency and transparency of the wholesale risk and reinsurance industry, according to Sean Bourgeois, Tremor's Founder and Chief Executive Officer (CEO). Tremor ... Read the full article
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