Reinsurance News
Following Gulf tanker attacks premiums are likely to rise: Jonathan Moss, DWF
13th June 2019
Reports that two oil tankers have been hit by explosions in the Gulf of Oman again brings into question the potential impact political instability and rising tensions in the Gulf region could have on insurance premiums. News today of explosions that hit two oil tankers, the Kokuka Courageous and the Front Altair, ... Read the full article
Willis Re’s Andrew Souter joins Pioneer as Head of Capital
13th June 2019
Andrew Souter has been appointed Head of Capital at Pioneer Underwriters, effective 19th August 2019. In his new role he will report to Pioneer's Chief Executive Officer (CEO) Andrew McMellin, and will be responsible for the capital and reinsurance buying functions within the company, while at the same time being tasked ... Read the full article
Chaucer recruits A&H Treaty Underwriter from TransRe
13th June 2019
Chaucer, the international specialty re/insurance group, has announced the appointment of Sarfraz Pivano as an Accident & Health (A&H) Treaty Underwriter in its Reinsurance Division. Pivano joins Chaucer from Transatlantic Reinsurance Company (TransRe), where he served as a senior A&H treaty underwriter, having begun his career there as an underwriting assistant ... Read the full article
Brexit a “sideshow” to wider political crisis: Ascot’s Richard Dearlove
13th June 2019
The impact of Brexit on the London re/insurance market will be minimal, constituting only “a sideshow” to larger global political crises, according to Richard Dearlove, Non-executive Chairman of Ascot Underwriting. “The London insurance industry is a global industry, not a European industry, so the effect of Brexit will probably be very ... Read the full article
Allianz (AGCS) appoints new heads of Aviation & Marine
13th June 2019
Allianz Global Corporate & Specialty SE (AGCS) has announced the appointments of Tom Fadden as AGCS Global Head of Aviation and Ulrich Kadow as AGCS Global Head of Marine. Fadden will take over his role with immediate effect from Michael Hansen, while Kadow will succeed current Global Head of Marine and ... Read the full article
The risk transfer industry has never been so important: Dan Glaser, Marsh
13th June 2019
The President and Chief Executive Officer (CEO) of Marsh & McLennan (MMC), Dan Glaser, believes that the risk transfer industry has never been so important or relevant. Addressing delegates at the opening of the MMC Rising Professionals Forum 2019 in London, Glaser stressed that there is no better time to be ... Read the full article
Lloyd’s must evolve or become “irrelevant,” warns CEO John Neal
13th June 2019
Lloyd’s of London is facing a “once in a generation opportunity” to lead the marketplace in delivering new solutions and confronting the challenges of a changing risk landscape, according to its Chief Executive Officer (CEO) John Neal. “As a sector, our choice is to continue with business as usual and become ... Read the full article
Helios Underwriting acquires Nameco for £2mn, completes £1.15mn capital raise
13th June 2019
Helios Underwriting, the Lloyd’s of London investment and underwriting vehicle, has agreed to buy the entire issued share capital of Nameco, a limited liability member of Lloyd’s, for just over £2 million. Helios' strategy is to build a fund of Lloyd's underwriting capacity through the acquisition and consolidation of limited liability ... Read the full article
Peak Re develops unique, cancer multi-protection policy for Vietnam
13th June 2019
Hong Kong domiciled global reinsurer, Peak Reinsurance Company Limited (Peak Re) has announced the creation of a unique multiple cancer benefits reinsurance solution for Vietnam. Peak Re states that the development of this solution is part of its broader strategy to support the evolving needs of the emerging middle class and ... Read the full article
Tesla needs to complete small acquisition before insurance product launch
13th June 2019
Speaking during Tesla's annual shareholder meeting held on Tuesday, Chief Executive Officer (CEO) Elon Musk explained that the firm needs to complete a small acquisition before launching its previously announced insurance product. It was revealed in April that the Elon Musk-led automotive and energy company was working on plans to ... Read the full article
MMC highlights importance of tech in fast-changing environment
13th June 2019
Participants across the risk transfer value chain must harness new technologies and adapt to the evolving operating landscape in order to meet client needs and remain relevant. This is according to Marsh & McLennan Companies (MMC) President and Chief Executive Officer (CEO), Dan Glaser and Victoria Carter, Chairman of Global Capital ... Read the full article
Diversification of Chinese Life & P&C insurers is benefiting reinsurers: Moody’s
13th June 2019
Reinsurers in China have experienced strong business growth in recent times as a result of increased risk diversification among both life and property and casualty (P&C) insurers, notes Moody's Investors Service. Analysts at global financial services ratings agency, Moody's have said that life and P&C insurance companies in China have continued to ... Read the full article
SCOR Global Life strengthens in France with three promotions
12th June 2019
SCOR Global Life, a division of global insurer and reinsurer SCOR, has announced a number of promotions in France, strengthening its position in the country. Formerly the Head of Client Solutions for SCOR Global Life, Barthélemy Philippe has been promoted to Director of the French Market. In this role, Philippe will work closely ... Read the full article
Lockton partners with Benefex to utilise HR tech platform OneHub
12th June 2019
Re/insurance broker Lockton has announced a new partnership with Benefex, the company behind HR platform OneHub, that will allow it to make the technology available to its clients globally. OneHub delivers employee benefits schemes via a consumer-led online system, allowing for more streamlined interactions between employees and employers. “The scalability of OneHub ... Read the full article
Re/insurers brace for heavy loss following Munich hail storm
12th June 2019
The insurance and reinsurance industry is anticipating a heavy loss following a severe hail storm in the Munich region of Germany this week, which actuaries estimate could cause a damages worth hundreds of millions of euros. Regions of Bavaria close to the main city areas of Munich were pummelled by torrential ... Read the full article
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