Reinsurance News
Pool Re seeking up to £50m NDBI retro cover
12th June 2019
UK government-backed terrorism reinsurer Pool Re is looking to secure a retrocession placement for July 1 of between £40 million and £50 million. This is in response to an increase of risk shouldered by Pool Re following parliamentary approval in February that enabled it to cover non-damage business interruption (NDBI) ... Read the full article
CoreLogic’s US quake model to be made available via Nasdaq’s ModEx
12th June 2019
Nasdaq has announced that CoreLogic is the latest catastrophe risk modeller to make its models available via ModEx, the catastrophic modelling ecosystem Nasdaq acquired in January as part of the Cinnober Technology AB deal. CoreLogic offers more than 180 catastrophe risk models across more than 100 regions, and its U.S. earthquake ... Read the full article
P&C pricing to reach double-digit increases through 2H19: Credit Suisse
12th June 2019
Analysts at Credit Suisse have predicted that property and casualty (P&C) insurance pricing is due to enter hard market territory throughout the second half of 2019, with rate increases reaching into the double-digits. This forecast is more optimistic than the firm’s previous April update, when it forecast that pricing would firm ... Read the full article
Allianz Asia adds Anusha Thavarajah as regional CEO, Life & Health
12th June 2019
The Asia Pacific operations of global insurer Allianz has announced the appointment of Anusha Thavarajah as Chief Executive Officer, Life & Health. Based in Singapore, Thavarajah will oversee the functional development of Allianz’s Life & Health business in Asia – advancing the segment’s strong growth to meet Allianz Asia’s long-term strategic ... Read the full article
Duck Creek Technologies adds reinsurance management service for carriers
12th June 2019
Duck Creek Technologies, a global provider of P&C industry insurance software, has added a new reinsurance management function to its suite of services for primary insurance carriers. The service, called Duck Creek Reinsurance Management, allows carriers to manage reinsurance partners contracts, bills, recoveries and payables. It also supports all reinsurance structures, automates ... Read the full article
Aon adds Guangjie Hopton to Intellectual Property Solutions team in Asia
12th June 2019
Aon has expanded its Intellectual Property Solutions team with the addition of Guangjie Hopton, who will focus on clients in China and the broader Asia region. Hopton joins the broker from Alibaba Group in Hong Kong, where she has spent the previous 14 years, including as Assistant General Counsel for International ... Read the full article
Marlo Edwards named President of Berkley’s Verus Underwriting Managers
12th June 2019
Marlo Edwards has been appointed as President of Verus Underwriting Managers, a subsidiary of W.R. Berkley Corporation. Edwards' appointment is effective immediately and she succeeds the retiring Dale Pilkington. She joins the firm with more than two decades of experience in the property and casualty (P&C) insurance sector, most recently serving ... Read the full article
Cyber insurer Coalition adds Aon’s Brian Specht as Head of Affinity
12th June 2019
Swiss Re and Argo-backed cyber insurer Coalition has announced the addition of Brian Specht as Head of Affinity. Specht - who will be based in New York City and Austin, Texas - joins with 30 years’ experience and has served with companies such as Aon, Ryan Specialty Group, AIG and Chubb. Prior ... Read the full article
Vibe’s Joe Sweeting to lead AXIS Re’s Lloyd’s Casualty Reinsurance
12th June 2019
The reinsurance arm of AXIS Capital Holdings Limited, AXIS Re has announced that Joe Sweeting has joined the firm as Head of Lloyd's Casualty Reinsurance. In his new role, Sweeting will take responsibility for managing all aspects of the reinsurer's casualty operation at the specialist Lloyd's of London insurance and reinsurance marketplace. ... Read the full article
Berkshire Hathaway Specialty expands in Australia with new Adelaide office
12th June 2019
Berkshire Hathaway Specialty Insurance (BHSI), the insurance arm of Warren Buffett’s global insurance and reinsurance company, has expanded its presence in Australia with the launch of a new office in Adelaide. In connection with the launch, BHSI has appointed Monica Holland as Underwriting Manager for South Australia. In this role, Holland will ... Read the full article
European insurers adjust to changing operating landscape: Moody’s
12th June 2019
Macro trends and technological advances continue to alter the operating landscape for European insurance companies, driving the transformation of business models, increased digitalisation and market consolidation, highlights financial services ratings agency, Moody's. Following its annual European insurance summit, held in London towards the end of May, Moody's has underlined a number ... Read the full article
L&G Re develops blockchain reinsurance platform for pension risk transfer
12th June 2019
Legal & General Reinsurance (L&G Re), the global reinsurance hub of the Legal & General Group, has announced the launch of estua-re, the first pension risk transfer (PRT) reinsurance platform to be powered by blockchain technology. The platform is reportedly capable of driving every stage of the PRT reinsurance value chain, ... Read the full article
Insurtech Lemonade launches in Germany, with reinsurance from AXA
11th June 2019
Insurance technology start-up Lemonade has taken its first steps in the European market with the launch of a new policy in Europe, backed by a reinsurance arrangement with AXA Germany. Germany is the first country to offer Lemonade’s Policy 2.0, which is designed to offer consumers contents and liability insurance instantly ... Read the full article
Howden partners with Cytegic on automated cyber risk assessment
11th June 2019
Howden, the retail broking unit of Hyperion Insurance Group, has partnered with Cytegic, a cyber risk quantification solutions provider, on automated cyber risk assessments and financial impact analysis across global markets. “After researching numerous solutions and putting the Cytegic platform through a variety of challenging tests, we were able to confirm ... Read the full article
BMS bolsters cyber offering with BitSight partnership
11th June 2019
Independent specialist re/insurance broker BMS Group has partnered with BitSight, a cyber security ratings firm, to provide cyber risk analysis services to clients across all lines of business as part of its consultancy offering. BitSight’s security ratings platform provides comprehensive security performance information available in the marketplace and marks the first ... Read the full article
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