Reinsurance News
GCube launches cyber risk cover for renewables
6th September 2018
Specialist renewable energy insurer GCube has a launched cyber risk policy aimed at protecting renewable energy sources from attacks. The policy follows a rise in cyber hostility towards global power generation and transmission infrastructure. “In the renewables market, the benefits of ‘big data’ and interconnectivity in driving operational efficiency are well-established ... Read the full article
Catalina Holdings appoints Parri Spector to newly-created Director role
6th September 2018
Bermuda-headquartered Catalina Holdings has appointed Parri Spector Director of M&A and Reinsurance Transactions, a newly-created role within the business. The company says Spector will focus on developing Catalina’s business in the U.S via opportunities presented by continued active deal flow. He will be located in Catalina’s New York office and will ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Everest Insurance appoints Don Mango to lead Actuarial Pricing & Modelling
6th September 2018
Everest Insurance, a division of global reinsurer Everest Re Group, has appointed Don Mango as Global Head of Actuarial Pricing and Modelling for insurance. He will be based out of the company’s Liberty Corner, New Jersey office. With over 30 years’ experience in portfolio strategy, capital modelling, hedging and insurtech, Mango ... Read the full article
$125m insured losses expected from tropical storm Gordon: KCC
6th September 2018
High resolution modelling by Karen Clark & Co (KCC) estimates that the insured loss from Tropical Storm Gordon, which made landfall near the Alabama/Mississippi border on September 4 with 70 mph sustained wind speeds, will be close to $125 million. Modelled estimates include losses to residential, commercial, and industrial properties as ... Read the full article
SCOR announces P&C division reshuffle
6th September 2018
In alignment with its Vision in Action strategic plan SCOR Global Life has announced a new organisational structure with three new business areas: Reinsurance, P&C Partners and Specialty Insurance. The company says this move will support its ambitions for the future, as it looks to address the evolving needs of its ... Read the full article
Markel adds Jennifer Chang to Trade Credit and Political Risk team
6th September 2018
Markel Corporation has expanded its Trade Credit and Political Risk operations in New York with the appointment of Jennifer Chang as Underwriter and Senior Risk Analyst. Chang has nine years’ experience in the trade credit and insurance industry and has broad expertise in both commercial and risk underwriting, having most recently ... Read the full article
Praedicat adds former Zurich CUO & ex Director of Validus to its Board
6th September 2018
Praedicat, an InsurTech analytics company for property and casualty insurers and global industrial businesses, has appointed the retired Chief Underwriting Officer of Zurich North America, Mary Merkel, and former Director of Strategy for Validus Holdings, John Hendrickson, to its Board. “With Mary and John’s deep knowledge of insurance underwriting and strategy, ... Read the full article
Aon addresses global protection gap with launch of PPE specialty practice
5th September 2018
Aon’s Reinsurance Solutions business has announced the launch of its Public Private Enterprise (PPE) specialty practice, a move intended to address the global reinsurance protection gap by providing advice and solutions to entities, including governments. The PPE practice will be initially based in London with a focus on terrorism and natural ... Read the full article
Enstar’s Maiden Re acquisition to include reinsurance arrangement
5th September 2018
As part of its $307.5 million acquisition of Maiden Re North America, which was announced last week, Enstar Group Limited will enter into a reinsurance agreement with Maiden Re via Enstar’s subsidiary, Cavello Bay Reinsurance Limited. The transaction will see Cavello and Maiden Re enter into a novation agreement and ... Read the full article
Swiss Re Corporate Solutions appoints Codding as Global Head of Cyber & Tech
5th September 2018
Swiss Re Corporate Solutions, the commercial insurance arm of the global reinsurance firm, has appointed Sandy Codding as Global Head Cyber & Technology, effective immediately. Codding brings over 30 years’ experience to the company and in his new role will be responsible for overseeing cyber and technology underwriting guidelines, rating methodology, ... Read the full article
Life reinsurance underappreciated by market: J.P. Morgan
5th September 2018
Analysts at J.P. Morgan believe that the life reinsurance business is underappreciated by the market and, due partly to restriction of competition by high entry barriers, consider its long-term growth outlook to be strong. The majority of premium and profit in life reinsurance is generated by in-force portfolios, resulting in a ... Read the full article
Robus Group appoints Managing Director for Gibraltar
5th September 2018
Robus Group, an independent insurance management, fiduciary and financial advisory group has appointed Andy Matthews to lead its Gibraltar office as Managing Director (MD). Matthews was previously MD of a Gibraltar-based insurer and, prior to that, managed the business development for a global risk consulting company. “I’ve known of Robus since the ... Read the full article
New professional body launched by the LMA’s Joint Rig Committee
5th September 2018
The London Market Association’s Joint Rig Committee (JRC) is to launch The Society of Offshore Marine Warranty Surveyors (SOMWS), a non-profit professional body with a variety of objectives across the field, on September 18. SOMWS is to initially focus on upstream construction projects but will expand to include mobile offshore drilling ... Read the full article
PCS develops county level U.S property catastrophe loss estimates
5th September 2018
Property Claims Services (PCS), a Verisk Analytics business, has developed a new level of granularity for U.S property catastrophe insured loss data, offering county level industry loss estimates and claim counts for events with insured losses of at least US $1 billion. PCS said it has worked closely with insurers in ... Read the full article
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