Reinsurance News
Munich Re Life US appoints RGA’s Quentin Marsh to CFO role
21st May 2019
The US Life division of reinsurance giant Munich Re has announced the appointment of Quentin Marsh as Chief Financial Officer, US Life and Health. Marsh, who was most recently Vice President in the Global Financial Solutions unit of Reinsurance Group of America, will report to Marc-André Giguère, President and Chief Executive ... Read the full article
Aviva’s James Drew joins Brit as Head of Outwards Reinsurance
21st May 2019
James Drew, previously Head of Reinsurance at Aviva, has been appointed as Head of Outwards Reinsurance at Brit, effective July 1st, 2019. Based in London, Drew will report to Christiern Dart, Brit's Group Chief Underwriting Officer (CUO) and will also work closely with Reinhard Seitz, currently Head of Outwards Reinsurance at ... Read the full article
Insurers could pay more than $750 million in claims from Las Vegas shooting
21st May 2019
MGM Resorts has said that it could payout up to $800 million to settle liabilities from the 2017 mass shooting in Las Vegas. The attack on the crowd at an open-air concert claimed the lives of 58 people and injured more than 800, and plaintiffs are looking for compensation for a ... Read the full article
MS Amlin takes minority stake in reinsurance MGA, Envelop Risk
21st May 2019
MS Amlin has announced a minority strategic investment in global specialist reinsurance MGA, Envelop Risk, further strengthening the relationship between the two firms. Envelop Risk combines re/insurance expertise with artificial intelligence-driven cyber risk modelling. The two companies initially entered into a cyber reinsurance partnership in 2018, in a deal that saw ... Read the full article
Tremor places programmatic swap deal for parametric cat risk
21st May 2019
Tremor Technologies, the programmatic risk transfer platform, has priced and placed the first ever programmatic parametric swap transaction in insurance form. The insurtech start-up has already priced and placed a number of catastrophe reinsurance programs beginning at the end of 2018, but has moved into new territory with this latest deal. Tremor ... Read the full article
Sompo International adds Pützer as Head of Financial Lines Insurance in Germany
20th May 2019
Bermuda-based property and casualty re/insurer Sompo International Holdings (SIH) has announced the appointment of Udo Pützer to the company’s European insurance platform as Head of Financial Lines Insurance, Germany. He will be based in the company’s Düsseldorf office and will introduce a range of management liability, professional indemnity, and financial institutions ... Read the full article
The Institutes & LIMRA add 15 new members to blockchain consortium
20th May 2019
The Institutes RiskStream Collaborative and LIMRA have announced that a total of 15 new re/insurance companies have become members of their enterprise-level blockchain consortium. This includes eight new members in the life and annuity sector and an additional seven in the property and casualty sector, bringing the total number of member ... Read the full article
AXA XL promotes Marc Bertha to lead U.S East Region Multinational Casualty team
20th May 2019
AXA XL has promoted Marc Bertha as team lead for the U.S Eastern Region Multinational Casualty group, based in New York. He will be tasked with leading the region’s underwriting team as they partner with new and existing clients in the management of complex international risks. Bertha joined AXA XL in 2013 ... Read the full article
Cyber insurance market growth slows in 2018, says Fitch
20th May 2019
Growth in the cyber insurance market slowed dramatically in 2018 when compared with the previous year. However, analysts at Fitch Ratings expect a desire for improved risk management and pricing will benefit the sector over the long-term. In total, the U.S. property and casualty (P&C) industry's total direct written cyber premiums ... Read the full article
Munich Re’s HSB Engineering appoints Paula Homan to Director role
20th May 2019
HSB Engineering Insurance (HSB), the specialist industrial engineering and construction insurance arm of reinsurer Munich Re, has announced the appointment of Paula Homan as Director of Engineering Services, effective immediately. Homan will be tasked with leading the activities of HSB’s engineering inspection services division in the UK and Ireland in line ... Read the full article
CNA Hardy bolsters cyber offering with new pre-breach partnership
20th May 2019
Specialist commercial insurer CNA Hardy has announced a partnership with GamaSec, a cyber-security firm, in a move designed to strengthen policyholders’ resilience and preparedness to cyber threats. The addition of GamaSec, which offers a pre-breach tool designed to prevent cyber attacks, joins a suite of partner services already available including penetration ... Read the full article
HDI Global Specialty recruits Martin Jackson as Head of Aviation & Space
20th May 2019
HDI Global Specialty SE, the recently launched collaborative specialty insurance venture between HDI Global and Hannover Re, has appointed Martin Jackson as Head of Aviation and Space. Based in the company’s London office, he will take over the role from Tim Slade, effective May 20. Jackson most recently served as Class Underwriter, ... Read the full article
USA Risk Group completes management buyout from Spencer Capital
20th May 2019
USA Risk Group, the independent captive management firm, has announced that its senior management team has completed a management buyout from Spencer Capital Holdings. The buyout will include operations from all captive jurisdictions USA Risk Group currently operates in. The company also confirmed that the existing management team will remain in place ... Read the full article
Aston Lark acquired by Goldman Sachs
20th May 2019
UK insurance broker Aston Lark has been acquired by the Merchant Banking division of Goldman Sachs. Aston Lark has stated that the deal - expected to close following receipt of approvals from the Financial Conduct Authority and the Central Bank of Ireland, and antitrust approval - will not signal change in ... Read the full article
Capsicum Re adds Tom Mills to Bermuda team
20th May 2019
Specialist reinsurance broker Capsicum Re has announced the appointment of Tom Mills as a broker in its Bermudian operations. Mills previously worked as a Private Client Director at Hampden Agencies, managing and advising Lloyd’s members from 2015 to 2019. Prior to this, he spent several years as an Assistant Underwriter at Amlin. Capsicum ... Read the full article
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