Reinsurance News
Warmer climate is driving higher re/insurance costs: Swiss Re report
16th May 2019
Rising global temperatures due to climate change have heightened the risk of costly events such as wildfire and drought and significantly impacted the level of re/insurance industry losses in recent years, according to the latest sigma report by Swiss Re. Swiss Re expects that climate change will cause more frequent occurrences ... Read the full article
Victor adds Anthony Stevens as President of international operations
16th May 2019
Victor Insurance Holdings, the Managing General Underwriter previously known as The Schinnerer Group, has announced the appointment of Anthony Stevens as President of Victor International, effective immediately. In his new role, Stevens will oversee the advancement of Victor’s insurance strategy outside of North America. He succeeds Paul Drake, who previously announced his ... Read the full article
Globe Underwriting adds Mackay as Head of NA Property
16th May 2019
UK-based managing general agent (MGA) Globe Underwriting has announced the appointment of Jennifer Mackay as Head of its North American Property Division. Mackay in her new role will focus on the underwriting and management of both residential and commercial property programs whilst leading the underwriting team to drive profitable growth. She brings ... Read the full article
Clyde & Co develops smart contract for parametric insurance
16th May 2019
Global law firm Clyde & Co has launched a new smart contract for parametric insurance, which uses software and data sources to automatically calculate claims obligations and other factors. The contract, which is available through Clyde & Co’s smart contract consultancy, Clyde Code, is the first of its kind, according the ... Read the full article
Majority of U.S. non-life re/insurers’ ESG risk level unlikely to influence rating: Fitch
16th May 2019
Within Fitch's group of 24 Fitch-rated issuers, very few U.S. non-life insurers and reinsurers reach an Environmental, Social and Governance (ESG) risk level that suggests an influence on the rating, reports the ratings agency. Fitch states that 96% of ESG scoring distributions have no impact for its universe of rated-issuers, with ... Read the full article
PartnerRe begins wearable tech project with digital health platform dacadoo
16th May 2019
Bermudian reinsurer PartnerRe has announced the launch of its wearable technology pilot project, which it is running in partnership with dacadoo, a digital health engagement platform. The pilot will enable PartnerRe to gather real-time health and wellness data in order to provide its life and health clients with insights into using ... Read the full article
Gallagher promotes Stuart Fatt to Managing Partner for Construction
16th May 2019
Gallagher, the global re/insurance brokerage and risk management services firm, has announced the promotion of Stuart Fatt to the role of Managing Partner Construction. The appointment is effective immediately and will see Fatt report to Jon Thompson, Chief Executive Officer (CEO) of UK Specialty & Wholesale at Gallagher. Fatt has more than ... Read the full article
Marine sector profitability more vulnerable to attritional losses: IUMI
16th May 2019
The International Union of Marine Insurance (IUMI) has warned that the continued erosion of the premium base is making underwriting profitability more vulnerable to attritional losses, while all marine sectors are exposed to the increased risk of large, complex risks in 2019. Generally, notes the IUMI, major losses remain stable, with ... Read the full article
Everest Insurance adds Head of International Surety from Liberty Mutual
16th May 2019
Everest Insurance, a division of Bermuda-based reinsurer Everest Re, has announced the appointment of Graham Pitt as Head of International Surety, based out of London. Pitt joins Everest from Liberty Mutual Group, where he most recently served as Head of Surety (Europe and Asia Pac). He spent over two decades in Liberty’s ... Read the full article
Munich Re Canada promotes Claus-Ulrich Kroll to President, CEO
16th May 2019
The Boards of Directors of Munich Re Canada and Temple Insurance Company have announced the appointment of Claus-Ulrich Kroll as President and Chief Executive Officer of both organisations. Kroll steps into the role with over 17 years’ re/insurance experience, having joined Munich Re in 2008. He first served in the company’s Corporate ... Read the full article
SCOR makes senior changes, promotes Jenkins to lead P&C reinsurance in Americas
16th May 2019
French reinsurance firm SCOR has announced a number of senior changes, including the promotion of John Jenkins to the position of Chief Executive Officer for P&C Reinsurance Operations in the Americas. Jenkins, who previously served as Chief Underwriting Officer, P&C Treaty for the Americas, will report to Jean-Paul Conoscente, CEO of ... Read the full article
PartnerRe posts Q1 income of $497mn, boosted by P&C results
16th May 2019
Bermudian reinsurer PartnerRe has posted net income of $497 million for the first quarter of 2019, boosted by the strong performance of its property and casualty (P&C) segment, which had a combined ratio of 87.7%. The results represent an improvement on Q1 2018, when PartnerRe posted a net loss of $210 ... Read the full article
AXA unveils rebranding of parametric insurance unit to AXA Climate
16th May 2019
Global re/insurer AXA has rebranded its specialist parametric risk transfer division from AXA Global Parametrics to AXA Climate, and has also announced a number of new additions to its team. Initially launched in 2017, the rebranded AXA Climate unit looks to provide clients with parametric risk transfer solutions for climate and ... Read the full article
Liberty Mutual promotes Orloff to GM of field distribution for GRS unit
16th May 2019
US primary insurer Liberty Mutual has announced the promotion of Marc Orloff to the newly-created position of General Manager, Field Distribution for its Global Risk Solutions (GRS) unit. GRS focuses on core P&C lines for mid-to-large businesses, as well as specialty, excess and reinsurance. The appointment will see Orloff report to Shaun ... Read the full article
BPL Global hires Donnie DiCarlo from Marsh, expanding U.S presence
16th May 2019
Insurance broker BPL Global has announced the appointment of Donnie DiCarlo as Executive Vice President (EVP). Based in New York, DiCarlo will be tasked with expanding BPL Global’s client base in the U.S and the wider Americas region. He joins BPL Global from Marsh, where he spent the previous 10 years as ... Read the full article
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