Reinsurance News
Tremor adds team of market design experts
14th May 2019
As Tremor Technologies continues to advance its programmatic risk marketplace, the firm has hired a team of market designers that have previously advised governments, industry groups and leading companies. InsurTech startup Tremor operates an open, technology-driven, programmatic market for the placement of reinsurance risk, and has completed a number of auctions ... Read the full article
P&C segment drives higher profits for Allianz in Q1
14th May 2019
Global insurer Allianz has announced that the strong performance of its property and casualty (P&C) business in the first-quarter of 2019 significantly contributed to a 7.5% increase in overall operating profit, to €3 billion. The P&C segment produced robust results in the opening three months of the year for Allianz, recording ... Read the full article
Flood Re opens online facility for MGAs to cede risk directly
14th May 2019
Flood Re, the UK’s government-backed reinsurance scheme, has opened a new online facility for managing general agents (MGAs) that will allow them to cede policies directly to Flood Re on behalf of their insurer. Previously, MGAs had to collate and send ceding data through an insurer in order to apply for ... Read the full article
A.M. Best warns P&C insurers of rating downgrades ahead of TRIPRA expiration
14th May 2019
Rating agency A.M. Best has warned U.S property and casualty (P&C) insurers with exposure to terrorism risk that they could face potential rating downgrades if the Terrorism Risk Insurance Program Reathorization Act (TRIPRA) of 2015 is left to expire in 2020. The Act provides a federal backstop to insurers to help ... Read the full article
WTW enhances security, AI capabilities of Radar pricing tool
14th May 2019
Global insurance and reinsurance broker Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. Radar 4.4 implements new fine-grained security controls that simplify the application of the pricing software, ... Read the full article
Bredahl joining TigerRisk Partners as President & COO
14th May 2019
Rob Bredahl, who resigned from reinsurer Third Point Re only a few days ago, has already resurfaced as the new President and Chief Operating Officer of reinsurance brokerage, risk and capital strategic advisory TigerRisk Partners. Bredahl will join TigerRisk as from the middle of June and in addition to the ... Read the full article
Advisory firm ISS backs Argo in shareholder row, Voce responds
13th May 2019
Specialty re/insurer Argo has received a public backing of its Director nominees from the Institutional Shareholder Services (ISS), an independent shareholder advisory firm, a decision that has been described by Voce Capital Management as “baffling”. A back-and-forth between the two companies has been ongoing since February of this year, when Voce ... Read the full article
Markel names Head of North American Property Reinsurance in London
13th May 2019
Specialist insurer Markel International has announced the appointment of Nick Lazarus as Managing Director for North American Property Reinsurance, based in London. Lazarus joins Markel from Hiscox, where he worked as a Senior Underwriter and was recently involved in the fronting of Hiscox Re ILS funds and the marketing of its ... Read the full article
Re/insurers set to pay $1 billion+ for April nat cats: Aon
13th May 2019
The latest global catastrophe recap report from insurance and reinsurance broker, Aon, reveals that insurers and reinsurers are set to pay out more than $1 billion in losses from natural disaster events that occurred in the month of April 2019. Aon's April, global catastrophe recap report highlights an extremely active month ... Read the full article
SCOR CEO calls for cyber ‘Richter scale’: reports
13th May 2019
The re/insurance industry must act together with the relevant authorities and design a common, global scale with which to accurately assess cyber loss events, according to Denis Kessler, the Chief Executive of French reinsurance giant SCOR. “It would be very helpful to have measurement and modeling tools,” Kessler added, suggesting something ... Read the full article
Most important wave of consolidation is around the corner: Twelve Capital’s Ramseier
13th May 2019
The next, and arguably the most important wave of insurance and reinsurance industry consolidation is around the corner, according to Urs Ramseier, Twelve Capital, Founding Partner, Chief Executive Officer (CEO) & Chief Investment Officer (CIO). Twelve Capital is a Zurich headquartered insurance and reinsurance linked specialist investment fund, with more than ... Read the full article
U.S P&C insurers’ financial leverage remains stable: Fitch
13th May 2019
U.S property and casualty (P&C) insurers’ financial leverage remained stable year-on-year, according to Fitch Ratings, who recorded the sector’s aggregate financial leverage ratio (FLR) at 'A-'. Fitch explained that the ratio implied debt rating guidelines at 22.6% for year-end 2018, which was down minimally from 22.9% at year-end 2017. "In the medium ... Read the full article
Increased Q1 PPL uptake across Lloyd’s while IUA usage drops
13th May 2019
First quarter data released by the Board of Placing Platform Limited (PPL) shows increased adoption levels across Lloyd’s syndicates, whereas uptake among International Underwriting Association (IUA) companies fell behind the strong numbers put up in the previous quarter. Data shows that Lloyd’s syndicates, led in the rankings by Liberty Managing ... Read the full article
A&P Worldwide Solutions registers as Lloyd’s broker
13th May 2019
A&P Worldwide Solutions Limited, a reinsurance broker based in London, has announced that it has been granted the status of a Lloyd’s broker. Registering with Lloyd’s will allow A&P to expand its operations while continuing to provide its current levels of service, the broker explained. "We are delighted to achieve Lloyd's broker ... Read the full article
Everest Insurance adds Joanna Suarez & Mary Rimbey to E&S Casualty team
13th May 2019
Everest Insurance, a division of Bermuda-based reinsurer Everest Re, has announced the addition of Joanne Suarez and Mary Rimbey to its E&S Casualty group, based in the company’s Chicago office. Suarez has joined the E&S Excess Casualty group as a Director with responsibility for underwriting excess casualty business over a range ... Read the full article
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