Reinsurance News
Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re
11th July 2018
Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article
JLT Re partners with CyberCube
11th July 2018
Reinsurance broker JLT Re has partnered with cyber risk analytics firm CyberCube in a move it says will “provide new and unique insights to help clients face the challenges of cyber risk.” The combination of JLT Re’s existing cyber and enterprise modelling tools with CyberCube is expected to enhance the reinsurance broker's offerings ... Read the full article
Horseshoe appoints new SVP, Advisory Services & Head of London Office
11th July 2018
The Bermuda-headquartered Horseshoe Group has announced the appointment of Jean-Bernard Crozet as Senior Vice President - Advisory Services and Head of London Office. The new role will involve working with Horseshoe’s fund services group on valuation and transparency reporting. Crozet joins from MS Amlin where he served as London Head of Underwriting ... Read the full article
Overall losses from disasters in H1 2018 lowest in over a decade: Munich Re
11th July 2018
A report by Munich Re has revealed fewer severe natural disasters across the first-half of 2018 saw overall losses fall to its lowest level since 2005, with insured losses down from 2017, while stressing that the later months may yet prove costly. The $33 billion total losses were roughly half those of ... Read the full article
Swiss Re places Frontline’s debut $350m catastrophe bond
11th July 2018
Swiss Re Capital Markets has successfully structured the issuance of a $350 million insurance-linked security transaction by Frontline Re on behalf of Frontline Insurance, the largest for a Florida insurer since 2014. "Swiss Re is pleased to provide support to Frontline on its debut catastrophe bond issuance,” commented Jean-Louis Monnier, Co-Head of ... Read the full article
AXA and XL Group reveal branding for combined operations
11th July 2018
AXA and XL Group have revealed the branding and structure of their future combined operations, to be known as AXA XL, following AXA’s acquisition of XL Group for $15.3 billion in March 2018. Once the acquisition is completed, the new AXA XL division will operate under the ... Read the full article
Lloyd’s reveals new digital distribution platform
11th July 2018
The specialist Lloyd’s of London insurance and reinsurance marketplace has launched a new digital distribution platform, called Lloyd’s Bridge, which is designed to more efficiently connect insurance businesses and entrepreneurs with underwriters from the Lloyd’s market. By matching insurers and underwriters, the online Lloyd’s Bridge platform will enable businesses to underwrite ... Read the full article
Global re/insurance M&A set to be second most active year ever: Willis Re
11th July 2018
Willis Re's latest 1st View renewals report suggests that 2018 could be the most active year for M&A across the global insurance sector since 2015 - when volume was $121 billion, boosted by the ACE-Chubb merger - with YTD deal volume running at $44 billion. Transactions such as AXA’s $15 billion purchase ... Read the full article
Tokio Marine Kiln completes WNC Holdings acquisition
11th July 2018
Tokio Marine Kiln has acquired the remaining 51% stake in California-based WNC Holdings, having previously bought 49% of the company in June 2011. WNC is expected to retain its existing brand. WNC is an MGA that provides specialty risk management solutions to U.S. clients and expects $200 million of net written premium ... Read the full article
Global non-life premiums hit $2.2tn in 2017, China driving emerging markets: Swiss Re
10th July 2018
Swiss Re’s Sigma report has shown global non-life insurance premiums increased by 2.8% to $2.2 trillion in 2017, slightly above the 10-year-average of 2.1% despite being a further slowdown from the past two years. Premium growth in emerging markets slowed to 6.1% in 2017 while growth in advanced markets remained steady ... Read the full article
Endeavour names Howden’s Karen Allen as CEO designate following SSL merger
10th July 2018
Lloyd’s broker and delegated authority specialist Endeavour Insurance Services has named Karen Allen as Chief Executive Officer (CEO) designate, who will join the business in October, 2018, following Endeavour’s recently announced merger deal with SSL Insurance Group. Allen will also take up the position of Group Managing Director, and will ... Read the full article
Markel International appoints Simon Barrett to Finance Director role
10th July 2018
Specialist insurer Markel International has appointed Simon Barrett as Finance Director. He is expected to join at the end of 2018, replacing Jeremy Noble who becomes Chief Financial Officer (CFO) of Markel Corporation. Barrett joins from Hamilton at Lloyd’s where he served as CFO for three years. He was previously Finance Director ... Read the full article
Aon and Chubb partner on new terrorism and political violence policy
10th July 2018
Re/insurance broker Aon plc has collaborated with Chubb Limited and Lloyd’s to develop a new stand-alone terrorism and political violence solution, called Platinum, which addresses the demands of an increasingly regulated market. Platinum has been designed for multinational clients looking to fulfil local regulatory requirements in all territories they operate in, ... Read the full article
Fitch suggests large reinsurers can better withstand market challenges
10th July 2018
Fitch Ratings recently affirmed its stable outlook and ‘AA-‘ Insurer Financial Rating (IFR) for European reinsurance giants Swiss Re and SCOR, reasoning that the scale of the companies allows them to better withstand current market challenges. The rating agency recognised that both companies currently had very strong business profiles within the ... Read the full article
Stonybrook Capital appoints William Nutt as a Strategic Advisor
10th July 2018
Stonybrook Capital, an insurance sector-focused merchant and investment banking firm, has announced William Nutt's appointment as a Strategic Advisor. With 40 years’ experience in the insurance industry Nutt will be focusing on providing advisory services to Stonybrook’s clients. Nutt has primarily served with United Guaranty Corporation, then a subsidiary of AIG. While ... Read the full article
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