Reinsurance News
Amazon, Berkshire Hathaway, JPMorgan name CEO of new healthcare company
21st June 2018
Amazon, Berkshire Hathaway and JPMorgan Chase have appointed Dr. Atul Gawande as Chief Executive Officer (CEO) of the trio’s non-profit, U.S. employee healthcare partnership. The role, effective July 9, will see Gawande serve from the new company’s headquarters in Boston. Warren Buffett, Jeff Bezos and Jamie Dimon - CEOs of Berkshire ... Read the full article
Commercial insurance industry must adapt to secure longevity: Airmic CEO Ludlow
21st June 2018
The commercial insurance industry’s longevity relies on its adaptability to emerging challenges unique to the fourth industrial revolution, according to Airmic Chief Executive Officer (CEO), John Ludlow. Speaking at Airmic’s annual conference in Liverpool, Ludlow pointed out that rapidly changing business models and the rise of cyber-technology is creating new risk ... Read the full article
LIIBA names Sarah Peppiatt and Steve Williams as new committee chairs
21st June 2018
The London and International Insurance Brokers’ Association (LIIBA) has named Sarah Peppiatt and Steve Williams as the new chairs for two of its committees. Both committees are actively involved in modernisation initiatives that aim to make London an easier place to do business, particularly in regard to Placing Platform Limited (PPL), ... Read the full article
Everest offers discounted cyber policy to Center for Internet Security members
21st June 2018
Everest Insurance has announced a joint initiative with the Center for Internet Security (CIS) to offer a premium discount on its new Everest Cyber Elevation Policy to eligible CIS SecureSuite members. CIS is a non-profit entity that uses a global IT community to safeguard private and public organisations against cyber threats. Over ... Read the full article
Willis Towers Watson announces £85mn pension scheme buy-in deal
21st June 2018
Willis Towers Watson has announced a two-tranche, £85 million buy-in deal for the Aliaxis UK Defined Benefit Pension Scheme by London-headquartered Just Group. Willis Towers Watson advised the Trustees of Aliaxis UK on the buy-in transaction structured across two tranches of pensions in payment. The initial tranche, worth approximately £35 million, was ... Read the full article
Munich Re collaborates on new SmartFactory manufacturing initiative
21st June 2018
Munich Re has partnered with MHP, a manufacturing consultancy firm and subsidiary of Porsche AG, and KUKA, a global automation corporation, on SmartFactory as a Service, a new manufacturing initiative designed to streamline product development and safeguard manufacturers from risks. The partnership aims to facilitate the testing and development of new ... Read the full article
Grahame Chilton to return to Capsicum Re
21st June 2018
Global specialist reinsurance broker Capsicum Re has announced that Grahame Chilton is set to rejoin the company later this year after leaving his positions at Arthur J. Gallagher & Co. (Gallagher). Gallagher announced earlier this week that Chilton was leaving his role as head of its UK-based brokerage and underwriting unit, ... Read the full article
Munich Re rumoured to be in talks to sell its asset manager
21st June 2018
According to industry reports, Munich Re is rumoured to be in talks with U.S. fund manager Guggenheim Partners LLC about the sale of its asset management arm, Munich Ergo Asset Management GmbH (MEAG). The Wall Street Journal first reported that talks are at an early stage, and that it remains uncertain ... Read the full article
Monument Re acquires €500m run-off portfolio from Metlife Europe DAC
21st June 2018
Bermudian reinsurer Monument Re has announced the acquisition of a run-off portfolio consisting of linked and traditional life insurance business from Ireland-domiciled Metlife Europe DAC. Monument Re is to act as a reinsurance vehicle for the deal initially, with the risk portfolio ultimately set to be transferred to its subsidiary Laguna ... Read the full article
Post-Brexit crisis looms for 36 million European policyholders: TheCityUK
21st June 2018
There’s a rising concern over issues surrounding cross-border financial contracts post-Brexit, with TheCityUK estimating 36 million policyholders across the continent may be at risk. This potential crisis would affect £26 trillion of outstanding uncleared derivatives should the UK/European Union (EU) fail to reach a solution in time. According to reports by ... Read the full article
Hannover Re to step away from coal investment
20th June 2018
Hannover Re’s pledge to divest from companies dependant on coal for more than 25% of its revenue means close to half of the world’s reinsurers have made commitments to step away from the energy source, according to the Unfriend Coal campaign. Hannover Re’s exclusion policy will not apply to coal power ... Read the full article
Bishopsgate appoints Meredew as Director for Oil, Gas and Marine Trades
20th June 2018
London-headquartered Bishopsgate Insurance has announced the appointment of Chris Meredew as Director UK and International liability, Oil and Gas and Marine Trades. Meredew joins from RKH Specialty, where he served on its marine and energy account, and brings with him over 35 years’ experience in the industry. Prior to his time at ... Read the full article
Aon launches significantly updated Thai flood modeling system
20th June 2018
Aon has announced significant updates and readjustments to its Thailand flood catastrophe model in an attempt to improve understanding of the peril and help "insurers increase resilience for businesses and communities." Aon highlights Thailand’s increasing exposure to frequent floods as a result of its growing population and economy. The region was ... Read the full article
Nephila Climate and Allianz complete Proxy Revenue Swap for Australian wind farm
20th June 2018
Nephila Climate (NCx), the weather and ESG-driven specialty division of Nephila Holdings, together with Allianz Global Corporate & Specialty’s alternative risk transfer unit, have completed a Proxy Revenue Swap and Corporate Power Purchase Agreement (PPA) for the Lal Lal wind farm project in Victoria, Australia. The Proxy Revenue Swap transaction marks ... Read the full article
Liberty Mutual appoints Shaun Kelly and Matthew Dolan to new leadership roles
20th June 2018
Liberty Mutual has appointed Shaun E. Kelly as President of Distribution for Global Risk Solutions (GRS) and Matthew Dolan as President of North America Specialty. Kelly will now be responsible for leading the distribution and marketing of GRS’s globally-diversified commercial and specialty insurance and reinsurance product portfolio. He brings more than 30 ... Read the full article
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