Reinsurance News
Argo names Katie Partington Howarth as Head of Ceded Reinsurance
8th June 2018
Argo Group International Holdings, an international underwriter of specialty insurance and reinsurance products, has appointed Katie Partington Howarth as Group Head of Ceded Reinsurance. Partington Howarth will now be responsible for leading the strategy and implementation of Argo Group’s reinsurance buying for all business lines worldwide. She joins Argo from Ariel Re, ... Read the full article
U.S P&C sector well prepared for 2018 hurricane season: Fitch
8th June 2018
U.S Property and Casualty (P&C) re/insurers are well prepared for the 2018 hurricane season, which is expected to return to normal levels following an extremely active 2017 season, according to Fitch Ratings. The rating agency concluded that U.S insurers are well positioned to withstand a future significant catastrophe event in 2018, ... Read the full article
XL Catlin develops terror cover for auto fleets
8th June 2018
XL Catlin has launched a new insurance solution called Auto Terror Protect for companies with fleets of vehicles that could be used as a weapon in a terrorist attack. The product will be targeted at fleet operators, vehicle rental companies, haulage and logistics companies, and is designed as a contingent umbrella ... Read the full article
Neon adds Non-Executive Director and Assistant VP to Bermuda team
8th June 2018
Neon Bermuda has announced the appointments of Roy Fellowes as Non-Executive Director and Stephanie Outerbridge as Assistant Vice President, Property Insurance. Fellowes has over 30 years’ experience in the Bermuda insurance market, and has previously served as Chief Executive Officer (CEO) of HSBC’s global insurance management business and acted as Senior ... Read the full article
PRA proposes Solvency II risk margin reforms to UK Treasury
8th June 2018
Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer (CEO) of the UK’s Prudential Regulation Authority (PRA), has proposed changes to the design of risk margin in Solvency II rules, which he has suggested are currently too sensitive to the level of interest rates. In a letter to Nicky ... Read the full article
MS Amlin bolsters Asia Pacific team with 3 new Underwriters
8th June 2018
Global specialist insurance and reinsurance firm MS Amlin has bolstered its Asia Pacific team with the appointments of three new Singapore-based underwriters. Neal Thomas joins as Property & Casualty Underwriter, having most recently serving as Director, Head of Property and Casualty at Swiss Re Asia since 2008. Prior to his time ... Read the full article
SCOR Global Life and Transamerica Ventures invest in iBeat health tech
8th June 2018
SCOR Global Life and Transamerica Ventures, the venture capital arm of the Aegon Group and Transamerica, have invested in wearable health technology company iBeat in support of its wellness and safety platform. The investments include enterprise partnerships and booked revenue for iBeat’s cardiac monitoring smartwatch, which will eventually be rolled out ... Read the full article
Korean Re’s dominance challenged as regulators authorise new reinsurers
8th June 2018
South Korea’s financial authorities have decided to authorise new reinsurers in a move that could challenge the dominance of Korean Re, according to Business Korea. The Financial Supervisory Commission (FSC) announced that it would lower the barriers of entry to Korea’s reinsurance market in order to encourage new players and revitalise ... Read the full article
Cyber insurance premiums to dominate by 2021, says Aon
8th June 2018
By examining insurance purchased by corporate, public sector and not-for-profit organisations between 2013 and 2017, Aon Inpoint - Aon’s data, analytics, engagement and consulting team - has predicted that by 2021 the most rapid growth of premiums will be seen in cyber insurance products, with a global market worth estimated at ... Read the full article
Onex makes $175mn investment in Ryan Specialty Group
8th June 2018
Onex Corporation, a Toronto-based private equity investment firm and holding company, has made a $175 million investment to form a strategic, long-term relationship with Ryan Specialty Group (RSG). The investment consists of $150 million of preferred equity and $25 million of common equity, and was made directly by Onex, rather than ... Read the full article
Intermediaries can create win-win value chain opportunities: RFIB & RTG CEO
7th June 2018
The Chief Executive Officer (CEO) of insurance and reinsurance broker RFIB and its parent the Risk Transfer Group (RTG), Steven Beard, is confident in the firm's ability to create opportunities throughout the value chain as it looks to expand its presence and capabilities as an intermediary. As part of its strategy to ... Read the full article
PICC receives approval for Shanghai public offering
7th June 2018
State-owned re/insurer the People’s Insurance Company of China (PICC) has received approval from China’s securities regulator regarding an application for an initial public offering (IPO) on the Shanghai Stock Exchange. PICC has applied to issue up to 4.6 billion shares on the Shanghai Stock Exchange, according the prospectus the company filed ... Read the full article
SCOR & Paris School of Economics create Macroeconomic Risk research chair
7th June 2018
SCOR’s Corporate Foundation for Science has worked with the Paris School of Economics (PSE) in the creation of a research chair on Macroeconomic Risk. The SCOR-PSE announcement is a commitment to better understand and develop macroeconomic risk research by the France-headquartered reinsurer. French economist and governmental advisor Gilles Saint-Paul will provide scientific ... Read the full article
Navigators completes takeover of specialty underwriting agency BDM and affiliate
7th June 2018
The Navigators Group, Inc. has completed its acquisition of specialty underwriting agency Bracht, Deckers & Mackelbert NV (BDM) and its affiliated insurer Assurances Continentales (ASCO), which includes ASCO's Luxembourg domiciled reinsurer, Canal Re SA. The acquisition has now completed after the receipt of all necessary regulatory approvals, with Navigators paying €35 million in cash as consideration ... Read the full article
Ryan Specialty announces launch of MGU, RyanRe
7th June 2018
Ryan Specialty Group has announced the launch of a reinsurance managing general underwriter (MGU) called RyanRe Underwriting Managers (RyanRe), which is led by Executive Chairman Michael O'Halleran and Chief Executive Officer (CEO) and President, Brian Boornazian. The launch of RyanRe expands the company's managing underwriting strategy, and working through reinsurance brokers, ... Read the full article
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