Reinsurance News
France to win 2018 World Cup based on insurable value, says Lloyd’s
14th June 2018
Of the £13 billion worth of footballing talent set to showcase throughout Russia during the FIFA World Cup, France has the most expensive team and therefore, according to Lloyds, will win the competition. Undertaken with the Centre for Economics and Business Research (Cebr), the research used players’ wages and endorsement incomes, ... Read the full article
RSG names Katie Davies as head of new catastrophe underwriting facility
14th June 2018
Ryan Specialty Group (RSG) has announced that Katie Davies will be joining an RSG affiliate as President and Chief Executive Officer (CEO) of a new property catastrophe managing underwriting facility. Exclusive to RT Specialty, RSG says the facility represents a commitment to provide additional capacity and innovative property solutions for the ... Read the full article
Zurich partners with Insurtech platform Digital Insurance Group
14th June 2018
Zurich has signed a multi-year collaboration deal with Amsterdam-headquartered insurtech platform Digital Insurance Group (DIG). Parallel to the agreement, DIG has received $15 million via a funding round co-lead by Zurich Insurance and Finch Capital. This deal bolsters Zurich’s digital capabilities moving forward, providing access to a next generation technology experienced ... Read the full article
Advent launches consultancy division, appoints Parminder Kaur as Director
14th June 2018
Lloyd’s & London market service provider Advent Insurance Management has announced the launch of Advent Insurance Consulting, appointing Parminder Kaur as Director. The division has been set up to provide expert assistance and drive operational efficiency for broker, carrier and coverholder customers of Advent's global claims TPA services, back office services ... Read the full article
Volante secures $900mn capacity deal for new underwriting teams
14th June 2018
Volante Global Limited, a multi-class international managing general agent (MGA) platform, has secured a $900 million treaty agreement with three A+ rated global carriers to provide capacity for nine new underwriting teams. The new teams are scheduled to launch on the Volante platform in the second half of 2018, and will ... Read the full article
Blockchain could bring greater efficiency & higher profits for re/insurers: BCG
14th June 2018
Blockchain’s promise of a more efficient, secure and cost-effective ecosystem for re/insurers is very real, but the logistical and regulatory shift required to leverage its benefits is considerable and will require years of further examination and experimentation. A report by BCG estimates that blockchain, properly integrated and deployed, could reduce the ... Read the full article
ING steps back into insurance sector with exclusive AXA partnership
14th June 2018
A multi-year, exclusive bancassurance partnership between major lender ING and insurance giant AXA has been announced that will see property & casualty (P&C), health and protection insurance solutions offered to ING customers in six countries - France, Germany, Italy, Czech Republic, Austria and Australia - via its mobile app. This agreement ... Read the full article
StartPoint hires Selby as FI underwriter from Liberty Specialty
14th June 2018
London-based, Ryan Specialty-owned MGU StartPoint Executive Risks has announced the appointment of Mark Selby as Head of its newly-launched Financial Institutions (FI) underwriting practice. Selby joins with over two decades experience and has held various senior leadership positions across the insurance sector. He spent the last six years working with Liberty Specialty Markets, ... Read the full article
AEGIS London appoints Gregory Abel and Thomas Farrell II as Non-Execs
14th June 2018
Lloyd’s managing agency AEGIS London has announced the appointment of Gregory E. Abel and Thomas F. Farrell to its board as Non-Executive Directors. Abel currently serves as Vice Chairman of Non-Insurance Operations at Berkshire Hathaway and Executive Chairman at Berkshire Hathaway Energy, having joined the firm in 1992. He holds holds ... Read the full article
MS&AD to inject $633mn into MS Amlin to achieve future growth
13th June 2018
Japanese insurance group MS&AD Insurance Group Holdings Inc. recently announced plans to inject roughly ¥70 billion (US$632.5 million) into its re/insurance subsidiary MS Amlin, in an effort to sustain the firm's business model for future growth. Following a loss in the 2017 financial year the insurance group has taken steps to improve ... Read the full article
PSC Group to acquire 20% stake in B.P. Marsh
13th June 2018
Australia-based PSC Insurance Group (PSC) is set to acquire an almost 20% stake in venture capital provider B.P. Marsh & Partners (Marsh) via the purchase of both new and existing shares. Marsh has announced the placing of 6,169,194 new ordinary shares to PSC at a price of 252 pence each and ... Read the full article
Chubb appoints Goldman as Executive VP of Overseas General Insurance
13th June 2018
Property and Casualty (P&C) insurer Chubb has announced the appointment of Steven F. Goldman as Executive Vice President (VP), Financial Lines for Overseas General Insurance, effective July 1. In his new New York-based role, Goldman will oversee Chubb’s international financial lines division including directors and officers liability, financial institutions, errors and ... Read the full article
International Group announces new reinsurance broking arrangements
13th June 2018
The International Group of Protection & Indemnity Clubs has restructured the broking arrangements for its General Excess Loss and Hydra reinsurance programmes following the completion of its previous tender process in June 2018. London-headquartered Miller Insurance Services has been appointed flag broker for both programmes with Aon Benfield set to serve ... Read the full article
Beazley considers GDPR implications of Dixons Carphone data breach
13th June 2018
Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article
Climate change and aging populations pose greatest ESG risks, reports Moody’s
13th June 2018
Climate change and aging populations pose the greatest Environmental, Social, and Governance (ESG) risks to European re/insurers, according to a new survey by Moody’s Investors Service. Over 90% of respondents to Moody’s survey, which polled 15 European re/insurance companies, said that ESG is an important consideration for their businesses and brand ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
