Reinsurance News
AXA’s Jad Ariss named Secretary General of The Geneva Association
1st February 2019
The Geneva Association, a leading international insurance industry think tank, has appointed Jad Ariss Secretary General, effective 1 March. Ariss joins The Geneva Association after a distinguished and diverse career of which his multiple senior positions at AXA are a centrepiece. Ariss joined AXA in 1995 as Chief Financial Officer of AXA ... Read the full article
Cyber and business interruption top global risk rankings: Allianz
1st February 2019
Cyber incidents and business interruption (BI) are tied as the most concerning risks for global businesses in 2019 and beyond, according to the results of the latest Allianz Risk Barometer report. The annual survey by Allianz, which questioned 2,415 experts from 86 countries, found that 37% of respondents identified cyber as ... Read the full article
Miguel Baptista named Chief Data Officer of Hyperion X
1st February 2019
London-headquartered Hyperion Insurance Group has named Miguel Baptista the Chief Data Officer of Hyperion X, its recently launched business targeting key areas of data, analytics and digital platform delivery. He joins from biopharmaceutical company MSD where he served as Senior Director of Information Platforms. In his new role, Baptista will oversee Hyperion ... Read the full article
More price action required across most re/insurance lines: AXIS CEO Benchimol
1st February 2019
Price action in reinsurance lines was evident in some areas at the January renewals with little reductions and response to loss activity. However, global catastrophe pricing remained a disappointment for AXIS Capital at the recent renewal, with President and Chief Executive Officer (CEO), Albert Benchimol calling for more price action ... Read the full article
BGC Partners completes Ed acquisition
1st February 2019
Global broker and financial technology firm BGC Partners has completed its previously-announced acquisition of Ed, the re/insurance brokerage. The deal sees an expansion of BGC’s insurance division which was established last year after it acquired Besso Insurance Group Limited, a Lloyd’s of London broker with operations in the UK, Brazil and ... Read the full article
Global Atlantic invests in InsurTech accelerator
1st February 2019
Life and annuity re/insurance firm Global Atlantic Financial Group has invested in Global Insurance Accelerator, an InsurTech-focused business accelerator. Global Atlantic’s investment will help fund the GIA’s annual mentor-driven program, offering six of the company’s staff members the opportunity to participate as mentors. “We have been aware of the GIA for a number ... Read the full article
Ricardo Borges takes leadership of THB Europe
1st February 2019
Specialist insurance and reinsurance broker THB Group has now completed the leadership transition of its THB Europe division, which includes the retirement of Joaquim Caria. Caria has been facilitating a "smooth transfer of responsibility" to the firm's Managing Director Ricardo Borges since he was appointed in August 2018, and has now ... Read the full article
M&A levels to continue amid adverse market conditions: JMP Securities
1st February 2019
Mergers and acquisitions (M&A) activity is to continue at heightened levels through 2019 as re/insurers try to find opportunities for growth against a backdrop of adverse market conditions, according to analysts at JMP Securities. JMP explained that consolidation would offer an attractive route to growth for many companies due to ongoing ... Read the full article
Neon Italy adds Claims Manager from Generali
1st February 2019
The Italian business of re/insurance specialist Neon has announced the appointment of Paolo Olivari as Claims Manager, effective immediately. Primarily focusing on Hull claims, he will report to the Chief Executive Officer of Neon Italy, Sergio Revello. Olivari brings over 20 years’ experience and joins from Generali, where he ran its Global ... Read the full article
JLT Re highlights soft market as capacity chasing persists
1st February 2019
Based on the 2018 Florida catastrophe renewal, firm order terms (FOT) rate-on-lines (ROL) trended towards the lower end of quotes as capacity chasing continued in the marketplace, according to reinsurance broker JLT Re. In its recently published study of property catastrophe reinsurance pricing - based on 2018 Florida cat renewal, JLT ... Read the full article
April still sweet spot for 2019 renewals: Analysts
31st January 2019
In contrast to the recent 1/1 renewals, which would neither support nor derail the sub-sector, Analysts at Deutsche Bank (DB) see the upcoming April renewals as a positive catalyst for reinsurers due to the role of Japanese business. Probably more than any other traditional market, Japan is still a traditional payback ... Read the full article
US/UK negotiations should focus on regulatory co-op, market modernisation: APCIA
31st January 2019
Fostering deeper regulatory cooperation and the modernisation of cross-border re/insurance market access and data rules have been highlighted as themes that should be discussed surrounding the U.S. / UK trade negotiations, according to Steve Simchak, Vice President and Chief International Counsel of the America Property Casualty Insurance Association (APCIA). Testifying recently ... Read the full article
Drazen Jaksic joins Zurich as Head of A&H Underwriting, Commercial Insurance
31st January 2019
Global insurer Zurich has named Drazen Jaksic as its new Head of Accident & Health (A&H) Underwriting within its Commercial Insurance division. Based in London, Jaksic will assist the company its push to improve consistency and growth across the world in Zurich's international A&H portfolio. He joins Zurich from insurer Chubb, where ... Read the full article
Lloyd’s will complete transfer to Brussels by 2020, says Brexit Director
31st January 2019
Insurance and reinsurance marketplace Lloyd’s of London is expecting to have completed the transfer of policies to its new Brussels subsidiary by the end of the Brexit transition period in 2020, according to Hayley Spink, Director of Lloyd’s Brexit Programme. Speaking as part of a panel at the Fitch Insurance Roadshow ... Read the full article
MMC posts solid re/insurance, overall growth in Q4
31st January 2019
Guy Carpenter, the reinsurance arm of Marsh & Mclennan Companies (MMC), has posted fourth quarter 2018 revenue of $102 million, up 5% on an underlying basis. For the year 2018, Guy Carpenter's revenue increased to $1.3 billion, up 7% on an underlying basis. Meanwhile, MMC’s consolidated revenue in Q4 was $3.7 billion, ... Read the full article
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