Reinsurance News
AXA’s legacy arm acquires majority stake in Emirates Re
17th July 2018
Specialist run-off acquirer and manager AXA Liabilities Managers has signed its 19th acquisition on the external market with the purchase of a majority stake in Dubai-headquartered Emirates Re. “We are delighted to pursue our external development with the acquisition of Emirates Re,” said Sylvain Villeroy de Galhau, Chief Executive Officer (CEO), ... Read the full article
PERILS increases loss estimate for European windstorm Friederike by €46m
17th July 2018
Zurich-based catastrophe loss data aggregator PERILS has increased its third loss estimate for European windstorm Friederike, also known as David, by €46 million. Windstorm Friederike caused significant damage as it swept through the British Isles, Belgium, the Netherlands, and Germany over January 17 and 18, 2018. PERILS’ third estimate, based on loss ... Read the full article
“Cultural misalignment” hinders InsurTech innovation: Maffeo, Boost Insurance
17th July 2018
As technology continues to advance and increasingly looks to disrupt the global insurance industry, partnerships between incumbents and InsurTech startups are becoming more and more commonplace, however, cultural misalignment could be hindering innovation across the sector, according to Alex Maffeo, Chief Executive Officer (CEO) and Founder, Boost Insurance. Speaking with Reinsurance ... Read the full article
Munich Re CFO Jörg Schneider to step down, Christoph Jurecka incoming
17th July 2018
Munich Re’s long-standing Chief Financial Officer (CFO) and Board of Management member Jörg Schneider is to step down at his own request on December 31st, 2018. Christoph Jurecka, who has served as CFO of Munich Re’s primary insurance subsidiary ERGO Group AG for the past seven years, has been announced as ... Read the full article
Coface names Swiss Re’s Carmina Abad Sánchez as CEO for Latin America
17th July 2018
Credit insurer Coface has appointed Carmina Abad Sánchez, formerly of Swiss Re, as its new Chief Executive Officer (CEO) for the Latin America Region. Sánchez has more than 30 years’ experience holding senior leadership positions in the re/insurance industry, and most recently served as Chairman of Swiss Re Group in Mexico ... Read the full article
New insurance standards act grants U.S congress increased oversight
17th July 2018
The U.S has passed a new bill that will allow Congress to have greater involvement in negotiations regarding international insurance standards, which it claims will preserve the State-based system of regulation and improve transparency. Adopted by a vote in the House of Representatives recently, the International Insurance Standards Act of 2018 ... Read the full article
Zurich NA names Deirdre Manna Head of Government & Industry Affairs
17th July 2018
Zurich North America, a division of Zurich Insurance Group, has appointed Deirdre Manna as Head of Government & Industry Affairs. Manna undertook the role on July 9 and will be leading Zurich’s engagement with elected officials at the state and federal level on public policy issues that may impact the company’s ... Read the full article
Third Point Re appoints two Senior Vice Presidents, Underwriting
17th July 2018
Hedge fund-backed reinsurer, Third Point Re has appointed both David Drury and Steven Wilson to the role of Senior Vice President, Underwriting. "We are very excited to have David and Steven join the Company as they bring proven track records and significant underwriting experience to the team,” said Robert Bredahl, President ... Read the full article
Comprehensive RMS risk model update strengthens Asia Pacific capabilities
17th July 2018
Global risk modeling and analytics firm RMS has launched Version 18, the latest version of its leading catastrophe risk management software. V18 provides a host of modelling updates across the Asia Pacific region and North America, as well as an updated terrorism scenario model. Post Loss Amplification (PLA) - which allows the impact ... Read the full article
President of Travelers calls for auto industry involvement on automation
17th July 2018
The Executive Vice President and President of Personal Insurance at American insurer Travelers, Michael Klein, has highlighted the important role the insurance industry must play in the development of policies surrounding autonomous vehicles. “With the increasing adoption of semi-autonomous vehicles and the potential for fully autonomous vehicles, several policy-related questions and ... Read the full article
Lloyd’s insurers to experience strong H1 earnings growth: J.P. Morgan
16th July 2018
Lloyd’s insurers are expected to experience strong earnings growth for the H1 season, driven by good underwriting results and low natural catastrophe losses, according to analysts at J.P. Morgan. Analysts expect the H1 earnings season to build on the promising results of Q1, with further topline growth driven by a combination ... Read the full article
Brown & Brown acquires P&C insurer Coffman-Standridge Inc.
16th July 2018
Brown & Brown has announced that its subsidiary, Brown & Brown Arkansas, has acquired substantially all of the assets of Coffman-Standridge Incorporated (CSI Insurance) from the company’s sole shareholder, Mark A. Coffman. Founded in 2010, CSI Insurance provides property and casualty (P&C) insurance products and services to customers throughout Arkansas, with ... Read the full article
JBA launches first UK climate change flood risk model
16th July 2018
JBA Risk Management, the global flood risk modeller, has developed the first probabilistic catastrophe model to factor in the effects of climate change on flood risk for insurers and reinsurers in the UK. The launch of the UK Climate Change Flood Model is accompanied by the projection that annual average losses ... Read the full article
Tokio Marine Kiln announces new robotics partnership with NTT DATA UK
16th July 2018
London-headquartered specialist insurer Tokio Marine Kiln (TMK) has partnered with consulting and IT solutions firm, NTT DATA UK, to drive a more efficient service through robotics. Robotic Process Automation (RPA) is an application of technology aimed at automating business processes, leveraging automation to optimise data-processing capabilities. “As RPA technology continues to advance, ... Read the full article
MacColl joins JLT Re from Guy Carpenter as Head of Credit and Surety, NA
16th July 2018
JLT Re (North America), a subsidiary of the global provider of reinsurance broking and consultancy, has appointed Scott MacColl as Head of Credit and Surety for North America. In addition to his role in North America, MacColl is expected to work closely with global teams to help build out the Credit ... Read the full article
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