Reinsurance News
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
P&C pricing growth slows, say analysts
16th July 2018
Reinsurance pricing trends for property and casualty (P&C) lines appear to have slowed over 2Q18, with mid-year renewals modestly weaker than at January 1 and rates ranging from flat-to-down to modest increases for most lines, according to analysts. Keefe, Bruyette & Woods (KBW) noted that pricing trends were mixed overall, with ... Read the full article
Chubb announces membership to blockchain solutions startup BiTA
16th July 2018
Global property and casualty insurer Chubb has become an industry association member of the Blockchain in Transport Alliance (BiTA), a company designed to promote the development of blockchain use through applications in the trucking and transportation logistics industries. Chubb hopes the move will aid in further digitising its products and services, ... Read the full article
Labuan IBFC records insurance sector growth in 2017
16th July 2018
The Labuan International Business and Financial Centre ( Labuan IBFC) has revealed that it continued to serve the growing regional insurance sector in 2017, with gross written premiums (GWP) increasing by 2.2% to US$1.4 billion. Throughout the year, 14 insurance and insurance-related new set-ups launched in the region, although the overall ... Read the full article
BLM makes senior appointments to London Market and Reinsurance
16th July 2018
Insurance and commercial risk law firm BLM has appointed two new partners to its London office aimed at adding experience in London Market and reinsurance areas. Damian Cleary joins as Head of London Market, and Gavin Coull as Head of Reinsurance. Both Cleary and Coull join from U.S-based law firm, Foran ... Read the full article
FEMA taps capital markets for flood reinsurance for first time
16th July 2018
The U.S. Federal Emergency Management Agency (FEMA) is to use the capital markets for the first time for reinsurance protection, with the launch of a $275 million FloodSmart Re Ltd. (Series 2018-1) catastrophe bond to transfer risk from the National Flood Insurance Program (NFIP). Domiciled in Bermuda as a special ... Read the full article
Lockton adds Brian Horwell to Financial Institutions team
16th July 2018
Global insurance and reinsurance broker Lockton has continued to expand its Financial Institutions team with the appointment of Brian Horwell as a Producer. Horwell has over 30 years’ industry experience and joins Lockton from Willis Towers Watson, where he most recently served as head of its wealth and asset management team. Prior ... Read the full article
UK gig economy represents growing insurance opportunity: GlobalData
16th July 2018
With 2.8 million individuals currently working within the UK’s gig economy, there are major benefits to be gained for insurers who are quick to tap into this rapidly expanding market, according to data and analytics firm GlobalData. A recent report by the company found that the market is only currently being ... Read the full article
Price Forbes bolsters Power Utility and Construction team
16th July 2018
Price Forbes & Partners, part of the Ardonagh Group of companies, has announced a number of appointments within its Power Utility and Construction team. Former Managing Director and Placement Leader for Power and Utilities at Marsh UK, Simon Howell, has joined Price Forbes' Power Utility and Construction team, alongside James Williams from JLT Specialty’s Energy Division. David ... Read the full article
Catastrophe market to remain highly competitive: Hannover Re CEO Wallin
13th July 2018
Natural catastrophe is set to remain the most competitive area for reinsurers, due primarily to an abundance of both traditional and alternative capital in the market, as well as the stability of catastrophe models following 2017’s huge losses, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in ... Read the full article
LIIBA sets up delegated authority working group on TOM impacts
13th July 2018
The London and International Insurance Brokers Association (LIIBA) has set up a new working group, called the Broker and Delegated Authority Working Group (BDAWG), which will focus on the work of the London Target Operating Model (TOM) and its impact on binders and line slips. The BDAWG will be part of ... Read the full article
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