Reinsurance News
XL Catlin adjusts global Life, Accident and Health team
4th April 2018
XL Catlin has made changes to the global Life, Accident and Health team of its insurance operations with the promotion of several existing members and the appointment of new roles. Simon Hearn has been promoted to Head of Life and Wholesale Accident & Health in the UK, and, in addition to ... Read the full article
Cape Analytics expands AI-driven property data coverage to national U.S market
4th April 2018
Cape Analytics, a re/insurance data analytics provider, has announced that its property data coverage has been launched across the entire continental U.S, and claims it is the first national coverage to provide instant, imagery derived property information. The expanded coverage will allow U.S re/insurers to instantaneously access data on over 70 ... Read the full article
JLT Re makes three new senior U.S appointments
4th April 2018
JLT Re (North America) Inc. has announced the appointments of George Daddario, Peter Chandler and Chip Ott to key executive positions within the company. Daddario, who joined JLT Re in 2014 in the acquisition of Towers Watson, has been appointed to the newly created role of Executive Chairman, and will be ... Read the full article
Beazley embeds workplace violence cover for U.S. insurer clients
4th April 2018
Beazley has embedded workplace violence cover for its U.S. insurer clients in response to growing awareness of the extent of workplace violence and harassment as campaigns like #Metoo and #Timesup become centre stage. Over two million Americans experience workplace violence each year, with potentially devastating consequences for organizations and individuals, however, ... Read the full article
Spain’s re/insurers to benefit from GDP growth, improved sovereign outlook: S&P
4th April 2018
The Spanish insurance and reinsurance sector is set to benefit from an improving economic outlook for the country, as GDP growth and an improved sovereign outlook flow through to re/insurers, according to Standard & Poor's. Rating agency S&P has upgraded the Spanish sovereign credit ratings to 'A-' from 'BBB+' on economic ... Read the full article
FEMA to transfer National Flood Insurance Program risk to capital markets
4th April 2018
The Federal Emergency Management Agency (FEMA) has announced plans to de-risk the U.S National Flood Insurance Program (NFIP) with additional reinsurance by engaging the capital markets through an insurance-linked securities (ILS) transaction scheduled for July 2018. FEMA claims this new ‘building block’ will allow it to transfer risk through both traditional ... Read the full article
Swiss Re open to commercial book bolt-on acquisitions: CEO Mumenthaler
4th April 2018
Global reinsurance firm Swiss Re is looking for growth within its commercial insurance book, the Corporate Solutions division, and is open to bolt-on type acquisitions to drive further growth in that area of its business. Speaking to the media this morning, Swiss Re CEO Christian Mumenthaler said that the firm would ... Read the full article
GIC Re to lead largest Indian offshore oil & gas re/insurance program
4th April 2018
GIC Re has won the bid to be the lead re/insurer for India's government backed offshore energy provider Oil and Natural Gas Corporation (ONGC). State-run reinsurer General Insurance Corp of India (GIC Re) will be able to take a 15% line on the ONGC program, which looks to re/insure upstream offshore ... Read the full article
Athora Holding completes £170mn Aegon Ireland purchase
4th April 2018
Athora Holding Ltd. has announced the completion of its acquisition of Aegon Ireland plc, the Irish subsidiary of Dutch re/insurer Aegon N.V., for a final total consideration of approximately GBP 170 million (€195 million). Following the transaction, Athora now has roughly €10 billion of consolidated assets, 300,000 policyholders, and 400 employees ... Read the full article
SoftBank talks ongoing, but only a 10% investment stake on the table: Swiss Re
4th April 2018
According to reinsurance giant Swiss Re this morning, the talks with Japanese technology conglomerate and investor SoftBank Group are continuing, but the expectation is that if a deal is struck it will be for a maximum of 10% of the reinsurers share capital. The reinsurer explained this morning that, "negotiations are ... Read the full article
Prudential collaborates with PIC to de-risk small pensions
4th April 2018
Prudential Retirement, a unit of Prudential Finance, Inc., and Pension Insurance Corporation (PIC) have collaborated on a new approach to expedite longevity reinsurance transactions on smaller pension buy-ins and buy-outs. The partnership will allow PIC to more efficiently address the risk transfer needs of small pensions by combining an advance commitment ... Read the full article
Lloyd’s Chairman outlines disruptive technology challenges for re/insurers
3rd April 2018
In a recent interview with CNBC, Lloyd’s of London Chairman Bruce Carnegie-Brown has outlined how he believes disruptive technologies will impact the re/insurance market, and which sectors are likely to be susceptible to technological innovation. He explained that the sectors most likely to be affected were those “very highly commoditised ... Read the full article
Tokio Marine Kiln partners on new cyber security offering
3rd April 2018
Tokio Marine Kiln (TMK) has launched a new insurance and services policy in conjunction with intelligence experts XCYber and Sytorus, which will protect clients from cyber-attacks and offer consultancy on the European Union’s (EU) General Data Protection Regulation (GDPR), which comes into effect in May. The new product, called Cyber Ctrl, ... Read the full article
ABIR appoints Suzanne Williams as Director of Policy and Regulation
3rd April 2018
The Association of Bermuda Insurers and Reinsurers (ABIR) has announced that Bermudian Suzanne Williams has been appointed as its new Director of Policy and Regulation. Williams will bring nearly 22 years of industry leadership experience to the Association, most recently from her role at Hiscox Re as Head of Reinsurance Compliance ... Read the full article
Japanese P&C outlook remains stable: Moody’s
3rd April 2018
Moody’s considers the outlook for the Japanese property and casualty (P&C) industry to be stable, citing strong domestic profitability and capitalisation, but predicts that further improvement is unlikely. Japan’s P&C sector has maintained a stable outlook since July 2012, largely owing to the profitability of its auto insurance, which constitutes its ... Read the full article
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