Reinsurance News
Sedgwick announces international and UK executive appointments
20th April 2018
Sedgwick has announced the structure of its new UK leadership team with the appointments of Ian Muress as Chief Executive Officer (CEO), International, Stewart Steel as CEO, UK, and Paul White as Chief Operating Officer (COO), UK. The team will lead Sedgwick’s new combined business operations in the UK, and the ... Read the full article
European reinsurers’ Q1 results expected to normalise: Deutsche Bank
20th April 2018
Deutsche Bank has reported that European reinsurance results for the first quarter of 2018 are expected to return to normal after a challenging 2017, with technical profits anticipated to be up due to the absence of severe natural catastrophe claims. Q1 reports should reflect a solid earnings season, although results have ... Read the full article
Arch obtains $375mn of mortgage reinsurance from capital markets
20th April 2018
Arch Mortgage Insurance Company (Arch MI), a subsidiary of Bermudian insurance and reinsurance group Arch Capital, has secured $374.46 million of indemnity reinsurance from the capital markets through Bellemeade Re 2018-1 Ltd., a special purpose insurer (SPI). The reinsurance protection provides Arch MI with fully collateralised coverage for a portfolio of mortgage ... Read the full article
Credit insurers prosper as tech investment increases: Moody’s
20th April 2018
Moody’s Investors Service has reported that the global credit insurance sector is currently benefitting from a supportive economic environment and new technologically-driven capabilities. Underwriting profitability for the credit sector has been strong since the financial crash, and the average combined ratio of the three leading insurers, Atradius Credito y Caucion S.A., ... Read the full article
Metabiota unveils Pathogen Sentiment Index & agreement with Munich Re, Marsh
20th April 2018
Epidemic risk modeller Metabiota has announced details of its Pathogen Sentiment Index, a tool that enables the estimation of public fear and behavioural change as a result of infectious disease outbreaks, and which is to be used to develop epidemic insurance solutions through an exclusive agreement with reinsurer Munich Re and ... Read the full article
Brockwell Capital completes London team with Graham and Goodair hires
20th April 2018
Brockwell Capital, a recently established UK re/insurance company that covers mergers and acquisitions (M&A) risks, has added senior underwriters Andrew Graham and Alec Goodair to its London team. The addition of Graham and Goodair completes Brockwell's London team, which had previously exclusively consisted of Lee Amerigo and Lana Soroko, who launched ... Read the full article
Lloyd’s CEO Beale and DFID back InsurTech solutions for developing countries
20th April 2018
Penny Mordaunt, Secretary of State for the Department for International Development (DFID), has joined Dame Inga Beale, Chief Executive Officer (CEO) of Lloyd's of London, at a Lloyd's event to discuss how science, innovation, and the City of London can help developing countries recover from natural disasters. Beale and Mordaunt showcased ... Read the full article
Allstate estimates $361mn of pre-tax catastrophe losses in Q1
20th April 2018
Primary insurance giant Allstate has announced estimated pre-tax catastrophe losses for the first-quarter of 2018 of $361 million ($285mn after-tax), with the majority of this occurring in the month of March. The insurer expects catastrophe losses in March alone to reach $222 million pre-tax ($175 million after-tax), which amounts to approximately ... Read the full article
Markel adds new Assistant Marine Underwriter to Singapore office
19th April 2018
Specialist insurer and reinsurer Markel International has expanded the Marine Underwriting team in its Singapore office with the appointment of Wanshi Lin as Assistant Marine Underwriter. Lin will work closely with Marine Underwriter Gustaf Kristiansson to build Markel’s marine hull, liability, and cargo business in the Asia-Pacific region, and will report ... Read the full article
AIG establishes two new insurers ahead of Brexit
19th April 2018
American International Group (AIG) has announced the authorisation of two new insurers in the UK and Luxembourg, and has outlined plans to transfer all business to the new entities ahead of the UK’s departure from the European Union (EU) in March, 2019. AIG’s restructure involves the transfer of AIG Europe Limited’s ... Read the full article
Ensurance launches Faraday Syndicate-backed construction liability product
19th April 2018
Ensurance UK Limited, a construction and engineering managing general agent (MGA) and Lloyd’s Coverholder, has launched a new combined construction liability product, backed by Faraday Syndicate 435 at Lloyd’s. With this new offering, Ensurance UK expands a portfolio that already includes contractors all risk, contractors plant and equipment, homebuild, contractors’ legal ... Read the full article
2017’s disaster events show shifting risk landscape, says Chubb’s Greenberg
19th April 2018
Evan Greenberg, Chairman and Chief Executive Officer (CEO) of Chubb, has asserted that the risk landscape is becoming more complex, and that re/insurers must respond to 2017’s costly natural catastrophe events by adjusting their risk-models and doing more to support government programmes. In the Chairman’s letter to shareholders, Greenberg claimed that ... Read the full article
Asia-Pacific bancassurers in blockchain tech push: GlobalData
19th April 2018
Data and analytics company GlobalData has reported that bancassurers in regions like China, Hong-Kong, and India, where regulators support the open architecture integration model, are exploring new technologies like Blockchain and APIs in a push for open banking. China Construction Bank (CCB) and AIA in Hong Kong were two notable companies ... Read the full article
Stable German non-life sector well placed to withstand challenges: A.M. Best
19th April 2018
A.M. Best has forecast a stable outlook for the German non-life insurance sector, reporting that its robust economy, solid technical profitability, and strong balance sheets are offset by persistently low interest rates, catastrophe exposure, and the threat of market disruption. The German non-life sector has been growing steadily thanks to a ... Read the full article
Marsh develops new cyber suite for business interruption risks
19th April 2018
Re/insurance broker and risk management solutions firm Marsh has committed to addressing the growing threat of business interruption (BI) from cyber-attacks with the launch of a suite of new and enhanced risk analytics and insurance solutions. Demand for BI solutions has grown in response to high-profile cyber events like the WannaCry ... Read the full article
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