Reinsurance News
S&P upgrades Sompo International’s core operating subsidiaries to A+
1st May 2018
S&P Global Ratings has upgraded its long-term issuer credit and financial strength ratings for Sompo International Holdings’ (SIH) core operating companies, from A to A+. SIH and its operating subsidiaries are also considered to have a stable outlook, and S&P raised its long-term issuer credit and senior debt ratings on SIH ... Read the full article
Guy Carpenter works with CyberCube on new cyber risk modelling platform
1st May 2018
Guy Carpenter & Company has entered into a formal license agreement with CyberCube Analytics following a two year strategic partnership that delivered the industry’s first cyber risk modelling platform with an inside-out view of cyber exposure. CyberCube, which was formerly part of Symantec Corporation and is backed by investment from Trident ... Read the full article
Pioneer names Simon Gaffney Group Chief Operating Officer
1st May 2018
Pioneer Underwriters has announced the appointment of Simon Gaffney as Group Chief Operating Officer (COO), effective immediately. Gaffney will be based in London and will report to Group Chief Executive Officer (CEO), Dane Douetil. He brings 20 years of insurance broking industry experience to the role, which includes serving as COO at ... Read the full article
Markel expands marine team with new Senior Yacht Underwriter
1st May 2018
Markel International has expanded its marine team with the appointment of Debbie O’Sullivan as Senior Yacht Underwriter. O’Sullivan will join existing Senior Yacht Underwriter Mark Wimbridge and Assistant Yacht Underwriter Chris Lytton to form a team of three that handles Markel's global demand for large yacht risks. She will operate out of ... Read the full article
Swiss Re Corporate Solutions hires Algar from Zurich to head UK & Ireland
1st May 2018
Swiss Re Corporate Solutions, the commercial insurance arm of the global reinsurance firm, has appointed Jake Algar to the role of Head of UK & Ireland. Algar has been hired from competitor Zurich Insurance, where he had worked since 2002 in roles working up to the Head of Global & London ... Read the full article
Market firming not consistent, but brokerage starts year positively: JLT
1st May 2018
While the reinsurance and specialty lines insurance markets have experienced a moderation or end to price reductions after the major losses of 2017, the pattern of firming rates is not consistent and restricted mainly to loss hit areas, according to JLT. Jardine Lloyd Thompson Group plc (JLT Group or JLT), ... Read the full article
M&A activity is driving reinsurance demand, says Everest Re CEO
30th April 2018
Dominic Adesso, President and Chief Executive Officer (CEO) of Everest Re, has said that the company has experienced an increase in demand for reinsurance from larger primary insurers, driven by increased mergers and acquisitions (M&A) activity in the sector. Everest Re has also seen cedants increasingly turn to reinsurance solutions to ... Read the full article
Nat Re adopts DXC Technology’s SICS life reinsurance software
30th April 2018
National Reinsurance Corporation of the Philippines (Nat Re) has selected DXC Technology’s SICS software to support the operational efficiency of its life reinsurance business. DXC, which is an independent, global end-to-end IT services company, will work with Nat Re to implement SICS, which is a standardised solution designed specifically for assumed ... Read the full article
JLT implements Club Vita and RiskFirst systems to model DB pension plans
30th April 2018
Insurance and reinsurance broker JLT has announced that it will become the first actuarial consultancy to apply Club Vita’s longevity analytics capabilities to defined benefit (DB) pension plans through RiskFirst’s PFaroe modelling system. DB clients at JLT will now be able to conveniently set best-estimate longevity assumptions and strengthen their decision-making ... Read the full article
Ed partners with InsurTech analytics firm SpatialKey
30th April 2018
Global re/insurance, wholesale, and specialty broker Ed has entered a partnership with SpatialKey, a geospatial data enrichment and analytics firm that provides solutions for the insurance and reinsurance industry. Ed believes the partnership will strengthen its data and analytics capabilities by allowing it to access SpatialKey’s advanced geospatial analytics technology. SpatialKey’s software ... Read the full article
Universal to maintain catastrophe retention and increase reinsurance cover
30th April 2018
Jon Springer, President and Chief Risk Officer (CRO) of Universal Insurance Holdings has indicated that the company plans to maintain its current level of catastrophe retention and increase its reinsurance cover, while at the same time spending less than in prior years. Speaking during Universal’s Q1 2018 earnings call, Springer also ... Read the full article
Willis Re appoints Guy Carpenter’s Pinette as head of EMEA Life & Health
30th April 2018
Willis Re has appointed Guy Carpenter’s Franck Pinette as Managing Director of its Europe, Middle East, and Africa (EMEA) Life & Health practice. Pinette, who was most recently Chief Executive Officer (CEO) of European Life Reinsurance operations at Guy Carpenter, will now lead Willis Re’s development in the rapidly growing life ... Read the full article
Tokio Marine Kiln names Anna McNamara as group COO
30th April 2018
Tokio Marine Kiln (TMK), a global provider of specialist and corporate re/insurance, has appointed Anna McNamara as group Chief Operating Officer (COO). McNamara will now lead the strategy and management of all TMK group operations activities across the business. She has been with TMK since 2006, during which time she has played ... Read the full article
Online underwriting platforms may not hold up in court, warns Clyde & Co
30th April 2018
Global law firm Clyde & Co has warned that poorly designed and operated online underwriting platforms can threaten a re/insurer’s ability to defend itself in court. The firm claimed that it is critical that re/insurers review the manner in which these platforms issue documentation and collect information on risks, as these ... Read the full article
ANZ, Suncorp, IBM collaborate on blockchain solutions for re/insurance
30th April 2018
ANZ and Suncorp New Zealand have announced plans to collaborate with IBM on developing blockchain solutions for the re/insurance market in New Zealand (NZ). The parties aim to leverage distributed ledger technology to help make data transfer and payment reconciliation processes between brokers and re/insurers faster and more transparent. The collaborative project ... Read the full article
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