Reinsurance News
Aspen Re Chairman Boornazian to retire
29th March 2018
Bermudian insurer and reinsurer Aspen Insurance Holdings Limited has announced that Chairman of Aspen Re and Chief Executive Officer (CEO) of Aspen Re, Americas, Brian Boornazian, is to retire from the company, effective end of April, 2018. The company has revealed that Boornazian's role as Chairman of its global reinsurance operation and ... Read the full article
Beazley’s Dirk Froese elected to LMA Aviation Committee
29th March 2018
A recent Lloyd’s ballot has elected Dirk Froese, Head of Aviation at Beazley, to the Lloyd’s Market Association’s (LMA) Aviation Committee for a term of four years. Froese will join re-elected committee members Peter Wakefield, Head of Aviation at Chaucer, and Christopher Collins, Head of Aviation at Talbot, in providing a ... Read the full article
AEGIS London outperforms Lloyd’s 2017 market result by 15%
29th March 2018
Specialist insurer and reinsurer AEGIS London has reported a combined ratio of 99% for its Lloyd's Syndicate 1225 over 2017, which is 15% better than the overall results for the Lloyd’s of London market. AEGIS also saw gross written premiums (GWP) of £462 million for the year, a 23% increase from ... Read the full article
Integro completes merger agreement with Lloyd’s broker Tyser & Co
29th March 2018
Integro Insurance Brokers has announced the completion of an agreement to merge its UK wholesale and UK retail operations with specialist Lloyd's broker Tyser & Co (Tysers). The agreement will see Integro acquire 100% of Hawkes Bay Holdings (HBH), the privately-owned principal parent company of Tysers, upon receipt of regulatory approval. The transaction ... Read the full article
AIG appoints new Head of Marketing and Communications, General Insurance
29th March 2018
American International Group (AIG) has named Ed Dandridge as its new Head of Marketing and Communications, General Insurance. In his new role, Dandridge will support the development and implementation of General Insurance’s global marketing and communications strategy, and will report to Peter Zaffino, Chief Executive Officer (CEO), General Insurance. The appointment will ... Read the full article
PERILS releases final AU $1.74bn Cyclone Debbie loss estimate
29th March 2018
PERILS has released a final loss estimate of AU $1.74 billion (US $1.33bn) for Tropical Cyclone Debbie which struck the Australian states of Queensland and New South Wales from 28th March 2017 until early April. This loss estimate is up by AU $82 million from PERILS' third loss estimate of AU ... Read the full article
David Crozier to succeed Karen Barkley as President of Markel Canada
29th March 2018
Markel International has announced the appointment of David Crozier as President of Markel Canada, set to spearhead its markets and offices across the country and succeed Karen Barkley who is due to retire at the end of the year. Crozier will take up his position at the beginning of 2019 and ... Read the full article
XL Catlin and RedSeal launch risk analysis tool for cyber insurers
29th March 2018
Insurer and reinsurer XL Catlin and RedSeal have launched a risk analysis tool for cyber insurers with a dynamic measure of resilience to gauge risk and improve cybersecurity and insurance terms. The risk analysis objectively measures a network's resilience to help underwriters more thoroughly evaluate their clients’ risks over time, while ... Read the full article
The Hanover explores alternatives for Chaucer business, including possible sale
29th March 2018
The Hanover Insurance Group, Inc. said today that it is exploring "strategic alternatives" for its London-based Chaucer business is underway, which could include a possible sale. A "review of strategic alternatives" is currently being undertaken by the firm, as it looks at its options for the Chaucer international specialty underwriting business ... Read the full article
SoftBank said to be getting closer to Swiss Re deal
29th March 2018
Japanese technology conglomerate, telecommunications and investments giant SoftBank Group is said to closing in on the acquisition of a roughly 25% stake in reinsurance firm Swiss Re, according to a report. Bloomberg said that SoftBank founder Masayoshi Son is set to offer between 100 and 105 Swiss francs per share for ... Read the full article
Monument Re completes acquisition of ABN AMRO life run off vehicle
28th March 2018
Monument Re, a Bermuda Class E reinsurer that specialises in acquisitions of run-off, closed and asset-intensive insurers, has completed the acquisition of ABN AMRO Life Capital Belgium (AALCB) following receipt of regulatory approval by the National Bank of Belgium. AALCB has now been renamed Monument Assurance Belgium N.V. Manfred Maske, Group Chief ... Read the full article
Impact Forecasting develops South African hail catastrophe model
28th March 2018
Impact Forecasting, Aon Benfield’s catastrophe model development centre, has launched a new hail model for the South African re/insurance market in response to the growing frequency and severity of hail-related claims in the region. In South Africa, hail is a regular natural peril, and has been the main driver of catastrophe ... Read the full article
Bank of England assures Brexit implementation period will be stable
28th March 2018
The Bank of England (BoE) has welcomed the European Union’s (EU) decision to allow a Brexit implementation period, and has assured the re/insurance industry that it can plan to operate as normal during this time, although companies may need to seek authorisation subsequently. UK and EU governments last month agreed to ... Read the full article
85% of re/insurance CEOs concerned about pace of tech change: PwC
28th March 2018
PwC has reported that 85% of Chief Executive Officers (CEO) in the re/insurance industry have expressed concern over the pace of technological change, a higher proportion than leaders in almost any other industry. 100 re/insurance CEOs participated in PwC’s 21st Global CEO Survey, which revealed a generally positive outlook among industry ... Read the full article
Axa’s Buberl confident of proving XL deal was the right choice
28th March 2018
The Chief Executive Officer (CEO) of insurer Axa, Thomas Buberl, has told the Financial Times that when discussing the firm's takeover of insurer and reinsurer XL it was evident the market wouldn't respond positively, but that he remains confident of convincing investors. It was announced in early March that Axa ... Read the full article
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