Reinsurance News
InsurTech start-up Wrisk makes three leadership appointments
9th April 2018
InsurTech start-up Wrisk has expanded its leadership team with the appointments of Nimeshh Patel as Chief Operating Officer (COO), Stewart Duncan as Chief Data Officer, and Sima Patel as Head of Marketing. Nimeshh Patel has already served as a member of Wrisk’s advisory Board, and will support the company's goal of ... Read the full article
Chubb names Division Presidents for North America operations
9th April 2018
Chubb has expanded its North America Insurance operations with the appointments of Christopher A. Maleno as Division President, Field Operations and Matthew Merna as Division President, Major Accounts. Maleno will now be responsible for organising Chubb’s 48 branch and regional offices across the U.S and Canada, and will manage the company’s ... Read the full article
Overall, U.S. tax reforms to benefit global brokers: Moody’s
9th April 2018
The U.S. tax reform is predicted to have an overall positive impact on brokers domiciled in the country, with the lower corporate tax rate boosting net profits. However, for highly leveraged private brokers the reforms could reduce earnings due to higher taxable income from limits on the deductibility of interest ... Read the full article
AIR Worldwide partners with RenRe to model long-tail casualty risk
9th April 2018
AIR Worldwide, the catastrophe modelling arm of Verisk Analytics, has announced that it will partner with RenaissanceRe (RenRe) to develop the re/insurance industry’s first probabilistic model for extreme liability events. As part of the collaboration, AIR Worldwide plans to use Arium, its exposure management application, to measure portfolio-specific loss potential and judge ... Read the full article
Beazley CEO Horton to succeed Aubert as Chair of the London Market Group
9th April 2018
The London Market Group (LMG) has announced that Andrew Horton, Chief Executive Officer (CEO) of Beazley, will succeed Nicolas Aubert as its new Chair. Aubert, who is Head of Great Britain for insurance and reinsurance broker Willis Towers Watson, has held the position for the last two years, and will be ... Read the full article
ISO’s cyber insurance programme implemented in 42 states and U.S. territories
9th April 2018
Verisk ISO's new cyber insurance programme, which features rating information and advisory loss costs along with an array of cover options, has been implemented in 42 states and U.S. territories. The programme is designed to help insurance companies expand into the growing cyber market, which is forecast by Verisk analytics to ... Read the full article
TransRe names Cardona VP of Marketing & Business Development, Latin America & Caribbean
9th April 2018
TransRe, the reinsurance arm of Alleghany, has announced the appointment of Hugo Cardona, formerly of Aspen Re, as Vice President of Marketing and Business Development for Latin America & Caribbean. The reinsurer states that in his new role Cardona will ... Read the full article
Stable 2018 outlook for UK life re/insurers: A.M. Best
9th April 2018
A recent report by A.M. Best has concluded that the outlook for the UK life re/insurance sector is likely to be stable over 2018, owing to favourable growth opportunities from defined contribution (DC) pensions and bulk annuity transactions, despite a number of challenges and uncertainties. A.M. Best expects the DC pension ... Read the full article
Sompo appoints VP’s for U.S Insurance Business Development
9th April 2018
Sompo International has appointed Jonathan Monks and Ben Tasse as Senior Vice Presidents, Business Development, for the company’s U.S Insurance platform. Monks and Tasse will now work to develop the platform’s interactions with key U.S distribution markets and build broker/agent relationships, and will report to Chris Sparro, Chief Executive Officer (CEO) ... Read the full article
Technology will transform re/insurance value chain, says Swiss Re’s Mumenthaler
6th April 2018
Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re, has asserted that “Technology will fundamentally change the insurance value chain over the coming years” in a statement that comes alongside Swiss Re’s plans for technological adaptation and integration. Swiss Re maintains that it has prepared for technological market disruption by firmly ... Read the full article
IBHS names FEMA’s Roy Wright as successive President and CEO
6th April 2018
The Insurance Institute for Business & Home Safety (IBHS) has named Roy E. Wright as the successor to Julie Rochman, who is retiring from her current role as company President and Chief Executive Officer (CEO) at the end of June 2018. Wright is currently Deputy Associate Administrator for Insurance and Mitigation ... Read the full article
Markel announces series of appointments within trade credit, political risk & surety business
6th April 2018
Specialist insurer and reinsurer Markel International has made a string of appointments and promotions in its trade credit, political risk and surety business, restructuring its teams to better reflect the needs of its broker clients across these lines. Adrian Jones has been appointed Head of Strategic Development for Asia and the ... Read the full article
XL Catlin partners with Praedicat to address evolving casualty risks
6th April 2018
XL Catlin has enlisted Praedicat, an InsurTech analytics company, to help address changing liability insurance and reinsurance needs using its emerging risk models and software for casualty re/insurance. The companies have agreed to work together on a multi-year basis, and will utilise Praedicat’s latency risk model and mass litigation scenarios, its ... Read the full article
LMA announces new and re-elected Board members
6th April 2018
The Lloyd's Market Association (LMA) has elected four candidates to its Board as members, as well as confirming that the Chief Underwriting Officer (CUO) of Beazley, Neil Maidment, will remain as Chairman of the LMA. Following the recent nomination process and effective from the AGM on May 31st, 2018, the LMA ... Read the full article
Peak Re completes sale of 13.1% stake to Prudential Financial
6th April 2018
Peak Reinsurance Company Limited has announced the completion of the sale of a 13.1% stake in Peak Re Holdings to Prudential Financial, Inc. The deal had been planned since February 2018, and was completed via the issuance of new shares to a wholly owned subsidiary of Prudential Financial. Before this transaction, ... Read the full article
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