Reinsurance News
Monetary Authority of Singapore promotes sustainability and technology in re/insurance
23rd March 2018
In a recent speech at the General Insurance Association of Singapore Annual General Meeting Luncheon, Daniel Wang, Executive Director of the Monetary Authority of Singapore (MAS) suggested that MAS will be working closely with re/insurers to promote sustainability and technological innovation in the industry. According to Wang, MAS will encourage re/insurers ... Read the full article
Validus Specialty and Eagle Ocean America collaborate on U.S vessel cover
23rd March 2018
Validus Specialty Underwriting Services has announced that its Marine & Upstream Energy re/insurance team will collaborate with Eagle Ocean America to provide a new range of U.S vessel operator cover. The partnership will allow Eagle Ocean America, which is a full-service insurance facility operated by Eagle Ocean Agencies, to offer new ... Read the full article
Why AI is a game changer for reinsurance: Denis Kessler
22nd March 2018
As the Digital Revolution automates physical labour and drives the computerization of cognitive tasks through the rise of Artificial Intelligence (AI), Chairman and Chief Executive Officer (CEO) of SCOR, Denis Kessler, commented in a recent report that AI and data collection will completely alter asymmetries in insurance transactions and refocus ... Read the full article
Beazley’s Chief Underwriting Officer Neil Maidment to retire
22nd March 2018
Beazley has announced that Chief Underwriting Officer (CUO) Neil Maidment will be retiring at the end of this year and is due to be succeeded by Adrian Cox, who has been running Beazley specialty lines, since 2008. Maidment has been with the company since 1990 and has served as CUO ... Read the full article
Pool Re terror cover to expand as UK Gov changes law
22nd March 2018
Pool Re has commended the UK Government on its commitment to amend the 1993 Reinsurance (Acts of Terrorism) Act to allow the company to cover non-damage business interruption losses that result from acts of terrorism. Currently, in the event of a terrorist attack, Pool Re is only able to reimburse businesses ... Read the full article
Liberty Specialty Markets hires Stephanie de Montricher as Fine Art & Specie Senior Underwriter
22nd March 2018
Liberty Specialty Markets (LSM) has launched Fine Art and Specie underwriting in France with the appointment of Stéphanie de Montricher as Senior Underwriter of Fine Art & Specie. Based in LSM’s Paris office, Stéphanie reports to David Saillen, Head of Fine Arts & Specie for Continental Europe and Didier Robin, Vice ... Read the full article
Allianz X & Tencent Holdings co-lead mobile bank platform N26 funding round
22nd March 2018
Allianz X and Tencent Holdings have co-led European mobile bank N26's $160 million series C funding round, and have joined its Board of Directors alongside other notable investors. The funding will be used primarily for N26’s overall growth strategy and international expansion, particularly throughout the U.S. and UK. Solmaz Altin, Chief Digital Officer ... Read the full article
Gibraltar regulator signs Fintech co-op agreement with Hong Kong Insurance Authority
22nd March 2018
The Gibraltar Financial Services Commission (GFSC) has entered into its first Fintech co-operation agreement with the Hong Kong Insurance Authority, a move which promotes the sharing of information between the innovation teams of both organisations. The GFSC is the Gibraltar financial services market's regulator, and has previously been working with the ... Read the full article
Munich Re’s digitisation to “enhance core business & push back boundaries”: Joachim Wenning
22nd March 2018
As Munich Re invests in digital transformation, Chairman of Munich Re's Board of Management Joachim Wenning said in his letter to shareholders, the strategy is not to imitate business models of data and internet companies but to enhance core business and push back boundaries by adding digital elements. The reinsurance giant ... Read the full article
Pacific Catastrophe Risk Facility eyes growth of members and products: CEO Traill
22nd March 2018
The Pacific Islands' World Bank supported catastrophe risk insurance facility, the Pacific Catastrophe Risk Insurance Company (PCRIC), is eager to expand its reach to more countries as well as provide coverage against a wider range of perils, according to its Chief Executive Officer (CEO), David Traill. The PCRIC serves as a parametric disaster ... Read the full article
Allianz expands Asian Entertainment operations with Singapore launch
22nd March 2018
Allianz Global Corporate & Specialty SE (AGCS) is expanding its Entertainment operations in the growing Asian market with the launch of a new division in Singapore. Since integrating Allianz’s U.S subsidiary Fireman’s Fund in 2015, AGCS has been moving into new markets beyond North America, with expansions in Singapore, Hong Kong ... Read the full article
JLT Specialty USA names Josh Forbes as Senior Vice President
22nd March 2018
Insurance and reinsurance broker Jardine Lloyd Thompson (JLT) subsidiary, JLT Specialty USA, has announced the appointment of Josh Forbes as Senior Vice President (SVP). Forbes is based in New York, and will be responsible for building JLT Specialty USA’s Property Practice in a key growth market by delivering specialised solutions for ... Read the full article
Fosun still open to Ethniki acquisition: Reports
22nd March 2018
According to industry reports, Chinese conglomerate Fosun International Ltd. is ready to again attempt to acquire a stake in the National Bank of Greece SA's insurance segment, Ethniki Insurance, should its proposed deal with Exin Financial Services Holding and Calamos Family Partners Inc deteriorate. Exin and Calamos Family Partners previously won a tender ... Read the full article
Hiscox CEO named Chair of London Market Group’s PPL
22nd March 2018
The Board of the London Market Group's Placing Platform Limited (PPL) has announced that Hiscox Chief Executive Officer (CEO), Bronek Masojada, has been appointed Chair, replacing outgoing Chair David Ledger. Commenting on his new appointment, Masojada said: "I look forward to becoming PPL Chair. David and all those involved in PPL have ... Read the full article
Life insurers face challenges in transitioning to “capital-light” products: S&P
22nd March 2018
European life insurers have been responding to challenges of persistently low-interest rates squeezing already tight margins and making it difficult to cover rising capital requirements from prudential regulation by rethinking their product offerings to less capital-intensive products, according to S&P. As insurers combat tough market conditions, they're shifting toward "capital-light" products, such ... Read the full article
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