Reinsurance News
MIB appoints Dominic Clayden as new CEO
14th March 2018
MIB has announced that Dominic Clayden will succeed current Chief Executive Officer (CEO) Ashton West OBE from 14th May 2018, as well as becoming an Executive Director to the Board. The transition will follow West’s retirement after 15 years at MIB, and he is expected to work closely with Clayden over ... Read the full article
North P&I Club names Simon Main as new Technical Director
14th March 2018
The North of England Protecting and Indemnity Association (North P&I) has announced the appointment of Simon Main as Technical Director in support of the development of the North P&I and Sunderland Marine (SMI) businesses. Main’s appointment represents an important development in North P&I's plans for growth and diversification at a time ... Read the full article
Assurant to fund TWG Holdings acquisition with $277mn stock proceeds
14th March 2018
Assurant, Inc. has revealed that it will use the US $276.7 million net proceeds from its recent sale of mandatory convertible preferred stock, in tandem with other capital sources, to finance its $2.5 billion acquisition of TWG Holding, Ltd., which was announced in October 2017. Assurant recently closed its 6.50% Series ... Read the full article
Allianz Africa hires Arthur Yao from Swiss Re as CUO & Reinsurance Officer
14th March 2018
Allianz Africa Financial Services has named former Swiss Re Acting Head of West Africa Arthur Yao as Chief Underwriting and Reinsurance Officer, with effect from September 1st 2018. In his new role at Allianz Africa Yao will be responsible for direct underwriting and reinsurance strategies across all lines of business in ... Read the full article
Barbican Insurance names Sarah McGurk as D&O liability class underwriter
14th March 2018
Barbican Insurance Group has appointed Sarah McGurk to class underwriter for directors’ & officers’ (D&O) liability insurance, set to work as part of the financial lines division and report to Hans Sherman, underwriting manager, D&O. McGurk brings 24 years of market experience and 10 years experience as a D&O specialist to the ... Read the full article
Insurance M&A market more sophisticated as sector boundaries blur: EY
14th March 2018
The insurance merger & acquisitions (M&A) market is becoming increasingly sophisticated as the sector transforms in response to the impact of technological innovation, driving convergence between sectors and the growth of digital ecosystems. Lines in both InsurTech application and investor-types have become blurred as digital ecosystem-based distribution platforms open up industries ... Read the full article
Selective adds H. Elizabeth Mitchell to Board of Directors
14th March 2018
Selective Insurance Group has recently announced the appointment of H. Elizabeth Mitchell to its Board of Directors, effective March 9th, 2018. Mitchell is currently a director of StanCorp Financial Group and a member of the Board of Advisors of Hudson Structured Capital Management Ltd, and in 2016 retired from her position ... Read the full article
European Commission’s sustainable plans support investment for re/insurers: Moody’s
14th March 2018
The new sustainable finance plans proposed by the European Commission (EC) will stimulate investment, help to manage sustainability-related financial risks, and foster transparency and long-term decision making in financial and economic activity for re/insurers in the European Union (EU), says ratings agency Moody’s. Moody’s notes that the EC outlines three main ... Read the full article
Arch sets up subsidiary to channel Freddie Mac mortgage risk to reinsurers
14th March 2018
Arch Capital Group Ltd. has announced that a newly established U.S subsidiary, Arch MRT, will be piloting a new mortgage credit risk transfer program, called Integrated Mortgage Insurance (IMAGIN), in conjunction with the Federal Home Loan Mortgage Corporation (Freddie Mac). The arrangement will see Arch underwriting risks from Freddie Mac and ... Read the full article
New Paradigm Underwriters names Evan Bull as Executive Vice President
14th March 2018
New Paradigm Underwriters, creator of Hurricane PM Parametric Supplemental Hurricane Insurance, has announced the appointment of Evan Bull as Executive Vice President. 25-year insurance industry veteran Bull joins from a managing director role at Beecher Carlson where he head up business development, before that he was national property practice leader at Burns ... Read the full article
MarketScout launches new Social Support facility
14th March 2018
U.S electronic insurance exchange and MGA incubator MarketScout has announced the launch of a new facility aimed at Social Services providers, called Social Support. Social Support will provide professional liability, general liability, property, cyber and limited auto coverage and will underwrite on behalf of Lloyd’s of London. The facility will provide coverage ... Read the full article
Canopius hires Meyer as CFO from Brit, Davison as COO from Exari
14th March 2018
Canopius, the newly established as independent Lloyd's specialty insurance and reinsurance firm, has announced two senior hires this morning. Nigel Meyer, the Chief Operating Officer of global specialty insurer and reinsurer Brit, is departing the role to take on the Chief Financial Officer position at Canopius. Meyer joined Brit in 2011 and ... Read the full article
Rothesay Life reinsures £12 billion annuity book for Prudential
14th March 2018
Life, annuities, pension and longevity re/insurer Rothesay Life has reinsured a £12 billion chunk of Prudential plc's annuity book managed under the M&G Prudential brand. Prudential today announced that it will be demerging its UK & Europe business M&G Prudential from the overall Prudential plc group, resulting in two separately-listed companies. The ... Read the full article
U.S. commercial insurance prices show modest increase in Q4: Willis
13th March 2018
A survey by Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS) has revealed a slight increase in U.S commercial insurance prices in the fourth quarter of 2017, compared with the previous year. The survey found that price changes continued to average less than 1% for the 10th consecutive quarter, following ... Read the full article
Natixis expands M&A advisory reach with three strategic investments
13th March 2018
Natixis has revealed plans to expand its M&A advisory footprint through investments in Fenchurch Advisory Partners in the UK, Vermilion Partners in China, and Clipperton in France. Following the acquisitions of Leonardo & Co France and 360 Corporate in 2015, and of PJ SOLOMON in New York in 2016, these transactions ... Read the full article
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