Reinsurance News
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
Pen Underwriting expands broker support team with two senior appointments
13th March 2018
Pen Underwriting has announced that it is to enhance its specialist support of UK brokers by appointing Andy Dodd and Duncan Green to newly created positions in its business development team. Dodd will become Schemes and Delegated Authority Business Development Manager and will be responsible for helping brokers to grow their ... Read the full article
Barbican strengthens cyber cover with incident response & phishing simulation
13th March 2018
Barbican Insurance Group has strengthened its cyber insurance cover by providing incident response exercises and phishing simulation as part of the overall package to be delivered through risk and cybersecurity consulting firm, TSC Advantage. Read the full article
Ed expands Professional & Executive Risk team
13th March 2018
UK reinsurance broker Ed has announced that it has enhanced its Professional & Executive Risk team with the appointment of Duncan Childs as Wordings Advisory Manager. Childs will now be responsible for drafting policy wordings for Ed’s clients, and will report to James Baird, Director of the Professional & Executive Risk ... Read the full article
Argo acquires Italian specialty insurer, Ariscom
13th March 2018
Global specialty insurer and reinsurer, Argo Group International Holdings, Ltd., has announced the acquisition of Ariscom, an Italian specialty insurer. As part of the transactions, and effective immediately, Matt Harris, Head of ArgoGlobal's European and Asian operations, will take on the role of Ariscom Managing Director. Mark E. Watson III, Argo Group's ... Read the full article
Volume of M&As in Europe to increase once Brexit preparations finalised: Clyde & Co
13th March 2018
While uncertainty around the UK’s withdrawal from the EU has acted as a brake on European M&A activity as re/insurers focus on post-Brexit strategies, Clyde & Co expects the volume of deals in the region to increase once firms' Brexit preparations are complete. Transactions have slipped down the agenda as insurers ... Read the full article
R&Q finalises assignment of large deductible liabilities
13th March 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) has announced the assignment of insurance liabilities under deductible policies from a U.S manufacturer. R&Q has stated that the underlying liabilities relate to workers’ compensation policies that were issued by a large U.S carrier to a U.S corporate. The terms of the deal meant the ... Read the full article
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