Reinsurance News
Occam adds Alan Punter to Board as Non-Exec Director
7th September 2018
Specialty Lloyd’s of London managing general agent (MGA), Occam Underwriting, has added Dr Alan Punter to its Board as a Non-Executive Director. Punter worked for 25 years in global insurance broking groups Sedgwick, Alexander & Alexander and then Aon, where he was Managing Director in the Chairman's Office, and Chief Executive ... Read the full article
Results of our reinsurance market survey now available to view
6th September 2018
We've teamed up with our sister-site Artemis, the longest running publication focused on insurance-linked securities (ILS), to conduct a survey aimed at taking the temperature of the global reinsurance market. Hundreds of responses from identifiable participants were received, including numerous reinsurance market Chief Executive Officers and ... Read the full article
H1 natural catastrophes will have “limited impact” on reinsurers: S&P
6th September 2018
Losses relating to natural catastrophe events that have occurred thus far in 2018 are likely to have only a “limited impact” on reinsurers, with primary insurers and the U.S National Flood Insurance Program (NFIP) expected to bear the majority of the costs, according to a recent report by S&P Global ... Read the full article
IDF appoints Ekhosuehi Iyahen as its first Secretary General
6th September 2018
The Insurance Development Forum (IDF), a partnership of the World Bank Group, the United Nations Development Programme, and global insurers, has appointed Ekhosuehi Iyahen as its first Secretary General, effective 1 October 2018. The organisation says Iyahen will be a visible and central point of contact for the IDF, establishing and ... Read the full article
Sompo launches global financial and professional lines platform SomPro
6th September 2018
Bermuda-based specialty re/insurer Sompo International Holdings has announced the launch of SomPro, a global financial and professional lines platform that will deliver underwriting, risk management and claims services by sharing product expertise and distribution relationships across its specialty teams. The company says SomPro will offer more than 30 different financial and ... Read the full article
Liberty Specialty appoints General Manager of Insurance for Germany
6th September 2018
Liberty Specialty Markets (LSM), the London-headquartered unit of Liberty Mutual Insurance Group, has announced the appointment of Ronan Gerety as General Manager of Insurance, Germany. Gerety brings over 30 years’ experience to the Cologne-based role and joins from from Ironshore International, where he was Head of Continental European distribution since 2016. “Our ... Read the full article
Re/insurance industry benefits from slower pace of regulatory change: S&P
6th September 2018
The re/insurance industry is benefitting from a slow, deliberate pace of regulatory change as jurisdictions around the globe increasingly push for more stringent rules and requirements, according to S&P Global Ratings. S&P compared the regulatory changes of the global re/insurance sector, which appear to be gaining momentum, to regulation in the ... Read the full article
St. Maarten joins Caribbean Catastrophe Risk Insurance Facility
6th September 2018
St. Maarten has become the 20th country to join the Caribbean Catastrophe Risk Insurance Facility (CCRIF) SPC, purchasing coverage for tropical cyclones, earthquakes and excess rainfall. The island nation joined the Facility on September 1 as a late entrant this policy year, which began on June 1, following the British Virgin ... Read the full article
Large, global MGU Bluefin rebrands as Victor Insurance
6th September 2018
UK domiciled managing general underwriter (MGU), Bluefin Underwriting, has announced that it has rebranded as Victor Insurance, following the global unification and rebrand of Schinnerer Group to Victor Insurance, announced earlier in 2018. According to an announcement on the rebranding, Victor Insurance is the largest MGU in the world, and ... Read the full article
JLT Re hires Aon’s Vijay Mavani as Partner for Capital Solutions
6th September 2018
Reinsurance broker JLT Re has announced that Aon Benfield’s Vijay Mavani will be joining the firm as a Partner for its European and Global Capital Solutions business, starting in early 2019. Mavani has spent the previous 17 years at Aon Benfield, where he most recently served as Corporate Solutions Director. He ... Read the full article
GCube launches cyber risk cover for renewables
6th September 2018
Specialist renewable energy insurer GCube has a launched cyber risk policy aimed at protecting renewable energy sources from attacks. The policy follows a rise in cyber hostility towards global power generation and transmission infrastructure. “In the renewables market, the benefits of ‘big data’ and interconnectivity in driving operational efficiency are well-established ... Read the full article
Catalina Holdings appoints Parri Spector to newly-created Director role
6th September 2018
Bermuda-headquartered Catalina Holdings has appointed Parri Spector Director of M&A and Reinsurance Transactions, a newly-created role within the business. The company says Spector will focus on developing Catalina’s business in the U.S via opportunities presented by continued active deal flow. He will be located in Catalina’s New York office and will ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Everest Insurance appoints Don Mango to lead Actuarial Pricing & Modelling
6th September 2018
Everest Insurance, a division of global reinsurer Everest Re Group, has appointed Don Mango as Global Head of Actuarial Pricing and Modelling for insurance. He will be based out of the company’s Liberty Corner, New Jersey office. With over 30 years’ experience in portfolio strategy, capital modelling, hedging and insurtech, Mango ... Read the full article
$125m insured losses expected from tropical storm Gordon: KCC
6th September 2018
High resolution modelling by Karen Clark & Co (KCC) estimates that the insured loss from Tropical Storm Gordon, which made landfall near the Alabama/Mississippi border on September 4 with 70 mph sustained wind speeds, will be close to $125 million. Modelled estimates include losses to residential, commercial, and industrial properties as ... Read the full article
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