Reinsurance News
Marsh announces new management structure & names key senior executives
8th September 2017
President and Chief Executive Officer of Marsh, John Doyle, has announced the addition of Global Risk & Digital and Global placement specialities units as well as new appointments to the firm's executive management team as part of a restructuring effort. Doyle commented; “this is an exciting time in our industry as ... Read the full article
Guy Carpenter hires Eisele from Swiss Re to be new Pacific region CEO
8th September 2017
Reinsurance brokerage Guy Carpenter has named Andre Eisele from reinsurer Swiss Re, to become its new CEO of the Pacific Region. Additionally, Guy Carpenter has appointed ex-Munich Re managing director Heinrich Eder to the Guy Carpenter Advisory Board for the Pacific Region. The two senior appointments reflect Guy Carpenter's push deeper into ... Read the full article
DARAG strengthens core team with three senior appointments
7th September 2017
European run-off insurer DARAG has announced three senior appointments, naming Mike Trotman as new Chief Financial Officer (CFO) Alex Roth as Head of M&A and Jim Wilson as new Group Chief Actuarial Officer. The firm said the three appointments are key to the future of the Group and its position as ... Read the full article
Hurricane Irma Miami-Dade landfall a $131bn Realistic Disaster Scenario: Peel Hunt
7th September 2017
On the back of hurricane Harvey, major hurricane Irma has battered parts of the Caribbean and maintains its track towards the state of Florida, with analysts at Peel Hunt citing a $131 billion Lloyd's Realistic Disaster Scenario (RDS) for the storm, should it make landfall in Miami-Dade. Hurricane Irma ... Read the full article
BMS Re US hires Paul Knutson from Willis Re as Exec Vice President
7th September 2017
Specialist re/insurance broker BMS Re US has appointed Paul Knutson, who joins from Willis Re, to Executive Vice President. Knutson will assume responsibility for expansion of business targeting regional multi-line and coastal property catastrophe reinsurance clients, reporting directly to BMS Re US CEO Andrew Bustillo. Andrew Bustillo, CEO, BMS Re US, commented; ... Read the full article
Panama’s re/insurance regulator takes control of Casualty Re
7th September 2017
Panama's Superintendency of Insurance and Reinsurance recently announced that it has intervened in the operations of reinsurer Casualty Re, in response to the company breaching rules on capital adequacy. According to a statement released by the Superintendency of Insurance and Reinsurance of Panama, the Board of Directors of the organisation has ... Read the full article
Financiere Holding announces appointment of two senior executives
7th September 2017
Financiere Holding has announced the appointment of Michel Larigauderie to Deputy Chief Executive Officer (CEO) of Cbp Group and Management Board member, and Stéphane Soudeix as Deputy CEO of Cbp France, with effect from September 1st, 2017. As Deputy CEOs, Michel Larigauderie will head Cbp Group while Stéphane Soudeix will head ... Read the full article
Validus renews $240 million Talbot-led binding authority for political risk
7th September 2017
Validus Specialty Underwriting has announced the renewal of its Political Risk Insurance (PRI) binding authority which is 100% underwritten by underwriters at Lloyd’s and led by Talbot Underwriting, Syndicate 1183. The binding authority was launched in 2016 in anticipation of further growth, Validus said its capacity has since increased from $125 million ... Read the full article
P&C insurers on Caribbean Islands to pass on most Irma losses to reinsurers
7th September 2017
As Hurricane Irma blazes its trail across the Atlantic and wrecks havoc on the Caribbean Islands in its wake, re/insurers providing property and casualty protection in the area are expecting substantial losses, most of which will be passed on to financially strong reinsurers, according to A.M. Best. A.M. Best explained that ... Read the full article
Premia Holdings hires Szalkai from Darag to lead Its EU operations
7th September 2017
Premia Holdings Ltd. (Premia) has hired Zsolt Szalkai, most recently Chief Liability Officer of DARAG Group, a member of its Executive Committee and the Chief Executive Officer of DARAG Germany, to join its senior management team and become president of its European operations. Szalkai will join Premia, a run-off and total-return ... Read the full article
Drover & Munich Re unit partner to launch product for ride-sharing drivers
7th September 2017
Drover and Munich Re’s Digital Partner have partnered to offer ride-sharing drivers and fleet owners bespoke insurance. Clients will be able to buy, renew and maintain policies online through Drover’s online car marketplace platform. Felix Leuschner, CEO and co-founder of Drover, said; "This partnership between Drover and Munich Re will deliver game-changing ... Read the full article
Ed receives Guernsey license, appoints Nick Bachmann from Willis to direct expansion
7th September 2017
International wholesale and specialty reinsurance brokerage, Ed, has received a commercial insurance intermediary license by the Guernsey Financial Services Commission, and also announced the appointment of Nick Bachmann, as it expands its offering on the island. Bachmann joins Ed from rival insurance and reinsurance broker, Willis Towers Watson, and will assume ... Read the full article
Maiden Re invests in InsurTech drone start-up, Betterview
7th September 2017
Reinsurer Maiden Re has announced an investment in InsurTech drone start-up, Betterview, which has now closed a $2.05 million Series Seed round. The latest capital raise takes Betterview's total funding to $3.65 million, and was led by Compound Venture Capital, and included investments from Maiden Re, 645 Ventures, Arab Angel, Winklevoss ... Read the full article
Hurricane Harvey flood damage up to $75bn, private insured loss over $10bn: AIR
7th September 2017
Risk modelling firm AIR Worldwide has provided an estimate of the total property damage from hurricane Harvey's flooding at between $65 billion and $75 billion, while the risk modeller also estimates private insured wind, surge and flood losses of over $10 billion. The flooding property loss of up to $75 billion ... Read the full article
Net premiums down in Q2 as reinsurers look to less competitive lines: Moody’s
6th September 2017
Persistent pressures and intense competition in the global reinsurance industry led to a reduction in net written premiums (NWP) by 0.5% in Q2 2017, when compared with the previous year, and for the cohort of reinsurers tracked by international ratings agency, Moody's. According to the Moody's second-quarter 2017 global reinsurance report, ... Read the full article
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