Reinsurance News
Generali Leben sale to signal rise in German run-off deals: Fitch Ratings
9th July 2018
Fitch Ratings has declared the recent €1 billion sale of Generali Leben - a company with traditional-business reserves of approximately €37 billion - to Viridium the largest run-off deal in Germany to date. Fitch says the deal reinforces its expectations that disposal of closed funds is to become a growing ... Read the full article
Steady growth in cyber market but fresh opportunities remain: A.M. Best
6th July 2018
Although the cyber insurance and reinsurance market has seen steady growth over the last year, there remain significant untapped opportunities, particularly in regard to cover for SMEs, according to rating agency A.M. Best. The agency’s Market Segment Report observed that cyber risk awareness benefitted from a number of high-profile cyber events ... Read the full article
Record year for bulk annuity as deals set to reach $35bn: Hymans Robertson
6th July 2018
A record breaking year for the bulk annuity market is likely to see transactions reach £35 billion, a 100% increase compared to the average market volumes over the past four years. According to a report by independent pensions consultancy firm Hymans Robertson, the predicted total volume would be significantly higher than ... Read the full article
Concirrus updates AI powered Quest Marine software
6th July 2018
InsurTech company Concirrus has released an updated version of its artificial intelligence (AI) powered data analysis software, Quest Marine 2.0, to enable Lloyd’s marine syndicates to remediate their portfolios. Quest Marine is designed to allows re/insurers and brokers to analyse their entire historical portfolio in seconds, using machine learning algorithms that ... Read the full article
Munich Re to continue underwriting coal, reports Reuters
6th July 2018
Reuters has reported that global reinsurance giant Munich Re is to continue underwriting coal business in spite of investor pressure to follow the likes of fellow reinsurers Swiss Re and SCOR. Swiss Re announced recently that is to begin implementing its thermal coal policy first announced in June 2017, which sees ... Read the full article
Neon appoints Bill Bevan as Senior Underwriter for bloodstock & livestock division
6th July 2018
Re/insurance specialist Neon has announced the appointment of Bill Bevan as Senior Underwriter for its bloodstock and livestock division, effective immediately. Bevan joins with over 30 years’ experience from Tokio Marine Kiln Syndicate 510 where he worked as an equine Underwriter, writing a global bloodstock and equestrian portfolio. He will report ... Read the full article
Tax reforms to restore underwriting profitability in U.S. P&C industry: S&P
6th July 2018
Federal tax reform has emerged as a key variable in revenue growth and profitability as the U.S Property & Casualty market looks set to return to underwriting profitability for the first time since 2015, according to S&P Global Market Intelligence. A recent report by S&P identified various factors that were supporting ... Read the full article
CNA Hardy appoints Rhonda Buege Head of new Specialty unit
6th July 2018
CNA Hardy, a UK specialist commercial re/insurer, has appointed Rhonda Buege as Head of its new augmented Specialty Business Unit, effective immediately. The new business unit will comprise all existing Healthcare and Specialty line products across both company and Lloyd’s platforms. Buege has 20 years’ experience in the industry, joining CNA’s Healthcare ... Read the full article
BTG Pactual hires reinsurance team from Lutece
6th July 2018
Latin America-focused BTG Pactual Asset Management has hired a team from specialist reinsurance investment manager Lutece in order to launch a new reinsurance offering for its clients. “The Lutece team is a great addition to our organisation. This exciting move will enable us to generate returns uncorrelated to traditional credit markets ... Read the full article
RSA appoints Mandy Hunt as Commercial Risk Solutions CUO
6th July 2018
RSA, one of the largest UK commercial insurers, has appointed Mandy Hunt as its new Chief Underwriting Officer (CUO) for Commercial Risk Solutions (CRS), RSA UK & International. She succeeds Colin Bradbury, who will retire from the role next year after more than 40 years with RSA. They will enter a transitional ... Read the full article
Challenges remain but multi-peril crop re/insurance business still favourable: A.M. Best
6th July 2018
Despite notable sector headwinds, ratings agency A.M. Best still views both the primary and reinsurance multi-peril crop insurance business as favourable, highlighting the "marriage" between carriers and agricultural focused technology firms as an efficiency driver. In recent times, the U.S. government-subsidised multi-peril crop insurance industry has been under pressure, driven by ... Read the full article
RiskBlock Alliance moving to same distributed ledger platform as B3i
6th July 2018
The RiskBlock Alliance, a blockchain consortium for the risk management and re/insurance industry, has selected R3's Corda platform to build its first set of use cases, reports CoinDesk. The news follows a recent announcement from the Blockchain Insurance Industry Initiative (B3i) that it has switched away from Hyperledger Fabric’s blockchain to Corda, ... Read the full article
Headwinds curb positive marine rating movement: Willis Re
5th July 2018
Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article
Hamilton Insurance Group appoints Daniel Fisher as Group Head of HR
5th July 2018
Bermudian holding company Hamilton Insurance Group has announced the appointment of Daniel Fisher as Group Head of HR. The London-based role will see Fisher take on the development of the Company’s human resources function, as well as a strategy for recruiting and retaining the talent to support Hamilton’s growth objectives. He ... Read the full article
Planck Re secures $12mn Series A funding to simplify commercial underwriting
5th July 2018
Planck Re, a 2016-founded startup aimed at simplifying commercial insurance underwriting, has secured $12 million in its Series A funding. The round was led by Arbor Ventures and includes Viola FinTech and Eight Roads. Based in Tel Aviv, Planck Re’s technology mines, ingests, cleans, and updates large amounts of data from ... Read the full article
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