Reinsurance News
Suzanne Sandusky joins Everest Insurance’s Risk Management Group as VP
29th May 2018
Everest Re has announced that Suzanna Sandusky has joined Everest Insurance as a Vice President (VP) within its Risk Management Group, where she will oversee underwriting and provide flexible, customised primary casualty solutions in the large account marketplace. Sandusky joins from Oswald Companies, having worked as Market Leader for Global Accounts, ... Read the full article
Blockchain could allow developing countries to ‘leapfrog’ current tech: Fitch
29th May 2018
Fitch Ratings has suggested that blockchain technology could allow insurers and reinsurers in developing nations to make a faster technological leap than those in more established markets, as they can circumvent current operational systems. In its report, "Blockchain and Insurance - The Trust Machine," Fitch observed that many emerging markets and ... Read the full article
Ed announces professional and executive risk expansion into Jersey
29th May 2018
The Jersey Financial Services Commission has granted the global reinsurance, wholesale and speciality broker Ed with a license to carry out general insurance mediation business. The broker had previously announced their 2017 expansion of professional and executive risk offering in the Channel Islands following its successful application for a commercial insurance ... Read the full article
Castel eyes European MGA growth with opening of Dutch branch
29th May 2018
In a move which is expected to bolster plans for an expansion of operations in Europe post-Brexit, the club-style MGA formation platform Castel Underwriting Agencies Limited (Castel), has announced the opening of its first branch office in Amsterdam. Castel’s European office is set to provide a platform from which to launch ... Read the full article
Amazon spearheads $12mn funding campaign for India’s Acko InsurTech start-up
29th May 2018
Acko General Insurance, an online-only InsurTech start-up based in Mumbai, India, has raised an investment of $12 million led by Amazon, bringing the company’s total equity funding to nearly $42 million. This announcement confirms rumours from January 2018 that Amazon was on the verge of making its first investment in ... Read the full article
Generali establishes new Employee Benefits branch in Luxembourg
29th May 2018
Italian insurer Assicurazioni Generali S.p.A. has announced that it has established a new branch in Luxembourg, which will be dedicated to its business in the Employee Benefits (EB) sector. The new branch will allow Generali to better meet the needs of global companies and their employees by consolidating the Group’s position ... Read the full article
Bermuda re/insurance industry supports new infrastructure fund
29th May 2018
Bermuda’s insurance and reinsurance industry has galvanised to raise almost $100 million for the creation of the Bermuda Infrastructure Fund. The fund is the brainchild of AIG Chief Executive Officer (CEO) Brian Duperreault, supported by New Venture Holdings CEO Don Mackenzie and Arch Capital Group Chief Investment Officer (CIO), Preston Hutchings. ... Read the full article
Swiss insurers’ solid performance aided by underwriting discipline: S&P
29th May 2018
Swiss domiciled property and casualty (P/C) insurers continue to show underwriting discipline and cost efficiency, which in turn is driving solid performance with 2017 results showing continued strength, reports S&P Global Ratings. In an effort to increase their resilience to a challenging operating environment underlined by minimal organic growth opportunities, low ... Read the full article
RenRe Ventures invests in The Woodlands Financial Group
29th May 2018
Bermudian reinsurance firm RenaissanceRe has made an investment in Texas headquartered property & casualty insurance brokerage The Woodlands Financial Group. Founded in 2001, The Woodlands Financial Group (TWFG) operates across 22 states in the U.S., broking primary property and casualty products, largely personal lines but also selling small business and commercial ... Read the full article
Nephila Climate and Allianz close solar farm Proxy Revenue Swap deal
29th May 2018
Nephila Climate (NCx), the recently established weather and ESG-driven specialty division of Nephila Holdings, has completed the first solar farm Proxy Revenue Swap transaction in partnership with Allianz Global Corporate & Specialty SE. The parties successfully closed a first set of solar Proxy Revenue Swaps for the Susan River Solar ... Read the full article
Swiss Re ends SoftBank talks with no agreement
28th May 2018
Global reinsurance group Swiss Re has announced that it has ended discussions about a minority stake investment with Japanese technology & telecoms investor & conglomerate SoftBank. The pair have been in discussions about SoftBank acquiring a stake in Swiss Re since February. At first it was reported that SoftBank would look to ... Read the full article
Lagging mid-year renewals points to “permanently” damaged business model: KBW
25th May 2018
In meetings with insurance and reinsurance market participants in Bermuda, analysts at Keefe, Bruyette & Woods (KBW) heard that mid-year catastrophe reinsurance rate increases are lagging those seen at the Jan renewals, suggesting the old business model is "permanently" damaged. The majority of reinsurers KBW spoke with confirmed that mid-year reinsurance ... Read the full article
Peak Re appoints co-founder Stephen Roder as Independent Non-Exec Director
25th May 2018
Hong Kong-based Peak Reinsurance Company (Peak Re) has announced the appointment of Stephen Roder, one of the company’s Co-Founders, as an Independent Non-Executive Director (INED) effective May 2nd, 2018. Roder holds over 20 years’ experience in dealing with global companies and in-depth working experience across the Asia market and has a ... Read the full article
General Electric looks to sell failing insurance business
25th May 2018
General Electric Co (GE) has been working with investment bankers to explore ways to shed its struggling insurance business, amid shareholder lawsuits and an investigation by U.S regulators, according to sources at Reuters. In January, GE announced that it would take a $6.2 billion after-tax charge and set aside a further ... Read the full article
TigerRisk launches capital markets vehicle, Panthera Re
25th May 2018
TigerRisk Partners LLC's insurance-focused investment banking arm, TigerRisk Capital Markets & Advisory (TCMA), has established a new Bermuda-domiciled vehicle called Panthera Re, which provides its insurance and reinsurance company clients with access to the capital markets. The new vehicle facilitates access to third-party, or alternative reinsurance capital and insurance-linked securities (ILS) ... Read the full article
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