Reinsurance News
Ogden rate & market innovation: UK Economic Secretary Steven Barclay
28th June 2017
The UK Economic Secretary Steven Barclay said yesterday in a speech at the Association of British Insurers conference, the government is consulting on how to set the Ogden rate for England and Wales, to ensure a "better and fairer system for claimants and defendants." Barclay said; "We are currently considering the ... Read the full article
RenRe co-founder Currie appointed to Executive Chairman of Ascot Group
28th June 2017
Bermuda-based Ascot Group Limited (AGL) has announced Neill Currie's appointment to Executive Chairman, with effect from 21st June. In his role as Executive Chairman, Currie will work with AGL’s management and board of directors to grow its operations and capabilities. Prior to his appointment, Currie was co-founder and CEO of RenaissanceRe Holdings ... Read the full article
Antares promotes three to Lloyd’s managing agency board
28th June 2017
Antares, the Qatar Insurance Company owned Lloyd's of London managing agency, has announced some promotions and the appointment of three employees as new board members. The appointments have been made to "meet the evolving needs of the managing agency and promote internal talent," the company said. David Hobbs has been promoted to ... Read the full article
Innovative risk distributors as winners in the tech-age: John Doyle, Marsh
28th June 2017
Speaking at the MMC Young Professionals Forum, President of Marsh LLC, John Doyle, highlighted distributors of risk as winners of the tech-driven future saying that as the industry faces disruption middle market distribution will make gains as it "continues to consolidate." Doyle called attention to data and distribution as major drivers of change ... Read the full article
Munich Re partners with Community Association Underwriters of America
28th June 2017
Reinsurance giant Munich Re is partnering through its U.S. Specialty Markets branch with the Community Association Underwriters of America (CAU), a managing general agency and division of Alliant Specialty Insurance Services. From July, Munich Re's US-affiliated carriers will insure CAU’s existing business and also offer its client base a number of ... Read the full article
DWF appoints Antony Woodhouse to partner of its city insurance team
28th June 2017
International legal business DWF LLP has appointed Antony Woodhouse, joining from Gowling WLG with a specialisation in international and cross-border disputes, to partner of its City insurance team. Woodhouse boasts extensive experience as an advisor for re/insurers, Lloyd's syndicates and intermediaries in litigation, mediations and arbitration as well as Bermuda Form matters. His ... Read the full article
Ed hires James Blacker as MD property and casualty from AJG
28th June 2017
Reinsurance brokerage Ed has announced the hiring of James Blacker from rival Arthur J Gallagher, who will join the firm as managing director of its property and casualty P&C division. Blacker will begin in the role in December and will report to Chris Bonard, CEO of Ed Specialty. He has more than ... Read the full article
Reputational risk from cyber “kills modern businesses” – Inga Beale, Lloyd’s
28th June 2017
Inga Beale the Chief Executive of the Lloyd's of London insurance and reinsurance market has warned today that it is reputational risks and fallout from a cyber breach that "kills modern businesses." With the recent WannaCry ransomware attacks, and the ongoing impacts of Petya or PetrWrap which is a current attack, ... Read the full article
Solvency II disclosures show EU captives generally strong: A.M. Best
28th June 2017
According to rating agency A.M. Best, the Solvency II disclosures published by European captive insurance companies show that the captives in the region are generally healthy and strong. A.M. Best analysed the Solvency and Financial Condition Reports (SFCR) published by its rated European captives and has also met with captive managers ... Read the full article
China safeguards its green energy revolution with index insurance: Swiss Re
28th June 2017
Along with wind and sun, China has harnessed the power of insurance to catalyse its clean energy revolution, after having successfully pioneered government led re/insurance partnerships to safe-guard regional development with an index insurance scheme that makes a post-disaster payout to local government. China is the world's largest producer of renewable energy ... Read the full article
Moody’s upgrades outlook to stable for UK life re/insurers
28th June 2017
Moody's Investors Service has changed the outlook for the UK insurance and reinsurance life industry from negative to stable to include predictions of an expected "moderate and manageable" Brexit impact, in a report released recently. Dominic Simpson, Vice President Senior Credit Officer at Moody's, said the stable outlook is primarily a reflection ... Read the full article
European reinsurers U.S. hurricane exposure up by around 5%: Deutsche Bank
27th June 2017
On the back of a stronger USD and rising U.S. premium levels, European reinsurers U.S. hurricane exposure is expected to be up somewhere around 5%, with Swiss Re having the highest exposure, according to analysis by Deutsche Bank. The 2017 Atlantic hurricane season is expected to experience an average or above-average ... Read the full article
Neon reinforces underwriting team with new appointment and promotion
27th June 2017
Insurance and reinsurance specialist Neon has announced the appointment of Annabel Fell-Clark as Underwriting Manager and the promotion of Andrew Dougall to Deputy Active Underwriter. Fell-Clark will oversee underwriting governance, bringing over two decades of insurance experience to the role. She gained previous leadership experience as CEO of AXA ART, where she ... Read the full article
Cape Analytics expands property data services across Southeastern coastal states
27th June 2017
Artificial intelligence and machine learning company Cape Analytics has expanded its services with the addition of bespoke geospatial property data analytics to support insurance carriers across the Southeastern seaboard states. The firm now offers advanced property data analytics services to an additional eight coastal states; Texas, Louisiana, Florida, Mississippi, Alabama, Georgia, South ... Read the full article
Dentons appoints former NAIC president John Huff to Insurance Regulatory practice partner
27th June 2017
Global law firm Dentons has appointed former president of the National Association of Insurance Commissioners, (NAIC), John Huff, as a partner in the Insurance Regulatory practice. Most recently Huff served as Director of the Missouri Department of Insurance - where he steered one of the largest global insurance markets through the financial ... Read the full article
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