Reinsurance News
London market must embrace tech to stay competitive, says Jon Hancock, Lloyd’s
17th April 2018
Jon Hancock, Performance Management Director at Lloyd’s of London, has asserted that re/insurers in the London market must do more to embrace innovative technology, and has outlined several key areas in which Lloyd’s is supporting tech integration. Speaking in an interview with Willis Towers Watson in the company's Energy Market Review, ... Read the full article
Munich Re Digital Partners appoints Angela Homm as Global CFO
17th April 2018
Munich Re Digital Partners, a subsidiary of global reinsurer Munich Re that invests in InsurTech start-ups, has appointed Angela Homm as Global Chief Financial Officer (CFO), and as Senior Director of Risk & Finance for its U.S team, effective April 23rd, 2018. As CFO, Homm will be responsible for Digital Partners' ... Read the full article
The Hanover Insurance Group estimates Q1 cat losses of up to $76mn
17th April 2018
The Hanover Insurance Group has announced that the estimated impact of catastrophe activity on its first quarter 2018 results is in the range of US $66 to $76 million before taxes. The Hanover announced the results in line with their recently implemented policy of releasing quarterly catastrophe loss estimates if they ... Read the full article
Monument Re acquires run-off portfolio from Ethias S.A.
17th April 2018
Monument Re has announced an agreement that will see it acquire a run-off portfolio of flexible premium retail life insurance contracts from Belgian insurer Ethias S.A., known as the First A Portfolio. The portfolio will be taken over by Laguna Life DAC, an Irish domiciled re/insurer and wholly owned subsidiary of ... Read the full article
Retroactive reinsurance huge opportunity for European players: Jefferies
17th April 2018
Jefferies Group has released a report that questions Berkshire Hathaway’s dominance of the retroactive reinsurance sector, suggesting that it represents a huge opportunity for European reinsurers to exploit. The report observes that reinsurers have been pushing for growth in traditional markets with highly competitive renewals set for April and June, but ... Read the full article
Sedgwick finalises purchase of Cunningham Lindsey
17th April 2018
Sedgwick Claims Management Services has completed its planned acquisition of Cunningham Lindsey, a global loss adjusting, claims management, and risk solutions firm. The new combined organisation, which includes the subsidiaries of Sedgwick, Vericlaim and Cunningham Lindsey, plans to operate globally under the Sedgwick brand name. The acquisition of Cunningham Lindsey and its ... Read the full article
Integrated tech contributes to broker sector growth: Moody’s
17th April 2018
Moody’s Investors Service has reported a stable 2018 sector outlook for re/insurance brokers, citing technological integration and investment as a contributing factor due to its capacity for promoting effectiveness and efficiency, and for reducing administrative and management costs. Although technology is already widely integrated in the sector, Moody’s predicts leading brokers ... Read the full article
PERILS increases windstorm Friederike loss estimate to €1.629bn
17th April 2018
PERILS AG has revealed its second loss estimate for European windstorm Friederike, placing damages at €1.629 billion (approximately US $2.0 billion), a slight increase from its original estimate of €1.465 billion ($1.8 billion). Windstorm Friederike, also known as David, caused significant damage as it swept through the British Isles, Belgium, ... Read the full article
European reinsurers prove resilient to 2017 catastrophe losses: Fitch
17th April 2018
Fitch Ratings has reported that the four major European reinsurers have proved convincingly resilient to the record-breaking catastrophe losses of 2017, with companies posting overall profits for the year and combined ratios expected to improve in 2018. With the exception of Hannover Re, the European reinsurers (SCOR, Munich Re & Swiss ... Read the full article
Global political risks becoming increasingly volatile: Aon
17th April 2018
Aon has reported that global political volatility is leading to increased political violence and political risk, with the likelihood of interstate conflict, terrorism, and general political and economic disruption all increasing. Aon’s 2018 Risk Maps report found that political violence risks are rising globally due to geopolitical tensions, a weakening of ... Read the full article
Willis Towers Watson partners with IBM Security on cyber services
17th April 2018
Willis Towers Watson has announced that it plans to enhance its global cybersecurity risk advisory services by integrating IBM Security’s suite of cyber features. Insurance and reinsurance broker Willis believes the collaboration will allow its clients to more holistically assess cyber threats, which will facilitate more effective risk transfer and overall ... Read the full article
Markel reorganises excess casualty leadership team
17th April 2018
Markel Corporation has reorganised the leadership structure of its excess casualty team, with both Matt Mullen and Colin Shaw, Managing Directors, Casualty, reporting directly to Alan Rodrigues, Executive Underwriting Officer, Casualty, who oversees the underwriting unit’s teams in the U.S, Bermuda, Dublin, and London. At the same time, Markel has announced that ... Read the full article
Reinsurance demand will rise as terror risk landscape shifts: A.M. Best
16th April 2018
In a recent special report, A.M. Best has predicted that insurers will increasingly rely on reinsurance as the nature of terrorism changes and expands, and as the future of federal backstops become uncertain. In recent years, the nature of high-profile attacks has shifted from property damage to ‘lone wolf’ attacks designed ... Read the full article
AXIS establishes Cyber Center of Excellence
16th April 2018
AXIS Capital Holdings Limited has announced the launch of the AXIS Cyber Center of Excellence, a project which aims to develop products and solutions for mitigating cyber threats associated with companies’ tangible and intangible assets. Led by Dan Trueman, Global Head of Cyber at AXIS, the new center will address the ... Read the full article
Gen Re partners with tech company Thrive on mental health outcomes
16th April 2018
Gen Re has announced plans to collaborate with Thrive, a company that develops software for the prevention, screening and self-management of mental health conditions, to promote better mental health outcomes for insurance and reinsurance customers. Working together, Gen Re will help to deliver Thrive’s digital solutions to global life and health ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
