Reinsurance News
Google, Amazon & Apple’s moves into healthcare could create opportunities
3rd April 2018
Google, Amazon, and Apple have all taken moves into the U.S. healthcare industry in recent months with a variety of tech-driven initiatives, and partnering with these new market entrants could provide re/insurers with new inroads into the market, according to GlobalData. Danielle Cripps, Life & Pensions Analyst at GlobalData, said; “the ... Read the full article
SCOR promotes Rousseau to Deputy CEO of Global P&C, reshuffles execs
29th March 2018
French reinsurance firm SCOR has made some senior appointments in its Global P&C division, the most prominent of which is the promotion of Laurent Rousseau to Deputy CEO of SCOR Global P&C. Rousseau will also join the reinsurer's Executive Committee from April 1st 2018 and additionally take on the role of ... Read the full article
Marsh names Sue Woolterton as Head of Specialties
29th March 2018
Marsh has appointed Sue Woolterton to the newly created position of Head of Specialities, to be based in the firm’s second largest UK office in Norwich. Woolterton, who has been with Marsh since 1987, will now be responsible for developing Marsh’s UK Specialties Division, which covers its marine, energy, aviation, construction, ... Read the full article
Artificial Intelligence risks may outweigh benefits, reports Allianz
29th March 2018
In a new report, Allianz Global Corporate & Specialty (AGCS), a division of global insurer Allianz, has claimed that the advantages offered by increasingly integrated Artificial Intelligence (AI) applications in the re/insurance industry may be outweighed by the potential threats they bring. AGCS claims that increased vulnerability to malicious cyber-attacks and ... Read the full article
Flood Re suspends premium price increases
29th March 2018
Flood Re, the UK's flood reinsurance facility, has announced that this year it will freeze the premium prices it charges to insurers when they cede policies to the scheme, instead of imposing its usual annual increase in premium thresholds. This is the first time Flood Re has suspended premiums increases, as ... Read the full article
The Institutes partners with International Insurance Society to create more robust platform
29th March 2018
Insurance and reinsurance education and research provider The Institutes has announced the formation of a strategic partnership with the International Insurance Society (IIS), a global forum for re/insurance industry stakeholders. The affiliation will benefit both parties, as it will allow The Institutes to more broadly distribute its designations, certifications, and courses, ... Read the full article
Aspen Re Chairman Boornazian to retire
29th March 2018
Bermudian insurer and reinsurer Aspen Insurance Holdings Limited has announced that Chairman of Aspen Re and Chief Executive Officer (CEO) of Aspen Re, Americas, Brian Boornazian, is to retire from the company, effective end of April, 2018. The company has revealed that Boornazian's role as Chairman of its global reinsurance operation and ... Read the full article
Beazley’s Dirk Froese elected to LMA Aviation Committee
29th March 2018
A recent Lloyd’s ballot has elected Dirk Froese, Head of Aviation at Beazley, to the Lloyd’s Market Association’s (LMA) Aviation Committee for a term of four years. Froese will join re-elected committee members Peter Wakefield, Head of Aviation at Chaucer, and Christopher Collins, Head of Aviation at Talbot, in providing a ... Read the full article
AEGIS London outperforms Lloyd’s 2017 market result by 15%
29th March 2018
Specialist insurer and reinsurer AEGIS London has reported a combined ratio of 99% for its Lloyd's Syndicate 1225 over 2017, which is 15% better than the overall results for the Lloyd’s of London market. AEGIS also saw gross written premiums (GWP) of £462 million for the year, a 23% increase from ... Read the full article
Integro completes merger agreement with Lloyd’s broker Tyser & Co
29th March 2018
Integro Insurance Brokers has announced the completion of an agreement to merge its UK wholesale and UK retail operations with specialist Lloyd's broker Tyser & Co (Tysers). The agreement will see Integro acquire 100% of Hawkes Bay Holdings (HBH), the privately-owned principal parent company of Tysers, upon receipt of regulatory approval. The transaction ... Read the full article
AIG appoints new Head of Marketing and Communications, General Insurance
29th March 2018
American International Group (AIG) has named Ed Dandridge as its new Head of Marketing and Communications, General Insurance. In his new role, Dandridge will support the development and implementation of General Insurance’s global marketing and communications strategy, and will report to Peter Zaffino, Chief Executive Officer (CEO), General Insurance. The appointment will ... Read the full article
PERILS releases final AU $1.74bn Cyclone Debbie loss estimate
29th March 2018
PERILS has released a final loss estimate of AU $1.74 billion (US $1.33bn) for Tropical Cyclone Debbie which struck the Australian states of Queensland and New South Wales from 28th March 2017 until early April. This loss estimate is up by AU $82 million from PERILS' third loss estimate of AU ... Read the full article
David Crozier to succeed Karen Barkley as President of Markel Canada
29th March 2018
Markel International has announced the appointment of David Crozier as President of Markel Canada, set to spearhead its markets and offices across the country and succeed Karen Barkley who is due to retire at the end of the year. Crozier will take up his position at the beginning of 2019 and ... Read the full article
XL Catlin and RedSeal launch risk analysis tool for cyber insurers
29th March 2018
Insurer and reinsurer XL Catlin and RedSeal have launched a risk analysis tool for cyber insurers with a dynamic measure of resilience to gauge risk and improve cybersecurity and insurance terms. The risk analysis objectively measures a network's resilience to help underwriters more thoroughly evaluate their clients’ risks over time, while ... Read the full article
The Hanover explores alternatives for Chaucer business, including possible sale
29th March 2018
The Hanover Insurance Group, Inc. said today that it is exploring "strategic alternatives" for its London-based Chaucer business is underway, which could include a possible sale. A "review of strategic alternatives" is currently being undertaken by the firm, as it looks at its options for the Chaucer international specialty underwriting business ... Read the full article
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