Reinsurance News
Declining reserves denting the earnings of global P&C players: Morgan Stanley
21st August 2017
Reserve releases in the P&C sector slowed in the second-quarter of 2017, a trend that is expected to persist and intensify through the remainder of the year, eating into companies' earnings, according to analysis from Morgan Stanley. Morgan Stanley analysts warned earlier in 2017 of a $2.5 billion P&C sector ... Read the full article
Sompo rolls out London Market systems integration platform
21st August 2017
Sompo International has rolled out a new platform for systems and data integration in the London Market, Guidewire PolicyCenter’s underwriting and policy management solution, the Global Commercial Accelerator. Guideware Software - a provider of software products to general insurers - was selected by Sompo as part of its global effort to ... Read the full article
Verisk acquires re/insurance software specialist Sequel
21st August 2017
Verisk Analytics said it is to acquire commercial and specialty insurance and reinsurance software specialists, in a deal expected to further expand Verisk's offerings and give the firm a stronger foothold in the London market. Verisk is set to acquire Sequel for £250 million from HgCapital and other Sequel investors. Sequel ... Read the full article
Compre acquires Norwegian insurer Gjensidige’s legacy portfolio
21st August 2017
Independent reinsurance legacy specialist Compre has announced the acquisition of a legacy portfolio from major Norwegian insurer Gjensidige Forsikring ASA for an undisclosed sum. The legacy portfolio is made up of U.S. asbestos, pollution and health hazard (APH) risks underwritten between 1983 and 1985. Its purchase by Compre was structured as a loss portfolio ... Read the full article
Assurant names Carey Roberts EVP, Chief Legal Officer & Corporate Secretary
21st August 2017
Assurant, Inc. has announced the appointment of Carey S. Roberts as Executive Vice President, Chief Legal Officer and Corporate Secretary, effective October 30th, 2017. Roberts joins the firm from Marsh & McLennan Companies, Inc., where she had held the position of deputy general counsel and corporate secretary since October 2014, with the addition ... Read the full article
Capsicum Re hires Steven Rance to lead new mortgage indemnity reinsurance unit
21st August 2017
Specialist reinsurance broker Capsicum Re has announced Steven Rance, former JLT Group executive vice president, as head of a new mortgage indemnity reinsurance business division, with effect from February 2018. Rance will report to Rupert Swallow, CEO of Capsicum Re, who welcomed Rance to his new role; “Capsicum Re is no longer ... Read the full article
Collaboration needed to address growing terror threat
21st August 2017
Australian Reinsurance Pool Corporation CEO Dr Chris Wallace highlighted the need for global collaboration and cooperation between the public-private sector to address the growing terrorism threat at the inaugural International Forum of Terrorism Risk Re Insurance Pools (IFTRIP*) Paris conference. “Terrorism is a global issue and the nature of threats is constantly ... Read the full article
Kemah Capital signs underwriting agreement with Berkshire Hathaway companies
21st August 2017
Specialty lines managing general agency (MGA) Kemah Capital has entered into an agreement with members of the Berkshire Hathaway group of re/insurance companies that will see it underwrite a portfolio of business for the firms. The underwriting agency agreement will allow Kemah Capital to write a varied portfolio on behalf of ... Read the full article
Liberty Specialty Markets names Jennifer Wilson as new underwriter
21st August 2017
Liberty Specialty Markets (LSM) part of Liberty Mutual Insurance Group, has announced the appointment of Jennifer Wilson as underwriter of its London Global Financial Risks team. Wilson joins LSM from a role as underwriter of political and credit trade risks with Fidelis. Her new underwriting role spans all areas of LSM’s Global ... Read the full article
Reinsurers pushed to mortgage business by soft market conditions: S&P
18th August 2017
Reinsurers are increasingly looking for respite from the gloom of softening property and casualty reinsurance markets and the U.S. mortgage reinsurance market is seen as one of the brighter spots. Rating agency Standard & Poor's said that as the mortgage credit cycle is holding strong and this area of reinsurance has ... Read the full article
Colony Specialty appoints Kelly Killimett to head of environmental business
18th August 2017
Colony Specialty, a member of Argo Group International Holdings, has named Kelly Killimett as new head of the firm's environmental business succeeding Marsh Duncan who will move into a role as head of digital business development. Killimett reports to Ron Vindivich, president, Argo Group U.S. Excess & Surplus Lines, Duncan will ... Read the full article
Athene President talks “important” Lincoln deal and benefit of offshore strategy
18th August 2017
President of Athene Holding, Bill Wheeler, has praised the company's "important" flow reinsurance deal with Lincoln Financial Group, underlining the benefits of having an offshore strategy in the market. Athene Holding announced in early August that it had finalised a flow reinsurance treaty with Lincoln Financial Group, and President of the ... Read the full article
Euler Hermes appoints two executives in Asia Pacific region
18th August 2017
Trade credit insurer Euler Hermes has made two key appointments in its Asia Pacific region naming Clemens Philippi as chief executive officer (CEO) of Euler Hermes ASEAN and Benoit Ganzmann as CEO of China. Philippi will be based in Singapore and assume responsibility for the firms activities in Indonesia, Malaysia, the Philippines, ... Read the full article
MS Amlin announces CFO succession, as Rash replaces Hextall
18th August 2017
Specialty London headquartered insurance and reinsurance group MS Amlin has announced the succession plan for its Chief Finance and Operations Officer, as Richard Hextall will step down at the end of September. Hextall, who has been with MS Amlin since 1999, will be succeeded in the role of CFO by Chris ... Read the full article
Kenny Hogg joins Arthur J. Gallagher as Scotland regional managing director
18th August 2017
Arthur J. Gallagher has appointed Kenny Hogg to regional managing director (RMD) for Scotland succeeding Paul Kerry who has been promoted to Scotland chairman. Jon Simpkin, area managing director for North and Scotland, UK retail, said; “Attracting the industry’s best talent is central to our strategy as we continue to build ... Read the full article
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