Reinsurance News
Hiscox CEO named Chair of London Market Group’s PPL
22nd March 2018
The Board of the London Market Group's Placing Platform Limited (PPL) has announced that Hiscox Chief Executive Officer (CEO), Bronek Masojada, has been appointed Chair, replacing outgoing Chair David Ledger. Commenting on his new appointment, Masojada said: "I look forward to becoming PPL Chair. David and all those involved in PPL have ... Read the full article
Life insurers face challenges in transitioning to “capital-light” products: S&P
22nd March 2018
European life insurers have been responding to challenges of persistently low-interest rates squeezing already tight margins and making it difficult to cover rising capital requirements from prudential regulation by rethinking their product offerings to less capital-intensive products, according to S&P. As insurers combat tough market conditions, they're shifting toward "capital-light" products, such ... Read the full article
Lloyd’s Chairman Carnegie-Brown highlights shift towards risk-based oversight
22nd March 2018
In an annual investor call last year, Lloyd's Chief Executive Officer (CEO), Inga Beale, reiterated Lloyd's efforts towards making market oversight increasingly risk based as well as a new approach adopted by account managers in which portfolio assessment identifies worse performing portfolios and syndicates. Now in a recent letter to the ... Read the full article
Pause for thought, but autonomous car fatality won’t hold back development
22nd March 2018
Following the news that an Uber operated autonomous, or self-driving, vehicle was involved in a fatal collision with a pedestrian, there could be a pause, as developers and insurers look to better understand how this happened, but it is unlikely to halt development of the technology, according to law firm ... Read the full article
Munich Re joins African energy initiative to re/insure political risks
21st March 2018
Munich Re is launching a new clean energy initiative in conjunction with the African Trade Insurance Agency (ATI) and the European Investment Bank (EIB), which will offer coverage against a range of political risks in sub-Saharan Africa, and is expected to unlock US $1.4 billion of investment. The initiative, called the ... Read the full article
Thomas Miller P&I announces changes to senior management
21st March 2018
Thomas Miller Holdings' subsidiary, Thomas Miller P&I, has announced a series of senior management changes, naming Chief Finance Officer (CFO) Andrew Taylor as the new Chief Executive Officer (CEO) to take over from current Chairman and CEO, Hugo Wynn-Williams, effective May 1st 2018. Wynn-Williams will retain his position as Chairman of ... Read the full article
Gallagher Bassett names Simon Pemberton as UK CEO
21st March 2018
Gallagher Bassett has named Simon Pemberton as UK Chief Executive Officer (CEO) set to replace retiring UK Managing Director Nick Bonser, with effect from April 1st 2018. Bonser plans to retire from the business after 15 years of service in June 2018, to ensure a smooth transition. Jon Winsbury, Executive Vice President ... Read the full article
Tokio Marine Kiln appoints Stuart Chamberlain to senior casualty underwriter
21st March 2018
Tokio Marine Kiln has appointed Stuart Chamberlain, who joins from QBE as senior casualty underwriter, set to report to Paul Woodward, Head of UK liability and Europe. Woodward said: "Stuart is a well-established casualty underwriter in the Manchester market. He is technically strong across a broad range of sectors and trades ... Read the full article
Paraline Group welcomes Paul Rayner as Active Underwriter
21st March 2018
The Paraline Group has announced that Paul Rayner is to join the group board and become Active Underwriter of Paraline Syndicate 4242 and SPA 6123. Rayner joins the Bermudan re/insurance industry investor from GC Securities, where, in his role as Managing Director, he oversaw initiatives like mergers and acquisitions (M&A), start-ups, ... Read the full article
Tech disruption of re/insurance could be a reality in 2018: Clyde & Co
21st March 2018
2018 could be the year where re/insurance industry disruption from technology giants becomes a reality as new entrants such as Amazon and Google threaten established models, heaping further pressure on traditional insurers, according to Clyde & Co's Insurance Growth Report. To remain relevant in coming years traditional players have to revamp ... Read the full article
Re/insurers “almost obliged” to develop covers that better meet clients’ needs : Jeworrek, Munich Re
21st March 2018
Munich Re’s Chairman of the Reinsurance Committee, Torsten Jeworrek, placed the onus on insurers and reinsurers to adapt product offerings to better suit client needs after 2017's catastrophe levels highlighted the extent of the global protection gap (the gap between insured and economic losses post-event). In 2017 economic losses from natural ... Read the full article
Liability insurers’ D&O rates set to decline further in 2018: Fitch
21st March 2018
Property/casualty insurers active in the directors & officers (D&O) liability market could have difficulty maintaining underwriting performance in 2018 as market pricing remains highly competitive, and claims' trends point to challenges ahead, according to Fitch Ratings. As a niche segment in the U.S. insurance market D&O insurance has seen a trend ... Read the full article
Alliant expands Energy and Marine expertise with new First Vice President
21st March 2018
Alliant Insurance Services has announced that Rose Calpin-Dewey has been appointed First Vice President of the firm’s Energy and Marine Group. Based in Alliant’s Houston office, Calpin-Dewey will be responsible for providing insurance and risk advisory services to the re/insurance broker’s U.S energy and marine clients. John Ludwig, Senior Managing Director at ... Read the full article
Doha Insurance Group to expand with London & Beirut reinsurance offices
21st March 2018
Doha Insurance Group (DIG) revealed plans to open representative offices in London and Beirut to underwrite reinsurance business including energy risks, life, and medical insurance, according to company chairman Sheikh Nawaf bin Nasser bin Khaled al-Thani, the Gulf Times reported. At the recent La Cigale Doha annual general meeting, Khaled ... Read the full article
XL Group tells brokers to expect continuity after AXA acquisition
21st March 2018
Bermudian insurance and reinsurance firm XL Group Ltd. has sent a letter to its reinsurance brokers, to explain that they should expect continuity in the way it operates and its trading after its acquisition by French insurance and investment giant AXA is completed. The letter, penned by Chief Executive of Reinsurance ... Read the full article
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