Reinsurance News
Liberty Mutual announces Jessica Dekermanji as CUO, Dedicated Energy Vertical
25th May 2017
Liberty Mutual has announced the appointment of Jessica Dekermanji to National Insurance Specialty Energy unit Senior Vice President (SVP) and Chief Underwriting Officer (CUO). In her new role, Dekermanji will head up a team focused on growing the firm's energy product solutions and integrating new technologies to improve clients' cost and efficiency in ... Read the full article
XL Catlin promotes Rob McAdams to Chief Underwriting Officer, Global Marine
25th May 2017
Insurer and reinsurer XL Catlin has announced the promotion of Rob McAdams as Chief Underwriting Officer (CUO) for its Global Marine, effective immediately. McAdams has 20 years of industry experience and was previously UK/Ireland Marine Leader at the firm. Prior to joining legacy XL he worked for Reliance National in New York, and ... Read the full article
Allianz AGCS promotes Hansen to lead global aviation
25th May 2017
Allianz Global Corporate & Specialty (AGCS), the corporate focused division of insurance and reinsurance giant Allianz, has promoted Mike Hansen to be its new Global Head of Aviation, effective immediately. Hansen will succeed Henning Haagen who has managed AGCS’s aviation business for five years. Haagen was appointed Northeast Zone Executive for ... Read the full article
ProAssurance puts $200m into Dale Syndicate 1729
25th May 2017
ProAssurance Corporation has expanded its commitment to Lloyd's of London insurance and reinsurance underwriting group Dale Underwriting Partners, adding $200 million to its capital commitment to Syndicate 1729, through to the 2022 year of account. Duncan Dale chief executive, Dale Underwriting Partners, commented on the capital injection; "ProAssurance has been keen ... Read the full article
A.M. Best sees brighter prospects for AIG under Brian Duperreault
25th May 2017
Following the recent announcement from U.S. insurance giant American International Group (AIG) that it was making Brian Duperreault its new President and Chief Executive Officer (CEO), its clear that rating agency A.M. Best sees a brighter future for the insurer. A.M. Best had placed the credit ratings of AIG under review ... Read the full article
Sendai Framework’s targets based on too little data: RMS
24th May 2017
RMS Catastrophe Risk Expert, Dr. Robert Muir-Wood, has spoken out against the short-term metrics used to measure progress towards the Sendai Framework for Disaster Risk Reduction 2015-2030, warning countries could fall short in their risk mitigation efforts if they don't have proper tools to assess progress and accurately measure risks. The Sendai Framework ... Read the full article
Colorado experiences costliest catastrophe on record
24th May 2017
The Rocky Mountain Insurance Information Association has provided a preliminary insurance industry loss estimate of $1.4 billion for the large hailstorm that struck Colorado on the 8th May, 2017. The event is set to be the most costly catastrophe event ever recorded in the state, after surpassing the $845.5 million loss ... Read the full article
Tower to pass more NZ catastrophe & weather losses to reinsurers
24th May 2017
Tower Insurance, the New Zealand insurer that is in the process of selling itself, has reported that loss creep due to the 2010 and 2011 Canterbury earthquakes, plus impacts from the Tasman Tempest storm, the Kaikoura earthquakes and recent storm events will result in further reinsurance claims being made. Tower ... Read the full article
Russell Fisher to lead Ironshore’s London Political Risk & Trade Credit business
24th May 2017
Bermuda domiciled insurance and reinsurance holding company, Ironshore Inc., has hired Russell Fisher as Vice President (VP) of its Political Risk and Trade Credit unit to underwrite European business, the company has announced. Fisher will be based in the firm's London office and will report to Don Asadorian, Senior Vice President ... Read the full article
Berkshire Hathaway’s Nico drives $2.4bn net loss for group of U.S. reinsurers
24th May 2017
Analysis from the Reinsurance Association of America (RAA) reveals that a group 18 U.S. reinsurers fell to a net income loss of $2.4 billion in the first-quarter of 2017, driven largely by National Indemnity Company (Nico) recording a net income loss as its combined ratio surpassed 100% coupled with over $5.8 ... Read the full article
1347 Property Insurance Holdings appoints Dan Case to Chief Operating Officer
24th May 2017
1347 Property Insurance Holdings has appointed insurance and reinsurance veteran and previous Executive Vice President at BMS Re, Dan Case, to Chief Operating Officer. Case will be responsible for product strategies, underwriting, and sales and distribution, in addition to overseeing the day-to-day operations of the specialty insurer. Case brings 17 years of ... Read the full article
Vibhu Sharma appointed CFO and Treasurer of Mutual of Omaha
24th May 2017
Mutual of Omaha has named Vibhu R. Sharma as Executive Vice President (EVP), Chief Financial Officer (CFO) and Treasurer, replacing David A. Diamond who is leaving the firm after almost twelve years. Sharma joins the firm on June 26th 2017 and will work closely with Diamond, who leaves the firm on July 31st, 2017, ... Read the full article
Swiss Re Corporate Solutions names new CEO’s of EMEA & Asia Pacific
24th May 2017
Swiss Re Corporate Solutions, the commercial insurance arm of global reinsurance player Swiss Re, has named two new regional Chief Executive Officers (CEO), Fred Kleiterp as CEO Europe, Middle East, Africa (EMEA) and Jonathan Rake as CEO Asia Pacific. Kleiterp currently holds the role of CEO Asia Pacific, Swiss Re Corporate ... Read the full article
Scottish Re to wind up, sell assets
24th May 2017
Life reinsurance and annuities specialist Scottish Re Group, which has been in run-off since 2008, has announced that it is to voluntarily wind up and that it may look to sell off some of its key assets. Scottish Re began voluntary provisional winding up proceedings in Bermuda (where the reinsurance group ... Read the full article
Microinsurance: Should You Rely on Regulation to Drive Distribution?
23rd May 2017
‘Compulsory’ is perhaps the most tempting potential characteristic of any insurance business model. It nods to the prospect of complete market coverage. Total. One hundred percent. The need to attract customers becomes unnecessary—the regulation does that for you! And you can begin to imagine a wide range of operational alternatives ... Read the full article
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