Reinsurance News
Pricing discipline needed in Indian re/insurance market: reports
6th June 2017
India's state-backed reinsurer, the General Insurance Corporation's (GIC Re) chairperson, Alice Vaidyan, highlighted the need for pricing discipline and a level playing field to achieve long-term sustainability in the re/insurance industry in India, in an interview with The Economic Times. The reinsurer, which benefits from India's policy of offering first-picks in ... Read the full article
Ed appoints Ian Wicks to non-marine reinsurance chairman
6th June 2017
Reinsurer and specialty broker Ed has bolstered its reinsurance division with the appointment of Ian Wicks as chairman of non-marine reinsurance, who joins from Willis Re. Wicks will take up his role with immediate effect, reporting to Kieran Angelini-Hurl, CEO of Ed’s reinsurance division. Commenting on the appointment, Angelini-Hurl said; “I am delighted to ... Read the full article
Minova sees operating profit skyrocket in 2016
6th June 2017
Minova - an insurance and reinsurance holding company with investments in re/insurance broker BMS and specialist underwriting group Pioneer has announced an outstanding revenue of £102.8 million in 2016 strong EBITDA growth to £17.4mn and successful refinancing. This marks the first time the firm’s revenues have exceeded the £100 million mark, ... Read the full article
Chief Risk Officers need to update skills for re/insurer’s success
6th June 2017
Chief Risk Officers (CROs) are "integral to the future success of insurance companies,” but need to develop a new set of strategic skills to match demands of the future, according to a joint report by Mazar, accounting and advisory services firm and risk technology research firm, Chartis Research, which found ... Read the full article
Hamilton Re sets up its first alternative capital structure
5th June 2017
Hamilton Insurance Group's Bermuda domiciled subsidiary, Hamilton Re, has announced the establishment of Turing Re Ltd., the company's first special purpose reinsurance vehicle. The vehicle, Turing Re Ltd., is the reinsurer's very first alternative reinsurance capital structure, and will provide collateralized reinsurance capacity for Hamilton Re's international reinsurance portfolio. Chief Executive Officer ... Read the full article
Adam Karkowsky named new EVP & CFO, AmTrust Financial Services
5th June 2017
Adam Karkowsky has been appointed Executive Vice President (EVP) and Chief Financial Officer (CFO) of AmTrust Financial Services, Inc., replacing Ronald Pipoly, Jr. Karkowsky joined AmTrust in 2011 and most recently served as EVP, Strategic Development and Mergers & Acquisitions. He will be based in the firm's New York office, and his appointment ... Read the full article
Al Zayani & Schanz appointed to Trust Re’s Board of Directors
5th June 2017
Trust Re - a life and non-life facultative and treaty business reinsurer - has appointed Fetooh Al Zayani and Dr. Kai-Uwe Schanz to a 3-year term as independent non-executive Directors. Fetooh is an industry veteran with 36 years of executive management, underwriting, and business development experience in regional and international re/insurance. She was also one ... Read the full article
Gary Geller appointed to Atradius Special Products head of underwriting
5th June 2017
Trade credit insurer, Atradius, has announced the appointment of Gary Geller to Head of Atradius Special Products Unit, London underwriting team. As an industry veteran, Geller brings over 30 years of experience in trade finance, commodity trading and management of commodity-related projects to the new role. He worked across New York, Paris ... Read the full article
Re/insurance experts set up InsurLab in Germany
5th June 2017
An InsurLab was set up last week in Cologne, Germany, to facilitate collaboration between InsurTech start-ups, re/insurers, and service providers, as part of a growing movement towards cooperation as re/insurers increasingly recognise a group effort is necessary to fully reap the benefits of the InsurTech innovation. The lab was established by ... Read the full article
JLT Re hires Tony Manzitto to expand U.S. Structured Products team
5th June 2017
Insurance and reinsurance broker JLT Re (North America) Inc. has further bolstered its Structured Products team with the addition of Tony Manzitto as Executive Vice President in Los Angeles, California. Manzitto is expected to join the reinsurance broker during June, 2017, and the new role will see him focus on the development ... Read the full article
LCI appoints Dominque Charpentier as its new Chairman
5th June 2017
The Lebanese Credit Insurer (LCI) recently announced the appointment of Dominque Charpentier as its new Chairman, at its 2017 Annual General Meeting (AGM). LCI was established in 2001 as a joint venture between Atradius and a group of local and regional insurers and private holding companies, as the first independent specialized credit insurance company in ... Read the full article
QBE North America & AmWINS launch national excess property programme
5th June 2017
QBE North America has formed a strategic programme alliance with AmWINS Special Risk Underwriters (SRU) - one of the largest independent wholesalers in the U.S. - to launch a national excess property programme. The excess property programme offers cover for both soft occupancy; habitational, hospitality, retail, and manufacturing - areas where QBE is a market ... Read the full article
Full impact of Ogden Rate on reinsurance pricing still to be seen: A.M. Best
5th June 2017
The total impact to reinsurance pricing from the increase of the UK's Ogden Rate, or the personal injury discount rate, has yet to be seen, with further reinsurance price rises expected at future renewals. Catherine Thomas, senior director at A.M. Best, said; "Companies have been affected to different degrees by the ... Read the full article
Re/insurers need proactive cyber development and marketing strategies: Inga Beale
5th June 2017
Speaking at Mexico's AMIS Insurance Conference, Lloyd's Inga Beale reiterated the urgency of getting aboard the cyber insurance market, which she said could triple in size to $7.5 billion by 2020. "I don’t think that, as a sector, we are doing enough to promote the benefits of cyber insurance and make ... Read the full article
Aiden Joo joins XL Catlin from Zurich Global as Senior Underwriter
2nd June 2017
XL Catlin has appointed Aiden H. Joo as Senior Underwriter in New York to expand its U.S. underwriting capabilities for Structured Risk Solutions. Joo joins from Zurich Global Corporate where he was an underwriter and deal architect, developing a variety of insurance solutions including integrated insurance programs, risk financing and alternative risk transfer programs ... Read the full article
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