Reinsurance News
Grenfell Tower fire insurance loss estimated at up to £1 billion
22nd June 2017
Media reports in the UK now suggest that the tragic fire in the Grenfell Tower apartment building in London’s Royal Borough of Kensington and Chelsea, could lead to an insurance industry loss of as much as £1 billion. The Times newspaper first reported that the Grenfell Tower fire could cost anywhere ... Read the full article
Deutsche Bank hires Meir Lewis as MD & Head of Insurance Investment Banking
22nd June 2017
Deutsche Bank has hired Meir Lewis from Morgan Stanley as a Managing Director and Head of Insurance Investment Banking. Prior to his appointment Lewis served Morgan Stanley's North America Insurance sector providing investment banking coverage that focused on large-cap P&C carriers, specialty mid-cap companies, and life and reinsurance clients. Lewis will be based ... Read the full article
SCOR Global Life Australia hires chief underwriter & chief medical officer
22nd June 2017
SCOR Global Life Australia has appointed Debra Pitcher as chief underwriter and Dr John Cummins as chief medical officer as it builds its team to expand local operations, the Financial Standard reported. Pitcher will assume responsibility for the Australia and New Zealand life reinsurance underwriting strategy and focus on developing client solutions. She ... Read the full article
Andy Marcell named President of Aon Benfield
22nd June 2017
Andy Marcell has been promoted to the position of President at global reinsurance intermediary Aon Benfield, reporting directly to Chief Executive Officer Eric Andersen. Marcell joined Aon Benfield in 2015, becoming the Head of Strategy and working on ways to grow business coming through the broker's existing client base, as well ... Read the full article
Chaucer gets final approval for establishment of Dublin re/insurance branch
22nd June 2017
Specialist insurance and reinsurance group, Chaucer, has announced that it's received final approval from the Central Bank of Ireland to launch a Dublin-based entity to write global specialty insurance and reinsurance business. The new company will trade under the name Chaucer Dublin, and is likely another response to the UK's vote to ... Read the full article
AMP reported near to life reinsurance deal with China Life, Munich Re, Hannover Re, others
21st June 2017
According to a report in the Australian media, financial services firm AMP is nearing completion of another reinsurance transaction to free up capital, with China Life, Munich Re and Hannover Re all named as potential parties to the deal. The Australian Financial Review (AFR) reports that AMP may be ... Read the full article
RGA Re backs first European digital life insurance solution from Getsurance
21st June 2017
Reinsurance Group of America (RGA) has backed a new digital life insurance solution launched by German InsurTech startup, Getsurance, which aims to bring life insurance into the 21st century. The launch marks the first time a European digital life insurance product has been developed, and Getsurance created the solution in collaboration ... Read the full article
MS Amlin names Björn Gehrcken Lead Class Underwriter, Marine & Aviation, Hamburg
21st June 2017
MS Amlin recently announced the appointment of Björn Gehrcken as Lead Class Underwriter of Marine & Aviation, based in the company's Hamburg, Germany, office. Gehrcken joined the firm on April 1st, 2017, and brings more than fourteen years of insurance industry and business law experience to the role. In his new role Gehrcken will ... Read the full article
Robert Hartman promoted to COO of AXIS Insurance
21st June 2017
The insurance segment of re/insurance specialist AXIS Capital Holdings Ltd., has promoted Robert Hartman to be its new Chief Operating Officer, effective July 1st 2017. Hartman is currently a Senior Vice President, Business Development at AXIS Insurance. He will take over the COO role following the recent promotion of the ... Read the full article
Universal gets greenlight for New York underwriting operations
21st June 2017
The New York State Department of Financial Services has given Universal Insurance Holdings approval to begin underwriting property insurance in New York through its wholly-owned subsidiary Universal Property & Casualty Insurance Company (UPCIC). Universal Insurance Holdings Chairman and Chief Executive Officer Sean P. Downes said this marks an important step in ... Read the full article
Markel CATCo CEO Tony Belisle extends contract to 2020
21st June 2017
Markel CATCo Investment Management Ltd. Chief Executive Officer (CEO) Tony Belisle will be extending his contract with the firm to the 31st December 2020 after which he'll transition to an indefinite rolling annual basis contract. Belisle, whose original contract would have expired by 31st December 2018, commented; "I am proud of ... Read the full article
Vibe targets re/insurance entrepreneurs with MGA incubator launch
21st June 2017
The Vibe group of insurance and reinsurance focused service providers and companies has launched an MGA incubation platform, as it targets helping re/insurance entrepreneurs to more easily enter the market. Vibe MGA Management Ltd. (Vibe MM) aims to become an independent MGA incubator offering a supportive environment to help insurance entrepreneurs ... Read the full article
Willis Towers Watson appoints Gavin Hill to Risk Consulting & Software Senior Consultant
21st June 2017
Willis Towers Watson has announced the appointment of Gavin Hill as Senior Consultant of its Risk Consulting & Software business. Hill joins Willis from a role as Senior Technical Specialist at the Prudential Regulatory Authority (PRA) for the Bank of England where he played a leading role in the PRA’s supervisory team, developing extensive ... Read the full article
Reinsurance broking veteran O’Halleran joins InsurTech VC’s board
21st June 2017
Michael O'Halleran, a reinsurance broking industry veteran and former chairman of Aon Benfield, has joined the board of advisors of Insurtech focused venture capital (VC) fund ManchesterStory. O'Halleran is joining the ManchesterStory Group, a venture investing specialist in insurance related financial technology (fintech) and healthcare tech, as a special advisor and ... Read the full article
QBE warns on emerging market claims, LatAm legacy losses
21st June 2017
Australian insurance group QBE has warned the market that it anticipated a loss in its Emerging Markets unit, due to the impact of "significantly higher than expected claims activity during the first five months of the year." QBE said that it now expects its Emerging Markets division will report a combined ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
