Reinsurance News
Influx of alternative capital provides fresh opportunities for innovative reinsurers
16th February 2018
The latest A.M Best review of the U.S. property/casualty industry has highlighted how reinsurers are responding to disruptive innovation by shifting strategies to look for opportunities to benefit from, and collaborate with the influx of alternative capital into the market. Part of what has pressured this market so significantly is the ... Read the full article
Willis appoints Dominique Lebel to head up Americas ICT Life unit
16th February 2018
Willis Towers Watson has announced the appointment of Dominique Lebel to lead its Insurance Consulting and Technology (ICT) Life business for the Americas, effective from March 1st, 2018. In his new role, Lebel will head up the company’s consulting services and software solutions for life insurers in the Americas and will ... Read the full article
Munich Re validates LexisNexis Risk Classifier for mortality risk assessment
16th February 2018
Munich Re U.S. life has validated LexisNexis Risk Classifier as an effective predictor of mortality for the U.S. insurance-applicant population, after assessing its effectiveness in stratifying the mortality risk profile of a pool of insurance shoppers. LexisNexis Risk Classifier is a proprietary scoring algorithm that includes public records, credit information and motor ... Read the full article
SafeWaters grows marine offer with range of Aspen-backed products
16th February 2018
SafeWaters Underwriting Managers has expanded its marine offering to include Aspen Insurance-backed cargo, hull, machinery and marine liabilities cover. Jorge Pecci, President and Chief Executive Officer (CEO) of SafeWaters, said; “with the support of Pat Hickey and his team at Aspen, we are bringing the capacity and strong security of one ... Read the full article
Tom Milligan set to retire as Lancashire board Non-Executive Director
16th February 2018
Lancashire Holdings has announced that Tom Milligan will retire as a Non-Executive Director from the Lancashire board with effect from March 31st, 2018. After serving in the role for the last three years, Milligan will not stand for re-election at the 2018 annual general meeting. Peter Clarke, Lancashire’s Chairman, said; “I would ... Read the full article
Cyber risk management lags behind growing threat to business: Marsh, Microsoft
16th February 2018
Although the majority of senior executives view cyber as a top risk management priority, few organisations are confident in their ability to manage the risk of a cyber-attack, according to a survey by Marsh and Microsoft that highlighted ways in which risk management is falling behind in cyber risk mitigation ... Read the full article
Endeavour Insurance Services announces series of additions to North America team
16th February 2018
Delegated authority specialist and Lloyd’s broker Endeavour Insurance Services has announced the expansion of its USA and Canada appointments with a series of new appointments. Endeavour has named Victoria Cooch as Business Development and Support Handler, and Ben Ward as Trainee Broker set to join the U.S. team. In the Canadian team ... Read the full article
Bensinger of TigerRisk appointed to Baldwin & Lyons board
16th February 2018
Property and casualty insurance holding company Baldwin & Lyons, Inc. has appointed Steven J. Bensinger, of TigerRisk Partners, LLC, to the firms Board of Directors. Bensinger brings more than 40 years of experience in insurance and reinsurance at executive levels to Baldwin & Lyons. Currently, Bensinger is a Partner & Senior Advisor at ... Read the full article
Latin American protectionism could threaten re/insurance growth prospects: Carnegie-Brown
16th February 2018
Despite Latin American market conditions of low insurance penetration and strong economic growth being favourable for an upsurge of re/insurance demand, the region's protectionist stance could put a damper on efficient risk transfer and consequently hinder socio-economic development, Lloyd's chairman Carnegie-Brown warned at a recent Lloyd’s Meet the Market event in Miami. Carnegie-Brown ... Read the full article
Allianz results dented by 2017 catastrophes
16th February 2018
Insurance giant Allianz's fourth-quarter and full-year 2017 results have been dented by the impacts of major catastrophe events, including the California wildfires, hurricanes Harvey, Irma and Maria, as well as European windstorms and other events. Natural catastrophe losses rose to EUR 1.1 billion for the insurer in 2017, up from EUR ... Read the full article
LIIBA & EY urge brokers to be ready for Brexit
15th February 2018
The London and International Insurance Brokers’ Association (LIIBA) and EY have released a report to advise on the significant uncertainty that still surrounds regulation for intermediaries, and their authorisation process for placing and servicing European risk from the UK post-Brexit. Christopher Croft, Chief Executive Officer (CEO) of LIIBA, said that although ... Read the full article
U.S. property insurers’ hopes for double-digit rate hikes dampened: Willis
15th February 2018
U.S. property insurers' hopes for double-digit rate hikes on catastrophe-exposed insurance programmes following 2017’s record natural catastrophe-related losses could be dampened, as an abundance of both traditional and alternative capital continues to flood the market and weaken the potential for widespread market firming, according to Willis Towers Watson. In a U.S. property ... Read the full article
Allianz grows Euler Hermes shareholding to 92.43%
15th February 2018
Allianz Group has increased its shareholding in credit insurer Euler Hermes to 92.43% after acquiring an additional 29.43% of Euler Hermes' share capital in a total investment of about €1.5 billion. The insurance giant announced last year that it was looking to gain 100% ownership of Euler Hermes, and filed Read the full article
Tokio Marine Kiln forecasts losses, places Life Syndicate into run-off
15th February 2018
Tokio Marine Kiln has now announced the final results for its three non-aligned Lloyd's of London Syndicates for the 2015 year of account, as well as updated forecasts for 2016 and initial forecasts for 2017, in light of high catastrophe losses in the second-half of last year. Tokio Marine Kiln Syndicates ... Read the full article
Lloyd’s to launch technology Innovation Lab
15th February 2018
Lloyd's of London has announced that it will be launching an Innovation Lab later this year, as the market looks to develop advanced technology solutions to meet its rapidly changing needs. The Innovation Lab will allow Lloyd's to test new concepts, design advanced technology solutions to solve market issues and give ... Read the full article
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