Reinsurance News
Risk Strategies names Scott Stamper MD of Atlass Insurance Group
14th February 2018
Insurance brokerage and risk management firm, Risk Strategies has announced the appointment of Scott Stamper as Managing Director (MD), tasked with running the daily operations of the firm as well as assisting with the growth of its recreational and commercial marine unit, Atlass Insurance Group. Atlass Insurance joined the Risk Strategies group in ... Read the full article
Swiss Re’s CatNet hazard data integrated into SpatialKey
14th February 2018
Catastrophe peril hazard data from leading reinsurance firm Swiss Re is to be made available to a wider range of re/insurers through a partnership with geospatial insurance data and analytics specialist SpatialKey. The partnership means that Swiss Re's catastrophe peril insights will be made available through SpatialKey’s proprietary underwriting solution, with ... Read the full article
No hard markets but 1/1 rate momentum expected to continue: AXIS CEO
13th February 2018
Albert Benchimol, the President and Chief Executive Officer (CEO) of insurer and reinsurer AXIS Capital Holdings Limited, isn't anticipating hard markets of the past but does expect rates in the reinsurance sector to improve throughout 2018. Global insurers and reinsurers are now reporting their fourth-quarter and full-year 2017 results, and during ... Read the full article
David Russo joins Ironshore from AIG as VP, Regional Exec, Mid-Atlantic Region
13th February 2018
Ironshore Inc. has announced the appointment of David Russo from AIG as Vice President (VP), Regional Executive of the Mid-Atlantic Region, based in Philadelphia. Russo takes over from Kevin Fee, who was recently named Chief Operating Officer (COO) of Ironshore Environmental, and will report to David Frediani, President of the firm's U.S. Field ... Read the full article
Ryan Specialty acquires Lodestar Marine P&I MGA from Tawa
13th February 2018
Chicago-based Ryan Specialty Group LLC (RSG) has announced that it's agreed to acquire Lodestar Marine Ltd. from Tawa Associates Ltd. for an undisclosed fee. Lodestar is a London domiciled managing general agent (MGA) focused on the protection & indemnity (P&I) fixed premium marine sector, and under the transaction will become part ... Read the full article
Swiss Re Corporate Solutions names Christine Springob to Head Sales North America
13th February 2018
Swiss Re Corporate Solutions, the direct, large commercial insurance division of global reinsurance giant Swiss Re, has named Christine Springob as its new Head Sales North America. The promotion is effective as of February 5th 2018 and in the new role, Springob will lead the development and execution of Swiss Re ... Read the full article
Munich Re utilises Starmind’s AI to transform knowledge management
13th February 2018
Global reinsurance giant Munich Re is working with Starmind to transform and improve the reinsurer's knowledge management through advanced technology and artificial intelligence (AI). Starmind's technology is designed to expand human ingenuity by applying neuroscientific principles to AI, and reinsurer Munich Re is looking to transform its knowledge management via a ... Read the full article
Euler Hermes announces Board of Management changes
13th February 2018
Euler Hermes Group has announced a number of changes to its Board of Management, including the appointment of a new Group Chief Financial Officer (CFO) and new Group Chief Operating Officer (COO). Chantal Schumacher has been appointed Group CFO as of today, and also as a member of the Group Board of ... Read the full article
PERILS puts storm Burglind (Eleanor) industry loss at €643mn
13th February 2018
Catastrophe loss data aggregator, PERILS AG, has provided an initial insured property loss estimate for Extratropical Cyclone Burglind, also known as Eleanor, of €643 million (US$781mn). The storm struck between the 2nd and 3rd of January, 2018, and caused significant ... Read the full article
Nexus acquires D&O and FI MGA, Apsley Specialty
13th February 2018
Specialty managing general agent (MGA) Nexus Group has completed the acquisition of registered and approved Lloyd's of London Coverholder, Apsley Specialty Limited. Apsley Specialty was launched in 2012 and has a focus on the asset management sector, particularly alternative asset managers, and has become a specialist in Directors & Officers and Financial Institutions ... Read the full article
PartnerRe and Farmers Edge team up to close agricultural insurance gap
13th February 2018
Global reinsurance firm PartnerRe has teamed up with agricultural technology and decision software specialists Farmers Edge in a multi-year partnership that aims to help insurers to close the agricultural insurance gap across all continents. The four-year agreement brings together precision farming technology and agricultural insurance in a deal that the pair ... Read the full article
iXledger and InsChain partner for peer-to-peer insurance in China
13th February 2018
London headquartered blockchain technology startup iXledger, which collaborates with reinsurer GenRe, and Chinese blockchain insurtech start-up InsChain are partnering to bring peer-to-peer insurance products to Chinese consumers. iXledger said that the partnership will enable it to expand its services into China and the region, enabling acceptance of iXledger’s Utility Token, IXT, ... Read the full article
Peak Re takes minority investment from Prudential Financial
13th February 2018
Hong Kong based reinsurer Peak Reinsurance Company Limited (Peak Re) said this morning that it has taken a minority investment from a subsidiary of U.S.-headquartered Prudential Financial, Inc. The transaction has been achieved through the issuance of new shares in Peak Re, with Prudential Financial taking 13.1% of the reinsurer as ... Read the full article
Sirius International Insurance enters $300 million credit facility
13th February 2018
Sirius International Insurance Group has announced that it's entered into a three-year, $300 million senior unsecured revolving credit facility through its subsidiary Sirius International Group. Sirius said that although there was no immediate drawdown under the facility at closing, the facility will provide access to loans for working capital and general ... Read the full article
M&A trend leans towards finding “parental protection”: A.M. Best
12th February 2018
Three years ago the market was rife with merger and acquisition (M&A) transactions aimed at scale and market footprint building, however, the trend now for M&As appears to be leaning toward finding a home in a larger organisation, according to A.M. Best's recent market report on the U.S. property/casualty space. In ... Read the full article
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