Reinsurance News
Beazley appoints Santiago Jaramillo as Engineering Focus Group Leader
3rd August 2017
Beazley has announced Santiago Jaramillo as Engineering Focus Group Leader for the U.S. and Latin America. In his new role Jaramillo will manage the firm's building portfolio in the U.S., collaborating with the San Francisco and Atlanta builders' risk teams who will be reporting to him from 1st of August. Jaramillo, who ... Read the full article
Travelers elects Alan Schnitzer as new Board of Directors Chairman
2nd August 2017
Alan Schnitzer has been unanimously elected as the Travelers Companies Board of Directors' next Chairman, set to succeed John Dasburg, who is returning to a role as independent Lead Director. Dasburg, commented; “During this time of unprecedented change for the insurance industry, the Board believes that the company and its shareholders are ... Read the full article
Big data to transform consumer proposition through bespoke coverage
2nd August 2017
There are many ways big data and technology promise to revolutionise the re/insurance process and policies, but for the consumer, possibly one of the biggest transformations will come from re/insurers' ability to offer a product that’s tailor-made to individual use as technological advances increase data volume and analytics. As growing databases ... Read the full article
Greenlight Re CEO signals entry into reinsurance subscription markets
2nd August 2017
Simon Burton, Greenlight Capital Re, Ltd.'s new Chief Executive Officer (CEO), has discussed upcoming changes to the firm's underwriting approach and appetite, highlighting plans to move into the transactional reinsurance subscription markets in London, Bermuda and the U.S. The new strategy is a first for the hedge-fund style reinsurance company, and ... Read the full article
Berkshire Hathaway Specialty Insurance opens Dublin office, names P&C manager
2nd August 2017
Berkshire Hathaway Specialty Insurance Company (BHSI), a division of Warren Buffett's Berkshire Hathaway, has announced the launch of a new Dublin, Ireland office and the appointment of Cormac McNamara as the unit's Property & Casualty (P&C) Manager. McNamara joins the firm with 24 years of insurance industry experience across the UK and ... Read the full article
Alesco builds out energy team with four senior hires
2nd August 2017
Insurance and risk management brokerage, Alesco Risk Management Services (Alesco), has expanded its energy market capabilities with a number of senior hires in its energy division. Recently with broker Willis, David Hallows joins the firm in August and brings more than 30 years of experience to Alesco, and has been named as ... Read the full article
S&P skeptical on P&C reinsurers’ use of M&A to offset market challenges
2nd August 2017
S&P Global Ratings has set its outlook for P&C re/insurance M&A as neutral with a slight negative bias, while re/insurers often see M&As as a viable growth option, the agency remains skeptical as to how effective this strategy of upscaling to offset market challenges really is. As global property and casualty ... Read the full article
Lloyd’s of London sued over Kanye West tour
2nd August 2017
U.S. rapper Kanye West's touring company, Very Good Touring, Inc., is reportedly suing the specialist Lloyd's of London insurance and reinsurance marketplace for $10 million (roughly £7.6 million) over his cancelled tour last November after he was admitted to hospital, according to numerous industry reports. Reports claim the touring company is suing ... Read the full article
California Earthquake Authority demand for reinsurance grows as insurance sales boom
2nd August 2017
The California Earthquake Authority (CEA) has increased its capacity by over $15 billion after seeing a continued trend of major increases to earthquake insurance sales that began last year, when the CEA's policies in force grew by over seven times the 10 year average gain to 52,000. As the CEA ensures its sufficiently capitalised ... Read the full article
Guy Carpenter appoints CEO and Chairman for Asia Pacific region
2nd August 2017
Reinsurance brokerage Guy Carpenter has announced two senior promotions in the Asia Pacific region, naming Tony Gallagher as CEO of the Asia Pacific Region and Richard Jones as Chairman of the Region. Gallagher, who was most recently CEO of the Pacific Region at Guy Carpenter, takes on his new role as ... Read the full article
Greenlight Re strengthens board with investment specialist
1st August 2017
Cayman Islands headquartered property and casualty reinsurance company Greenlight Re has added a ninth board member, bringing it additional investment expertise and experience. Greenlight Re is of course no newcomer to the investment world, being backed by hedge fund manager David Einhorn and his Greenlight Capital fund, but with investment returns ... Read the full article
Brokers must educate SMEs on rising security threats: A.J. Gallagher
1st August 2017
A report commissioned by Arthur J. Gallagher (A. J. Gallagher) reveals how unprepared UK small and medium-sized enterprises (SMEs) are to manage and respond to rising security threats, calling on the broker community to improve awareness and education of the exposures. UK SMEs are becoming increasingly aware of security threats to ... Read the full article
Re/insurance needed to shield against U.S. infrastructure failure costs: Report
1st August 2017
U.S. electricity system outages caused by natural disasters drive economic losses of up to $55 billion annually, and these figures are set to grow as climate change causes more extreme weather events, spurring increased demand for innovative risk mitigation and transfer solutions, according to a report recently published by reinsurance giant, ... Read the full article
Clients to take more control of products & distribution: W.R. Berkley CEO
1st August 2017
The concerning yet still attractive reinsurance marketplace is going through unprecedented change supported by the rise of InsurTech, and the future of the industry will see customers take more control over the evolution of both products and distribution, according to Robert Berkley, President and Chief Executive Officer (CEO) of W.R. ... Read the full article
ArgoGlobal names Dominic Kirby managing director of Argo Managing Agency
1st August 2017
ArgoGlobal has announced Dominic Kirby as newly appointment Managing Director of Argo Managing Agency, set to replace David Harris who is transitioning into a new role as Head of Performance. Argo Group Chief Executive Officer (CEO), Mark Watson, said; "Dom has been a valuable member of the Ariel Re underwriting leadership ... Read the full article
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