Reinsurance News
Jeremy Fox to join JLT Re from Aon Benfield as Asia-Pacific CEO
15th January 2018
JLT Re, the global reinsurance arm of re/insurance broker JLT Group, has announced that Jeremy Fox has been appointed Chief Executive Officer (CEO) of JLT Re's Asia-Pacific unit (APAC), and that he will also become a member of the Reinsurance Global Executive Committee. Most recently, Fox served as Chief Operating Officer ... Read the full article
Aon secured £900mn reinsurance protection for LV=/RGA transaction
15th January 2018
Global insurance and reinsurance brokerage, Aon, recently secured £900 million in reinsurance protection for London Victoria Friendly Society's (LV=) asset and longevity risk transaction. Reinsurance News discussed the £900 million deal between Reinsurance Group of America (RGA) and LV= when it was announced in December 2017, and Aon has now ... Read the full article
Rothesay Life appoints Naguib Kheraj to Board Chairman
15th January 2018
Rothesay Life has appointed Naguib Kheraj to Chairman of the Board set to succeed Ray King who will move into Kheraj's current board position as Non-Executive Director. Rothesay Life also announced that Stan Beckers and Terry Miller have joined the board as independent Non-Executive Directors and Glenn Earle and Dermot McDonogh have ... Read the full article
Trust Re adds Senior Treaty Underwriter to Cyprus office
15th January 2018
According to industry reports, reinsurer Trust Re has announced the appointment of Daniel Stanko as Senior Underwriter, Treaty, within its Cyprus office, reporting to the general manager of the Cyprus branch, Sinisa Lovrincevic. 1asig.ro reports that Stanko brings 16 years of insurance and reinsurance industry experience to the Bahrain-based reinsurer, ... Read the full article
Modest market hardening across global specialty lines at 1/1: Willis Re
15th January 2018
Across multiple global specialty lines, a modest hardening of rates is expected in 2018, however, new capacity has entered the market in anticipation of the hardening market and will thus reduce the impact on rate growth, according to Willis Re's viewpoint report on January renewals. In the global specialty markets signs of ... Read the full article
Argo renews reinsurance sidecar vehicle Harambee Re for 2018
15th January 2018
Specialty re/insurer Argo Group International has announced the renewal of its Harambee Re sidecar reinsurance vehicle for 2018. Launched in 2013, Argo said the sidecar continues the firm's "successful track record of building relationships with third-party capital providers to support the company’s growing insurance and reinsurance portfolios." Argo Group Chief Executive Officer ... Read the full article
Chubb announces key appointments to its Accident & Health senior leadership team
15th January 2018
Chubb has announced two key appointments to its Accident & Health senior leadership team, naming Veronique Brionne as Senior Vice President (SVP) of Accident & Health (A&H) for Continental Europe (CE) and Andrew Nisbet as SVP A&H UK & Ireland. In her Paris-based role, Veronique will assume responsibility for all of Chubb’s ... Read the full article
Davies Group to acquire R&Q unit for £20 million
15th January 2018
Randall & Quilter Investment Holdings (R&Q) has announced the sale of its Insurance Services and Captive Management Operations to consultancy and digital solutions provider Davies Group, at an agreed valuation of £20 million (US$28mn). Davies will pay a net cash consideration, after deducting net debt applicable to the businesses, of approximately £18.6 ... Read the full article
Willis appoints Alex Steele & Russell Nicholson to Guernsey Financial Institutions Practice
15th January 2018
Willis Towers Watson has announced the appointment of Alex Steele and Russell Nicholson to their Guernsey Financial Institutions practice. Steele and Nicholson will assume joint responsibility for Client Relationships in Guernsey, while Anthony Kay will undertake the same role in Jersey. Chris Jackson, Global Head of FINEX FI Middle Market commented on ... Read the full article
Investment risks and pandemics are the biggest threats to Swiss Re: CEO
15th January 2018
Investment related risks are the biggest threat to reinsurance firm Swiss Re's profitability, closely followed by the risks posed by major pandemic outbreaks, according to Christian Mumenthaler, Chief Executive Officer. In a recent interview with NZZ am Sonntag, the CEO of reinsurance giant Swiss Re explained that the ... Read the full article
Reinsurers warned over financial impact of corporate reputational loss
15th January 2018
Corporate reputational crises could have a massive financial impact in 2018, due to the potential for a market correction to expose firms that have suffered reputational losses but have remained artificially shielded by the umbrella of the recent stock market rise, according to research conducted by Steel City Re. A number ... Read the full article
Retro-reinsurance market to be hit with large portion of HIM losses: A.M. Best
12th January 2018
Due to the aggregation of losses from hurricanes Harvey, Irma, and Maria (HIM) the retro-reinsurance market is expected to cover much of the HIM losses, significantly impacting reinsurers earnings but falling short of a capital event, according to A.M. Best. Property/Casualty re/insurers with the biggest HIM reported net losses are; Lloyd's of ... Read the full article
GIG-Egypt renews reinsurance deal with Hannover Re
12th January 2018
Egypt’s Arab Misr Insurance Group (GIG) has renewed a one-year reinsurance deal with Hannover Re under the same conditions and retention rates of last year, the Amwalalghad reported. The Egyptian Life Takaful Company is the first established Takaful life insurer in the Egyptian market, and boasts a good business profile across Egypt's insurance market. Last ... Read the full article
Companies’ uptake of standalone cyber insurance to surge in 2018
12th January 2018
In 2018 uptake of standalone cyber insurance policies is expected to surge as companies respond to the growing cyber threat and regulators more strictly enforce and coordinate cybersecurity regulations, according to Aon's 2018 Cybersecurity Predictions report. As firms increasingly feel the heat of cyber attacks with reduced earnings, operational disruption and ... Read the full article
IRDAI reinsurance framework to continue protectionist policy but with exemptions
12th January 2018
The Insurance Regulatory and Development Authority of India (IRDAI) said in an exposure draft on reinsurance regulation that Indian reinsurers will continue to get order of preference for placing business, but the legislation will be waived for a number of major insurance lines. First preference is to be given to Indian reinsurers ... Read the full article
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