Reinsurance News
Willis Towers Watson names Patrick Murphy as Global Head of Cargo & Specie
10th January 2018
Willis Towers Watson has named Patrick Murphy, who joins from a role as Global Marine Practice Leader at Integro, as Global Head of Cargo and Specie within its Marine Corporate Risk and Broking Division. Murphy will lead client management, technical, placement and risk management specialists, supporting Willis Towers Watson marine clients in risk ... Read the full article
Munich Re’s Ergo sells legal insurance subsidiaries to Allianz
10th January 2018
German insurance and reinsurance group Munich Re has sold three of its ERGO Group operated legal insurance subsidiaries to Allianz Group. ERGO Group AG has sold its legal protection insurance subsidiary DAS Switzerland and the assets of DAS Luxembourg and Slovakia to Allianz, as it seeks to rationalise its primary insurance ... Read the full article
Aon names Edward Smerdon as Head of Legal and Technical
10th January 2018
Aon has named Edward Smerdon as Head of Legal and Technical for the Financial and Professional Services division of its London-based Global Broking Centre (GBC). Smerdon is a specialist in complex coverage, with an emphasis on financial lines insurance including directors & officers, financial institutions, and professional and employment practice liabilities. Commenting ... Read the full article
AIG shows appetite for large M&A deals: Reports
10th January 2018
Insurance giant American International Group (AIG) has reportedly regained its appetite for large mergers & acquisitions (M&A) deals, with a significant war chest of billions ready to put to work, since new CEO Brian Duperreault came on board. Bloomberg first reported that AIG had been in the running ... Read the full article
Coverys names Georgia Tsiakki as Chief Risk Officer
10th January 2018
Coverys newly acquired Lloyd's business, Coverys Managing Agency, has named Georgia Tsiakki as Chief Risk Officer, set to join later in 2018. Commenting on the appointment, Coverys Managing Agency, Chief Executive Officer, Robin McCoy, said; “I am delighted that an insurance professional of Georgia’s calibre has agreed to join us. “As part of ... Read the full article
Newline Group hires new Senior Underwriter for D&O liability
10th January 2018
Specialty insurer Newline Group has announced the appointment of Andrew Pecover as Senior Underwriter for the Directors & Officers Liability insurance solution. Pecover is based in London and reports to Newline Group's Chief Underwriting Officer (CUO), Stephen Gordon. He most recently served as a Financial Lines Class Underwriter at MS Amlin, and brings over ... Read the full article
Munich Re & easyJet develop business interruption cover for flight cancellation risks
9th January 2018
Reinsurance giant Munich Re and low-cost carrier airline easyJet have collaborated to create a new insurance product that is designed to provide business interruption style coverage to airlines when major flight cancellation issues occur. The comprehensive cover is being described as the first product to protect airlines against the costs of ... Read the full article
Hudson Insurance unit to use AIR Worldwide’s Fund Designation Service
9th January 2018
A Hudson Insurance Group unit, Hudson Crop, has selected AIR Worldwide's Fund Designation Service for optimisation of its crop portfolio risk management. The service provides fund designation alternatives to assist companies in choosing the best option for their risk-return target and profile and thus enhance stakeholder value under yield, price, and crop ... Read the full article
Blackstone Insurance Solutions launches with Blunt hired as CEO
9th January 2018
The former President of New York Life's Investments Group, Chris Blunt, has been named as a Senior Managing Director and Chief Executive Officer (CEO) of Blackstone Insurance Solutions, a newly created business segment of investment firm, Blackstone. The new division, Blackstone Insurance Solutions, has been created to deliver the firm's investment ... Read the full article
2017 was the costliest and warmest year on record for U.S. climate risk
9th January 2018
With 16 climate disasters each with losses at over $1 billion, total economic losses for U.S. climate disasters reached $306 billion, making 2017 both the costliest and warmest year on U.S. records, according to the U.S. Department of Commerce National Oceanic and Atmospheric Administration end of year recap. The western U.S. ... Read the full article
Willis names Louise Pennington large account leader, Corporate Risk & Broking
9th January 2018
Global insurance and reinsurance industry brokerage, Willis Towers Watson, has announced the appointment of Louise Pennington to a newly created role, as large account leader for its Corporate Risk and Broking segment. In her new role, Pennington will take responsibility for the firm's large account growth strategy and value proposition, and ... Read the full article
A.M. Best maintains stable outlook for personal lines segment
9th January 2018
A.M. Best has maintained its stable outlook for the personal lines segment as it expects companies to be able to effectively navigate challenging market dynamics, despite the high level of catastrophe losses in 2017. 2017 was a challenging time for personal lines players, as both auto and homeowners' lines suffered from ... Read the full article
Singapore Life acquires $4.5bn business portfolio from Zurich Life Singapore
9th January 2018
Singapore Life Pte. Ltd. is to acquire the business portfolio of Zurich Life Singapore, an agreement that sees the former take responsibility for all of Zurich Life Singapore's clients' policies, totalling roughly SGD6 billion (US$4.5 billion). The agreement represents coverage for life, critical illness, and disability benefits, and all policyholders that ... Read the full article
Richard Coulson named Chief Underwriting Officer of Fidelis
9th January 2018
Richard Coulson has been promoted to the role of Chief Underwriting Officer (CUO) of Fidelis Underwriting Limited (FUL), reporting to Chief Executive Officer (CEO) of FUL, Daniel Burrows, effective immediately. Coulson joined Fidelis in 2015 as Head of Specialty, before being appointed Director of FUL Underwriting in 2017. Before Fidelis, he worked ... Read the full article
Reinsurance price increases could be short-lived: Aon Benfield
9th January 2018
Despite pricing in the global reinsurance industry increasing at the January 1st renewals after third and fourth-quarter 2017 catastrophe events, reinsurance broker Aon Benfield expects this trend to be short-lived as capital continues to enter the market, and warns it could have a lasting impact on the reinsurance market. According to ... 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.
