Reinsurance News
CEO in-waiting Booth to depart Randall & Quilter
8th January 2018
Non-life legacy and run-off acquisition and management, programme services and investments specialist Randall & Quilter Investment Holdings Ltd. has announced that its CEO in-waiting Tom Booth is departing the company. Randall & Quilter had announced back in October that Booth, the current Chief Financial Officer of the firm, was expected to ... Read the full article
FEMA secures $1.46 billion of flood reinsurance for 2018
5th January 2018
The U.S. Federal Emergency Management Agency (FEMA) has increased the size of its flood reinsurance program for 2018, securing $1.46 billion of coverage for the National Flood Insurance Program (NFIP). The 2018 NFIP reinsurance program has been placed with 28 private reinsurers and will provide the NFIP with coverage across two ... Read the full article
Everest Re appoints Jonathan Zaffino President and CEO of Everest Insurance
5th January 2018
Bermuda-based reinsurer Everest Re Group, Ltd. has announced the appointment of Jonathan M. Zaffino as President and Chief Executive Officer (CEO) of Everest Insurance Division, effective immediately. Zaffino joined Everest Re in 2015 and most recently served as President of the North America Insurance Division. In his new role as President and CEO ... Read the full article
World Bank steps up efforts to close protection gap with new Global Partnership
5th January 2018
A new report from the World Bank Group highlights the benefits of catastrophe risk pools, and outlines the basis for a global partnership that brings together relevant parties from both developed and emerging regions, the public sector, and the private insurance and reinsurance markets. The briefing note outlines the basis for ... Read the full article
Pioneer expands Financial Institutions division with new underwriter hire
5th January 2018
Pioneer Underwriters has announced a new underwriter hire to help the firm expand its Financial Institutions division, appointing Marie-Ange Rosnet who was previously with Chubb. Rosnet will be based at the Pioneer Underwriters London office and will report directly to Richard Coello, Head of Financial Institutions and Transactional Risks. Rosnet has more ... Read the full article
Aflac Incorporated announces two senior promotions
5th January 2018
As part of its ongoing U.S. Operations strategy, Aflac Incorporated has announced two new senior appointments, including the promotion of Virgil R. Miller to President of Aflac Group Insurance and Executive Vice President (EVP), Chief Operating Officer (COO), Aflac U.S. In his new role, Miller will take responsibility for the strategic leadership and ... Read the full article
Swiss Re appoints new Head of Reinsurance for Brazil and the Southern Cone
5th January 2018
Global reinsurance giant Swiss Re has announced the appointment of Mathias Jungen as Head of Reinsurance for Brazil and the Southern Cone, and that he will act as President of Swiss Re Brasil Resseguros S.A., succeeding Margo Black. Jungen joined Swiss Re in 2006 and has held a number of roles ... Read the full article
A.M. Best revises commercial lines outlook to stable from negative
5th January 2018
International financial services ratings agency, A.M. Best, has revised its outlook for the commercial lines segment to stable from negative, as a result of an embedded change in the sophistication of both the sector's underwriting infrastructure and pricing. Despite the pricing environment remaining challenging and other commercial lines headwinds persisting, the ... Read the full article
CLARA raises $11.5mn Series A funding for AI insurtech claims solutions
5th January 2018
Artificial intelligence (AI) and data science company, CLARA Analytics, has announced a $11.5 million Series A funding round led by OAK HC/FT, a venture growth-equity fund investing in Healthcare Information & Services and Financial Services Technology. CLARA builds AI-based solutions that are focused on claims operations for both the property & casualty and ... Read the full article
Damon Vocke joins the Duane Morris insurance practice
5th January 2018
Damon Vocke, formerly the President of General Re Corporation and General Counsel, is to join the Duane Morris insurance practice, the global law firm has announced. Most recently, Vocke led his own firm, Vocke Law Group, and along with partner Ronald Lepinskas and special counsel Mark Holton from the Vocke company, he joins the Duane ... Read the full article
Soft market prevails at 1/1 but uncertainty over final Q3 fallout remains: David Flandro
5th January 2018
Commenting on the January 1st renewals JLT Re's Global Head of Analytics, David Flandro, said the market continues to be driven by the supply of reinsurance capital with an abundance of both traditional and alternative capital rushing in to fill the massive Q3 insured losses, but uncertainty over the final ... Read the full article
Beazley appoints underwriter within new U.S. marine platform
5th January 2018
Beazley has announced the appointment of John Moy has U.S. marine underwriter within its recently launched U.S. marine platform, reporting to Head of U.S. marine at Beazley, Steve Vivian. In his new role Moy will be responsible for underwriting and building the firm's U.S. hull, protection and indemnity (P&I) and ... Read the full article
Largest industrial insurance placement completed in India
4th January 2018
India's state-run reinsurer, General Insurance Corp of India (GIC Re), has entered into a reinsurance agreement with Reliance Industries, under which GIC Re will provide reinsurance support to the organisations refinery and petrochemical plants at Jamnagar and Hazira in Gujarat, according to industry reports. There seems to be some confusion about the ... Read the full article
PartnerRe announces new leaders of P&C and Specialty Lines
4th January 2018
Bermuda-based reinsurer PartnerRe has announced new divisional leaders as a result of the retirement of Tad Walker, previously Chief Executive Officer (CEO) of Property & Casualty (P&C). Following the retirement of Walker, Charles Goldie, formerly CEO of Specialty Lines at PartnerRe, has been named as the new CEO of Property & ... Read the full article
Allstate promotes three as President prepares to retire
4th January 2018
In preparation for the retirement of The Allstate Corporation President, Matt Winter, the company has announced a number of senior leadership changes. The changes include the promotion of Steve Shebik to Vice Chairman of Allstate, a role that sees him oversee Allstate Life and Retirement, Allstate Benefits, Encompass, Esurance, Property-Liability Alternative Segments, ... Read the full article
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