Reinsurance News
XL adds James Nevels to Board of Directors
30th October 2017
James Nevels has been appointed to the XL Group Ltd Board of Directors, according to a filing with the Bermuda Stock Exchange (BSX). Nevels brings extensive investment industry experience to the role, and has considerable board experience. This includes being Chairman of Read the full article
Retro player Markel CATCo raises $1.8bn+ to meet renewal demand
30th October 2017
Additional investments from existing and new investors, and the expectation of increased demand from both existing and new reinsurance clients at the upcoming January 1st, 2018 renewals, has seen Markel CATCo Investment Management Ltd. successfullyRead the full article
R&Q’s ASC subsidiary reaches agreement with Atlas General Insurance
30th October 2017
Florida-based property/casualty (P/C) insurer and subsidiary of Randall & Quilter (R&Q), Accredited Surety and Casualty Company, Inc. (ASC), has entered into an agreement with Atlas General Insurance Services for its Western Trade Craft artisan contractor operation. The Atlas Western Trade Craft artisan contractor business has a focus on surety, commercial liability and inland marine ... Read the full article
Aon acquires UK insurance broker Henderson
30th October 2017
Insurance and reinsurance broking specialist Aon plc is acquiring Henderson Insurance Broking Group, an independent UK-based insurance brokerage. Henderson is one of the UK’s largest independent brokers, with a focus on general insurance, health and benefits and trade credit insurance. Its clients include large corporates, mid-market and SME businesses and the insurance ... Read the full article
Munich Re’s Ergo to begin sale of life insurance businesses: Reports
30th October 2017
According to industry reports, Ergo, the primary insurance arm of reinsurance giant Munich Re, is moving forward with plans to sell the life insurance books of Ergo Leben and Victoria Leben. Citing a report in Handelsblatt daily, Reuters states that two people familiar with the matter have said that management within the entity ... Read the full article
RMS puts wine country wildfire losses at up to $8 billion
30th October 2017
RMS has provided an updated economic and insured loss estimate for damages caused by wildfires across the Sonoma, Napa, Solano, Lake, and Mendocino counties of California, of between $6 billion and $8 billion. The estimate includes losses due to property damage, contents and business interruption as a result of fires to ... Read the full article
U.S. P&C insurance sees further profitability deterioration: reports
30th October 2017
Overall profitability declined for U.S. property/casualty insurers in the first half of 2017, with net income after taxes dropping 29% from 2016's first half levels to just $15.5 billion, according to a joint report by ISO and the Property Casualty Insurers Association of America (PCI). The report highlights the headwinds facing ... Read the full article
Singapore aims to be global capital for Asian insurance and risk transfer
30th October 2017
The Monetary Authority of Singapore (MAS) has published a roadmap for the future of its financial services sectors, including insurance and risk transfer, aiming to become the leading hub in Asia and putting technology at the heart of industry transformation. The industry transformation map (ITM) for financial services, published by MAS, ... Read the full article
RFIB launches Singapore company
30th October 2017
Independent insurance and reinsurance broker RFIB Group Limited (RFIB) has expanded its footprint in Asia with the opening of an office and operations in Singapore. In announcing the launch of RFIB (Singapore) Pte Ltd, the company said that its new base will serve as a hub for the continued development of ... Read the full article
Recent events highlight expanding U.S. protection gap
27th October 2017
The impact of recent hurricanes in the third-quarter of 2017 on parts of the U.S. brings the country's protection gap into focus, with greater insurance penetration required for what's considered the most developed market in the world. Hurricanes Harvey and Irma brought intense and damaging levels of rainfall, flooding and surge ... Read the full article
Courtney Mocio named Vice President of Brit USA Cyber & Technology
27th October 2017
Brit has named Courtney Mocio as Vice President of Cyber & Technology at Brit Global Specialty USA (“BGSU”) with effect from 17 October 2017. She joins BGSU from Nationwide Insurance (Freedom Specialty) where she spent the last five years writing a book of cyber, technology and professional business. In her BSCU New ... Read the full article
Market at the start of a “firming price environment,” says Chubb’s Greenberg
27th October 2017
Evan Greenberg, the Chairman and Chief Executive Officer (CEO) of global re/insurer Chubb, believes insurance and reinsurance markets are at the start of a firming price environment, after years of a softened market state. Chubb announced third-quarter 2017 after-tax catastrophe losses of $1.525 billion, which drove the firm to a net ... Read the full article
Ironshore names Kristin McMahon Head of U.S. Claims
27th October 2017
Ironshore Inc. has named executive Kristin D. McMahon, Esq. as its new Head of U.S. Claims, effective immediately. Prior to the appointment, McMahon served as the company's Chief Claims Officer within its specialty healthcare unit, IronHealth, and also recently took on underwriting oversight as President of the unit's liability and regulatory ... Read the full article
Hannover Re’s parent exhausts large loss budget on HIM & Mexico quakes
27th October 2017
Talanx Group, the parent company of reinsurance giant Hannover Re, has announced losses of approximately €900 million (US$1.05bn) from hurricanes Harvey, Irma, and Maria, and the two Mexico earthquakes, meaning it's now exhausted its catastrophe loss budget for 2017. Talanx announced previously that it expects to "exceed the pro-rata large loss ... Read the full article
New York Life appoints Donna Kinnaird to Board of Directors
27th October 2017
New York Life Insurance has appointed former senior executive vice president and chief operating officer of Reinsurance Group of America (RGA), Donna Kinnaird, to its Board of Directors with effect from October 15, 2017. Kinnaird served as senior executive vice president and chief operating officer of RGA from 2012 to 2017, where ... 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.
