Reinsurance News
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
Marsh & McLennan Agency announces hire of new President and COO
1st August 2017
Marsh & McLennan Agency (MAA) has expanded its executive team with the appointment of Bill Jeatran to President and Christina Mott to Chief Operating Officer. Jeatran and Mott will be reporting to Chairman and CEO of MMA David Eslick. Jeatran succeeds Ben Allen who has left the firm; as President he'll develop the ... Read the full article
Neon hires two executives for financial and casualty lines
1st August 2017
Neon has appointed Charles Boorman to Head of Financial Lines and Ian West to Director of Major Client Relations for Casualty Lines as the firm consolidates expansion of its financial lines products and geographic offering. Boorman is an insurance industry veteran with 25 years experience, joining Neon from a role as ... Read the full article
Peak Re predicts normal typhoon season for China after fears of El Nino disperse
1st August 2017
Hong Kong based Peak Re, in collaboration with the Shanghai Typhoon Institute, has predicted a normal level of China's tropical cyclone activity for the second half of 2017 in its first seasonal forecast for China's typhoon risk after initial fears of an El Nino event forming dispersed. About half of the predicted ... Read the full article
Allianz and InsurTech start-up Flock announce pay-as-you fly drone cover
1st August 2017
Allianz and InsurTech start-up Flock have announced the soon to come launch of the UK's first pay-as-you fly drone insurance that can be tailored to each flight through the Flock app and provides up to £10 million liability cover. The pay-as-you-fly drone insurance is the first product to be launched by ... Read the full article
Argo Group hires former AIG Country Head to lead Europe and Asia operations
31st July 2017
Global specialty insurer and reinsurer, Argo Group International Holdings, Ltd., has announced the appointment of Matt Harris as the new head of its Europe and Asia operations, effective immediately. The new role will see Harris report to Argo's Head of International business, Jose A. Hernandez, and he brings more than 25 years of ... Read the full article
Pool Re CEO urges re/insurers to adapt to evolving terror threat
31st July 2017
The terrorism re/insurance model needs to evolve in line with changing threats after the 2017 attacks in the UK showed gaps in business interruption (BI) cover and the potential vulnerability of motor insurers to terror threats, Pool Re Chief Executive Officer (CEO), Julian Enoizi told Bloomberg in an interview. After this ... Read the full article
JLT Re names Ben Gray as new London & International Cyber Treaty partner
31st July 2017
JLT Re has named Ben Gray as a new Partner in the firm's London and International Markets (LIM) team, where his main focus will be on Cyber Treaty reinsurance. Gray brings extensive experience in the Cyber Treaty reinsurance brokerage space, joining from a position as Cyber Treaty broker with Ed, prior ... Read the full article
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