Reinsurance News
Trust Re names Kevin Quek as Labuan branch General Manager
23rd June 2017
Trust Re has announced the appointment of Kevin Quek to General Manager of its Labuan licensed branch office. In his new role Quek will manage the branch's growing team to ensure consistent delivery of services across all of Trust Re's Regional Centres. Thommy Thomas, Labuan Branch CEO welcomed Quek to the team; ... Read the full article
XL Catlin expands Latin America Marine Underwriting with string of hires and promotions
23rd June 2017
XL Catlin has expanded its Latin America Marine Underwriting team with a string of new hires and promotions in Brazil and Mexico. In Mexico Francisco Campos, previously Junior Underwriter, was appointed to Marine Cargo Underwriter; in Brazil Karina Amaral joined the team to take up the same position. The re/insurer announced the ... Read the full article
Bart Hedges named to Trisura board after spinoff from Brookfield Asset Management
23rd June 2017
Trisura Group, an international specialty provider of surety, risk solutions, corporate insurance and reinsurance products, has named ex-Greenlight Capital Re CEO Bart Hedges to its board, just a day after its spinoff from investor Brookfield Asset Management Inc. Yesterday Trisura revealed that it had completed the spinoff from Brookfield and its ... Read the full article
Declining rates to continue, S&P warns on reinsurer discipline
23rd June 2017
Global reinsurers face another year of falling rates as the market shows no signs of shifting course; abundance of capital and normal levels of losses coupled with growing competition have remained the unchanged hallmarks of the reinsurance sector, said S&P Global in a report released yesterday. S&P rated the sector's ... Read the full article
Aviation Insurance Clauses Group releases model EU contract continuation clause update
23rd June 2017
Launched in 2005 by the International Underwriting Association of London (IUA London) and the Lloyd's Market Association (LMA), the Aviation Insurance Clauses Group (AICG) has released a new model EU contract continuation clause. "The aim of the new clause is to provide additional certainty for clients as the UK leaves the European ... Read the full article
FERMA offers guidance for BEPS on captive re/insurance business
23rd June 2017
The Federation of European Risk Management Associations (FERMA) has published the industry's first report on captive re/insurance arrangements, in an effort to ensure the implementation of Base Erosion and Profit Shifting (BEPS) as recommended by the Organisation for Economic Co-operation and Development (OECD). OECD members raised some concerns of the interpretation of ... Read the full article
Everest Re hires Kelly from Hiscox to lead international casualty facultative reinsurance
23rd June 2017
Everest Re Group, Ltd. has hired Matt Kelly to lead its international casualty facultative reinsurance unit, a role that will see him responsible for worldwide Casualty facultative underwriting, outside of the U.S. and Canada. Kelly will be based in Miami in his new role as Vice President and Head of the ... Read the full article
Randall and Quilter announces sale of Lloyd’s managing agency to Coverys
23rd June 2017
Randall & Quilter Investment Holdings (R&Q) has announced the sale of its Lloyd's of London managing agency arm, R&Q Managing Agency Ltd., to Coverys, a step it has taken to simplify its business operations. Randall & Quilter (R&Q) had previously announced that it would look to simplify its operations to focus ... Read the full article
Fitch continues to assess United Guaranty impact on Arch
22nd June 2017
Ratings agency Fitch is maintaining a negative rating watch on the debt of insurance and reinsurance specialist Arch Capital Group Ltd., in the wake of the firms acquisition of mortgage insurance player United Guaranty Corporation from AIG. Bermudian re/insurer Arch completed the acquisition of United Guaranty from insurance giant AIG ... Read the full article
Pro Global & Zass International partner to expand marine recoveries services
22nd June 2017
Re/insurance consultancies Pro Global Insurance Solutions in Argentina (Pro) and Zass International in Germany have partnered to expand services in marine recoveries across Europe, Asia and the Far East regions. The cooperation enables Pro to expand into Europe and the Far East, while Zass would benefit from improved access to the ... Read the full article
Epsilon Underwriting Agency appoints new Chairman and Chief Underwriting Officer
22nd June 2017
Epsilon Underwriting Agency has announced two major appointments, naming Paul Lynam as new Chairman, and Paul O’Leary as new Chief Underwriting Officer, with effect from 1 July 2017. Morgan welcomed the new appointees; “both Pauls bring with them a wealth of experience and market presence both here in Australia and in particular the Lloyd’s ... Read the full article
JLT Re makes Deanna Williams new Bermuda business Partner
22nd June 2017
JLT Re has announced the hiring and appointment of Deanna Williams to Partner of the firms' Bermuda-based reinsurance brokerage business. She will be reporting to Charles Withers-Clarke, Partner of JLT Re in Bermuda. Withers-Clarke welcomed Williams to her new role; “I have worked with Deanna for many years and know her can do ... Read the full article
Generali Group appoints Bruno Scaroni to lead business transformation
22nd June 2017
Generali Group has appointed Bruno Scaroni to new group strategy and business accelerator director, with effect from July 1st 2017. Generali Group CEO Philippe Donnet, said; "I am very glad to welcome Bruno Scaroni. Thanks to his experience in different fields of the insurance sector, he will contribute to the acceleration ... Read the full article
Grenfell Tower fire insurance loss estimated at up to £1 billion
22nd June 2017
Media reports in the UK now suggest that the tragic fire in the Grenfell Tower apartment building in London’s Royal Borough of Kensington and Chelsea, could lead to an insurance industry loss of as much as £1 billion. The Times newspaper first reported that the Grenfell Tower fire could cost anywhere ... Read the full article
Deutsche Bank hires Meir Lewis as MD & Head of Insurance Investment Banking
22nd June 2017
Deutsche Bank has hired Meir Lewis from Morgan Stanley as a Managing Director and Head of Insurance Investment Banking. Prior to his appointment Lewis served Morgan Stanley's North America Insurance sector providing investment banking coverage that focused on large-cap P&C carriers, specialty mid-cap companies, and life and reinsurance clients. Lewis will be based ... Read the full article
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