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Reinsurance News

RSA names Mark Marshall as head of Channel Islands business

11th December 2018

RSA Group has appointed Mark Marshall as Managing Director of its subsidiary, Insurance Corporation of the Channel Islands (ICCI). Marshall has spent the previous seven years at RSA Group, most recently as Programme Manager responsible for leading RSA’s strategic response to Brexit. Prior to this, he was Finance Director for RSA’s European ... Read the full article

CoverWallet launches platform for insurance agents

11th December 2018

U.S-based Insurtech startup CoverWallet, an online platform founded in 2015 that simplifies the purchase and management of insurance for businesses, has announced the launch of a dedicated platform for insurance agents. Through CoverWallet for Agents, the company says agents will benefit from a fast, simple, and efficient way to provide commercial ... Read the full article

COIN Re appoints Andy Crichton as Executive Vice President

11th December 2018

Property catastrophe-focused reinsurance broker COIN Re has announced the appointment of Andy Crichton as Executive Vice President, effective 7 December 2018. Crichton will be based in London and will manage COIN Re’s reinsurance marketing and placement strategy. “We are delighted to have Andy on board,” said COIN Re Chief Executive Officer Ted ... Read the full article

WTW launches latest version of Radar software platform

11th December 2018

Willis Towers Watson has announced the launch of the latest version of its Radar software, a platform of products for property and casualty (P&C) insurer pricing teams, including actuaries and underwriters. WTW says Radar 4.2 gives insurers a future-proofed solution designed to achieve agile, sophisticated pricing, and a new level of ... Read the full article

Vulnerable countries push re/insurance agenda at COP24 climate event

11th December 2018

Representatives of some of the world’s most vulnerable countries have used the ongoing 24th Climate Change Conference of the Parties (COP24) in Katowice, Poland to push for a broader climate and disaster risk financing and re/insurance agenda. Members of the Vulnerable Twenty (V20) group, which represents 48 of the world's most ... Read the full article

AXA XL’s reinsurance business adds Etienne Champion to lead Underwriting in Asia

11th December 2018

AXA XL’s reinsurance business has appointed Etienne Champion as Head of Underwriting Asia, International Reinsurance, effective 1 December 2018. In his new role, Champion will be responsible for building AXA XL’s reinsurance portfolio and growing market presence in Asia. He will work together with the local reinsurance underwriting teams to further develop ... Read the full article

Citizens proposes 8.2% rate increases for Florida homeowners in 2019

11th December 2018

Citizens Property Insurance Corporation, the state-run not-for-profit insurer, has proposed to increase its average premium rates by 8.2% in 2019, driven by costly water-damage claims in South Florida. If approved by the Citizens Board of Governors and the Florida Office of Insurance Regulation, the increase would impact personal lines policyholders from ... Read the full article

Sompo International expands U.S cyber insurance capabilities

11th December 2018

Bermudian property and casualty re/insurer Sompo International Holdings has announced an expansion of its cyber insurance capabilities with the introduction of a U.S team focused on cyber offerings, an enhanced cyber and professional liability product, and an expanded suite of cyber risk management services. The new U.S-based underwriting team will be ... Read the full article

Berkshire Hathaway withdraws from Hong Kong terrorism pool

11th December 2018

Berkshire Hathaway Specialty Insurance Company (BHSI) announced that it has withdrawn from the Hong Kong Employees’ Compensation (EC) terrorism pool effective 1 December 2018. Instead, BHSI will now offer terrorism coverage to customers directly, making them the first insurer to do so. This decision benefits all BHSI’s new and existing EC customers ... Read the full article

Aspen shareholders approve acquisition by Apollo

11th December 2018

The shareholders of Bermuda-headquartered Aspen Insurance Holdings have approved the company's acquisition by funds under management of Apollo Global Management. Aspen held a special general meeting of shareholders regarding the merger agreement, and has announced that all of the resolutions put forward at the special general meeting were approved by the ... Read the full article

SCOR and PIC complete £1.2bn longevity reinsurance deal

11th December 2018

SCOR has completed a reinsurance deal with Pension Insurance Corporation plc (PIC), a specialist insurer of defined benefit pension funds, that relates to £1.2 billion of longevity risks. The agreement covers the longevity risk of around 8,000 in-payment lives across six separate defined benefit pension schemes. It also marks the second such ... Read the full article

WTW makes senior appointments to London Market P&C arm

11th December 2018

Global insurance and reinsurance broker Willis Towers Watson (WTW) has announced the appointments of Tom Rowley as Senior Vice President (SVP) for North American Property and Matt Harvey as SVP for International Property. Both appointments will sit within the Property & Casualty (P&C) Centre of Excellence (CoE), which is responsible for ... Read the full article

Munich Re collaborates with DXC Technology to enhance cyber services

11th December 2018

Global reinsurance giant Munich Re has selected DXC Technology to provide post cyber-attack services and expertise to insurance companies across the Asia Pacific. Under the new partnership, insurers stand to benefit from industry-leading experience and extensive service networks. The partnership sees Munich Re provide clients with holistic risk management solutions, designed to ... Read the full article

Blackstone leads $2bn investment in Acrisure

11th December 2018

U.S investment giant Blackstone has led a $2 billion investment in U.S. insurance broker Acrisure via funds managed by its GSO Capital Partners and Tactical Opportunities businesses. The group of investors led by Blackstone also consisted of Partners Group and Harvest Partners SCF. Acrisure remains over 83% owned by its own management ... Read the full article

No-deal Brexit poses risk for re/insurers despite fall-back plans: Fitch

11th December 2018

Interim solutions and contingency planning are reducing some of the risks of a ‘no-deal’ Brexit, but it remains uncertain how restrictions on cross-border authorisation could potentially impact re/insurers and other financial institutions (FIs), according to analysts at Fitch Ratings. The rating agency noted that a range of potential Brexit outcomes still ... Read the full article

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