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Reinsurance News

AXA Hong Kong launches chronic disease management service

15th January 2020

The Hong Kong division of global re/insurer AXA has launched a new program designed to provide mitigation and treatment services for chronic diseases. ‘AXA Chronic Disease Management Programme' collaborates with CUHK Medical Clinic, Hong Kong Diabetes Specialist Centre, HKSH Medical Group and Virtus Medical Group. A registered medical practitioner will be assigned ... Read the full article

One80 Intermediaries acquires Vista Underwriting Partners

15th January 2020

Boston-based national wholesale insurance broker and program manager, One80 Intermediaries, has acquired Vista Underwriting Partners, a full service managing general underwriter of medical stop loss insurance. Vista is headquartered in Media, Pennsylvania, and was established in 2007 as a specialty underwriter of medical stop loss insurance coverage for corporate clients and ... Read the full article

Asta to support BPBUW, equestrian underwriter David Ashby

15th January 2020

Lloyd's third party managing agent Asta has agreed to provide its MGA platform and operational services to newly-formed underwriting agency BPBUW Management. BPBUW said that it hopes to build out a number of specialist niche MGA subsidiaries, with the key underwriters in each holding an equity stake in their own ... Read the full article

Weston Insurance to acquire Anchor P&C subsidiary

15th January 2020

Specialty insurer, Weston Insurance Holdings Corporation, is set to acquire Anchor Specialty Insurance Company, a subsidiary of Anchor Property & Casualty Insurance Company. In light of the impending acquisition, financial analysis firm Demotech has announced that the Financial Stability Rating (FSR) of A, Exceptional, assigned to Anchor Specialty is being sustained. Demotech's ... Read the full article

Korean Re sets up second branch in China

15th January 2020

Korean Reinsurance Company (Korean Re), the Seoul-based reinsurer, has continued to accelerate its overseas expansion with the establishment of a branch in Shanghai. The new office is the second location in China for Korean Re, which previously set up operations in Beijing in 1997. The reinsurer explained that the new branch would ... Read the full article

Chubb, Grab launches app-based travel insurance product

15th January 2020

Global insurer Chubb has partnered with Southeast Asian ride-hailing firm Grab on an app-based travel insurance product available for customers in Singapore. ‘Travel Cover’ allows Singapore-based customers to purchase cover from S$2.50 per day for travel to any destination globally. The product is distributed by GrabInsure Insurance Agency, Grab Financial Group’s insurance ... Read the full article

Chubb puts Q4 cat losses at $430mn

15th January 2020

Global insurer and reinsurer Chubb has announced net catastrophe losses of an estimated $430 million pre-tax ($353 million after-tax) for the fourth-quarter of 2019, net of reinsurance. Chubb states that the losses are primarily a result of severe, global weather-related events, including tornadoes in Texas, the California wildfires, and also typhoon ... Read the full article

Against its peers, Hannover Re is the main beneficiary from P&C rate rises: MS

15th January 2020

Analysis of Europe's big four reinsurers by Morgan Stanley (MS) states that when compared with its peers, German reinsurance giant Hannover Re is the main beneficiary from improving property and casualty (P&C) rates. In a recent industry report, analysts at Morgan Stanley discuss the current rate environment following the January 1st ... Read the full article

R&Q’s Joint CEO Roger Sellek resigns

15th January 2020

Changes at the top continue at non-life legacy and run-off investor and capacity provider to program business Randall & Quilter Investment Holdings Ltd. (R&Q), with one of its Joint CEO's resigning and set to depart immediately. The company said this morning that Roger Sellek has resigned from his position at R&Q ... Read the full article

SCOR automates financial processes with Accenture tech

15th January 2020

SCOR has improved the efficiency of its internal functions by utilising technology from professional services firm Accenture, which has enabled the reinsurer to automate financial processes, among other benefits. Previously, many of SCOR’s key processes within the finance function, including the quarterly-close process, were conducted manually, using spreadsheets, email and the ... Read the full article

BPB UW Management launches underwriting agency

15th January 2020

BPB UW Management Ltd (BPBUW) has launched an underwriting agency focused on supporting individual managing general agent (MGA) businesses. The agency will be led by Chairman Jonathan Palmer-Brown, CEO John Holm, Chief Operating Officer (COO) Margaret Ryan and Executive Director Robin Blunt. BPBUW said that it hopes to build out a number ... Read the full article

Lloyd’s of London’s Jon Hancock to step down in 2020

14th January 2020

The specialist Lloyd's of London insurance and reinsurance marketplace has announced that Performance Management Director, Jon Hancock, has decided to step down in 2020. In 2019, Hancock took the lead on Blueprint One as part of the Future at Lloyd's strategy, designed to modernise the oldest insurance market in the world. His ... Read the full article

Tysers announces minority investment in Bermuda’s Helix

14th January 2020

Tysers, the specialty London-based wholesale broker, has announced a minority investment in Helix Underwriting Partners Limited, the first multi-line independent Managing General Agent in Bermuda. Helix, which was founded by re/insurance industry veterans Claude Lefebvre, Nicholas Lucking and Neville Watson, launched in Bermuda last week after receiving all necessary approvals ... Read the full article

HCI Group subsidiary to acquire policies of P&C insurer Anchor

14th January 2020

Florida-headquartered HCI Group has announced that its subsidiary, Homeowners Choice Property & Casualty Insurance Company, will acquire the insurance policies of Anchor Property & Casualty Insurance Company. A purchase price was not disclosed and, according to reports filed with regulators last year, Anchor had 43,209 policies in force representing approximately $69 ... Read the full article

Liberty Mutual Re opens Singapore office, adds regional manager

14th January 2020

Liberty Mutual Re, the reinsurance arm of Liberty Mutual Insurance Group, has opened a new office in Singapore and appointed Annie Leong as regional underwriter manager in Asia Pacific. The reinsurer will be operating with a full treaty license as part of the LSM Asia Pacific office in Singapore and will ... Read the full article

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