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Tokio Millennium Re CEO discusses refined capital markets strategy & broader reinsurance market trends

5th May 2017

Stephan Ruoff, Chief Executive Officer (CEO) of Tokio Millennium Re (TMR), discussed the firm's main target markets and operating strategies in a recent interview with Reinsurance News. Ruoff highlighted the firm's commitment to income diversification through gaining momentum in two major areas, and also discussed the rise of InsurTech, the global political ... Read the full article

Munich Re’s HSB Ventures leads $29mn Next Insurance capital raise

5th May 2017

Munich Re's venture capital subsidiary, HSB Ventures, has led a $29 million Series A round of funding for Next Insurance, an online insurance platform designed for small to medium sized businesses. Reinsurance giant Munich Re's HSB Ventures led the capital raise alongside Markel, Nationwide, and other existing investors, says Next Insurance. "The small ... Read the full article

AGCS appoints new offshore energy underwriter in London

5th May 2017

Allianz Global Corporate & Specialty (AGCS), a division of insurer and reinsurer Allianz, has announced the appointment of Zoe Massie as Offshore Energy Underwriter, based in the firm's London energy team. In her new role Massie will report to Tracey Hunt, AGCS Regional Head of Energy, London. Massie started her insurance ... Read the full article

Global microinsurance sector to experience CAGR of 8.2%: Report

5th May 2017

The international microinsurance market is predicted to grow at a compound annual growth rate (CAGR) of 8.2% during 2016 to 2020, suggesting that more of the world's poorest, and most vulnerable will have access to invaluable insurance protection, according to new research. Microinsurance solutions target low-income households and farmers, among other ... Read the full article

Liberty Mutual to combine LIU U.S. & Ironshore’s specialty U.S. operations

5th May 2017

Liberty Mutual Insurance (LMI) has revealed that following the completion of its takeover of Ironshore from Fosun International, Liberty International Underwriters' (LIU) existing U.S. business will combine with Ironshore's U.S. specialty lines business under the Ironshore brand. Based on 2016 direct written premiums, the combination of the two units under the ... Read the full article

Russian national reinsurer receives AAA rating from regulator

4th May 2017

The Russian National Reinsurance Company (RNRC) has been given an AAA credit rating with a "stable outlook" by the Russian Analytical Credit Rating Agency (ACRA). ACRA said the RNRC's credit rating is based "on its very strong business and financial profiles coupled with high-quality management," TASS reported. According to reports this is ... Read the full article

Broker Miller hires Ian Blick to head up facultative energy team

4th May 2017

Insurance and reinsurance broker Miller has hired Ian Blick to lead its facultative energy team. The announcement comes in addition to recent senior appointments in the facultative team, as Miller seeks to grow its capacity in the segment. Blick will work predominantly with Neil Higgins and the London team to manage and ... Read the full article

Greater re/insurer digitisation drives growth & improves earnings: ACORD

4th May 2017

Less than 40% of the world's top insurers and reinsurers have significantly digitised the insurance value chain, despite increased levels of digitisation being seen to drive greater premium growth and earnings, according to a study from nonprofit, re/insurance industry organisation, ACORD. The ACORD organisation has now released the findings of its study ... Read the full article

Cyclone Debbie to impact regional reinsurance pricing, Swiss Re tells Reuters

4th May 2017

Speaking to Reuters, David Cole, the Chief Financial Officer (CFO) of reinsurance giant Swiss Re, which reported a decline in Q1 net income today as a result of Cyclone Debbie, said the event was expected to impact regional reinsurance pricing. "Debbie in itself may not have an impact that is so ... Read the full article

Willis strengthens London Political Risk & Trade Credit team

4th May 2017

Global insurance and reinsurance brokerage, Willis Towers Watson (WTW), has announced two key appointments within its London Political Risk and Trade Credit division, as it looks to expand its Financial Solutions department. Both Claire Simpson and Victoria Padfield join Willis from insurer and reinsurer Hiscox, where they held underwriting positions. Simpson joined ... Read the full article

Swiss Re’s Q1 net income halved as Cyclone Debbie losses hit

4th May 2017

Swiss Re's first quarter results show it's been a tough start to the year with net income halved from last year's Q1 $1.2 billion to just $656 million, these stark losses come after Cyclone Debbie cost the reinsurer $350 million in expected insurance claims. The annualised Group return on equity (ROE) ... Read the full article

Report finds disconnect between cyber & property risk management

4th May 2017

Global organisations are spending almost four times as much on property related risks than on cyber risks, despite a broad expectation of heightened cyber exposure over the next two years and the greater impact of business disruption to cyber assets than to property, plant and equipment (PP&E) assets, according to Aon ... Read the full article

ArgoGlobal names Paul Harris professional indemnity underwriter

4th May 2017

Lloyd's of London insurer and Argo Group subsidiary, ArgoGlobal, has announced the appointment of Paul Harris as professional indemnity underwriter, effective immediately. Harris will report to James McPartland, professional indemnity class underwriter, and joins the firm from Starr Companies, where he was most recently a professional indemnity underwriter. Before Starr Companies ... Read the full article

BMS names John Hoare MD of specialty marine unit, BMS Harris & Dixon Marine

3rd May 2017

Specialist insurance and reinsurance broker, BMS Group Limited, has named John Hoare Managing Director (MD) of its BMS Harris & Dixon Marine subsidiary, effective immediately. Hoare replaces Tony Pryce, who is set to remain as Chairman of the company, and the pair will work together on the development and expansion of ... Read the full article

Risk managers not up-to-par on disruptive technologies: Marsh/RIMS

3rd May 2017

Risk management professionals show an "alarming" lack of understanding and preparation to assess risks from disruptive technologies, including telematics, sensors, the Internet of Things (IoT), smart buildings, and robotics, said insurance broker Marsh in a joint report with the Risk Management Society (RIMS). 60% of respondants surveyed said they don't conduct ... Read the full article

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