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HDI Global launches excess & surplus lines operation

18th August 2017

International industrial lines insurance group HDI Global Insurance Company (HDI Global) is branching out into the U.S. excess and surplus lines market, announced the formation of a subsidiary HDI Specialty Insurance Company (HDI Specialty). HDI Specialty will target the firm's U.S. and international clients, aiming to offer a platform for tailored ... Read the full article

Gen Re chairman speaks of Indian business challenges

18th August 2017

Winfried Heinen, chairman of Gen Re's executive board of directors, spoke out against the regulatory hurdles of operating in India, saying the requirement to hold capital within the Indian branch would mean higher costs are passed on to consumers, in a recent interview with The Hindu. “I think I am not ... Read the full article

Argo names Vindivich to lead U.S. E&S, Coates replaces at Trident

18th August 2017

International specialty insurance and reinsurance firm Argo Group International Holdings, Ltd.has appointed Ron Vindivich to lead its U.S. Excess & Surplus lines division, which includes the company’s Colony Specialty business. Sue Coates has been promoted to senior vice president, to replace Vindivich in his former role as head of Trident Public ... Read the full article

Reinsurers welcomed HCI’s use of tech to increase transparency during Matthew

18th August 2017

Paresh Patel, the Chairman and Chief Executive Officer (CEO) of HCI Group, Inc. has revealed how the company's adoption and utilisation of technology turned out to be a big differentiator during hurricane Matthew, raising the homeowners' insurers profile while provide its reinsurers with welcomed transparency. Speaking during the company's second-quarter 2017 ... Read the full article

JLT Re expands Bermuda team with Nicolas Bardon as Partner

18th August 2017

JLT Re has announced the expansion of its Bermuda reinsurance and retrocession broking team with the appointment of Nicolas Bardon to partner with effect immediately. The firm said the hire is a further step in its efforts to grow its international reach through Bermuda operations which have more than doubled in ... Read the full article

World Bank facilitates Philippines’ groundbreaking parametric insurance scheme

18th August 2017

The World Bank and the U.K. Department for International Development supported the Philippines in setting up the country's first ever national parametric catastrophe risk insurance scheme to transfer the risk of typhoons and earthquakes to the global reinsurance market. The scheme makes U.S. $206 million in cover available to local government units (LGUs) ... Read the full article

Digital tech revolution could increase casualty catastrophe risk

17th August 2017

Casualty catastrophe reinsurers could be hit with higher claims costs as legislation for software and app manufacturers evolves to shift the focus onto consumer contractual protections in coming years. Willis Towers Watson's Pete Thomas, Reinsurance and risk management expert, warned of the potential impact to reinsurers of expected upcoming legislative changes ... Read the full article

Cincinnati expands high-end clients programme to Washington & Massachusetts

17th August 2017

The Cincinnati Insurance company has expanded its Executive Capstone programme for high net worth personal insurance clients to Massachusetts and Washington. The Executive Capstone programme offers cover features, limits, and options to tailor insurance for clients with homes valued at more than $1 million, yachts, high-end cars, collector cars and personal articles. The ... Read the full article

QBE rationalises reinsurance, saves $350m+, makes greater use of Equator Re

17th August 2017

Australian headquartered insurance and reinsurance group QBE has rationalised its reinsurance spend in 2017, saving over $350 million so far as it restructured its program and made greater use of its Equator Re captive reinsurer. QBE has recognised annualised reinsurance cost savings of over $350 million, thanks to premium rate reductions, ... Read the full article

2017 H1 global catastrophe losses far below average: Swiss Re

17th August 2017

The first half of 2017 has been well below average for catastrophe losses which reached just $44 billion in H1, just 37% of last year's $117 billion for the same period, according to Swiss Re's preliminary sigma estimates. Fewer and less intense weather events were experienced this year so far globally; ... Read the full article

Hymans Robertson appoints Richard Purcell to Technical & Innovation Lead

17th August 2017

Actuarial and advisory consultancy Hymans Robertson, which deals with longevity risk transfer and longevity reinsurance or swap transactions, has appointed Richard Purcell to the role of Technical and Innovation Lead within its Life and Financial Services practice. Emma McWilliam, Head of Life and Financial Services at Hymans Robertson, welcomed Purcell to ... Read the full article

Chubb rehires Barbara Sandelands to lead North America unit

17th August 2017

Chubb has named Barbara Sandelands Executive Vice President (EVP) and Customarq Package Product Manager for its North America Commercial Insurance division. As EVP she'll lead the product, system development, and distribution management of the Customarq package policy, which offers middle market clients property and liability insurance protection through 48 offices throughout the U. S. ... Read the full article

Berkshire Hathaway capacity to back medical professional liability facility

17th August 2017

Berkshire Hathaway's MedPro Group has announced plans to expand its underwriting of clinical solutions risks that extend beyond U.S. borders through participating in the U.S. Jurisdiction medical professional liability facility of The Medical Professional Liability Company (The MPLC). Warren Buffett's insurance and reinsurance group Berkshire Hathaway will put capacity to work ... Read the full article

PartnerRe offloads New York unit

17th August 2017

According to SEC filings from both companies, reinsurance firm PartnerRe is to sell its PartnerRe Insurance Company of New York entity to workers compensation specialists Employers Group, Inc. The unit is being sold to Nevada-headquartered Employers Group for a purchase price equal to the statutory capital and surplus of PartnerRe Insurance ... Read the full article

Navigators appoints former Chubb executive James Rhyner to U.S. unit President

17th August 2017

The Navigators Group has named James Rhyner, joining from an executive role with Chubb, as new President of the firm's U.S. underwriting operation - the Navigators Pro division of Navigators Management Company. As Navigators' continues to grow its U.S. management and professional liability product lines, Rhyner will head up its U.S. directors and officers (D&O) ... Read the full article

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