Reinsurance News
Pacific Life Re signs asset intensive reinsurance agreement with Tokio Marine & Nichido Life
28th May 2024
Pacific Life Re, the global reinsurer and wholly owned subsidiary of Pacific Life, has announced an asset-intensive reinsurance agreement in Japan with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life). The deal, covering in-force whole-of-life policies, will provide Anshin Life with a new method to reduce its portfolio's long-term interest ... Read the full article
Cédric Boureau returns to CCR Re as Senior Actuary Underwriter
28th May 2024
French reinsurer CCR Re has announced the return of Cédric Boureau as a Senior Actuary Underwriter, responsible for underwriting in the regions of Asia and Africa, reporting to John Conan. Boureau has returned to the French reinsurer after four years with Swiss Re where he was a Reinsurance Senior Client Treaty ... Read the full article
Legal & General finalises Nortel pension buyout
28th May 2024
UK insurer Legal & General Assurance Society Limited has successfully completed a buyout with the Nortel Networks UK Pension Plan, which belonged to the now-bankrupt telecommunications company Nortel Networks. This latest agreement secures the benefits for the remaining Plan members, involving an initial premium of £14 million and an additional £6 ... Read the full article
Crestfield Risk launches to support independent insurance agencies, Benchimol joins board
28th May 2024
In partnership with The Vistria Group and founded by industry leader Jeff Turner, Crestfield Risk has recently launched as a platform to unite and support leading independent insurance agencies across the US. The platform aims to equip agencies with top-tier resources, insights, and growth opportunities to better serve their clients and ... Read the full article
Kairos appoints Andre Siregar as Chief Technology Officer
28th May 2024
Kairos Risk Solutions, a Singapore-based boutique insurance solutions consultancy, has announced the appointment of industry veteran Andre Siregar as Chief Technology Officer. In his new role, Siregar will lead the development and implementation of innovative risk solutions for the insurance and banking industries. He will collaborate closely with Albert Lim, Managing Director ... Read the full article
Higher interest rates transforming life insurance growth and profitability: Swiss Re
28th May 2024
Higher interest rates worldwide are reportedly transforming the outlook for life insurance growth and profitability, with a new high anticipated for US fixed annuity sales this year after record sales in 2022 and 2023, as per a new Swiss Re Institute report. Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, commented, ... Read the full article
Barber named Senior Liability Treaty Underwriter for Blenheim Syndicate 5886
28th May 2024
Blenheim Underwriting has announced the appointment of a new Senior Liability Treaty Underwriter for Syndicate 5886, David Barber, who aims to build a portfolio of niche liability classes, written via long-standing delegated authority/ reinsurance relationships. Barber joins Blenheim Syndicate 5886 following four years at Fortegra, and prior to that spent 25 ... Read the full article
Synthetic data key to future success in London specialty insurance: Earnix
28th May 2024
Earnix, a provider of AI-based SaaS solutions, highlights the crucial role synthetic data will play in the future success of the specialty London insurance market in a recent report. According to Gartner, the use of synthetic data in commercial applications is just beginning to gain traction, accounting for only 1% of ... Read the full article
RGA reinsures JPY 100bn life block for Anshin Life
28th May 2024
Reinsurance Group of America, Incorporated (RGA), a global life and health reinsurance company, has reached an agreement with Tokio Marine & Nichido Life Insurance Co., Ltd. (Anshin Life) to reinsure an approximately JPY 100 billion paid-up block of whole life policies through coinsurance. Gaston Nossiter, Senior Vice President, Head of Asia ... Read the full article
Marsh McLennan launches AI-powered solution to enhance supply chain risk management
28th May 2024
Marsh McLennan, a global re/insurance broker, has launched Sentrisk, an AI-powered platform with integrated advisory services that aims to redesign the way businesses manage global supply chain risk. Sentrisk enables clients to map supply chains comprehensively, identify gaps, and build resiliency under threat from increasing geopolitical tensions, food production and logistics ... Read the full article
Vital role of re/insurance in mitigating AI risks in health sector: Swiss Re
28th May 2024
In response to Swiss Re Institute’s recent report revealing the health sector's increased vulnerability to AI-related threats, Pravina Ladva, Group Chief Digital & Technology Officer at Swiss Re, highlights the critical role of re/insurance in mitigating these risks and fostering the digital trust essential for maximising the benefits of emerging ... Read the full article
Euclid Program Managers launches new offering for marine cargo
28th May 2024
Euclid Program Managers, a family of insurance program managers, has launched Euclid Marine, LLC, a program manager committed to delivering comprehensive marine cargo and stock throughput coverage for North America. Euclid Marine will be led by industry veteran underwriters, Brian Pullen and Jason Gomez, as managing principals. John N. Colis, President and ... Read the full article
Swiss Re’s US economic outlook: normalisation continues
24th May 2024
Through the second quarter, strong consumer fundamentals boost GDP forecasts, but persistent inflation prompts revisions, while anticipated interest rate adjustments reflect a cautious approach by policymakers, as noted by global reinsurer Swiss Re. The US economy's normalisation continues into Q2, reports the firm. Strong consumer fundamentals have led to an increase ... Read the full article
Climate change adaptation and transition to net zero present huge growth opportunities for insurers: Aon
24th May 2024
Aon’s Strategy and Technology Group (STG) has identified more than $20bn in potential premium growth by 2030 related to environmental megatrends, and has highlighted the importance of understanding the climate risks and opportunities to help clients through prevention and mitigation. Insurers have a crucial role to play in helping individuals, businesses ... Read the full article
Marco Capital reports pre-tax profit for 2023 but motor claims dent technical result
24th May 2024
Marco Capital Holdings Limited, a European provider of legacy solutions to the non-life insurance and reinsurance market, has reported a pre-tax profit of $51.4 million for the full year 2023, an improvement from the loss of $18.8 million seen a year earlier, although the firm has still reported a technical ... Read the full article
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