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Reinsurance News

Dominic Addesso named Non-Exec Chairman of BMS Intermediaries

18th May 2020

Specialist insurance and reinsurance broker BMS Group has announced the appointments of Dominic Addesso as Non-Executive Chairman and LoriAnn Lowery-Biggers as an independent Non-Executive Director of BMS Intermediaries Inc., the Group's US reinsurance intermediary unit. At the same time, both Addesso and Lowery-Biggers also join as independent Non-Executive Directors of the ... Read the full article

The majority of rated re/insurers can withstand pandemic shocks, says A.M. Best

18th May 2020

Global financial services ratings agency, A.M. Best, has said that initial stress testing shows that the majority of its rated insurers can withstand potential shocks to their balance sheets as a result of the ongoing COVID-19 pandemic. The ratings agency announced in March that it was in the process of ... Read the full article

FedNat CEO sees reinsurance rate increases as “extremely manageable”

18th May 2020

Mike Braun, the Chief Executive Officer (CEO) of FedNat Holding Company (FedNat), has said that while the firm expects reinsurance pricing to increase, movements are anticipated to be "extremely manageable" for the insurer. Speaking during the company's first-quarter 2020 earnings call, CEO Braun discussed FedNat's 2020-2021 reinsurance renewal amid an expectation ... Read the full article

Ethos Specialty launches U.S. real estate liability program

18th May 2020

Ethos Specialty has announced the launch of a new commercial general liability program for U.S. real estate owners and managers. The new Real Estate program targets apartments, condos, coops and commercial properties, and leverages advanced third party data analytics via multiple APIs, which are sensitive to the individual locations rather than ... Read the full article

Reinsurance broker Ed launches TradEd in Bermuda

18th May 2020

Global reinsurance brokerage Ed has announced that its TradEd platform is now available to both carriers and clients in Bermuda. The TradEd electronic trading platform is used in-house by BGC insurance companies across the world, designed to enable a seamless placement of risk for all parties involved. An announcement on the external ... Read the full article

AXA partners on medical support for Accor hotels

18th May 2020

Global insurer AXA has partnered with French multinational hospitality company Accor to provide medical support to guests across 5000 Accor hotels. From July 2020, the partnership will enable Accor guests to access medical solutions from AXA Partners, an AXA subsidiary specialising in assistance services, travel insurance and credit protection. Accor guests will ... Read the full article

MS Amlin adds Johan Slabbert and Martin Hudson as non-exec directors

18th May 2020

Lloyd's of London insurer and reinsurer, MS Amlin Underwriting Limited (MS AUL), has announced the addition of Johan Slabbert and Martin Hudson as Non-Executive Directors. Subject to regulatory approvals, Slabbert will also take on the role of Chairman of the MS AUL Board, succeeding Gilles Bonvarlet, who is set to transition ... Read the full article

FCA invites market participation to help resolve COVID-19 BI disputes

18th May 2020

The UK’s Financial Conduct Authority has begun seeking input from insurers and brokers to help address and understand ongoing contractual issues surrounding coronavirus-related business interruption cover. The regulator said earlier this month that it was seeking a court declaration to help resolve the wide-ranging issue. As was noted at the time, ... Read the full article

Berkshire (BHSI) launches Defense Base Act insurance via Dubai team

18th May 2020

Berkshire Hathaway Specialty Insurance Company (BHSI), the insurance arm of Warren Buffett's global re/insurance business, is providing Defense Base Act (DBA) insurance on a global basis through a dedicated underwriting and claims team in Dubai. DBA insurance provides disability, medical and death benefits to covered employees, whether the injury or death ... Read the full article

S&P revises PartnerRe outlook to stable from positive as Covéa deal collapses

18th May 2020

S&P Global Ratings has revised its outlook on Bermuda-based reinsurer PartnerRe to Stable from Positive following the collapse of its acquisition by French insurer Covéa. It was revealed last week that the $9 billion deal had been called off after owner EXOR declined to renegotiate the price in the context ... Read the full article

Munich Re sees a “variety of opportunities” amid pandemic: CFO Jurecka

18th May 2020

Munich Re sees a “variety of opportunities” available as it prepares to traverse the post COVID-19 marketplace, according to Chief Financial Officer (CFO) Christoph Jurecka. Speaking during a call alongside the release of the reinsurer’s Q1 results, Jurecka noted that there was a lot of demand of catastrophe reinsurance at ... Read the full article

Indian life insurance market set for 2020 decline off COVID-19: GlobalData

18th May 2020

Data and analytics company GlobalData expects the Indian life insurance industry to contract in 2020, declining by 0.9% compared to the 8.8% growth recorded in 2019. This revised forecast accounts for the aftermath of the global coronavirus pandemic. As per the latest data, the country's life insurance market is forecasted to grow ... Read the full article

Reinsurance markets to remain healthy at mid-year renewals: Everest Re’s Doucette

15th May 2020

Everest Re is expecting the reinsurance markets to remain healthy at the upcoming mid-year renewals, despite uncertainties from the COVID-19 pandemic, according to John Doucette, EVP, President and CEO of the company’s Reinsurance Division. Speaking on a call alongside the release of Everest Re’s Q1 results, Doucette noted that the ... Read the full article

Great American bolsters ocean marine division leadership team

15th May 2020

Great American Insurance Group has announced the addition of both David Fowler and Gordon Lewis as divisional vice presidents within its ocean marine division. Fowler joins with over 30 years’ experience in the marine insurance industry and most recently served at Zurich as senior vice president of the Pacific region. He will ... Read the full article

L&H cat bonds most at risk from COVID-19: AM Best

15th May 2020

Analysts at AM Best believe that life and health (L&H) related catastrophe bonds face the greatest threat of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS). The rating agency expects the overall impact of the pandemic on the ILS market to be limited, given that the underlying risk ... Read the full article

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