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IUA says London insurance business growth needs boost

12th May 2017

International Underwriting Association (IUA) Chief Executive Officer (CEO) Dave Matcham, has added his voice to concerned London industry players who say coming years will be crucial to strengthening London's long-term relationship with emerging markets of Asia and Latin America, after the 2017 London Matters report revealed the city's been falling ... Read the full article

Arch moves into Australian market for mortgage re/insurance risk

12th May 2017

Insurer and reinsurer Arch Capital Group's eased entry into the Australian market for mortgage re/insurance has impacted established reinsurance names, as the firm's capabilities in the marketplace begin to be tested. A recent article on macrobusiness.com.au via Banking Day, explores the entry of Arch Capital Group in the Australian mortgage ... Read the full article

Aon Risk Solutions hires Taylor Turney and Joe Clark

11th May 2017

Insurance and reinsurance broker Aon's international risk management division, Aon Risk Solutions, has announced the appointments of Taylor Turney and Joe Clark. Turney joins the firm from JLT Specialty where he served as Vice President (SVP), and joins Aon Risk Solutions as Director in its Los Angeles, U.S., office. In his new ... Read the full article

Lloyd’s Market Association calls for changes to methods for calculating Ogden rate

11th May 2017

The Lloyd’s Market Association (LMA) has called for major changes to the method for calculating the Personal Injury Discount Rate, used to determine the Ogden rate, claiming the Discount Rate being set by referring to Index Linked Gilts instead of balanced investment portfolios used by claimants, will lead to over-compensation. The LMA ... Read the full article

Rumours suggest AIG close to securing Hamilton’s Duperreault as CEO

11th May 2017

Rumours have been spreading across the global insurance and reinsurance industry that AIG is in the final stages of securing Brian Duperreault, founder and Chief Executive Officer (CEO) of Hamilton Insurance, as its new CEO. Analysts at Credit Suisse have commented on reports from the Wall Street Journal (WSJ) that insurance industry ... Read the full article

U.S. cyber insurance pays off despite high loss ratios in 2016: Aon Benfield

11th May 2017

Reinsurance broker Aon Benfield's cyber insurance update for 2016 showed U.S. cyber insurance as profitable despite it being a line of business with above average loss ratios. With cyber being the second top rated business risk throughout Europe and the U.S., the report shows insurers and reinsurers have made progress in leaps ... Read the full article

AGCS & Praedicat combine science with risk management to identify future liability risks

11th May 2017

Allianz Global Corporate & Specialty (AGCS) has collaborated with InsurTech firm Praedicat to utilise big data, advanced data analytics, and comprehensive predictive modelling techniques to better identify future catastrophe liability exposures. AGCS is the corporate insurance carrier of global insurer and reinsurer Allianz, and together with Los Angeles, U.S., domiciled InsurTech ... Read the full article

Catalina Holdings UK completes HFPI and DLM acquisition

11th May 2017

Catalina Holdings has announced that it's UK subsidiary has completed the acquisition of Hartford Financial Products International (HFPI) and Downlands Liability Management (DLM), from The Hartford Financial Services Group. The announcement comes after the insurer received Prudential Regulation Authority (PRA) and Bermuda Monetary Authority (BMA) approval to finalise the purchase. HFPI is a ... Read the full article

Barbican Insurance hires energy underwriter from XL Catlin

11th May 2017

Barbican Insurance has announced former XL Catlin energy class underwriter, Jacqueline Wiffen, as newly appointed class underwriter for upstream energy, with immediate effect. Wiffen, an insurance veteran with over 15 years industry experience, will report to Olivier Decombes, divisional head of energy, power and utilities, Barbican Insurance. Commenting on the appointment, Decombes said; "Jacqueline ... Read the full article

Market conditions could create significant challenges for insurance sector: BIBA

11th May 2017

The UK insurance industry must be cautious of the many challenges and pressures currently facing the sector, which have the potential to converge and materialise at the same time to create a "perfect storm of disruption," warns Steve White, Chief Executive Officer (CEO) of the British Insurance Brokers' Association (BIBA). Addressing ... Read the full article

Jason Hogg named leader of Aon Cyber Solutions and CEO of Stroz Friedberg

11th May 2017

Global insurance and reinsurance broker Aon has named Jason Hogg as the new Leader of Aon Cyber Solutions, and Chief Executive Officer (CEO) of Stroz Friedberg. Aon has announced a number of hires within its cyber division in recent times, and the appointment of Hogg from private equity firm, Tritium Partners, ... Read the full article

Validus Re CEO Driscoll named President of Validus Holdings

10th May 2017

Validus Re Chief Executive Officer Kean Driscoll has been named President of the parent company Validus Holdings, Ltd., effective immediately. Driscoll will remain in his CEO role at the reinsurance unit. Driscoll has been CEO of Validus Re since since 2012. With 17 years of reinsurance industry experience, Driscoll was a ... Read the full article

Lloyd’s Inga Beale calls on the City of London to support re/insurance modernisation

10th May 2017

Lloyd's Chief Executive Officer (CEO), Inga Beale, has said London's access to talent and emerging markets must be prioritised if the city's re/insurance industry is to thrive in future years. And while these factors could become increasingly challenged in an era of populism and protectionism, Beale said she believes Brexit could ... Read the full article

Continuation of UK mortality trends to drive greater insurer reserve releases: RBC

10th May 2017

RBC Capital Markets has reported that a group of actuaries remains confident the recent slowdown in life expectancy in the UK and elsewhere around the world is a fundamental shift, with the trend continuing into 2017, which is expected to result in greater reserve releases for insurers. Analysts at RBC reported ... Read the full article

Peter Vogt to replace Joseph Henry as CFO of Axis Capital

10th May 2017

Insurer and reinsurer AXIS Capital Holdings has announced that current AXIS Insurance Chief Operating Officer (COO), Peter Vogt, will replace Joseph Henry, who is to retire at the end of 2017, as Chief Financial Officer (CFO) of AXIS Capital. Vogt will assume the role of CFO of AXIS Capital Holdings from January ... Read the full article

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