Reinsurance News
Hannover Re US incorporates ExamOne data into underwriting platform
19th August 2021
Hannover Life Reassurance Company of America (Hannover Re US) has announced a collaboration with ExamOne, a Quest Diagnostics Company, to incorporate ExamOne’s innovative LabPiQture data into hr | ReFlex, Hannover Re’s automated underwriting solution for life insurers. The integration will allow hr | ReFlex clients to automate the use of LabPiQture’s ... Read the full article
Miller hires Ron Whyte as Head of Strategic Development, Singapore
19th August 2021
Independent specialist re/insurance broker Miller has appointed Ron Whyte to lead the broker’s expansion in Asia-Pacific. Whyte joins as Head of Strategic Development, and will be based in Singapore. Bringing 40 years of industry experience, he will oversee Miller’s growth strategy in the Asia-Pacific region, bringing its capabilities and expanding its service ... Read the full article
ASR Re gains B++ strength rating from AM Best
19th August 2021
ASR Re, the newly launched Bermuda subsidiary of pan-African reinsurer Africa Specialty Risks (ASR), has been assigned a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb+” (Good) by AM Best. The ratings, which both have a stable outlook, reflect ASR’s consolidated balance sheet strength, ... Read the full article
Haiti earthquake triggers $40mn CCRIF SPC payout
18th August 2021
The Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) is set to make a payout of approximately $40 million to the Government of Haiti following a devastating magnitude 7.2 earthquake on August 14. The earthquake significantly impacted the city of Les Cayes and released approximately twice as much energy ... Read the full article
Bermuda re/insurers paid out $65bn+ in claims to EU clients since 1997: BMA
18th August 2021
From 2016 to 2020, Bermuda-based insurers and reinsurers paid out USD 29.3 billion to policyholders and cedants located in the European Union (EU), for both property and casualty (P&C) and life insurance claims, according to data collected by the Bermuda Monetary Authority (BMA) in June 2021. Interestingly, the almost USD 30 ... Read the full article
GDV expects flood damage at top-end of €5.5bn estimate
18th August 2021
According to the German Insurance Association (GDV), insurers in the country have been working under pressure for the last few weeks to provide quick relief to flood victims, with the number of reported claims having risen to around ... Read the full article
Alesco names Donald Alcorn MD of delegated authority globally
18th August 2021
Alesco Risk Management Services has appointed Donald Alcorn as managing director of its global delegated authority practice after ten years of service with the firm. Alcorn most recently was managing director of delegated authority for the UK. In his new role he will head up the 50 strong team which is based ... Read the full article
Xceedance expands Claims Services Division under new leader
18th August 2021
Re/insurance service provider Xceedance has announced the expansion of its Claims Services Division under the leadership of its new head of claims, Marc Rothchild. Prior to joining Xceedance, Rothchild led claims operations for Blackboard Insurance and the Consumer and Commercial Claims Unit at AIG. He has diverse experience in the property and ... Read the full article
AXA XL makes senior underwriting hires
18th August 2021
AXA XL, the property & casualty and specialty risk division of AXA, has announced the appointment of several senior environmental underwriters, along with the promotion of Jeffrey Anastasio to lead its Environmental Claims team in North America. The new underwriters include Lindsay Judd, Jay Kao, Angela Case and Igor Pavlo. Previously an ... Read the full article
AM Best notes US captive flexibility, control as commercial peers outperformed
18th August 2021
A new AM Best report indicates the operating performance of rated US captive insurers continued to surpass that of their commercial market peers in 2020, alongside emerging areas of growth, due to COVID-19-fueled market conditions. Analysts explain how captives’ inherent flexibility and control in managing risk drives profitability and retain earnings ... Read the full article
Arch Capital makes two additions to board of directors
18th August 2021
Arch Capital Group has appointed Francis Ebong and Eileen Mallesch to join the company’s board of directors. Ebong has an extensive background in technology and innovation and is currently Managing Director of Program Management at X, Alphabet’s in-house research and development division, where he is tasked with launching technologies to improve ... Read the full article
Munich Re Africa promotes Skei to COO
18th August 2021
Global reinsurer Munich Re has appointed Yolanda Skei as the new Chief Operating Officer (COO), Africa. Skei has been with Munich Re for the past 18 years, starting her Munich Re career as head of life claims. She then moved on to work as Internal Consultant, Life Claims back in 2013, where ... Read the full article
Allianz Structured Alpha loss likely between €3.5-6.8bn: Berenberg
18th August 2021
Analysts at Berenberg have estimated that the ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of Allianz Global Investors could entail a base-case loss of around €3.5 billion, with the potential for a worst-case loss of €6.8 billion. Allianz has already acknowledged that the investigation ... Read the full article
WTW promotes Kirsten Beasley to lead Bermuda office
18th August 2021
Global insurance and reinsurance broker, Willis Towers Watson (WTW), has appointed Kirsten Beasley to lead its Bermuda office. Beasley has been WTW’s head of healthcare broking, North America, since 2018 and will now lead a team of 26 in Bermuda. She will focus on Bermuda placements in casualty, property, financial lines, and ... Read the full article
BMS Re adds Scott Christian as EVP for Cat Analytics
18th August 2021
Independent reinsurance broker BMS Re has announced the appointment of Scott Christian as Executive Vice President, Catastrophe Analytics. Based in Atlanta, Georgia, Christian will report to Kirk Conrad, Global Head of Analytics at BMS. Christian brings over 19 years of catastrophe and risk management experience, having most recently served as Senior Vice ... Read the full article