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Reinsurance News

RMS launches RiskAssessor™ 2.0, a custom vulnerability solution for hurricane risk

30th June 2017

Global catastrophe risk modeller, RMS, has released RMS RiskAssessor™ 2.0, enabling insurers and reinsurers to obtain a more distinct and expansive view of hurricane risk. RMS describes the engineering-based technology as "the first auditable custom vulnerability modeling solution," which, enables the re/insurance industry to produce a more "distinct" and "expansive" view of hurricane ... Read the full article

Severe weather to increase in frequency & intensity: AIR Worldwide

30th June 2017

Catastrophe risk modeller AIR Worldwide compiled the latest findings of climate science in a report on the potential impact of climate change to extreme weather; bringing attention to tropical cyclones, extratropical cyclones, severe storms, wildfire, and floods and warning of an overall increase in frequency and intensity of severe weather phenomena ... Read the full article

Arch Insurance grows Travel business division with new hires

30th June 2017

Insurance and reinsurance provider, Arch Capital Group Ltd.'s subsidiary, Arch Insurance Group, Inc., has bolstered its Travel business division with a number of new appointments, effective June 5th, 2017. Both Cory Sobczyk and Dan Povondra have joined Arch as Vice Presidents of Business Development, while Lynn Barty has joined the firm ... Read the full article

JLT Specialty USA hires new SVP in San Francisco

30th June 2017

JLT Specialty USA, a division of global insurance and reinsurance brokerage, JLT Group, has hired Jennifer Schaeffer as Senior Vice President (SVP), based in San Francisco. She joins JLT Specialty USA from rival brokerage Aon plc, where she worked as an SVP with a focus on developing relationships with new customers, while advising ... Read the full article

Brian Ingle named head of analytics at Willis Re North America

30th June 2017

Reinsurance broker Willis Re, part of the Willis Towers Watson group, has appointed Brian Ingle to be the new head of Analytics for the Willis Re North America division. The appointment comes as a result of the appointment of previous analytics head Alice Underwood to become global head of Willis Towers ... Read the full article

Cyclone Debbie claims approach AU$ 1billion mark

30th June 2017

Tropical Cyclone Debbie losses continue to rise reaching nearly AU$1 billion in reported claims after insurers in the region received over 58,000 claims from North Queensland to northern New South Wales, according to latest figures from the Insurance Council of Australia (ICA). As of June 28, the value of the claims ... Read the full article

OdysseyRe’s Newline Group launches Affinity & Special Risks operations

30th June 2017

Specialty insurer Newline Group, which is part of specialty insurer and reinsurer Odyssey Re Holdings Corp. (OdysseyRe), has announced the launch of a new business line dedicated to U.K. and International Affinity & Special Risks solutions. The new business line sees Newline offer Motor-related Warranty, Non-motor Warranty and value-driven add-ons, such as Excess ... Read the full article

Allianz Global Corporate & Specialty SE opens South Korea branch

29th June 2017

Allianz Global Corporate & Specialty (AGCS) SE is opening a Seoul branch targeting "significant growth opportunities" in the South Korean corporate and specialty insurance segment as the country launches a number of large-scale infrastructure projects. Noh Chang Tae, a Korean national with almost 25 years insurance experience, will assume the role ... Read the full article

USI Insurance to acquire Wells Fargo Insurance Services USA

29th June 2017

USI Insurance Services (USI) and Wells Fargo & Company ( Wells Fargo) have announced the entry into an agreement that will see USI acquire Wells Fargo Insurance Services USA (WFIS). The acquisition includes WFIS' Insurance Broking and Consulting unit, Employee Benefits and Property & Casualty national practices, and also Safehold Special Risk, ... Read the full article

Argo Pro announces new senior appointments

29th June 2017

Argo Group International Holdings, Ltd. member, Argo Pro, has announced senior appointments within its financial institutions and architects & engineers (A&E) divisions. Mary Henderson has been named Senior Vice President (SVP), Head of Financial Institutions, and will be tasked with expanding Argo Pro's capabilities in the financial institutions marketplace via new ... Read the full article

Insurance law firms expand global specialist expertise with network launch

29th June 2017

Insurance law firms spanning four continents have today launched a formal alliance network, Global Insurance Law Connect, to match their clients' global needs with local lawyers' specialised insurance law expertise. The member firms operate across seven countries, and include: Batini Traverso Grasso & Associati (Italy), BLM (UK), Byrd & Associates (France) and Foran ... Read the full article

Former Sompo Canopius CEO named Chairman of run-off specialist, DARAG

29th June 2017

European specialist run-off insurer, DARAG, has announced that Stuart Davies has been appointed to succeed Claus Stenbaek as Chairman of the Group, effective immediately. Within the global insurance industry Davies most recently served as Group Chief Executive Officer (CEO) of Sompo Canopius, and was previously Managing Director of AEGIS London. He ... Read the full article

Fitch turns Negative on Lloyd’s as underwriting deteriorates

29th June 2017

In response to the continued deterioration in underwriting performance and increasing catastrophe risk exposure, Fitch Ratings (Fitch) has revised the Lloyd's of London's and Lloyd's Insurance Company (China) Ltd's outlook to Negative from Stable. At the same time international financial services rating agency, Fitch, has also affirmed the Insurer Financial Strength (IFS) Ratings at ... Read the full article

SCOR announces string of senior life leadership changes

29th June 2017

SCOR Global Life Americas has reported a series of changes to its Senior leadership, naming Von Peterson as Group Reinsurance team's Vice President of Sales and Marketing and Brian Anderson's promotion to head of Group Life & Accident product lines to succeed Mark Laulainen who is set to retire from ... Read the full article

Aegon completes sale of two run-off businesses to Wilton Re

29th June 2017

Global insurance and financial services specialist Aegon has completed the sale of its two largest U.S. run-off insurance businesses to Wilton Re, the U.S. life reinsurance firm that specialises in the acquisition of in-force portfolios. In a transaction first announced back in May, Aegon has sold its payout annuity business ... Read the full article

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