Reinsurance News

Hamilton Re enters catastrophe bond market with $60mn US multi-peril deal

20th June 2019

The reinsurance arm of Bermudian firm Hamilton Insurance Group, Hamilton Re, has announced that via its Hamilton Capital Partners unit, it has sponsored its very first catastrophe bond transaction, a $60 million Easton 2019-1 deal. Hamilton Re has sponsored its first cat bond through the issuance of the Series 2019-1 Principal ... Read the full article

Oasis LMF launches global collaborative risk modelling project, The Wave

20th June 2019

The Oasis Loss Modelling Framework (Oasis LMF) announced the official launch of global collaborative risk modelling effort, The Wave at its London conference held earlier this week. The Wave is an international project that was created in response to an increase of support for open source, cost-effective technology, which, Oasis LMF ... Read the full article

Third Point Re invests in driver-focused insurtech Noblr

20th June 2019

Hedge fund-backed reinsurer Third Point Re has entered into a partnership with insurtech firm Noblr through a combination of a minority equity investment and reinsurance. Noblr offers an insurance producted designed to reward drivers for making smart decisions, leveraging telematics data, actuarial insight, and product design to offer feedback and real-time ... Read the full article

Arch promotes Fearon to EVP, Credit Risk Transfer and Services, Global Mortgage Group

20th June 2019

Seamus Fearon, previously Chief Actuary of Arch Capital Group Ltd.'s Global Mortgage Group, has been promoted to Executive Vice President (EVP), Credit Risk Transfer and Services, Global Mortgage Group. This newly created role has been established to build on the firm's growing participation in credit risk transfer programs, while at the ... Read the full article

Liberty Mutual Re announces Marine & Energy hire from AXA ART

20th June 2019

Liberty Mutual Reinsurance, the reinsurance unit of Liberty Specialty Markets, has announced the appointment of Jens Voges as Senior Underwriter and Product Leader for Marine & Energy within its London Market Risk (LMR) team. Voges joins Liberty Mutual Re from AXA ART Insurance, where he has served as Senior Reinsurance Specialist ... Read the full article

Beazley confident of growth as rate momentum accelerates, say analysts

20th June 2019

Specialist insurer Beazley continues to experience improved rate momentum in 2019 with rates now up by 4% year-to-date, which analysts partly attribute to heightened claims activity across property lines and also some casualty classes of business. During a Beazley analyst seminar, the specialist insurance company revealed accelerated, positive rate momentum in ... Read the full article

“Little evidence” that reinsurance will respond to silent cyber events: GC’s Siobhan O’Brien

20th June 2019

There continues to be “little evidence” that reinsurance programs will respond as planned to a silent cyber event, despite recent regulatory efforts that have aimed to quantify exposure. This is according to Siobhan O’Brien, Head of the Cyber Center of Excellence for International and Global Specialties at Guy Carpenter, who outlined ... Read the full article

Etienne Bouas-Laurent to succeed Gérald Harlin as AXA CFO

20th June 2019

Global re/insurer AXA has announced that Etienne Bouas-Laurent will become its new Group Chief Financial Officer (CFO), taking over from Gérald Harlin who is due to retire at the end of the year. Harlin will step down on January 1, 2020 after 29 years with AXA, including 9 years as CFO. Bouas-Laurent, ... Read the full article

PERILS raises Sydney hailstorm property loss to AUD 766mn

20th June 2019

Catastrophe loss data aggregator PERILS has announced a revised property loss estimate of AUD 766 million (USD 530 million) for the December 2018 Sydney hailstorms. At AUD 766 million, the third insured property loss estimate from PERILS for the event is up 21% on the AUD 633 million (USD 438 million) ... Read the full article

Marsh names Brian Hanuschak as President of Victor North America Global

20th June 2019

Global re/insurance broker Marsh has appointed Brian Hanuschak as President of North America for Victor Insurance Holdings, its managing general underwriting (MGU) business. The announcement follows the appointment of Christopher Schaper as CEO of AIG’s new reinsurance operations, who previously served as CEO of Victor Insurance Holdings. Hanuschak has led Victor ... Read the full article

Tokio Marine Kiln’s UK insurer to be placed into run-off

20th June 2019

It's been announced that Tokio Marine Kiln Insurance (TMKI), the UK insurance operation of Tokio Marine Kiln, as well as portfolios of UK property, liability, marine, and engineering risks currently underwritten through TMKI, will be placed into run-off. Effective July 1st, 2019 TMKI will stop accepting new business, with the exception ... Read the full article

Lloyd’s forms Global & London advisory committees to support new strategy

20th June 2019

Lloyd's of London has established Global and London advisory committees to help it deliver its new strategy for the future. The committees' members are comprised of insurance and reinsurance industry experts and veterans. The prominent industry figures have joined the committees to help the specialist insurance and reinsurance marketplace develop and ... Read the full article

Scale critical to reinsurers in 2019, demand recovering: van Slooten, Aon

20th June 2019

The shift in reinsurance market dynamics following the catastrophe events of 2017 has resulted in a critical need for scale, according to Mike van Slooten, Head of Business Intelligence at global insurance and reinsurance broker, Aon. Addressing an audience this morning at the Aon United ILS Event in London, UK, van ... Read the full article

SCOR quashes CEO pay challenge with vote recount

20th June 2019

French reinsurer SCOR has verified the results of a recent shareholder vote on the level of remuneration received by its Chairman and Chief Executive Officer (CEO), Denis Kessler. The vote was originally held at SCOR’s AGM in April 2019, and was initiated by investment management firm and activist investor CIAM, ... Read the full article

Lloyd’s in talks with Chubb & AIG as it looks to boost U.S growth

20th June 2019

Insurance and reinsurance market Lloyd's of London is conducting talks with major insurer insurers such as Chubb and AIG as it looks to further boost its growth in the U.S, according to reports Reuters. CEO John Neal told the publication that Lloyd’s was discussing potential opportunities for the insurers to sell ... Read the full article