Menu

Reinsurance News

Mapfre acquires stake in responsible investment asset manager

7th November 2017

Spain domiciled insurer Mapfre has acquired a 25% stake in French responsible investment manager, La Financiere Responsable (LFR), a strategic agreement that provides the latter with access to Mapfre's global network while enhancing the insurer's responsible investing. The agreement combines Mapfre's long-term commitment to corporate social responsibility with LFR's proprietary tools ... Read the full article

MGA Nexus Group appoints Charles Penruddocke to Deputy Chairman

7th November 2017

Specialty Managing General Agent (MGA) Nexus Group has appointed Charles Penruddocke to Non-Executive Deputy Chairman of Nexus CIFS and Equinox Global. He joins from a role wih MS Amlin Bermuda as Head of Specialty Lines and Global Product Lead. The appointment comes off the back of Nexus’ continued expansion in the Trade ... Read the full article

Kewsong Lee to resign from Arch Capital

7th November 2017

Kewsong Lee has resigned from Arch Capital Group's Board of Directors following his promotion at Carlyle Group LP to co-CEO, with effect from January 1st, 2018. Constantine (Dinos) Iordanou, Chairman and CEO of ACGL, said; “we thank Kewsong for his outstanding service to the Company. "He has been a director since our ... Read the full article

Asia Capital Re sale to Chinese investors called off

7th November 2017

ACR Capital Holdings Pte. Ltd., the parent company to Asia Capital Re, said today that it has called off its sale to Chinese investors Shenzhen Qianhai Financial Holdings Co. Ltd. and Shenzhen Investment Holdings Co. Ltd. has been called off. ACR said that its existing investors "remain committed to firmly supporting ... Read the full article

Hiscox sees rate increases of up to 50%; lowers HIM loss estimate

7th November 2017

Global insurer and reinsurer, Hiscox, has lowered its loss estimate for hurricanes Harvey, Irma, and Maria, and says the events have led to rate increases of between 10% and 50%, and sometimes more, in loss-affected and loss-exposed U.S. property lines. With third-quarter catastrophe events estimated to have cost the industry $100 ... Read the full article

Premature to forecast post-catastrophe rate rises: JLT

7th November 2017

Insurance and reinsurance broker JLT Group said this morning that it is "premature to draw conclusions" as to how much re/insurance rates may rise following the spate of recent catastrophe losses. The brokerage said that due to the timing of both insurance and reinsurance renewals, the impacts of catastrophes including hurricanes ... Read the full article

Reinsurance Group of America backs cryptocurrency startup Bitspark

7th November 2017

Hong Kong domiciled FinTech that provides cryptocurrency brokerage services to global Money Transfer Operators (MTOs), 
Bitspark Limited, has secured funding from Reinsurance Group of America's (RGA) innovation accelerator, RGAx. Bitspark's money exchange technology and placement in the blockchain sector offers a unique perspective on international cash-based remittance transactions. The announced funding from RGAx will see ... Read the full article

AmTrust uses up its $400m Premia loss development reinsurance

7th November 2017

AmTrust Financial Services, Inc. said it has fully utilised the $400 million loss development reinsurance coverage that it entered into with Premia Holdings Ltd. subsidiary, Premia Reinsurance Ltd. in July. The agreement provided AmTrust with adverse net loss reserve development reinsurance protection of up to $400 million, in excess of ... Read the full article

Hampden to offer freehold capacity on Verto Syndicate 2689

6th November 2017

Hampden has agreed with Asta and Lloyd's to offer freehold capacity on Verto Syndicate 2689 for 2018, after reconsidering the terms of participation for the syndicate. Verto's business plan for 2018 has been approved as submitted with capacity of £115 million and an Economic Capital Assessment (ECA) of 92.4% which represents ... Read the full article

Willis Towers Watson appoints Evariste Yeung Head of P&C, North Asia

6th November 2017

Global insurance and reinsurance broker, Willis Towers Watson (WTW), has named Evariste Yeung as Head of Property and Casualty (P&C), North Asia, effective 25th September, 2017. Yeung is based in Shanghai and reports to Managing Director of WTW's Insurance Consulting and Technology business in Asia-Pacific, Richard Collis. In his newly created position, ... Read the full article

Gareth Davies joins Lockton in Bermuda from JLT

6th November 2017

Global insurance and reinsurance broker, Lockton, has announced the appointment of Gareth Davies, formerly Chief Executive Officer (CEO) of JLT Bermuda, as Senior Vice President (SVP), Property, Bermuda. Davies has more than 20 years of property broker experience in Bermuda, and has expertise in facultative reinsurance as well as alternative property ... Read the full article

Swiss Re, Resolution, & Cinven vying for Ergo & Generali life portfolios: Reports

6th November 2017

Reinsurance firm Swiss Re and financial investment firms Resolution Group and Cinven have expressed interest in acquiring two Ergo and Generali German life insurance portfolios, sources told Reuters.  Munich Re's primary insurance affiliate, Ergo, and Generali's German subsidiary are among carriers - increasingly driven by record-low interest rates and stringent ... Read the full article

Cyclone Debbie payouts reach AU$1bn with 85%+ of claims now closed: ICA

6th November 2017

The Insurance Council of Australia (ICA) has revealed that more than 85% of claims from Cyclone Debbie have now closed, totalling AU$1 billion (roughly US$770mn). Data from the ICA shows that overall insurance losses from the event have now reached $1.565 billion (roughly US$1.2bn) from 72,767 claims, making Debbie the second-most ... Read the full article

Property & casualty business now live on PPL

6th November 2017

The Board of PPL Ltd, a core component of the London Market Target Operating Model, has announced that property and casualty lines of re/insurance business are now live on its electronic placement platform. The move means that the area of London market insurance and reinsurance business with the greatest volumes can ... Read the full article

Bruce Love joins Liberty Specialty’s Casualty Treaty division from Munich Re

6th November 2017

Liberty Mutual Insurance subsidiary, Liberty Specialty Markets (LSM), has announced the hiring of Bruce Love from Munich Re as Director, Assumed Reinsurance, Casualty Treaty, based in the firm's Stamford, Connecticut office. Love will report to Thomas Greene, the company's Head of Casualty, Reinsurance, and will have responsibility for production, underwriting and ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.