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Insurance Europe voices support of EC’s sustainable finance goals

25th July 2017

Following the release of a report from the European Commission’s (EC) High-Level Group on Sustainable Finance, and a recent EC public hearing, Insurance Europe has said the insurance industry is ready to collaborate and engage with policymakers to support their goals. The EC's High-Level Group on Sustainable Finance was launched in ... Read the full article

Beach names Julian Goldberg as senior Vice President

25th July 2017

Beach & Associates has named Julian Goldberg, joining from RenaissanceRe Syndicate 1458, as newly appointed Senior Vice President (SVP). As Beach SVP Goldberg will be London-based, reporting to partner, Adam Hedley, and will help steer the firm's growth and management of its casualty reinsurance business and product development. Hedley commented; “Beach’s growing ... Read the full article

ITI Reinsurance calls on the IRDAI to level the playing field

25th July 2017

India's first private reinsurance firm, ITI Reinsurance, is reportedly considering whether to surrender its licence as it feels regulations implemented by the Insurance Regulatory and Development Authority of India (IRDAI) hinder the growth and development of new reinsurers, according to reports from the region. Reports from India, citing a discussion between industry executives ... Read the full article

Sirius strengthens casualty team with Erik Soria as new Vice President

25th July 2017

Sirius Group has strengthened its casualty reinsurance team with the appointment of Erik Soria, who joins from QBE Re Bermuda, to Vice President of Casualty. In his Bermuda based role, Erik will underwrite the firm's casualty portfolio, reporting to Sirius Bermuda CEO Warren Trace. Trace commented on the appointment; “I have known ... Read the full article

Swiss Re reinsures life portfolio for Bansabadell Vida

25th July 2017

Swiss Re has entered into a reinsurance arrangement with Zurich subsidiary Bansabadell Vida which will see the firm reinsure and take on the risks of a portfolio of individual life risks, in return for a reinsurance commission payment of EUR 683.7 million. Bansabadell Vida is a Spanish life insurance joint venture ... Read the full article

Everest Re’s continued growth drives profits higher

25th July 2017

Global reinsurance firm Everest Re is the first of the majors to report second-quarter 2017 earnings and the statement shows that the expansive underwriter continues to find opportunities for growth, with premiums written up 17%, helping to drive profits higher, with after-tax income rising almost 70% to $227.5 million. President and ... Read the full article

McLaughlin named EVP & Property Manager, NA Commercial Insurance, Chubb

24th July 2017

Michelle McLaughlin has been named as the new Executive Vice President (EVP) and Property Manager for property and casualty insurer, Chubb's North America Commercial Insurance unit, replacing Edward Radzinski. McLaughlin has 25 years of experience working with Chubb, and most recently held the position of Package Property Manager for Commercial Insurance. In her new role, she ... Read the full article

Brit agrees on XL Catlin exclusive yacht portfolio renewal rights deal

24th July 2017

Brit Global Specialty USA (BGSU) has reached an agreement for exclusive renewal rights to part of XL Catlin's directly written yacht portfolio. Under the agreement, Brit BGSU’s Yacht team will service legacy Catlin policies written before the firm's acquisition by XL until expiration, and then provide eligible customers with renewal quotes. Matthew Wilson, CEO, ... Read the full article

InsurTech spending up 248% to near $1 billion in Q2: Willis

24th July 2017

Willis Towers Watson has released its second quarterly InsurTech Briefing, revealing a stark increase of 248%, or nearly $1 billion in InsurTech investment from the first quarter and pointing to insurance claims management streamlining as the biggest opportunity for reinsurers. The 2017 second quarter (Q2) was characterised by a record number of transactions ... Read the full article

Liberty Specialty Markets hires new casualty reinsurance underwriter

24th July 2017

Liberty Specialty Markets (LSM), the London headquartered unit of Liberty Mutual Insurance Group, has hired Angus Hampton as an Underwriter for the firms Casualty Reinsurance Division. Hampton, who moves over from Ascot where has worked as an assistant underwriter since 2014, will be based in Liberty Specialty Market's London headquarters and ... Read the full article

Howden strengthens Asia presence with Sterling Knight acquisition

24th July 2017

Hyperion Insurance Group's retail broking unit, Howden, has completed the acquisition of Singapore-based specialist broker, Sterling Knight, after receiving regulatory approval from the Monetary Authority of Singapore (MAS). Brokerage Sterling Knight specialises in specie and international employee benefits, and the firm's clients include multinationals and SMEs. After the acquisition, Sterling Knight ... Read the full article

Re/insurers in South Africa adapt to growing severe weather risk after Cape Town fire

24th July 2017

South Africa re/insurers and government will have to adapt pricing and policies and step up risk mitigation efforts after the recent Cape Town wildfire, that's expected to cause a hardening of the market, demonstrated the growing risk of increasing size and scale of severe weather events. Christo Rautenbach, a coastal modeller at ... Read the full article

UK seeks to keep reinsurance market competitive with new ILS rules

24th July 2017

The UK government has announced updates to its regulatory and tax regime for Insurance Linked Securities (ILS) as it seeks to ensure the re/insurance business environment remains competitive throughout the transition out of European Union membership. The regulatory reforms cover how to set up an ILS vehicle, the associated taxation system ... Read the full article

Swiss Re becomes first to offer typhoon warning cover

24th July 2017

Swiss Re has become the first reinsurer to offer cover for losses related to typhoon warning for Hong Kong businesses, where the overall impact of this level of typhoon warning to Hong Kong's economy is estimated at U.S. $627 million a day. The typhoon cover, Insur8, indemnifies against loss of earnings ... Read the full article

IRB Brasil RE licenses RMS’ China & India agricultural models

24th July 2017

Brazilian reinsurer, IRB Brasil RE, has licensed RMS' China and India agricultural models in an effort to expand its presence in the global reinsurance market. Global catastrophe risk modeller and analytics firm, RMS, announced recently that IRB Brasil RE has licensed the RMS® China Agricultural Model and RMS® India Agricultural Model, as ... Read the full article

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