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Senegal to receive at least $22mn from ARC following drought conditions
5th September 2019
The Government of Senegal is set to receive at least $22 million from the African Risk Capacity Insurance Limited (ARC Ltd) to cover losses from crop failures driven by drought in the 2019 agricultural season. In August 2019, Africa RiskView, the software underpinning the Arc parametric model, informed the Government of ... Read the full article
Convex signs up Clearwater for investment accounting & reporting
3rd September 2019
Convex Group, the international specialty insurance and reinsurance firm established by Stephan Catlin and Paul Brand, has signed up Clearwater as a provider of investment accounting, reporting and related data services. Convex, which launched with $1.8 billion of initial committed capital of which $1.6 billion is currently drawn, has chosen ... Read the full article
Trans Re promotes Andy Taylor to regional CUO oversight role
23rd August 2019
Transatlantic Holdings (Trans Re), the reinsurance arm of the Alleghany Corporation, has announced the appointment of Andy Taylor as Chief Underwriting Officer for its London, Continental Europe, Middle East and Asia Pacific businesses. The decision follows numerous changes made recently to its regional leadership teams, including the appointment of Louise ... Read the full article
HDI Global adds Zurich’s Yves Betz to management board
22nd August 2019
HDI Global SE, the industrial insurer of the HDI Group, has announced the appointment of Yves Betz to its management board, who will take over responsibility for the company’s business in Europe and North and South America. As of 1 December 2019, he will succeed Stefan Sigulla, who is stepping down ... Read the full article
Demand for W&I cover in EMEA rises as claims notifications spike: Marsh
19th August 2019
Marsh has released its Transactional Risk Insurance Claims study, which reveals that since 2016, warranty & indemnity (W&I) claims notifications across Europe, the Middle East and Africa (EMEA) have increased significantly. Insurance and reinsurance broker Marsh notes that claims notifications have increased by 293% from 2016 to 2018, adding that this ... Read the full article
Swiss Re estimates insured nat cat losses of $15bn in H1 2019
15th August 2019
Global reinsurance giant Swiss Re has estimated that natural catastrophe events in the first-half of 2019 resulted in insured losses of $15 billion, down from the $21 billion recorded in the first-half of 2018. Overall, insured losses from catastrophes amounted to $19 billion in H1 2019, with $15 billion, or 79% ... Read the full article
AXA XL’s Gino Smith joins AXIS Re as Head of Property, EMEA LatAm
14th August 2019
Gino Smith has joined AXIS Re, the reinsurance arm of Bermuda's AXIS Capital Holdings Limited, as Head of Property for EMEA LatAm, effective November 2019. In his new role he will be based in Zurich and will report to President of EMEA LatAm, Andy Hottinger. Smith will take oversight of the reinsurer's ... Read the full article
Swiss Re to open Ivory Coast underwriting office
13th August 2019
Global reinsurance giant Swiss Re is set to open an underwriting office in Abidjan, Ivory Coast following regulatory approval from the Inter-African Conference of Insurance Markets (CIMA). Expected to be fully operational by October 1, the office will be headed by Swiss Re’s current Head of West Africa, Awa Koné. Swiss Re ... Read the full article
TransRe announces regional leadership changes
12th August 2019
TransRe has announced numerous changes to its regional leadership teams, including the appointment of Louise Rose as Chief Executive Officer (CEO) of TransRe London Limited (TransRe London). Her appointment is effective September 1st, 2019 and sees Rose take over from Geoff Peach, who is retiring after 27 years with TransRe. Rose's appointment, ... Read the full article
Fairfax promotes Jennifer Allen to group CFO
9th August 2019
Re/insurance holding company Fairfax Financial Holdings has announced the appointment of Jennifer Allen as the group’s Chief Financial Officer. Allen succeeds John Varnell, who will cease serving as CFO in an interim capacity and continue on as Vice President, Corporate Development of Fairfax. She has been with Fairfax for over 13 years, ... Read the full article
Qatar Re & international carriers continue to expand for QIC in 2019
6th August 2019
Qatar Insurance Company's (QIC) international carriers, including its reinsurance arm Qatar Re, continued to expand in the first-half of 2019 and now account for around 75% of the group's total gross written premiums (GWP). At approximately $1.8 billion, QIC's GWP remained stable in the first-half of 2019 when compared with the ... Read the full article
Chubb names Ortega EVP, Chubb Group & President, Overseas General Insurance
1st August 2019
Insurer and reinsurer Chubb has revealed that Juan Luis Ortega is to succeed Juan Andrade as Executive Vice President (EVP), Chubb Group and President, Overseas General Insurance, effective immediately. Ortega is currently Senior Vice President (SVP), Chubb Group and Regional President of Latin America, and in his new role will report ... Read the full article
Willis Towers Watson acquires specialist M&A broker Risk Capital Advisors
1st August 2019
Willis Towers Watson said this morning that it has acquired Risk Capital Advisors, a leading mergers & acquisitions broking specialist focused on business in Australia, New Zealand and South Africa. Adding to its specialist insurance and reinsurance broking capabilities and broadening its reach globally, has been part of the strategy for ... Read the full article
Metabiota promotes Nita Madhav to CEO
30th July 2019
Epidemic risk modeller Metabiota has announced the promotion of Nita Madhav as its new Chief Executive Officer (CEO). Madhav most recently served as the firm's Vice President (VP) of Data Science, and her promotion sees Metabiota appoint its first female CEO. As VP of Data Science, Madhav led the data science ... Read the full article
H1 insured cat losses hit 12-year low at $20bn: Aon
25th July 2019
Insured catastrophe losses totalled just $20 billion during the first half of 2019, marking the lowest level of average losses since 2006, according to re/insurance broker Aon. Industry losses were 45% below the 10-year average of $28 billion and 26% lower than the 21st Century average of $25 million, but still ... Read the full article