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40% chance of a near-normal 2019 Atlantic hurricane season: NOAA
24th May 2019
The NOAA's Climate Prediction Center has produced its latest outlook for the 2019 Atlantic hurricane season, forecasting a 40% chance of a near-normal season. The NOAA's outlook forecasts a 30% chance of an above-normal season and a 30% chance of a below-normal season, which officially runs from June 1st to November ... Read the full article
Munich Re enters global telematics partnership with The Floow
20th May 2019
Munich Re has entered into a new global partnership with The Floow, a provider of telematics solutions and a data refinery for re/insurers and manufacturers in the motor industry. Under the arrangement, The Floow’s portfolio of solutions and capabilities can be provided to insurance clients around the world, while also strengthening ... Read the full article
Ping An growth helps China overtake as most valuable insurance market: Brand Finance
17th May 2019
China has overtaken the U.S as the largest global insurance market in terms of brand value, according to valuation consultancy Brand Finance, in part due to the continued growth of Chinese insurance giant Ping An. Ping An, which outpaced Allianz to become the world’s most valuable insurance brand in 2017, grew ... Read the full article
Warmer climate is driving higher re/insurance costs: Swiss Re report
16th May 2019
Rising global temperatures due to climate change have heightened the risk of costly events such as wildfire and drought and significantly impacted the level of re/insurance industry losses in recent years, according to the latest sigma report by Swiss Re. Swiss Re expects that climate change will cause more frequent occurrences ... Read the full article
Kenya Re to establish Uganda office in expansion push
15th May 2019
Kenya Reinsurance Corporation (Kenya Re) intends to establish a new subsidiary in Uganda as part of its strategy of expansion into new markets. Shareholders are set to vote on the proposal at the reinsurer’s annual general meeting (AGM) on June 14. "That the company be and is hereby authorised to establish a ... Read the full article
Re/insurers set to pay $1 billion+ for April nat cats: Aon
13th May 2019
The latest global catastrophe recap report from insurance and reinsurance broker, Aon, reveals that insurers and reinsurers are set to pay out more than $1 billion in losses from natural disaster events that occurred in the month of April 2019. Aon's April, global catastrophe recap report highlights an extremely active month ... Read the full article
Munich Re’s Thurnim appointed Treaty Director at THB Europe
13th May 2019
Specialist insurance and reinsurance broker THB Group has appointed Zamira Thurnim to the position of Treaty Director for the company’s European operations, effective immediately. Based in the Netherlands, Thurnim will also work extensively across the growing THB markets throughout Africa. She joins from Munich Re, where most recently she held the role ... Read the full article
Allianz (AGCS) makes senior appointments to alternative risk transfer unit
9th May 2019
Allianz Global Corporate & Specialty SE (AGCS) has announced that Grant Maxwell, current Head of Alternative Risk Transfer (ART) for its Regional Unit London (RUL), is to move into a newly created global role as Head of Underwriting and Portfolio Management. Additionally, Dan Tomlinson, currently a senior ART underwriter in London, ... Read the full article
Guy Carpenter announces numerous senior appointments
8th May 2019
Reinsurance broker Guy Carpenter has announced a number of international leadership appointments in light of Marsh & McLennan Companies' acquisition of JLT. The appointments are effective immediately and the reinsurance broker says that they reflect its efforts to align the firm's structure, and integrate the capabilities of JLT Re, ultimately creating ... Read the full article
Angolan national reinsurance company close to launch: reports
8th May 2019
The African nation of Angola is close to finalising the creation of a national reinsurance company, according to reports from Macauhub. AngoRe will be a partnership between the Angolan State and domestic and foreign private investors. Aguinaldo Jaime, the President of the sector regulator, stated on Monday that the new company should ... Read the full article
Ata Khatib appointed CEO of Lockton MENA
6th May 2019
Re/insurance broker Lockton has announced the appointment of Ata Khatib as Chief Executive Officer of Lockton MENA Limited, its business for the Middle East and North Africa regions. Based in the Dubai International Financial Centre (DIFC), Khatib will be tasked with overseeing Lockton’s broking subsidiaries in the area. Khatib helped to set ... Read the full article
Chubb’s Tony Jordan joins AXIS Capital as Group Chief Actuary
2nd May 2019
AXIS Capital Holdings Limited has appointed global re/insurer Chubb's Tony Jordan as its new Group Chief Actuary, reporting to Peter Vogt, AXIS Capital's Group Chief Financial Officer (CFO). Based in the firm's London office, Jordan will be responsible for overseeing AXIS Capital's corporate actuarial function, which includes reserving functions, capital modelling ... Read the full article
UK broker NDI opens new London office, expands internationally
1st May 2019
NDI, an insurance and reinsurance broker based in Norwich, UK, has announced that it is expanding its international presence and moving its London office into The Gherkin in the city’s financial district. Established in 1995, NDI places reinsurance for sectors including the property, construction, aviation, marine, liability and health sectors with ... Read the full article
SCOR & AXA commit to more coal exclusions
26th April 2019
French re/insurers SCOR and AXA have both committed to strengthening their coal exclusion policies in an effort to limit the effects of climate change, according to environmental campaigners at Unfriend Coal. A representative from the activist group questioned the companies at their annual general meetings this week, who both claimed to ... Read the full article
Arig investigation uncovers “glaring deficiencies” in governance
24th April 2019
An investigation into Arab Insurance Group (Arig), a Bahrain-domiciled treaty and facultative reinsurance provider, by the Central Bank of Bahrain has uncovered “glaring deficiencies” in the company’s governance framework. The regulator conducted an onsite examination of the reinsurer after A.M. Best downgraded and withdrew its credit ratings for Arig last month ... Read the full article