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Protectionism a challenge for re/insurers in emerging and mature markets
18th May 2018
Protectionism in the global insurance and reinsurance industry is often described as a hindrance to both emerging and mature market development, and despite the EU/U.S. covered agreement and other positive regulatory changes across the world, protectionism remains a challenge for industry players. Protectionist measures in the insurance and reinsurance industry were ... Read the full article
Beazley to offer new event cancellation product for charities
10th May 2018
Specialist insurer and reinsurer Beazley has developed a new event cancellation insurance product for registered charities to protect them against costs and loss of revenue related to the events they stage. The coverage has been tailored to charities by recognising income derived from donations made at events, which contribute significantly to ... Read the full article
April storms drive $2.3 billion economic loss in the U.S.
10th May 2018
Impact Forecasting, the catastrophe risk modelling unit of reinsurance broker Aon Benfield, has reported that severe April storms resulted in combined economic losses of $2.3 billion in the U.S., with approximately $1.5 billion of this covered by re/insurance. According to the firm's April Global Catastrophe Recap, five separate storm systems caused ... Read the full article
World Bank Group’s MIGA to share risk with Japan’s NEXI through reinsurance
9th May 2018
MIGA (Multilateral Investment Guarantee Agency), the political risk insurance arm of the World Bank Group, and NEXI, Japan's state-owned export credit agency, have entered an official agreement to share risk, through reinsurance, on investments made by Japanese firms in developing countries. The arrangement will see MIGA and NEXI purchase reinsurance policies ... Read the full article
Malaysian Re adopts AIR Worldwide’s risk modelling platform
8th May 2018
Malaysian Reinsurance Bhd (Malaysian Re) has licensed AIR Worldwide's catastrophe risk modelling platform to help it manage its existing portfolio and assess new risks. Malaysian Re, which is a wholly-owned subsidiary of MNRB Holdings Bhd, will deploy the catastrophe modelling solution to enhance its risk pricing and portfolio management capabilities, and ... Read the full article
Aon names Lambrou Chief Commercial Officer and CEO of Global Specialties
3rd May 2018
Aon plc has announced the appointment of Lambros Lambrou as Global Chief Commercial Officer and Chief Executive Officer (CEO) of Global Specialties for the firm’s commercial risk business. Lambros has over 30 years’ experience in the risk management industry, most of which has been spent working for Aon in various positions ... Read the full article
Swiss Re Corporate Solutions hires Algar from Zurich to head UK & Ireland
1st May 2018
Swiss Re Corporate Solutions, the commercial insurance arm of the global reinsurance firm, has appointed Jake Algar to the role of Head of UK & Ireland. Algar has been hired from competitor Zurich Insurance, where he had worked since 2002 in roles working up to the Head of Global & London ... Read the full article
M&A activity is driving reinsurance demand, says Everest Re CEO
30th April 2018
Dominic Adesso, President and Chief Executive Officer (CEO) of Everest Re, has said that the company has experienced an increase in demand for reinsurance from larger primary insurers, driven by increased mergers and acquisitions (M&A) activity in the sector. Everest Re has also seen cedants increasingly turn to reinsurance solutions to ... Read the full article
Willis Re appoints Guy Carpenter’s Pinette as head of EMEA Life & Health
30th April 2018
Willis Re has appointed Guy Carpenter’s Franck Pinette as Managing Director of its Europe, Middle East, and Africa (EMEA) Life & Health practice. Pinette, who was most recently Chief Executive Officer (CEO) of European Life Reinsurance operations at Guy Carpenter, will now lead Willis Re’s development in the rapidly growing life ... Read the full article
Markel expands Singapore team with new Trade Credit Underwriter
26th April 2018
Specialist insurer and reinsurer Markel International has expanded its Singapore team with the appointment of Nicholas Davies as Trade Credit Underwriter and Senior Risk Analyst. In his new roles, Davies will be responsible for developing Markel’s portfolio across the Asia Pacific region, and for managing existing broker and client relationships. He has ... Read the full article
Negative reserve developments push QIC’s combined ratio above 100% in Q1
26th April 2018
Qatar Insurance Company (QIC) has reported that its combined ratio exceeded 100% in the first-quarter of 2018 as a result of negative reserve developments on certain older contracts, which pushed down its underwriting result to $32 million. QIC is one of the leading insurers and reinsurers in Qatar, the Middle East ... Read the full article
Swiss Re joins global alliance to support smallholder farmers
25th April 2018
Swiss Re Corporate Solutions has launched a new global initiative in collaboration with World Bank Group member IFC, pharmaceutical and life sciences company Bayer, and irrigation manufacturer Netafim, which aims to support smallholders grow their farms into sustainable, commercially viable businesses. The initiative, called Better Life Farming, will offer risk transfer ... Read the full article
RGA adds two to Board of Directors
24th April 2018
International life and health reinsurer, Reinsurance Group of America (RGA), has announced the appointments of John J. Gauthier and Hazel M. McNeilage to its Board of Directors, effective July 2018. The pair join RGA as independent directors, and their addition takes the total number of RGA directors to 11. Gauthier brings almost 30 years ... Read the full article
Brockwell Capital completes London team with Graham and Goodair hires
20th April 2018
Brockwell Capital, a recently established UK re/insurance company that covers mergers and acquisitions (M&A) risks, has added senior underwriters Andrew Graham and Alec Goodair to its London team. The addition of Graham and Goodair completes Brockwell's London team, which had previously exclusively consisted of Lee Amerigo and Lana Soroko, who launched ... Read the full article
Re/insurers’ role to expand as risk landscape evolves: SCOR
18th April 2018
French reinsurance giant SCOR has highlighted a number of trends expected to impact reinsurers over the next decade, creating opportunities in a rapidly changing risk landscape, but also potential challenges if not fully understood and embraced. In its report on the expanding risk universe, SCOR highlighted major trends impacting the globe ... Read the full article