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EmergIn Risk announces key hires to Miami, NYC offices

14th October 2019

EmergIn Risk, part of Ryan Specialty Group, has appointed David Overton and Ryan Kratz as director of sales and underwriter-cyber, respectively. Based in the EmergIn’s newly opened Miami office, Overton will oversee the development of growth globally and distribution strategy. He brings over 20 years’ experience and joins from Integro Insurance Brokers, ... Read the full article

Climate & tech disruption top CEO concerns in 2019, reports KPMG

14th October 2019

A new report by KPMG has determined that climate change is regarded as the most pressing concern to organisational growth amongst CEOs in 2019, with technological disruption also high on the agenda for re/insurance CEO’s in particular. The study, which surveyed 1,300 CEOs across 11 key markets and 11 industry sectors, ... Read the full article

Lloyd’s, AIR target greater supply chain resilience

10th October 2019

A new framework designed to help both risk managers and insurers close the supply chain risk protection gap has been co-produced by the specialist Lloyd's of London re/insurance marketplace and catastrophe risk modeller, AIR Worldwide. A new report from Lloyd's and AIR Worldwide, Hidden Vulnerabilities in Supply Chain Risk: A quantitative ... Read the full article

Insurers’ post-Brexit European branches generate more business in 2018: IUA

10th October 2019

As London market participants continue to prepare for the uncertain impacts of Brexit, the amount of new business being generated through established European branches and the volume of controlled business written in Europe (excluding the UK and Ireland), increased by more than 9% to £4.89 billion in 2018, reports the ... Read the full article

Munich Re US names Anita Kuchma COO, Reinsurance Division

9th October 2019

Munich Reinsurance America, Inc. (Munich Re US), a subsidiary of reinsurance giant Munich Re, has appointed Anita Kuchma as Chief Operations Officer (COO) of the Reinsurance Division. In her new role, Kuchma will report directly to Steve Levy, President and Chief Executive Officer (CEO) of the Reinsurance Division at Munich Re ... Read the full article

CFC targets improved incident response capabilities with acquisition

9th October 2019

London headquartered specialist insurer, CFC, has expanded its in-house cyber incident response capabilities with the acquisition of Texas-domiciled incident response provider, Solis Security. CFC's large in-house cyber claims and incident response team has handled almost 1,500 cyber claims this year alone. Now, with the addition of Solis Security, CFC has deepened ... Read the full article

Tokio Marine Kiln appoints newly created Head of Intellectual Property

7th October 2019

Tokio Marine Kiln's Aoife Woulfe has been appointed to the newly created position of Head of Intellectual Property (IP), reporting to Head of Enterprise Risk, Laila Khudairi. In her new role, Woulfe will have a focus on developing innovative IP products and wordings, designed to accelerate the expansion of Tokio Marine ... Read the full article

D&O rates improve as carriers push to restore profitability: Fitch

30th September 2019

Premium pricing has improved significantly for directors and officers (D&O) liability in 2019 as carriers work to restore profitability, according to analysts at Fitch Ratings. Fitch noted that D&O liability business has seen several years of weaker performance, driven by flat premium growth and less favourable claims trends in a shifting ... Read the full article

Ascent-Cove rebrands to Optio, adds Ian Beaton as Non-Exec Director

23rd September 2019

Cyber and specialty lines managing general agent Ascent Underwriting and US construction-focused MGA Cove Programs are to be rebranded under the single name Optio. The rebrand aligns with a move to larger premises later this month as Optio looks to build a tech-focused business and set new standards in the insurance ... Read the full article

Pricing, modernisation among top concerns for Lloyd’s CROs: LMA survey

19th September 2019

A market survey by the Lloyd's Market Association in conjunction with PwC has identified pricing, cost reduction, change management, market modernisation, and competition as the top five risks facing Lloyd’s. For Chief Risk Officers within Lloyd’s managing agencies, these internal factors rank ahead of external factors such as cyber risk and ... Read the full article

Ascent, Cove adds Paul Western as CUO

18th September 2019

Cyber and specialty lines managing general agent Ascent Underwriting and Cove Programs, a US construction-focused MGA, has appointed Paul Western as group Chief Underwriting Officer. Effective October 7, Western will oversee the direction, leadership and management of the group’s underwriting and business lines . He joins from MS Amlin, where he served ... Read the full article

AkinovA collaboration makes ILS assets available to ACORD members

17th September 2019

AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, has announced that it has donated key insurance-linked security (ILS) assets to ACORD, the global standards-setting body for the re/insurance industry. The collaboration will mean that AkinovA’s assets will be available to ACORD members as part of the ACORD ... Read the full article

Casualty market disconnected from previous cyclical change: Newman, Willis Re

13th September 2019

In casualty lines of business the reinsurance tail is no longer wagging the primary dog, as the market has disconnected from previous cycle changes, according to Andrew Newman, President of Willis Re. In an interview with Reinsurance News, Newman discussed current dynamics within the casualty reinsurance market and underlined primary insurers’ ... Read the full article

Innovative data & tech enhances mutual value creation for Swiss Re: Eric Schuh

12th September 2019

The use of advanced technology and leading data-analytics supports Swiss Re’s innovation efforts as the global reinsurer keeps clients’ needs at the heart of everything it does, according to Eric Schuh, Global Head of P&C Solutions, Swiss Re. Being one of the largest reinsurers on the planet, Swiss Re has an ... Read the full article

AIR Worldwide estimates insured average annual cat losses at $92bn

12th September 2019

Catastrophe modelling firm AIR Worldwide has estimated that the global modelled insured average annual loss (AAL) from catastrophes worldwide is about US $92 billion. The firm released the figure as part of its 2019 Global Modeled Catastrophe Report, which detailed key loss metrics from AIR’s global industry exceedance probability curve (EP) ... Read the full article