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“Interesting” 1/1 market dynamics to continue into April: Aon

11th January 2019

Re/insurance broker Aon has said that the “interesting” market dynamics that affected reinsurance pricing at the recent 1 January renewals are likely to continue to influence rates throughout the coming year. The company’s ‘Reinsurance Market Outlook 2019’ report noted that reinsurance buyers continue to secure protection at accretive cost of capital ... Read the full article

Cat modellers can learn from tech industry: Simplitium’s Lay & Jones

10th January 2019

With recent developments driving the need for ever more efficiency in the re/insurance industry, catastrophe modellers could benefit from emulating the approach of the technology sector, according to Simplitium’s James Lay and Matthew Jones. Lay and Jones noted that cost reduction was a central theme for many re/insurers during 2018, as ... Read the full article

Beazley targets Hong Kong expansion via Pegasus Underwriting partnership

10th January 2019

Specialist re/insurer Beazley has announced that it plans to expand its insurance offering in Asian markets through a new financial lines capacity arrangement with Hong Kong-based coverholder Pegasus Underwriting Limited (PUL). Beazley hopes to combine its expertise in underwriting specialist risks with PUL’s strong broking relationships and knowledge of the regional ... Read the full article

Hannover Re & HDI Global launch new specialty insurance venture

8th January 2019

HDI Global Specialty SE, a new specialty lines insurer launched as a collaborative venture between Hannover Re and HDI Global, commenced underwriting at the beginning of the year with premium volumes in excess of €1 billion. The insurer was formed after HDI Global and Hannover Re, which are both part of ... Read the full article

AXIS Capital CEO Albert Benchimol elected Chair of ABIR

7th January 2019

The Association of Bermuda Insurers & Reinsurers (ABIR) has concluded its biennial election process, securing new officers for 2019-20, with the President & Chief Executive Officer of AXIS Capital, Albert Benchimol, appointed Chair. Marc Grandisson, President & CEO Arch Capital Group joins as Deputy Chair whilst Kean Driscoll, CEO of Validus ... Read the full article

Big data, price optimisation to face closer scrutiny: Moody’s

4th January 2019

The practice of price optimisation, in which an insurer establishes individual profiles through analysis of data not directly provided by the consumer, may come under scrutiny by the Financial Conduct Authority as it can result in individuals paying widely different prices for the same insurance cover, according to Moody’s investors ... Read the full article

Pricing broadly stable across U.S casualty renewals, finds Willis Re

3rd January 2019

The latest 1st View report from Willis Re has found that U.S casualty reinsurance pricing trends were mixed at the 1 January 2019 renewals, with pockets of rate increases and decreases across a broadly stable market. The findings came as part of the broker's wider market analysis, which found that Read the full article

Beazley appoints Harry Goh, Jessica Schappell to Singapore office

14th December 2018

Specialist re/insurer Beazley has announced the appointments of Harry Goh and Jessica Schappell to its Singapore office, effective January 2019. Goh brings over 20 years' experience in underwriting professional indemnity and medical malpractice risks in Singapore and joins as an Underwriter of international financial lines. He will be responsible for underwriting a ... Read the full article

Ascent Underwriting adds Alex Smith as head of transactional risk

13th December 2018

Cyber and specialty lines managing general agent (MGA), Ascent Underwriting, has announced the appointment of Alex Smith as head of transactional risk, effective February 2019. He joins from Capital Risks where he served as Underwriting Director and was previously an underwriter at AIG within the mergers and acquisition (M&A) insurance group. Smith ... Read the full article

AkinovA adds Tokio Marine’s Daljitt Barn to Advisory Board

13th December 2018

AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of Daljitt Barn to its Advisory Board. Barn is the Global Head of Cyber Risk for Tokio Marine Group and an industry leader in cyber insurance and cyber risk, combining insurance value-chain expertise with a ... Read the full article

Demand for non-life reinsurance to increase in 2019: A.M. Best

11th December 2018

Demand for non-life reinsurance is expected to increase over 2019, according to A.M. Best, due primarily to factors such as the return of U.S economic growth, as well as global growth and benefits from the U.S federal tax reform. Analysts at A.M. Best believe these conditions will provide opportunities for organic ... Read the full article

Swiss Re Corp Solutions appoints Aerni as Global Head of Casualty, FinPro Lines

7th December 2018

Swiss Re Corporate Solutions, the commercial insurance arm of Swiss Re Group, has appointed Phillippe Aerni as Global Head of Casualty, Financial & Professional Lines, effective 1 January 2019. Based in Zurich, Aerni will assume the Global Casualty role from Daniel Vetter, who moves into the role of Head E&S North ... Read the full article

Lloyd’s must adapt and innovate to remain relevant in the future: Carnegie-Brown

6th December 2018

The Chairman of the Lloyd's of London specialist insurance and reinsurance marketplace, Bruce Carnegie-Brown, has called on the marketplace to innovate in order to improve relevance to customers in the rapidly evolving risk transfer space. Delivering a key note speech at the Lloyd's building yesterday on Lime Street, London, Carnegie-Brown said ... Read the full article

A.M. Best stable on reinsurance for 2019

6th December 2018

Global ratings agency A.M. Best has revised its outlook for the global reinsurance industry to stable from negative for 2019, driven by the convergence of traditional and third-party, or alternative reinsurance capital among non-life players. The ratings agency's revised outlook is also a result of more stable pricing, albeit at levels ... Read the full article

Digitalisation is resulting in more customer-centric insurance: GA report

5th December 2018

The increasing digitalisation of the economy is resulting in a shift from insurance that is primarily concerned with loss indemnification to one that provides a broader advisory service for customers on how to prevent, mitigate and manage risks, according to a report by international re/insurance think-tank The Geneva Association (GA). New ... Read the full article