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Swiss Re confident about transition to autonomous vehicles, reports Deutsche Bank

29th June 2018

As the largest global motor reinsurer, Swiss Re sees itself as well placed to benefit from anticipated structural changes to the market as the industry prepares to transition to autonomous vehicles, according to Deutsche Bank. Speaking at Deutsche Bank’s third dbAccess AutoTech day in London, representatives from Swiss Re explained that ... Read the full article

LMA Personal Accident Commitee appoints Stephan Ranzetta & Paul De Vido

22nd June 2018

Lloyd’s Market Association (LMA) has announced that Stephen Ranzetta and Paul De Vido have been elected to its Personal Accident Commitee, following a recent ballot at Lloyd’s. Da Vido is a senior class underwriter, A&H at XL Catlin while Ranzetta serves as class underwriter, A&H at Vibe Syndicate Management. The pair ... Read the full article

Parametric re/insurance potential in commercial risks highlighted

21st June 2018

A new report from Airmic in collaboration with reinsurance giant Swiss Re's commercial insurance arm and insurance and reinsurance brokerage Marsh, highlights the potential for parametric re/insurance solutions to become more mainstream in the commercial space. Parametric insurance remains more common place in the alternative reinsurance, or insurance-linked securities (ILS) sector, ... Read the full article

Commercial insurance industry must adapt to secure longevity: Airmic CEO Ludlow

21st June 2018

The commercial insurance industry’s longevity relies on its adaptability to emerging challenges unique to the fourth industrial revolution, according to Airmic Chief Executive Officer (CEO), John Ludlow. Speaking at Airmic’s annual conference in Liverpool, Ludlow pointed out that rapidly changing business models and the rise of cyber-technology is creating new risk ... Read the full article

Sompo rolls out Transaction Risk insurance across Europe

15th June 2018

Bermudian re/insurers Sompo International Holdings has announced the launch of a new Transaction Risk Insurance line of business through its European Speciality platform, expanding its current Professional Lines insurance offerings in Europe. The program targets parties - both public and private - domiciled or conducting its core business throughout Europe, on ... Read the full article

Chubb appoints Goldman as Executive VP of Overseas General Insurance

13th June 2018

Property and Casualty (P&C) insurer Chubb has announced the appointment of Steven F. Goldman as Executive Vice President (VP), Financial Lines for Overseas General Insurance, effective July 1. In his new New York-based role, Goldman will oversee Chubb’s international financial lines division including directors and officers liability, financial institutions, errors and ... Read the full article

Beazley considers GDPR implications of Dixons Carphone data breach

13th June 2018

Beazley has considered the potential General Data Protection Regulation (GDPR) implications of a recently reported data breach at Dixons Carphone, which involved 5.9 million payment cards and 1.2 million personal data records. Dixons Carphone said there was no evidence that any of the cards had been used fraudulently following the breach, ... Read the full article

New technologies to stimulate struggling engineering sector: Swiss Re

13th June 2018

The adoption of new technologies in construction could lead to significant improvements in efficiency for engineering insurance, a sector that has largely stagnated in recent years, according to a new study by Swiss Re’s sigma. Global engineering insurance premiums were estimated to total around $21 billion in 2017, but have suffered ... Read the full article

Argo establishes new construction business unit

12th June 2018

Bermuda-based speciality re/insurance underwriter Argo Group International Holdings (Argo Group) has announced it is establishing Argo Construction as a stand-alone underwriting business, in reaction to the rapidly growing construction sector. Under the leadership of Jim Cornwall, Senior Vice President (VP), Argo Construction will provide contractors with project-specific and ongoing coverage, including ... Read the full article

Global economic output at risk from man-made events larger than nat cats: Lloyd’s

7th June 2018

A collaborative study by Lloyd’s of London and Cambridge University suggests man-made risks like cyber-crime, interstate conflicts and market crashes are a bigger threat to global economic output than natural disasters such as hurricanes, floods, earthquakes and volcanoes. Lloyd's City Risk Index, mapping 22 threats across 279 cities - the "key ... Read the full article

Increasing number of firms using captives to finance emerging risks: Marsh

5th June 2018

Leading insurance broker and risk management solutions firm, Marsh & McLennan, has released a report that reveals captive insurance vehicles’ growing popularity among risk managers seeking alternative ways to finance emerging risks. 1,100 captives managed by Marsh Captive Solutions globally were examined by Marsh’s 2018 Captive Landscape Report. The study found a ... Read the full article

CFO appointment bolsters Ascent Underwriting’s senior team

5th June 2018

London-headquartered Ascent Underwriting has announced the appointment of Rob Harden as its new Chief Financial Officer (CFO), subject to regulatory approval. Harden has over 20 years experience in the industry - including senior finance and corporate development roles at Liberty Specialty Markets, Beazley, QBE and Close Brothers - and joins from ... Read the full article

Beazley splits specialty lines into two divisions led by Eaton and Donovan

4th June 2018

Specialist and Lloyd’s focused re/insurer Beazley plc has completed a split of its specialty underwriting unit into two separate divisions, which places the cyber risk practice at the firm outside of specialty risks and into a new unit aligned on technology, media, business and management liabilities. Beazley has been reorganising its ... Read the full article

Envelop Risk adds former XL CEO Brian O’Hara to Board of Directors

31st May 2018

Envelop Risk, a global specialty cyber re/insurance analytics and underwriting firm, has appointed Brian O’Hara, former Chairman and Chief Executive Officer (CEO) of XL Capital Ltd (now XL Group), to its Board of Directors. O’Hara served as President and CEO of XL from 1994 until 2008, and as Chairman of XL’s ... Read the full article

Essent Group add experience to Board of Directors with new additions

31st May 2018

Bermuda-domiciled Essent Group has announced the appointment of Jane P. Chwick and Angela Heise to its Board of Directors. Commenting on the appointment, Mark Casale, Chairman and Chief Executive Officer (CEO) said, “We are very pleased to have Jane and Angela join our Board of Directors, They both bring tremendous depth ... Read the full article