Reinsurance News
Insurance news
Insurance news of relevance to the reinsurance market.
Our focus is on insurance and reinsurance news for large account, commercial and specialty lines, as well as pure reinsurance and retrocession news, analysis, insight and interviews.
AF Group launches new P&C fronting carrier brand, hires Eric Halter
23rd June 2017
Insurance solutions provider AF Group is expanding into the fronting carrier space, with a new division named AF Specialty set to offer fronting capacity to insurance carriers, managing general agents, reinsurance intermediaries and captive managers. Fronting for other capacity providers has been the trend in recent years, but AF Specialty will ... Read the full article
HCI Group to expand flood insurance offering to nine additional states
23rd June 2017
HCI Group announced its begun the regulatory process to expand flood insurance from its sole Florida market into nine additional states including Arkansas, California, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, and Texas. Paresh Patel, HCI Group’s chairman and chief executive officer, said; “A core part of our long-term ... Read the full article
Bart Hedges named to Trisura board after spinoff from Brookfield Asset Management
23rd June 2017
Trisura Group, an international specialty provider of surety, risk solutions, corporate insurance and reinsurance products, has named ex-Greenlight Capital Re CEO Bart Hedges to its board, just a day after its spinoff from investor Brookfield Asset Management Inc. Yesterday Trisura revealed that it had completed the spinoff from Brookfield and its ... Read the full article
Epsilon Underwriting Agency appoints new Chairman and Chief Underwriting Officer
22nd June 2017
Epsilon Underwriting Agency has announced two major appointments, naming Paul Lynam as new Chairman, and Paul O’Leary as new Chief Underwriting Officer, with effect from 1 July 2017. Morgan welcomed the new appointees; “both Pauls bring with them a wealth of experience and market presence both here in Australia and in particular the Lloyd’s ... Read the full article
Generali Group appoints Bruno Scaroni to lead business transformation
22nd June 2017
Generali Group has appointed Bruno Scaroni to new group strategy and business accelerator director, with effect from July 1st 2017. Generali Group CEO Philippe Donnet, said; "I am very glad to welcome Bruno Scaroni. Thanks to his experience in different fields of the insurance sector, he will contribute to the acceleration ... Read the full article
Grenfell Tower fire insurance loss estimated at up to £1 billion
22nd June 2017
Media reports in the UK now suggest that the tragic fire in the Grenfell Tower apartment building in London’s Royal Borough of Kensington and Chelsea, could lead to an insurance industry loss of as much as £1 billion. The Times newspaper first reported that the Grenfell Tower fire could cost anywhere ... Read the full article
Deutsche Bank hires Meir Lewis as MD & Head of Insurance Investment Banking
22nd June 2017
Deutsche Bank has hired Meir Lewis from Morgan Stanley as a Managing Director and Head of Insurance Investment Banking. Prior to his appointment Lewis served Morgan Stanley's North America Insurance sector providing investment banking coverage that focused on large-cap P&C carriers, specialty mid-cap companies, and life and reinsurance clients. Lewis will be based ... Read the full article
Universal gets greenlight for New York underwriting operations
21st June 2017
The New York State Department of Financial Services has given Universal Insurance Holdings approval to begin underwriting property insurance in New York through its wholly-owned subsidiary Universal Property & Casualty Insurance Company (UPCIC). Universal Insurance Holdings Chairman and Chief Executive Officer Sean P. Downes said this marks an important step in ... Read the full article
B.P. Marsh invests in Ruggieri backed distribution startup XPT
20th June 2017
B.P. Marsh & Partners has invested $6 million into a New York based specialty lines insurance distribution company, XPT Group LLC (XPT). The investment represents a 35% shareholder gain in insurance distributor XPT, described as "a newly established operation which is in active discussions with a number of parties over potential minority or majority investments ... Read the full article
Neon buys Guernsey MGA Sapphire Underwriters
14th June 2017
Insurance and reinsurance specialist Neon has acquired a Guernsey-based managing general agent (MGA) Sapphire Underwriters, as it builds an international footprint in offshore re/insurance markets. Neon acquired Sapphire from its current owners Heritage Group. Following completion of the acquisition, the MGA will operate under a brand of Neon Sapphire, with its ... Read the full article
Chubb expands terror, political violence & war insurance capacity to $150 million
13th June 2017
International property and casualty insurer Chubb has announced plans to increase its capacity from $100 million to $150 million to boost its coverage capabilities for terrorism, political violence and war insurance. The insurer said the move comes in response to evolving threats and increased demand from multinational clients and was made ... Read the full article
Robert Paiano to succeed The Hartford’s retiring CRO Robert Rupp
13th June 2017
The Hartford has named Robert Paiano as Chief Risk Officer (CRO) set to succeed current CRO Robert Rupp, after he retires. Paiano will report to the Hartford’s Chairman and Chief Executive Officer (CEO) Christopher Swift, his appointment is effective from July 1st, 2017. Swift thanked outgoing CRO Rupp for his "service and dedication," commenting ... Read the full article
W.R. Berkley Corporation launches surety and specialty units in Mexico
13th June 2017
W.R. Berkley Corporation has announced the formation of two units focusing on surety and specialty commercial, Berkley International Fianzas México S.A. and Berkley International Seguros México S.A., after receiving authorization to start operating by Mexican regulator Comisión Nacional de Seguros y Fianzas (CNSF). Berkley International Fianzas México S.A. will focus on surety business with Guillermo ... Read the full article
Rod O’Malley joins StarStone as new head of cargo from XL Catlin
12th June 2017
Global specialty insurer StarStone has today announced the appointment of Rod O’Malley, who joins from XL Catlin, as head of cargo in London. As head of cargo he will report to global head of marine Simon Schnorr, who welcomed O'Malley to the team; “Rod joins us to build on StarStone’s strong existing cargo foundations ... Read the full article
A U.S. flood reinsurance market boom? S&P Global
9th June 2017
The upcoming reauthorization of the National Flood Insurance Program (NFIP) has created a flurry of renewed interest in U.S. flood reinsurance, but with social and political uncertainties and the nature of flood risk itself remaining as significant obstacles, what kind of market growth is realistic for the foreseeable future? In a recent ... Read the full article
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