Reinsurance News
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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.
Jardine & Clementi added to Lloyd’s Market Association board
19th January 2017
The Lloyd's Market Association (LMA) has appointed Paul Jardine and Tom Clementi to the LMA Board with immediate effect, replacing Andrew McMellin and Andrew McKee, who both stepped down towards the end of 2016. Paul Jardine is the Chief Executive Officer (CEO) of Syndicate 2003 and Catlin Insurance Company Ltd, and ... Read the full article
Lloyd’s gets final approval, will launch in India before April reinsurance renewals
19th January 2017
The specialist Lloyd's of London insurance and reinsurance marketplace has received final approval from the Insurance Regulatory Development Authority of India (IRDAI) to establish a regional branch, and the market has said that it will open its new, Indian office in time for the April 2017 reinsurance renewals. After receiving R3 approval ... Read the full article
R&Q to grow U.S. insurer Accredited with reinsurance backing
19th January 2017
Randall & Quilter Investment Holdings Ltd. (R&Q) is set to grow its Florida domiciled U.S. domestic insurer Accredited Surety and Casualty Company, Inc. with the help of backing from Lloyd's of London and global reinsurance players. Today, R&Q has announced the completion of an arrangement with Cinium Financial Services Corp., a ... Read the full article
InsurTech innovation key to re/insurers survival: Davos WEF 2017
19th January 2017
At the 2017 World Economic Forum in Davos the technological revolution and strategies for how to remain on the cutting-edge of the innovation race have been a focal point for industry experts across finance, insurance and reinsurance industries. John Cryan, Deutsche Bank CEO, named effectively using technology as the key to ... Read the full article
Allied World “go-shop” period expires with no offers
19th January 2017
The "go shop" period for specialty insurance, reinsurance and investments player Allied World Assurance Company Holdings, AG, under the terms of its planned merger with Canadian property & casualty insurance and reinsurance group Fairfax Financial Holdings Limited has not resulted in any offers. Fairfax is set to acquire Allied World in ... Read the full article
Reinsurers tighten Gulf property terms in wake of skyscraper fires: A.M. Best
18th January 2017
Reinsurance companies have tightened terms and conditions, as well as increase their commission rates, on residential and commercial property risks in the Gulf and Middle East region in the wake of a number of fires in high-rise buildings, according to A.M. Best. Reinsurers had already introduced stricter terms and conditions across ... Read the full article
Argo puts Q4 2016 catastrophes losses at $20m – $25m
18th January 2017
Specialty insurance and reinsurance underwriting firm Argo Group International Holdings, Ltd. has estimated its fourth-quarter 2016 pre-tax catastrophe losses at $20 million to $25 million. The preliminary estimate, released before the fourth-quarter results season begins in the coming weeks, is pre-tax and net of reinsurance and reinstatement premiums. Argo Group explained that ... Read the full article
Industry experts disagree on impact of transatlantic reinsurance agreement
17th January 2017
The EU, U.S. insurance agreement has been hailed in Washington and Brussels as a deal that will greatly boost transatlantic insurance and reinsurance business, but opinions across the industry vary. The deal is set to open up the transatlantic market to both parties as EU and U.S. authorities look to remove ... Read the full article
Ex-Gen Re claims SVP Piggot named CEO of Crawford Global Technical Services
17th January 2017
Geoff Piggot has been named as the new CEO of Crawford & Company's Global Technical Services division, having left his role at Berkshire Hathaway owned reinsurer Gen Re, where he headed up reinsurance claims as a senior vice president. Piggot will be based in London and report to Crawford's International Operations ... Read the full article
A third of total catastrophe losses in 2016 from flooding: Aon Benfield
17th January 2017
Reinsurance broker Aon Benfield named flooding as 2016’s top risk in its 2016 Annual Global Climate and Catastrophe Report released today. 2016 was the fourth consecutive year where flooding was the costliest global peril - at $62 billion it caused nearly one-third of the $210 billion global economic losses. After flooding, the reinsurance broker listed ... Read the full article
Willis Towers Watson names Faber as Global Financial Lines leader
17th January 2017
Insurance and reinsurance broking specialists Willis Towers Watson has appointed Alexis Faber as Global Head of Financial Lines, a promotion from her current role as co-head. The unit comprises Financial and Executive Lines of insurance business, Financial Solutions and other financial products and is part of the company’s Corporate Risk & ... Read the full article
International Group avoids U.S. reinsurance to cover Iran oil exports
17th January 2017
According to a report, the marine re/insurer International Group of P&I Clubs has avoided the use of U.S. domiciled reinsurance in its 2017 program, which enables it to cover Iranian exports such as oil. Reuters reported this morning that the global shipping insurance and reinsurance market has come up ... Read the full article
XL Catlin names Anne Middleton to lead ceded reinsurance
16th January 2017
Anne Middleton has been named by XL Catlin's P&C Underwriting Capital Management operation as its new Global Head of Placements, Ceded Reinsurance. In the role, Middleton will manage the firm's ceded reinsurance arrangements taking responsibility for overseeing the program, negotiating the terms, structure and pricing of XL Catlin's reinsurance. In the role ... Read the full article
BIBA calls for continued EU market access after Brexit
16th January 2017
The British Insurance Brokers’ Association (BIBA) has called for the UK government to negotiate for continued and uninterrupted access to the European single market access after Brexit. BIBA’s Chief Executive Steve White explained that more than 2,700 UK insurance intermediaries benefit from passports that enable them to access EU states and ... Read the full article
Swiss Re names Daftari as Country Manager, Germany in Corporate Solutions
16th January 2017
Reinsurance giant Swiss Re has named Bijan Daftari as Country Manager for Germany in its direct commercial and corporate insurance unit Swiss Re Corporate Solutions. In the role of Country Manager in Swiss Re Corporate Solutions, Daftari will be expected to take responsibility for strategy, development and performance of the firm's ... Read the full article
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