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.
One phase of London’s PPL launch brought forwards another delayed
27th March 2017
One of the phases of integration for the London market's PPL electronic trading platform has been brought forward, while another has been delayed as the existing timeframe was deemed too ambitious. Phase 1 of integration, which includes the alignment of Placing Platform Limited (PPL) technology with a market data capture initiative ... Read the full article
Endurance appoints cyber insurance product leader
24th March 2017
Bermuda-based insurance and reinsurance group Endurance Specialty Holdings Ltd. has named Brad Gow as its cyber insurance product leader. Gow has been with Endurance since March 2011, as a Senior Vice President with product responsibilities for the firm's Endurance Pro professional liability and cyber risk insurance businesses. As Global Cyber Product Leader for Endurance ... Read the full article
AXA promotes Braverman to lead its Legacy business
23rd March 2017
AXA has announced the promotion of Josh Braverman, Chief Investment Officer (CIO) and Treasurer to head its Legacy Book Business, and the promotion of Steven M. Joenk to CIO. Braverman joined AXA in 2009 to lead its Derivatives & Hedging teams, which included the development and implementation of the company's derivatives and hedging strategies. Three years after joining the ... Read the full article
DBRS’ insurer ratings to be available on the MSA Researcher Platform
23rd March 2017
Global, independent credit rating agency DBRS ltd., the largest credit rating agency in Canada, has collaborated with MSA Research Inc. (MSA) to provide its insurer ratings on the MSA Researcher Platform and its printed reports. Joel Baker, Chief Executive Officer (CEO) of MSA, said; "We’re excited to be working with DBRS, ... Read the full article
Drinker Biddle adds Dan Brown as a partner
23rd March 2017
International law firm Drinker Biddle & Reath LLP has added Dan Brown as a partner, as it looks to bolster its insurance regulatory and transactional capabilities. Brown will be based in the firm's San Francisco office and becomes a member of the company's Insurance Regulatory and Transactional Team. Andrew C. Kassner, ... Read the full article
XL Catlin names Tuplin International Head of Cyber & Tech, Media & Telecoms
23rd March 2017
Insurer and reinsurer XL Catlin has named James Tuplin Head of Cyber & Technology, Media and Telecoms, International, based in the firm's London office. In his new role Tuplin will be responsible for the underwriting of cyber insurance and professional indemnity insurance for the technology and media sectors. Tuplin has roughly 15 years ... Read the full article
XL Catlin appoints Fischbach to head E&S binding
22nd March 2017
Insurer and reinsurer XL Catlin has announced the appointment of Karl Fischbach in a newly added role, as head of Binding Authority and Brokerage for its Excess & Surplus (E&S) insurance division. Fischbach has been in the insurance and reinsurance industry for 24 years, and assumes his new responsibilities in addition to ... Read the full article
BIBA scheme aims to expand UK commercial flood insurance availability
21st March 2017
The British Insurance Brokers' Association (BIBA) is aiming to expand the availability of flood insurance for small and medium-sized enterprises (SMEs) in flood risk areas not served by the government-backed Flood Re initiative, via a new commercial scheme that could increase the need for reinsurance protection. Executive Director of BIBA, Graeme ... Read the full article
R&Q acquires Bermudian captive insurer, Linco Limited
21st March 2017
Randall & Quilter American Holdings Inc., the U.S. subsidiary of specialist non-life insurance investor, service provider and underwriting manager, Randall & Quilter Investment Holdings (R&Q), has announced the acquisition of Bermuda captive Linco Limited. Domiciled in Bermuda, Linco provided reinsurance protection to its shareholders for workers' compensation, general and automotive liability, and ... Read the full article
Weather Analytics announces $17 million investment from re/insurers
21st March 2017
Weather Analytics has announced that W.R. Berkley Corporation and Tokio Marine HCC have together funded a $17 million Series B financing round, taking the re/insurance industry software provider's total funding to beyond $30 million. Commenting on the recent funding, Chairman and Chief Executive Officer (CEO) of Weather Analytics, said; "This financing ... Read the full article
XL Catlin appoints Tim McMahon as Global Chief Underwriting Officer
20th March 2017
XL Catlin today announced Tim McMahon’s appointment to Global Chief Underwriting Officer for Property. McMahon begins his new London-based role from May 1st, heading up the firm’s global property insurance solutions. He is set to work together with XL Catlin’s Global Insurance Underwriting team in sharing management responsibilities for XL Catlin’s global ... Read the full article
Global re/insurance M&A activity forecast to increase: KPMG
20th March 2017
Financial advisory firm, KPMG, said insurance industry mergers and acquisitions could see a hike this year after 84% of companies surveyed said they had 1-3 M&As in the pipeline. Out of the 200 global insurance industry leader survey participants surveyed, one-third said adapting their business model to deal with the emerging ... Read the full article
SpaceX insurance requirements for rockets see fivefold increase
17th March 2017
The U.S. Federal Aviation Administration (FAA) has mandated Elon Musk's SpaceX to obtain insurance up to five times higher than in previous years, before being given a license to launch his new Falcon 9 rocket, the Wall Street Journal reported. Under the FAA’s new liability coverage mandate SpaceX is now required to ... Read the full article
Harnessing big-data essential for re/insurers
17th March 2017
Learning to harness big-data to their benefit is essential for insurers and reinsurers looking to maintain and increase their market shares and profitability, according to Fitch Ratings. The rating agency explains in a new report that those failing to keep pace with technological change and innovation, such as how to leverage ... Read the full article
Guernsey and Beijing sign MoU for captive business expansion
16th March 2017
Guernsey's Finance Chairman Lyndon Trott has finalised a Memorandum of Understanding (MoU) with Beijing Airport Economic Core Zone, BAECZ, to expand its captive business in China. Under the MoU, both parties have agreed to cooperate in captive insurance market development, financial innovation, and information exchange. The move is intended to aid Chinese captive market development both ... Read the full article
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