Intelligent Insurer News

The UK’s possible departure from the UK has not had any discernible impact on appetite for deals in the UK insurance sector, with the fall in the pound making valuations attractive and quantitative easing ensuring there is plenty of money looking to be invested.

Global reinsurance prices are set to stay flat or rise slightly, with buyers reassessing risk-adjusted returns following substantial natural catastrophe claims in 2017 and 2018, according to a Moody’s survey. 

Re/insurer AXA XL is simplifying its reinsurance organisational structure, aligned around its key markets and intended to enhance the focus on its 'payer to partner' strategy. The changes, effective January 2, 2020, will include combining its Bermuda and London platforms, and centralising its claims and operational functions into one global unit.

European legacy acquirer DARAG Group has agreed to acquire Zurich Insurance's German architects and engineers (A&E) professional indemnity insurance portfolio, assuming reserves of over €180 million.

Integro Insurance Brokers (trading as Tysers) has signed a definitive agreement to acquire Risk Transfer Group (RTG), the parent company of Lloyd's re/insurance broker RFIB Group.

Reinsurance broker Guy Carpenter, a wholly owned subsidiary of Marsh & McLennan Companies, has unveiled a key leadership change to integrate the capabilities of JLT Re and further its growth strategy.

Liberty Specialty Markets (LSM), part of Liberty Mutual Insurance Group, has appointed Alexander Montoya as president of US, Bermuda and LatAm, effective immediately.

As of January 2020 American International Group (AIG) will begin to affirmatively cover or exclude physical and non-physical cyber exposures for virtually all of its commercial property and casualty insurance policies, in an effort to address market concerns around silent cyber risks.

Re/insurance broker Aon has appointed Neville Weston as vice chairman of reinsurance solutions business in Bermuda.

The rush to the Latin American region is losing its allure for some reinsurers, claims James Grieves, senior vice president and regional manager of the Latin America and Caribbean region at SCOR.

Hannover Re has been active with parametric coverage in the agricultural field for many years, and it is now focusing on the coverage in its property segments.

Collaboration between the public and private sectors is essential to bridge the gap between the potentially insurable and the insured, according to Luis Enrique Bandera, president of FIDES.

For Roberto McQuattie, president of Latin America at Crawford & Company, there are three broad trends that the re/insurance industry must look out for in the rapidly expanding Latin American region. FIDES Today finds out more.

Latin America is experiencing a digital revolution and with a foothold in Miami and Brazil, Argo Group is well placed to take advantage of opportunities in the market, according to its head of Latin America.

Backed by China Re, the world’s eighth largest reinsurer, Chaucer has set its sights upon significant expansion across the Latin American region.

Speaking to FIDES Today, rating agency AM Best outlines the unpredictable market in Mexico, Latin America’s second largest economy, and potential market growth in Panama.

We’re at the beginning of the fourth Industrial Revolution and using legacy technology just won’t cut it, Victor Roldan, vice president, head of Caribbean and Latin American region at RMS, told FIDES Today.

The Latin American region is still not tapped to its full potential and is on the radar of GIC Re to expand its business, Alice Vaidyan, chairman-cum-managing director, GIC Re, told Fides Today.

While the re/insurance industry remains an attractive proposition for investors, there is a renewed desire to achieve more consistent profitability based on technical underwriting, as Mike Mitchell of Swiss Re told Monte Carlo Today.

Broker clients of Advisen, a collector of industry loss data, are reporting more difficult renewal conversations with their insureds on D&O, president Jeffrey Cohen told Monte Carlo Today.