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WR Berkley pleased by results despite Q3 cat losses

Intelligent Insurer News - 25 October, 2017 - 11:01
Profits at WR Berkley dipped in the third quarter mainly because of catastrophe losses totalling $119 million including $107 million related to Hurricanes Harvey, Irma and Maria, and the earthquakes in Mexico. But the company remained profitable and said it was pleased with its results.

Hiscox appoints LV= exec as new chief investment officer

Intelligent Insurer News - 25 October, 2017 - 10:56
Specialist global insurer Hiscox has appointed Alex Veys as chief investment officer, succeeding David Astor, who is retiring in 2018 after 15 years at the company.

Brit bolsters cyber and tech unit with Nationwide hire

Intelligent Insurer News - 25 October, 2017 - 10:51
Specialty re/insurer Brit has appointed Courtney Mocio as vice president, cyber and technology at its US unit, Brit Global Specialty USA (BGSU).

Beazley adds non-executive director to board

Intelligent Insurer News - 25 October, 2017 - 10:37
Specialist insurer Beazley has appointed David Roberts to its board as a non-executive director.

Chancery Capital hires head of underwriting

Intelligent Insurer News - 25 October, 2017 - 10:30
Chancery Capital has hired Tobey Butcher as head of underwriting. He joins from Enyo Law.

Zurich: At the heart of Europe

Intelligent Insurer News - 25 October, 2017 - 10:00
Zurich has established itself as the go-to risk transfer hub for reinsurers targeting continental Europe. Intelligent Insurer examines why it has been so successful.

HIM losses will be capital event for some syndicates but Lloyd’s steady on cat

Intelligent Insurer News - 25 October, 2017 - 06:25
Despite significant expected losses in the third quarter from hurricanes Irma, Harvey and Maria and potential rate increases as a result, Lloyd’s is not planning to change the market’s overall exposure to natural catastrophes, Jon Hancock, Lloyd’s performance management director, told Baden-Baden Today.

Scale of Q3 cat losses could be the biggest ever insured cat event

Intelligent Insurer News - 25 October, 2017 - 06:24
This year’s Baden-Baden Reinsurance Symposium is more dynamic and busier than the last four as a result of the heavy nat cat losses experienced in the US in the third quarter, David Flandro, global head of analytics for JLT Re, told Baden Baden Today.

Russia’s national reinsurer makes its mark in year one

Intelligent Insurer News - 25 October, 2017 - 06:23
The state-owned Russian National Reinsurance Company (RNRC) has shown more appetite for new business in its first year in business than expected, Nicola Rautmann, market executive Austria & Central and Eastern Europe (CEE) at Swiss Re, told Baden-Baden Today.

Cat losses and the role of local knowledge

Intelligent Insurer News - 25 October, 2017 - 06:22
How much rates may rise in the aftermath of big cat losses is a major concern of delegates in Baden-Baden, Johannes Hartmann, chief executive of VIG Re, tells Baden-Baden Today, as he also explains the reinsurer’s commitment to Europe.

Volatility drives demand for quota shares

Intelligent Insurer News - 25 October, 2017 - 06:21
In the wake of what may be record levels of catastrophe losses in North America, demand for quota shares is on the rise, Jorg Bruniecki, head of global clients & broker management at PartnerRe, told Baden-Baden Today.

RPA more disruptive in re/insurance than ‘useless’ blockchain

Intelligent Insurer News - 25 October, 2017 - 06:20
The use of robotic process automation (RPA) has the potential to become a greater disruptor to the industry than blockchain, the application of which in reinsurance will be limited, Artur Niemczewski, CEO of Pro Global, told Baden-Baden Today.

Global post-loss rate hikes expected

Intelligent Insurer News - 25 October, 2017 - 06:19
Recent nat cat losses will lead to rate increases worldwide, and not only on the loss-affected accounts, Bob Mellor, head of international property at MS Amlin, told Baden-Baden Today.

2017 nat cats show value of objective event data

Intelligent Insurer News - 25 October, 2017 - 06:18
Recent nat cat events illustrate the value of post-event data collection and aggregation, Luzi Hitz, of PERILS, told Baden-Baden Today.

Cat bonds key to closing protection gap

Intelligent Insurer News - 25 October, 2017 - 06:17
Sponsoring transparent and understandable cat bonds—including bonds that use parametric triggers—could become one of the most effective risk transfer instruments for emerging economies to resolve the developing issue of the protection gap at the macro level, Kirill Savrassov, CEO of Phoenix CRetro, a niche Bermudian ILS specialist, told Baden-Baden Today.

Know your exposures before you talk price

Intelligent Insurer News - 25 October, 2017 - 06:16
The re/insurance industry should never talk about pricing without first thoroughly understanding its exposures, Suki Basi, managing director of Russell Group, told Baden-Baden Today.

The digital future is all at sea

Intelligent Insurer News - 24 October, 2017 - 14:00
The advent of new technologies is likely to revolutionise the maritime industry, but may create a more challenging environment for marine insurers, Dieter Berg, president of IUMI, tells Intelligent Insurer.

AXIS Capital hires new reinsurance CEO from Swiss Re

Intelligent Insurer News - 24 October, 2017 - 10:08
Bermuda-based AXIS Capital Holdings has appointed Steve Arora as the new chief executive officer of AXIS Re.

Qatar Re/Antares drive strong growth in Qatar Insurance Company

Intelligent Insurer News - 24 October, 2017 - 10:08
Qatar Insurance Company (QIC) enjoyed solid growth in the first nine months of the year but its profits were hit by high catastrophe losses, the soft market and changes to the Ogden rate in the UK.

Lloyd’s revises its Harvey, Irma and Maria claims estimates

Intelligent Insurer News - 24 October, 2017 - 10:08
Lloyd’s has revised its net claims estimates for hurricanes Harvey and Irma downwards but it stressed that there remains a high degree of uncertainty around what the final bill might be.

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