Articles

Insurance

Europe faces €1.77bn economic losses after severe June weather: Aon cat report

The economic cost of a record breaking heatwave, severe storms and flooding in Europe in June 2019 is expected to exceed €1.774 billion (US$2 billion), according to Aon’s monthly Global Catastrophe Recap report.   11 July 2019

Insurance

PartnerRe appoints Chris Shanahan president of US life operations

Bermuda-based PartnerRe has appointed Chris Shanahan as president of its US life operations.   11 July 2019

Insurance

EC3 Brokers hires former Greenlight Re, Wellington executives for US expansion

London-based EC3 Brokers has appointed James Norris as chief actuary and Terry Holley as senior vice president in the US.   11 July 2019

Insurance

Ares expands insurance platform with Aspida launch and Michigan M&A

Global alternative asset manager Ares Management Corporation (Ares) will expand its existing insurance platform, Ares Insurance Solutions, through the launch of Aspida Financial (Aspida) as an indirect subsidiary of Ares.   11 July 2019

Insurance

Aon: traditional reinsurance sector drives Q1 2019 rebound

Global reinsurance capital markets recovered in Q1 2019, increasing by 3 percent to US$605 billion over the three months to March 31, 2019 up from US$585 billion at 2018 year end, according to Aon’s latest reinsurance market outlook.   10 July 2019

Alternative Risk Transfer

Christchurch City Council looks to ILS to boost cover; Mayor Dalziel visits EC3

Christchurch City Council is considering insurance-linked securities (ILS) to increase its insurance cover for underground assets such as water and waste pipes.   8 July 2019

Insurance

Canopius hires Talbot, XL Catlin executives in APAC growth drive; gains approval from Lloyd’s

Specialty re/insurer Canopius has made four new appointments for its recently established Canopius Australia & Pacific branch in Sydney, which has also gained binding authority approval from Lloyd’s.   8 July 2019

Insurance

Aon unveils new IFRS 17 solution to bridge gap between risk and finance

Re/insurance broker Aon has launched an IFRS 17 (International Financial Reporting Standard) solution on its capital modelling platform to help insurers fulfil their reporting obligations.   8 July 2019

Insurance

Pool Re secures £40m non-damage business interruption retro cover led by Liberty Specialty Markets

UK government-backed terrorism reinsurer Pool Re has placed its new retrocession programme covering non-damage business interruption (NDBI) losses.   8 July 2019

Insurance

Catlin's re/insurance start-up Convex strikes long-term strategic partnership with WNS

Insurance veteran Stephen Catlin and Paul Brand's newly launched specialty re/insurer Convex Group has signed a long-term strategic contract with WNS Holdings to build what it describes as a first-of-its-kind, integrated "Platform + BPM (business process management) as-a-service” proposition across industry horizontals, including support services relating to operations for insurance, reinsurance, claims, finance and human resource.   8 July 2019

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