Articles

Insurance

Enstar and Maiden Re finalise ADC deal with AmTrust

Bermuda-based Cavello Bay Reinsurance, a subsidiary of global insurer Enstar, has completed an adverse development cover (ADC) reinsurance deal with Maiden Reinsurance.   6 August 2019

Insurance

Swiss Re signs up to AI-driven Natural Language Understanding technology Cogito

Swiss Re Group has partnered with Expert System to provide AI-driven Natural Language Understanding (NLU) technology Cogito.   6 August 2019

Insurance

Insurers close 60% of Townsville, Australia, cat flood claims

The Insurance Council of Australia (ICA) said that 60 percent of insurance claims lodged since the Townsville floods were declared a catastrophe have been closed “marking a significant milestone in the city’s recovery”.   6 August 2019

Insurance

Captive ‘strategy of choice’ for huge pension schemes to hedge longevity risk, says Prudential Insurance expert

A multi-billion dollar captive longevity reinsurance transaction (LRT) has been used to transfer risk linked to huge pension liabilities, suggesting a growing trend for this type of derisking deal.   6 August 2019

Insurance

Argo CEO Watson says 2019 Q2 / H1 results show ‘strong shareholder value creation’

Argo Group’s 2019 second quarter and half year results deliver “strong shareholder value creation” despite some claims volatility in the second quarter of 2018, said CEO Mark E Watson III.   6 August 2019

Insurance

Credit ratings agency AM Best upgrades reinsurer PartnerRe on strength of balance sheet

Global credit ratings agency AM Best has upgraded PartnerRe and its operating subsidiaries to the financial strength rating (FSR) A+ (Superior) from A (Excellent), while the group’s long-term issuer credit ratings (LTICR) has improved to “aa-” from “a+”.   6 August 2019

Reinsurance

Hannover Re: picking the opportune moment

Michael Pickel, CEO of Hannover Re’s German reinsurance subsidiary E&S Rückversicherung, talks rates, insurtech and Lloyd’s of London, with Intelligent Insurer.   5 August 2019

Insurance

New Bermuda reinsurer 777 Re sets up on island; discloses first $307m annuity deal

777 Re, a newly formed Bermuda-based reinsurance company, has completed a $307 million annuity block reinsurance transaction with an undisclosed US-based insurance company.   5 August 2019

Insurance

DARAG strikes legacy portfolio transfer deal with German re/insurer SOVAG

European legacy acquirer DARAG Group has signed a new portfolio transfer agreement with German re/insurer SOVAG. The legacy book comprises direct insurance and inwards reinsurance business.   5 August 2019

Insurance

Hudson Structured Capital Management hires former Validus CFO Jeff Sangster

Re/insurer Hudson Structured Capital Management (HSCM Bermuda) has appointed Jeff Sangster to the post of partner, chief financial officer (CFO) and head of strategy.   5 August 2019

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