Capital market investors accessing the reinsurance sector through insurance linked securities (ILS) will have to accept a growing pool of new perils and ever more flexible terms and conditions if the market is to continue to grow at the pace it has in recent years.
Allied World Assurance Company Holdings has launched Allied WorldWide, a platform which aims to simplify the buying process that multinational companies face when purchasing insurance protection for worldwide locations.
Although a rise in interest rates is likely over the next two years, this will not be enough to prevent life insurers having to implement more fundamental strategic shifts if they are to restore earnings to historical levels.
Allied World says the changing legislative landscape around healthcare in the US means big opportunities for insurers – but only those prepared to innovative and tailor bespoke solutions.
AM Best has revised its outlook of Reaseguradora Patria’s (Patria Re) financial strength ratings to positive from stable and affirmed its financial strength rating of A- (Excellent). Patria Re is a Mexico domiciled reinsurer that operates primarily within the Mexican and Latin American markets.
Nephila Capital has appointed a new partner. Guy Swayne, who was previously an executive vice president and member of Flagstone Re's executive committee, will be based in Bermuda, and will focus primarily on risk origination, working with established and new counterparties seeking protection from natural catastrophe and weather exposures.
Markel International, a specialist insurer, has promoted Zoe Woods to claims manager for its new casualty treaty division.
Specialist Lloyd's insurer Jubilee has appointed Eamon Brown as chief underwriting officer. He was previously director of underwriting and the active underwriter of Mitsui Sumitomo at Lloyd’s Syndicate 3210.
Kiln, the specialist insurance and reinsurance business which is part of the Tokio Marine group, has appointed Claudia Alaimo as senior accident & health underwriter for Europe.
XL Group and private equity firm, Stone Point Capital, have formed a Bermuda-based company which will act as an investment manager in insurance-linked securities (ILS) and other reinsurance capital markets products.