Allianz secures Ben Mitchell for newly created role of regional head of multinational for the Americas
Allianz Global Corporate & Specialty SE (AGCS) has created the post of regional head of multinational Americas and hired Ben Mitchell for the role, starting immediately.
Cobbs Allen hires former JLT US CRO Payne to build broking business
US-based enterprise risk management agency Cobbs Allen has hired former JLT US chief revenue officer (CRO) David Payne as part of plans to expand its insurance brokerage business.
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.
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.
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”.
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.
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.
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+”.
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.
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.
