Bermudian reinsurance firm RenaissanceRe has had its $1.5 billion acquisition of Japanese re/insurance group Tokio Marine’s reinsurance units approved by regulators. The acquisition, which was announced back in October 2018, sees RenaissanceRe acquiring the Tokio Millennium Re AG and Tokio Millennium Re (UK) Limited units from the Japanese giant Tokio Marine Holdings, Inc. The deal… Continue reading RenaissanceRe’s $1.5B Acquisition of Tokio Millennium Re Approved
Tag: reinsurance
Hannover Re Eyes InsurTech Innovation with Launch of hr | equarium
Global reinsurance player Hannover Re has announced the launch of hr | equarium, an online platform designed to better connect InsurTech solutions with the insurance industry. Hannover Re has identified digital disruption, shifting demographics and evolving buyer preferences as having created a challenging operating environment for insurers. Subsequently, the company designed hr | equarium as… Continue reading Hannover Re Eyes InsurTech Innovation with Launch of hr | equarium
Lockton Forms Reinsurance Business, Names Leadership
Re/insurance broker Lockton has moved to form a new global reinsurance business, Lockton Global Re. Lockton has stated that reinsurance is a critical pillar of its aggressive growth plan and this new business will, under the leadership of the firm’s Chief Executive Officer Ron Lockton, look to build out its current capabilities and incorporate an… Continue reading Lockton Forms Reinsurance Business, Names Leadership
U.S. Insurers Seek Renewal of Federal ‘Backstop’ Against Acts of Terrorism
U.S. insurers are pushing for the extension of a federal terrorism risk insurance program, hoping to fend off a possible gap that would leave their clients scrambling for alternate coverage. The program, which expires at the end of 2020, was created by the Terrorism Risk Insurance Act. The law was passed after the attacks of… Continue reading U.S. Insurers Seek Renewal of Federal ‘Backstop’ Against Acts of Terrorism
Top Insurance Professionals Network, Learn & Grow
Michael E. Angelina, ACAS, MAAA, CERA, is the executive director for the Saint Joseph’s University Academy of Risk Management & Insurance. Prior to assuming his role at Saint Joseph’s, Angelina had more than 25 years of professional experience in the property/casualty insurance industry as a practicing actuary. Among his positions, he served as chief risk… Continue reading Top Insurance Professionals Network, Learn & Grow
Activist Investor Claims Argo’s CEO Uses Company Assets to Support Lifestyle
An activist investor says a CEO is causing damage to his insurance company’s bottom line by using corporate assets to support his lifestyle and hobbies, and it plans to launch a proxy fight. Voce Capital Management LLC thinks Argo Group International Holdings Ltd.’s board is letting its chief executive, Mark E. Watson III, misuse the… Continue reading Activist Investor Claims Argo’s CEO Uses Company Assets to Support Lifestyle
Jeff Burt Appointed President of Hannover Re US
Hannover Life Reassurance Company of America (Hannover Re US), announces the appointment of Jeff Burt as President. In this role, he will be responsible for Hannover Re’s life and health reinsurance business in the United States. Jeff joined Hannover Re US in 2003 as Vice President, Marketing with responsibilities for client relationships in traditional life… Continue reading Jeff Burt Appointed President of Hannover Re US
Jean-Paul Conoscente Promoted to Chief Executive Officer of SCOR Global P&C
SCOR announces the appointment of Jean-Paul Conoscente, currently CEO of Reinsurance at SCOR Global P&C, as Chief Executive Officer of SCOR Global P&C. Jean-Paul Conoscente will also join the Group’s Executive Committee. This appointment is effective April 1, 2019. This appointment follows Victor Peignet’s decision to retire for personal reasons, after 35 years with the… Continue reading Jean-Paul Conoscente Promoted to Chief Executive Officer of SCOR Global P&C
Florida Insurers Remain Stable Due to Reinsurance Protection: Demotech
Financial analysis firm Demotech has affirmed the financial stability ratings (FSRs) of 51 Florida property insurers after reviewing the quality and quantity of the companies’ reinsurance protection. Based on its compilation of the year-end 2018 financial information of these carriers, Demotech concluded that their reinsurance programs were sufficient to expect reimbursement for outstanding losses and… Continue reading Florida Insurers Remain Stable Due to Reinsurance Protection: Demotech
Swiss Re Completes Public Share Buy-Back Program 2018
Swiss Re announces that it has completed the 2018 public share buy-back program of up to CHF 1.0 billion purchase value, authorized by the Annual General Meeting on 20 April 2018 and which it launched on 7 May 2018. Since 7 May 2018, Swiss Re has repurchased 11 214 761 of its shares for a… Continue reading Swiss Re Completes Public Share Buy-Back Program 2018