Friday, October 16, 2020

Your Reinsurance News for 16 October 2020

Enstar ups bid for Watford to $686mn, threatens legal action over Arch deal‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
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It's Friday 16 October, 2020

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Enstar ups bid for Watford to $686mn

Enstar criticised its handling of previous takeover attempts and subsequent agreement with Arch.

Wildfires push Allstate's Q3 cat bill to $990mn

The company put its September cat losses at $339 million ($268 million, after-tax).

What a Nobel Prize tells us about tech's role in reinsurance placements: Tremor

Tremor's programmatic reinsurance trading platform puts similarly complex auction technology to work.

Aspen recruits Head of AIUK and AMAL Claims

Tony Rai joins as Head of Aspen Insurance UK and Aspen Managing Agency Limited Claims.

Sponsored by Swiss Re
The "Mediterranean amplification"
A north–south warming gradient that is well documented by climatologists, if not entirely understood.
Interview with Fernando Villar, COO and Head of P&C solutions for EMEA
Insightful dialogue from Swiss Re executives on burning industry topics.

Toa Re Europe adds life reinsurance offering

The addition of life reinsurance to the product offering expands on the firm's P&C business.

Collateralized reinsurance to contract further

Aon says that it will likely remain the largest segment of ILS for the foreseeable future it seems.

Munich Re adds Stefan Golling to Board

Golling will be succeeding Peter Röder's position in Management of the Global Clients and NA Division.

Florida's Olympus hires John W. Rollins as CFO

Rollins had previously been the Chief Risk Officer of Florida's Citizens Property Insurance Corporation.

Lockton Re adds Massingham as a Senior Broker

Andy Massingham joins Lockton Re from rival brokerage Guy Carpenter.

Prospectus 2021

Munich Re partnership targets manufacturing industry

Munich Re is entering into a strategic partnership with machine manufacturing group TRUMPF.

Tara Foley named CEO of AXA UK Retail Insurance

Foley will also become a member of the UK & Ireland Management Committee.

AXIS Re expands NA Casualty team

Lydia LaSalata and Matthew Trinkle join the firm's North American Casualty operation.

Suncorp adds Jimmy Higgins as CEO, NZ

Higgins has been with Suncorp since 2008, holding a range of senior and executive roles.

Flow of wildfire subrogation benefits continues

The flow of recoveries will likely continue thanks to a new agreement from Southern California Edison.

QBE International CUO O'Farrell to retire

In the interim, Nick Hankin, currently Deputy CUO, will be taking over from Colin O'Farrell.

Cincinnati estimates $266mn Q3 cat hit

This figure represents an impact on the company's Q3 combined ratio of approximately 18.3%.

Risk-adjusted returns could increase significantly

Pricing is just one factor in delivering improved returns to shareholders of reinsurance companies.

Cohen & Co's IAC completes merger with Shift

The business combination provides Shift with approximately $300mn, net of fees and expenses.

PCS Original Risk

Accredited in new program partnership with Attune

Attune is a program administrator with specific experience in commercial insurance programs.

SRL makes rating adjustments for Lloyd's Syndicate 33

SRL has downgraded the A (Very Good), negative outlook, Continuity Opinion of Lloyd's Syndicate 33.

Marsh hires new US Cyber Incident Management Leader

Katherine Keefe joins Marsh as US Cyber Incident Management Leader.

APCIA adds Amerisure, Travelers CEOs to board

Alan Schnitzer and Greg Crabb join on January 1st, 2021.

MetLife announces series of key leadership changes

This includes the retirement of LatAm executive vice president and president Oscar Schmidt.

Risk Theory launches underwriting unit for downstream energy

The multi-line insurance offering will be led by Vice President Jonathan Doke.

ICA welcomes call for disaster mitigation funding

Tackling the root cause through greater investment in mitigation to protect homes is vital.

USAA returns for cat bond issue

USAA remains the most prolific and consistent of catastrophe bond sponsors in the market's history.

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