Reinsurance News

The value of divestments needed to get insurance and reinsurance broker Aon’s acquisition of rival Willis Towers Watson (WTW) over the line continues to increase, with South Africa the latest country who’s competition authority has requested a remedy specific to its marketplace.

Global reinsurance broker Guy Carpenter has announced the hiring of James Johns from Willis Re and Joshua O’Donoghue from Aon, who both join the brokers London non-marine specialty team, bringing additional property catastrophe and retrocession expertise.

The mismatch between capital supply and demand is now much lower than it was a year ago, with factors including capital raises and the freeing up of trapped ILS capital driving a resurgence, according to David Flandro of HX Analytics.

Parsyl Inc., a provider of data-driven, sensor-based systems that are used in parametric risk transfer and insurance, has made a pay-out under a temperature linked policy in less than 8 hours.

Oliver Denbigh, formerly an Aon employee, has now taken up his role at TigerRisk in its London retrocessional reinsurance broking team.

In response to the reports that insurance group Covéa wants to acquire AXA’s non-life reinsurance operations, the Bermuda headquartered AXA XL Re division, analysts at Keefe, Bruyette & Woods have mused that the lower cost-of-capital of a mutual insurer’s strategy may be better able to withstand competition from the ILS market.

Peak Reinsurance Company Limited (Peak Re), the Hong Kong headquartered, Fosun backed global reinsurer, is targeting further expansion of its business within European markets and has announced the hiring of former Swiss Re employee Karlheinz Render as Senior Vice President, Europe.

The Competition and Consumer Commission of Singapore has said this morning that it intends to deepen its review of the merger of insurance and reinsurance broking and consultancy giants Aon and Willis Towers Watson (WTW).

Aspen Re, the global reinsurance unit of Bermuda headquartered Aspen Insurance Holdings Limited, has announced a number of changes to its global reinsurance leadership, as it seeks to strengthen its team and provide flexibility to employees.

U.S. primary insurance carrier group FedNat Holding Company has expanded its reinsurance tower at its renewal this year, lifting its aggregate protection to $2.25 billion and its single event cover to $1.41 billion.