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Carmilani takes growth & collaboration role at Fairfax, Iglesias named AWAC CEO

Scott Carmilani is moving into a newly created role at Fairfax Insurance Group to focus on growth and collaboration opportunities across insurance and reinsurance, stepping down from his previous position as CEO of Allied World.The new role will see Carmilani working closely with Andy Barnard, President of Fairfax Insurance Group, read the full article →

B3i say catastrophe XOL reinsurance system to launch this month

B3i, the insurance and reinsurance industry initiative that aims to create standardised systems for transacting in reinsurance using a distributed ledger, says that its catastrophe excess-of-loss (XOL) reinsurance placement system is finally ready to be released.B3i launched as a blockchain focused consortium of industry insider companies, aiming to create a read the full article →

Markel puts lawsuits from ex-CATCo CEO’s Belisle & Fredricks behind it

Markel Corporation has reached the point where it can put the two lawsuits from the ex-CEO's of its Markel CATCo Investment Management unit behind it, having agreed terms to settle or close the cases.The insurance and reinsurance firm has reached agreements to settle both complains of wrongful dismissal and withholding read the full article →

Climate risk transfer an opportunity for product design innovation: Greg Lowe, Aon

The growing pressure on corporations to take greater responsibility for the climate related risks and exposures they carry could present an opportunity for insurance and reinsurance market participants to demonstrate innovation in product design, according to Aon's Greg Lowe.Greg Lowe, the Head of Resilience & Sustainability at insurance and reinsurance read the full article →

Bermuda ILS related re/insurer registrations rose slightly in H1 2019

Registrations for new insurance and reinsurance vehicles that are related to catastrophe bonds and other insurance-linked securities (ILS) use-cases have risen slightly in the first-half of 2019.This is promising for ILS, catastrophe bond and collateralized reinsurance market activity over the rest of the year, as despite the impacts of heavy read the full article →

Jamaica’s cat bond risk modelling supported by World Bank

The work to issue a catastrophe bond for Jamaica continues, with the World Bank providing risk modelling support and expertise to assist in getting a transaction to market, the countries Finance Minister said.Jamaica has been exploring insurance and reinsurance structures for sourcing disaster risk financing for some time now (discussions read the full article →

Severe weather in June drives $3bn+ costs for U.S. and Europe: Aon

Severe and convective weather outbreaks drove significant damages in the month of June 2019, Aon reported, with over $3 billion of economic losses expected and approaching $2 billion in insurance and reinsurance hit expected in the U.S. and Europe.It's another month where the severe and convective weather related peril drove read the full article →

Assurant places enlarged reinsurance program for 2019, lowers retention

U.S. specialty insurance group Assurant has successfully secured a larger amount of reinsurance limit for its property catastrophe reinsurance program for 2019, while at the same time the retention on the program now stands at one-third of where it was as recently as 2012.Assurant has been steadily expanding its reinsurance read the full article →

Some syndicates at Lloyd’s said more cat exposed after renewals

A number of syndicates operating at Lloyd's have stepped up at the renewals of Florida catastrophe reinsurance to increase their share of program layers and ramp up line sizes, all at a time when the Corporation itself is maintaining a focus on minimising or moderating cat exposure across its marketplace read the full article →

Jebi creep impacts ongoing, as loss threatens fresh reinsurance layers

The impacts to reinsurance and ILS players from the typhoon Jebi losses in Japan may still have a little further to run, as the escalation of the industry loss has hit fresh layers in reinsurance programs, we've learned.Sources in the insurance-linked securities (ILS) market said that a typhoon Jebi final read the full article →