Reinsurance News
Your search for “insurtech”
The 2017 technological trends set to disrupt re/insurance business as usual
27th April 2017
Technology Vision has released its 2017 report on emerging technology trends with the most potential to disrupt the re/insurance industry; the analysis revealed that re/insurance experts' top priority for getting technology right is more about having the right ecosystems and distribution platforms than in grabbing hold of the latest gizmos ... Read the full article
Bahamas First in talks with reinsurers to upscale micro insurance offers
20th April 2017
Bahamas First is in talks with reinsurers over the provision of reinsurance-backed “micro insurance” products, as it seeks to streamline the firm's product offers with more affordable solutions to improve the Island's insurance penetration. The insurer also pledged to work together with the incoming government to tackle the protection gap issue, ... Read the full article
IT spending by global re/insurers to reach $184.8 billion by end of 2017
20th April 2017
Analysis from research and advisory firm Celent shows that global insurance and reinsurance industry IT spending is expected to reach $184.8 billion by the end of this year. Celent estimates IT spending, on software technology and infrastructure as a percentage of premium and says that digitalisation, data analytics, and legacy and ... Read the full article
Hiscox appoints new Chief Information Officer
19th April 2017
Insurance and reinsurance group Hiscox has appointed a new Chief Information Officer (CIO), naming Ian Penny, previously CTO of Barclays in the role. At Hiscox, Penny will be in charge of the Group's IT, with a team of 300 under his leadership and will report directly to CEO Bronek Masojada. Penny replaces ... Read the full article
Argo Group reveals first quarter losses
18th April 2017
Specialty re/insurer Argo Group International Holdings has today announced an expected loss of $16.5 million in its 2017 first quarter earnings. The firm has said four major factors contributed to its first quarter losses including its recent $2.5 million acquisition of Ariel Re; restructuring and insurtech start-up costs of $4 million ... Read the full article
Reinsurance backed geothermal risk transfer expands to Germany
13th April 2017
A German drilling contractor and energy company, Daldrup & Söhne AG, has become the first firm in Germany to use an innovative integrated drilling risk insurance model backed by a reinsurance structure. The insurance model’s alternative risk transfer (ART) structure is backed by a reinsurance framework and used to hedge the ... Read the full article
Technology – shifting global awareness and perception of re/insurance: Swiss Re
13th April 2017
Swiss Re’s Chief Executive Officer (CEO) of Reinsurance, Moses Ojeisekhoba, has pointed to “encouraging” signs that technology is shifting global perception and awareness of insurance, as it simultaneously transforms the industry’s products into shorter-term, bite-size, and more cost-efficient solutions. Ojeisekhoba suggested people’s perceptions of insurance and its use is the “most important thing ... Read the full article
Conning forecasts record levels of M&A activity in 2017
10th April 2017
A record number of M&A transactions in the distribution end of the market, with tech-driven service providers and equity brokers at the forefront of the transaction boom, is predicted for 2017 in investment management firm, Conning’s, annual global insurance M&A study. Insurance brokers and private equity sponsors have been leading the ... Read the full article
Reinsurance News – Monday 10th April 2017
10th April 2017
Here’s your daily Reinsurance News for Monday 10th April 2017: $2 billion insured losses for severe U.S. weather events in March: Aon Benfield Global insured catastrophe losses from severe winter weather in the U.S. in March is expected to reach $2 billion, according to Aon Benfield. Japanese reinsurance renewals ... Read the full article
AXIS Re looks to engage, develop next generation of reinsurance professionals
7th April 2017
Bermudian reinsurance unit AXIS Re, part of the AXIS Capital Holdings Limited re/insurance company, is looking to engage and develop the next generation of insurance and reinsurance professionals, holding a student hackathon. The inaugural “Future of Insurance” student hackathon will be held in the Siebel Center for Design on the campus ... Read the full article
Reinsurers acting as insurers benefit from dual market insight
6th April 2017
Reinsurers acting as insurers see a dual advantage from moving in closer to the risk, as they benefit not only from higher returns without so many middlemen, but also from receiving full insight into how both insurance and reinsurance lines of business operate. Gregory Hendrick, property/casualty president of XL Catlin, said he ... Read the full article
Reinsurance News – Thursday 6th April 2017
6th April 2017
Here’s your daily Reinsurance News for Thursday 6th April 2017: Cyclone Debbie blows the lid on IAG’s reinsurance cover Insurance Australia Group (IAG) expects to fully use up its FY17-specific reinsurance cover of $96 million after Cyclone Debbie raised the insurer’s FY17 net natural peril claim cost estimations to $850 million. Read the full article
Swiss Re reinsurance chief cites tailored deals as opportunity
21st March 2017
As one of the leading pioneers of tailored business product development, Swiss Re has said it's seen success in higher returns from specialised reinsurance products, and has laid out plans to offset competition by continuing to grow this smaller-scale but more lucrative line of business. The reinsurer told Reuters ... Read the full article
Re/insurers must embrace myriad of opportunities: GC’s Carter
17th March 2017
Insurance and reinsurance companies around the world have an opportunity to take advantage of the evolving risk landscape and the rapidly changing economic environment, according to Victoria Carter, Vice Chairman of Global Strategic Advisory for Guy Carpenter. Insurers and reinsurers in all parts of the world must adapt to the myriad ... Read the full article
Harnessing big-data essential for re/insurers
17th March 2017
Learning to harness big-data to their benefit is essential for insurers and reinsurers looking to maintain and increase their market shares and profitability, according to Fitch Ratings. The rating agency explains in a new report that those failing to keep pace with technological change and innovation, such as how to leverage ... Read the full article