Reinsurance News
Your search for “asset management”
RMS and CCRS collaborate on new data schema covering $554tn of insurance exposure
19th September 2018
Global catastrophe risk modeller RMS has collaborated with the Cambridge Centre for Risk Studies (CCRS), part of The University of Cambridge, to develop and launch a new Data Definitions Document v1.0 for 14 different classes of insurance exposure. The new, published insurance exposure Data Definitions Document v1.0 offers a standardised schema ... Read the full article
Marsh & Mclennan acquires JLT for $5.6 billion
18th September 2018
Major mergers & acquisitions news breaking this morning, as it has been announced that broking and advisory giant Marsh & McLennan Companies, Inc. (MMC) is to acquire Jardine Lloyd Thompson Group plc for $5.6 billion. The acquisition sees another of the mid-sized global insurance and reinsurance brokers going to a new ... Read the full article
Willis Towers Watson to work with Cloud Constellation satellite system
13th September 2018
Willis Towers Watson has announced that its space industry specialist division, Inspace, has been appointed as an exclusive risk advisory and insurance broker to Cloud Constellation Corporation and SpaceBelt, a system of eight low earth orbit satellites (LEO) that offer space-based secure data storage and services. The appointment will see Inspace ... Read the full article
Portfolio optimisation needed as market volatility rises: Guy Carpenter
12th September 2018
Optimised portfolio construction is becoming an increasingly vital strategy for re/insurers to tackle growing market volatility, which is being driven by excess capacity and rising claim costs, according to Guy Carpenter, the reinsurance broker and wholly owned subsidiary of Marsh and McLennan Companies. A global roundtable of Guy Carpenter leaders agreed ... Read the full article
Occam adds Alan Punter to Board as Non-Exec Director
7th September 2018
Specialty Lloyd’s of London managing general agent (MGA), Occam Underwriting, has added Dr Alan Punter to its Board as a Non-Executive Director. Punter worked for 25 years in global insurance broking groups Sedgwick, Alexander & Alexander and then Aon, where he was Managing Director in the Chairman's Office, and Chief Executive ... Read the full article
Underlying profitability and reinsurer capital fall at H1 2018: Willis Re
6th September 2018
Underlying profitability continued its downward trend at H1 2018, falling 3.4% for the 34 reinsurance companies tracked in the Willis Reinsurance Index, while shareholders’ equity also saw a decrease of 1.6% to $364.9 billion from $371 billion at year-end 2017. Willis Re’s latest Reinsurance Market Report found that the decreases occurred ... Read the full article
Markel Corporation buying Nephila Capital, world’s largest ILS manager
31st August 2018
It's been announced that Markel Corporation is to acquire all of the outstanding shares of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of ... Read the full article
Aspen confirms acquisition by Apollo for $2.6bn
28th August 2018
Bermuda-headquartered Aspen Insurance Holdings has confirmed this morning that it is being acquired by funds under management of Apollo Global Management, LLC for $2.6 billion. The fact Aspen has been for sale has been no secret and the insurance and reinsurance firm's sale has been one of the most discussed, while ... Read the full article
Gordon Lam joins Markel as Senior Professional & Financial Risks Underwriter
24th August 2018
Specialist insurer Markel International has named Gordon Lam as a Senior Professional and Financial Risks Underwriter, initially based in Singapore and expected to relocate to the firm's Hong Kong office at a later date. Lam is expected to join the insurer in early 2019, and will work closely with Head of ... Read the full article
Over-dependence on Quard’ Hasan harming re/takaful sector: A.M. Best
20th August 2018
A.M Best believes that an over-dependence on interest-free loans (Quard’ Hasan) by the Middle East and North America (MENA) re/takaful sector is driving up policyholder deficits and not providing enough incentive for operators to manage their companies effectively. As competitive market conditions create significant underwriting losses, operators’ reliance on the Quard ... Read the full article
Alternative capital transforming the reinsurance market: S&P Global
15th August 2018
As third-party capital from Insurance Linked Securitisation (ILS) continues to flow abundantly into the market, reinsurers have increasingly turned to instruments such as sidecars, collateralised reinsurance, and catastrophe bonds in order to increase premiums whilst maintaining net exposures - says S&P Global Ratings in a report published today. Even after severe ... Read the full article
Bain Capital in discussions to acquire UK insurer esure
14th August 2018
After receiving an unsolicited acquisition offer from U.S. domiciled private multi-asset alternative investment firm, Bain Capital Private Equity, LP and its affiliates, UK insurer esure Group is considering a possible deal. According to a recent announcement, the Board of esure Group notes the recent positive movement in the company's share price ... Read the full article
Property cat reinsurers “untenable” without alternative capital: WTW
13th August 2018
Re/insurance broker Willis Towers Watson (WTW) has suggested that it may now be “essentially untenable” for property catastrophe reinsurers to rely solely on equity without some access to alternative capital, as the insurance-linked securities (ILS) market sees a surge in activity over 2018. WTW’s Q2 ILS Market Update report observed that ... Read the full article
Reinsurance demand to grow in Asia, although untapped markets remain: Fitch
3rd August 2018
Reinsurance demand is expected to grow significantly in Asia due to accounting reforms, large infrastructure projects, and technology, while considerable opportunities and challenges remain in closing the region’s vast protection gap, according to a new report by Fitch Ratings. Fitch noted that the implementation of IFRS 17 - new international accounting ... Read the full article
CNO secures reinsurance from Wilton Re on long-term care policies block
2nd August 2018
Bankers Life and Casualty Company, a subsidiary of CNO Financial Group, has secured reinsurance on its long-term care policies written prior to 2003, with reserves of approximately $2.7 billion, through 100% indemnity coinsurance. Wilton Re, a U.S life re/insurer that specialises in the acquisition of in-force portfolios, has agreed to take ... Read the full article