Reinsurance News

Your search for “cyber”

Collaboration needed to support reinsurance market revolution: Johansmeyer, PCS

17th January 2018

The current dynamics of the global reinsurance market suggests a "revolution is brewing," but in order for the market to take advantage of the opportunities ahead, a collective mentality might be what's needed, according to Tom Johansmeyer, Assistant Vice President (AVP), PCS Strategy and Development. "The global reinsurance market shows all ... Read the full article

Extreme weather seen as top 2018 global risk: WEF

17th January 2018

Environmental risks are at the top of the World Economic Forum's (WEF) Global Risk Perception Survey for the second year running, though the interconnected nature of risks observed in 2018 are believed to threaten the system on which economies and international relations are based. The WEF's Global risks report highlighted the ... Read the full article

Modest market hardening across global specialty lines at 1/1: Willis Re

15th January 2018

Across multiple global specialty lines, a modest hardening of rates is expected in 2018, however, new capacity has entered the market in anticipation of the hardening market and will thus reduce the impact on rate growth, according to Willis Re's viewpoint report on January renewals. In the global specialty markets signs of ... Read the full article

Willis appoints Alex Steele & Russell Nicholson to Guernsey Financial Institutions Practice

15th January 2018

Willis Towers Watson has announced the appointment of Alex Steele and Russell Nicholson to their Guernsey Financial Institutions practice. Steele and Nicholson will assume joint responsibility for Client Relationships in Guernsey, while Anthony Kay will undertake the same role in Jersey. Chris Jackson, Global Head of FINEX FI Middle Market commented on ... Read the full article

IRDAI reinsurance framework to continue protectionist policy but with exemptions

12th January 2018

The Insurance Regulatory and Development Authority of India (IRDAI) said in an exposure draft on reinsurance regulation that Indian reinsurers will continue to get order of preference for placing business, but the legislation will be waived for a number of major insurance lines. First preference is to be given to Indian reinsurers ... Read the full article

AXIS Managing Agency takes oversight of Novae syndicate and SPS

9th January 2018

AXIS Managing Agency Ltd., the managing agent arm of international insurance and reinsurance firm AXIS Capital that oversees the group's Lloyd's of London operations, has now taken over management and oversight of the Novae operations at Lloyd's. AXIS Capital acquired Novae Group in 2017, inheriting new Lloyd's operations to add ... Read the full article

InsurTech to open up opportunities in historically excluded risks

21st December 2017

Epidemic risk modeller Metabiota predicts that in 2018 insurers will focus more on speed with increased appetite for risk to reach the needed returns and innovation in the InsurTech space will make this possible, opening up opportunities in historically excluded risks such as terrorism and pandemics. Metabiota Head of Data Research ... Read the full article

A.M. Best holds negative outlook on global reinsurance market for 2018

19th December 2017

Despite the impacts of third-quarter 2017 catastrophe events expected to improve reinsurance market conditions, uncertainty surrounding the level of price increases and how sustainable any market improvement might be has led A.M. Best to maintain its negative outlook for the sector for 2018. Heading into the January 1st, 2018 renewals season ... Read the full article

Nearly a third of U.S. businesses experienced a data breach: Survey

13th December 2017

According to a recent survey for The Hartford Steam Boiler Inspection and Insurance Company (HSB), a division of global reinsurer Munich Re, 29% of U.S. businesses experienced a data breach in the previous year. The survey was conducted by Zogby Analytics for HSB, as part of a continuing effort by HSB ... Read the full article

Defective product risk among biggest perils to business: Allianz

11th December 2017

Tougher regulation, global supply chains, materials from fewer suppliers and consumer awareness are contributing to a rise in recalls making defective product risk an increasing peril for companies, according to Allianz Global Corporate & Specialty (AGCS) report. While the average cost of significant recall is $12 million, "ripple effect" events can ... Read the full article

Declan Durkan named Commercial & Placement Director of THB UK Risk Solutions

7th December 2017

Specialist re/insurer THB has named Declan Durkan as commercial and placement director of THB UK Risk Solutions, the combined fleet and commercial operation of THB in the UK. Durken will take up his new role on 2 January 2018, reporting to Darren Nightingale, CEO of THB UK Risk Solutions. Nightingale commented on the ... Read the full article

Hiscox Re hires Megan McConnell as Director of Underwriting

5th December 2017

Megan McConnell, who as we reported yesterday is departing the Paraline group, is to emerge in a new reinsurance role as Director of Underwriting at Hiscox Re in London. McConnell had worked for International Catastrophe Insurance Managers, LLC (ICAT) since 2005, but it was announced yesterday that she is leaving ... Read the full article

AGCS expands in China & Indonesia

22nd November 2017

Allianz Global Corporate & Specialty (AGCS), a division of global insurer and reinsurer Allianz, has expanded its presence in China and Indonesia as it looks to take advantage of opportunities from growing regional insurance markets. AGCS has announced that it's started operations in Beijing, China, as a division of Allianz China's ... Read the full article

Brand strength to drive re/insurance M&As in digital age: Willis Towers Watson

16th November 2017

Brand strength is expected to be the strongest driver of M&A deals over the next three years, reflecting the re/insurance industry’s transition to digital sales, which require a strong, recognizable brand, according to a survey by Willis Towers Watson and Mergermarket. The survey shows the most powerful motivation for undertaking an ... Read the full article

Chord Re launches as reinsurance focused MGA with Neon capacity

14th November 2017

Chord Re, a new managing general agency (MGA) underwriting start-up, has been launched by Stefan Long, formerly Head of Aspen Re London, and will begin underwriting with the backing of Neon's syndicate capacity. Chord Re has been set up as a joint-venture between its management team, Neon Underwriting Limited and insurance ... Read the full article