Reinsurance News

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Growing loss complexity driving loss adjusting innovation: Cunningham Lindsey

6th June 2017

The evolution of the risk transfer landscape, underlined by increasingly complex insured losses, is driving greater innovation in loss adjusting, according to recent analysis from Cunningham Lindsey. Loss adjusting, claims management, and risk solutions firm, Cunningham Lindsey, has produced its 2017 Major and Complex Loss Review, which reveals increased innovation in loss adjusting ... Read the full article

Chief Risk Officers need to update skills for re/insurer’s success

6th June 2017

Chief Risk Officers (CROs) are "integral to the future success of insurance companies,” but need to develop a new set of strategic skills to match demands of the future, according to a joint report by Mazar, accounting and advisory services firm and risk technology research firm, Chartis Research, which found ... Read the full article

Commercial insurance rates down overall in Q1 but U.S. casualty renewals increase: Marsh

1st June 2017

Q1 2017 marked the sixteenth consecutive quarter commercial insurance rates declined on average, although decreases did moderated across all coverage lines for the fifth quarter running. Despite U.S. cyber liability rates falling for the first time since 2014, U.S. casualty renewal rates actually increased in Q1 2017, according to broker Marsh. Persistent industry ... Read the full article

Emerging markets – the flagbearer of re/insurance growth: EY

31st May 2017

Emerging markets are the primary drivers of global re/insurance growth, new figures released by EY in its latest market trends report estimate that the average real global re/insurance industry growth rate will increase by 3.7% over 2016 to 2018 - and this growth is being led primarily by booming developing markets. Over the ... Read the full article

Reinsurance sector undervalued but remains attractive: J.P. Morgan

31st May 2017

Despite persistent and widespread headwinds in the European reinsurance industry continuing into 2017 analysts at J.P. Morgan believe the sector remains attractive, and warns that reinsurance is still undervalued by both investors and the marketplace. There's no escaping the fact that in the near-term reinsurance prices are likely to continue falling, albeit at a ... Read the full article

Re/insurance challenges and opportunities of the future: EY

26th May 2017

As the re/insurance industry enters an era marked by shifting inner dynamics and fast-paced changes to macroeconomic conditions, EY analysts have outlined the unique challenges and opportunities set to create the market of the future. EY said the key long-term determinants of this changing scape were down largely to demographic shifts, policy ... Read the full article

M&A activity to increase as foreign firms move into international markets: Fitch

23rd May 2017

Rating agency Fitch highlighted in its report on last year’s reinsurance trends that Merger and acquisition (M&A) activity is not only growing in response to limited organic expansion options, but also as firms with reinsurance operations increasingly become the target of foreign companies seeking to move capital and operations into ... Read the full article

Re/insurance to take minimal share of $8 billion WannaCry economic loss: A.M. Best

23rd May 2017

Insurance industry focused cyber-security firm, Cyence, has pegged the WannaCry ransomware attack economic loss at an estimated $8 billion, although insurance and reinsurance protection is expected to cover just a fraction of this, warns A.M. Best. The recent, global ransomware attack that impacted 150 countries and that was felt across a number of ... Read the full article

Specialty reinsurance premiums grow as traditional business takes a hit: Fitch

22nd May 2017

International financial services rating agency, Fitch Ratings, has highlighted a trend of non-life reinsurers moving into specialty lines, as they seek pockets of premium growth to offset stiff competition in more traditional business lines. Fitch Managing Director, Jim Auden, said industry competition had weakened market pricing significantly in the last three ... Read the full article

Terms & conditions show signs of weakening in 2017: Fitch

18th May 2017

The persistent soft reinsurance market environment is again resulting in the weakening of terms and conditions (T&Cs), as market participants increasingly utilise multiyear protection, extended hours clause, and the inclusion of risks that aren't fully understood by the industry, according to Fitch Ratings. Throughout the softening reinsurance market cycle there have ... Read the full article

Reinsurance buying driven by expansion into new lines: A.M. Best

18th May 2017

Europe's 20 largest cedants have been increasing their reinsurance purchasing as they grow their product offerings with new lines of business that typically require greater technical and financial support, said A.M. Best Senior Director, Carlos Wong-Fupuy, commenting on the rating agency's latest reports on large European insurers' reinsurance ceding trends. As cyber, ... Read the full article

IUA says London insurance business growth needs boost

12th May 2017

International Underwriting Association (IUA) Chief Executive Officer (CEO) Dave Matcham, has added his voice to concerned London industry players who say coming years will be crucial to strengthening London's long-term relationship with emerging markets of Asia and Latin America, after the 2017 London Matters report revealed the city's been falling ... Read the full article

Lloyd’s Inga Beale calls on the City of London to support re/insurance modernisation

10th May 2017

Lloyd's Chief Executive Officer (CEO), Inga Beale, has said London's access to talent and emerging markets must be prioritised if the city's re/insurance industry is to thrive in future years. And while these factors could become increasingly challenged in an era of populism and protectionism, Beale said she believes Brexit could ... Read the full article

Global reinsurers taking market share from London: LMG

9th May 2017

Global reinsurers have taken a share of the re/insurance market from London, as factors like a high concentration of specialist insurers and Brexit have contributed to its shrinking market presence in emerging markets and threaten a continual reduction of its global market share. The London Market Group (LMG) and The Boston Consulting ... Read the full article

AGCS appoints new offshore energy underwriter in London

5th May 2017

Allianz Global Corporate & Specialty (AGCS), a division of insurer and reinsurer Allianz, has announced the appointment of Zoe Massie as Offshore Energy Underwriter, based in the firm's London energy team. In her new role Massie will report to Tracey Hunt, AGCS Regional Head of Energy, London. Massie started her insurance ... Read the full article