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Lloyd’s gets final approval, will launch in India before April reinsurance renewals
19th January 2017
The specialist Lloyd's of London insurance and reinsurance marketplace has received final approval from the Insurance Regulatory Development Authority of India (IRDAI) to establish a regional branch, and the market has said that it will open its new, Indian office in time for the April 2017 reinsurance renewals. After receiving R3 approval ... Read the full article
Reinsurance News – Wednesday 18th January 2017
18th January 2017
Here’s your daily Reinsurance News for Wednesday 18th January 2017: Global insured catastrophe losses rise to $54 billion in 2016: Aon Insured catastrophe losses in 2016 totalled $54 billion according to reinsurance broker Aon Benfield, and was driven by earthquakes, flooding, severe weather, and tropical cyclones. Industry ... Read the full article
Reinsurance News – Tuesday 17th January 2017
17th January 2017
Here’s your daily Reinsurance News for Tuesday 17th January 2017: “Too early to see a turn in the market,” says RBC Analysts at RBC Capital Markets have said that despite rate declines in the global reinsurance market slowing at 1/1, 2017 is too early to see a turn in ... Read the full article
Reinsurance News – Monday 16th January 2017
16th January 2017
Here’s your daily Reinsurance News for Monday 16th January 2017: EU, U.S. reach agreement on transatlantic insurance & reinsurance market The European Union (EU) and the United States (U.S.) last week agreed on a deal that aims to boost the $3 billion transatlantic insurance and reinsurance industry. SCOR ... Read the full article
Rating agency & regulatory changes to increase reinsurance demand: Aon
11th January 2017
Recent developments with rating agency criteria, and regulatory changes across the world has resulted in a narrowing of the gap between differing capital requirements for reinsurers, which is expected to increase demand for reinsurance protection in the near future, according to Aon Benfield. Reinsurance brokerage Aon Benfield, in a recent Reinsurance Market ... Read the full article
$510m run-off startup Premia launches with Arch & Kelso backing
9th January 2017
Premia Holdings Ltd., a new Bermuda-based property & casualty insurance and reinsurance run-off group, has launched today after a $510 million initial capital raise and with backing from Arch Capital and Kelso & Company. Premia Re has been founded by industry veteran and former ACE / Chubb chief reinsurance officer Bill ... Read the full article
Enstar in $91.5m legacy asbestos & environmental liability acquisition
2nd January 2017
Bermuda based insurance, reinsurance and run-off specialist Enstar Group has made a $91.5 million acquisition of Dana Companies, LLC for its legacy asbestos and environmental liabilities. Dana Companies was part of Dana Incorporated, a world leading supplier of highly engineered drivetrain, sealing, and thermal-management technologies for vehicles. As a result of its ... Read the full article
Greenlight Capital Re announces Hedges to step down as CEO
19th December 2016
Greenlight Capital Re, Ltd., the Cayman Islands domiciles specialist property and casualty reinsurance firm that is backed by hedge fund manager David Einhorn, has announced that its CEO and Board member Bart Hedges will be stepping down as of March 31st 2017. Leonard Goldberg, a former Chief Executive Officer at Greenlight ... Read the full article
Reinsurance News – Friday 9th December 2016
9th December 2016
Here’s your daily Reinsurance News for Friday 9th December 2016: NFIP proposal calls for capital market reinsurance alternatives A new proposal calls for the use of traditional and alternative reinsurance and risk transfer solutions to support the de-risking of the U.S. government's National Flood Insurance Program (NFIP). W.R. ... Read the full article
Reinsurance News – Monday 5th December 2016
5th December 2016
Here’s your daily Reinsurance News for Monday 5th December 2016: Swiss Re to cut back on P&C, but positive on re/insurance industry trends Reinsurance giant Swiss Re has said that the long-term outlook for the re/insurance industry is positive, highlighting growth potential in risk pools. The firm also revealed ... Read the full article
Reinsurance News – Monday 31st October 2016
31st October 2016
Here’s your daily Reinsurance News for Monday 31st October 2016: Aon reports 4% organic revenue growth in Q3 Aon has reported its third-quarter 2016 results, revealing that revenue was flat at $2.7 billion, while the firm reported organic revenue growth of 4%. The firm's reinsurance unit, Aon Benfield, recorded organic ... Read the full article
Reinsurance News – Monday 24th October 2016
24th October 2016
Here’s your daily Reinsurance News for Monday 24th October 2016: Munich Re is harnessing the power of Big Data to develop solutions Reinsurance giant Munich Re is taking advantage of Big Data to improve the modelling and understanding of insurance risks around the world, helping the firm to create new ... Read the full article
Reinsurance News – Friday 30th September 2016
30th September 2016
Here’s your daily Reinsurance News for Friday 30th September 2016: Buffett's Berkshire Hathaway to establish reinsurance branch in India Warren Buffett's Berkshire Hathaway has revealed plans to establish a reinsurance branch in India, roughly three years after exiting the region citing regulatory issues. Hurricane Matthew intensifies, targets ... Read the full article
Reinsurance News – Monday 5th September 2016
5th September 2016
Here’s your daily Reinsurance News for Monday 5th September 2016: Hermine re/insurance loss estimated up to $500m by Karen Clark & Co Up to Friday evening hurricane Hermine is estimated to have caused an insurance and reinsurance industry loss approaching $500m, with economic loss approaching $1 billion, according to Karen ... Read the full article
Reinsurance News – Wednesday 24th August 2016
24th August 2016
Here’s your daily Reinsurance News for Wednesday 24th August 2016: M6.2 earthquake hits Umbria, Italy A magnitude 6.2 earthquake has struck the Umbria region of Italy overnight, with early reports stating that 10 lives have been lost and that there's widespread damage to buildings and structures. Italian earthquake ... Read the full article