Reinsurance News
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Cost of climate change highlights important role of re/insurance
8th February 2017
A report published by the European Environment Agency (EEA) stated that economic losses to the region could rise to as much as €190 billion per year by the end of the 21st century - highlighting the growing role reinsurers will likely play in mitigating climate change loss. The report assesses the ... Read the full article
Reinsurance News – Wednesday 8th February 2017
8th February 2017
Here’s your daily Reinsurance News for Wednesday 8th February 2017: SCOR finds U.S. reinsurance growth at 1/1 Insurer and reinsurer SCOR has revealed that it found opportunities for reinsurance premium growth at the recent January renewals, despite continued market pressures. Enstar in £957m legacy reinsurance deal with RSA A ... Read the full article
Re/insurers facing triple challenge of climate change: IAIS
6th February 2017
The International Association of Insurance Supervisors (IAIS) outlined a three-pronged set of climate-change related risks facing insurers and reinsurers, in a report released yesterday. The report demonstrates re/insurers' uniquely vulnerable position; the resources used for underwriting risks may be simultaneously invested in assets that are vulnerable to these risks and come ... Read the full article
Charles Taylor opens Latin America captive office, hires Arch Re exec
2nd February 2017
Charles Taylor has opened a new office in Panama in a move that expands its captive insurance services' capabilities across Latin America, and has appointed Alvaro Ortiz, formerly of Arch Reinsurance, Bermuda, to lead the new office. Ortiz joins the company as President and Chief Executive Officer (CEO of Charles Taylor RSLAC Inc., ... Read the full article
Reinsurance News – Friday 27th January 2017
27th January 2017
Here’s your daily Reinsurance News for Friday 27th January 2017: Normalised catastrophe burden expected for reinsurers in Q4: Deutsche Bank A more normalised loss experience in the fourth-quarter of 2016 is expected to see European reinsurers use up or exceed their Q4 catastrophe budgets, according to analysts at Deutsche Bank. Read the full article
Cayman captive insurer registrations almost double in 2016
20th January 2017
Growth figures for captive insurance, reinsurance, life and annuity company formations in the Cayman Islands nearly doubled in 2016. The Cayman Islands insurance management industry has reported figures rising from 22 new formations in 2015 to 39 in 2016. Total premiums written for the sector were at $14.6 billion, up from U.S. ... Read the full article
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