Reinsurance News

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Reinsurance News – Monday 13th March 2017

13th March 2017

Here’s your daily Reinsurance News for Monday 13th March 2017: FEMA to build on “cornerstone” NFIP flood reinsurance placement The Federal Emergency Management Agency (FEMA) will reportedly look to build on its “cornerstone” flood reinsurance placement, in an effort to better protect the NFIP. Ogden rate cut could raise ... Read the full article

Reinsurance News – Friday 10th March 2017

10th March 2017

Here’s your daily Reinsurance News for Friday 10th March 2017: Validus finds up to 15% of NFIP flood policies attractively priced Insurer and reinsurer Validus has revealed that after analysing the National Flood Insurance Program’s risk profile, it deems it would underwrite as much of 15% of the risk on ... Read the full article

Hannover Re focuses on profits not premium

9th March 2017

Reporting its results this morning, global reinsurance firm Hannover Re stressed that it is targeting profitability, not simply accumulating premiums, in the still challenging and soft reinsurance market environment. Hannover Re reported its fifth consecutive record result this morning, with net income across the reinsurer rising by 1.8% to EUR 1.17 ... Read the full article

Technology and getting closer to the risk key for Munich Re: Doris Höpke

8th March 2017

Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article

Reinsurance News – Wednesday 8th March 2017

8th March 2017

Here’s your daily Reinsurance News for Wednesday 8th March 2017: Ogden rate change further pressures unprofitable UK motor sector: A.M. Best Rating agency A.M. Best has warned that UK motor insurers and reinsurers are likely to experience the greatest impact from the reduction to the Ogden discount rate, with a number ... Read the full article

Locke Lord hires Montgomery to build London re/insurance team

7th March 2017

International law firm Locke Lord has set out to build its first London re/insurance team with newly hired insurance consultant expert Nigel Montgomery set to take the reins. Nigel Montgomery, who has been recognised by The Legal 500 UK as a leading individual in insurance and restructuring, brings extensive experience in ... Read the full article

Reinsurance News – Tuesday 7th March 2017

7th March 2017

Here’s your daily Reinsurance News for Tuesday 7th March 2017: Warren Buffett cautions against underwriting at any cost Berkshire Hathaway's Warren Buffett warned reinsurers against underwriting business at any cost in his annual letter to shareholders. AXIS expects $50m Ogden rate hit to UK motor reinsurance business Insurance and reinsurance ... Read the full article

Hiscox Re finding opportunities in casualty & speciality lines

6th March 2017

Insurer and reinsurer Hiscox has reported a record year for profit in 2016 despite tough market conditions and helped by the performance of its Hiscox Re and insurance-linked securities (ILS) unit where it found opportunity for growth in casualty and specialty business lines. Overall, the re/insurer reported a record £354.4 million profit ... Read the full article

Reinsurance News – Friday 3rd March 2017

3rd March 2017

Here’s your daily Reinsurance News for Friday 3rd March 2017: Pool Re ups retro reinsurance protection to almost £2 billion UK government and industry backed terrorism reinsurance scheme, Pool Re, has grown the size of its retrocessional reinsurance program to nearly £2 billion. U.S. hurricane tail risk could be ... Read the full article

Reinsurance News – Thursday 2nd March 2017

2nd March 2017

Here’s your daily Reinsurance News for Thursday 2nd March 2017: 2016 U.S. catastrophe frequency the highest since 1980: PCS Catastrophe frequency in the U.S. in 2016 was the highest since 1980 according to PCS, with 43 events incurring insured losses of around $21 billion. Higher reinsurance costs expected after ... Read the full article

Reinsurance News – Wednesday 1st March 2017

1st March 2017

Here’s your daily Reinsurance News for Wednesday 1st March 2017: SCOR expects to save up to EUR 200m from consolidation of legal entities Global insurer and reinsurer has said that it expects to save up to €200 million from the consolidation and reorganisation of its various legal entities. China Re ... Read the full article

SCOR appoints Rachel Conran to Head of Business Solutions

23rd February 2017

Reinsurance firm SCOR Global P&C has appointed Rachel Conran as its new Head of SCOR Business Solutions - the business unit dedicated to large corporate risks. In her new role, Conran will report to Benjamin Gentsch, Deputy CEO of SCOR Global P&C and Head of Specialty Lines, she succeeds Emmanuel Fierens, ... Read the full article

Reinsurance News – Thursday 23rd February 2017

23rd February 2017

Here’s your daily Reinsurance News for Thursday 23rd February 2017: Swiss Re misses Q4 consensus, losses & pricing impact full-year result Reinsurance giant Swiss Re has reported its fourth-quarter 2016 results, revealing that impacts from natural catastrophes and the continued soft market impacted its figures. Net income in Q4 totalled $517 ... Read the full article

Reinsurance News – Wednesday 22nd February 2017

22nd February 2017

Here’s your daily Reinsurance News for Wednesday 22nd February 2017: SCOR ready to leverage “positive prospects” in reinsurance Despite the soft and challenging reinsurance market environment French reinsurer, SCOR, has reported a net income of €603 million and a return on equity of 9.5% for 2016. Interest rates cause ... Read the full article

Reinsurance News – Tuesday 21st February 2017

21st February 2017

Here’s your daily Reinsurance News for Tuesday 21st February 2017: Ogden rate revision to result in huge re/insurer reserve charge: Willis Brokerage Willis Towers Watson has warned that the proposed revision to the Ogden discount rate would see reinsurers that operate in the UK motor industry face a £4.9 billion one-off ... Read the full article