Reinsurance News

Your search for “cyber”

Re/insurance regulation must be future proof & technology neutral: Insurance Europe

20th June 2017

Insurance Europe said the European Commission should ensure regulation is future proof and technology neutral after a recent consultation on Fintech appears to have left the commission poised to tackle unjustified obstacles to digital innovation. The European re/insurance federation emphasized that regulation should be "technology neutral," - focused on activity, not technology, to ensure ... Read the full article

Ed makes five appointments as it expands professional and executive risks business

20th June 2017

Reinsurance broker Ed has made five new appointments as it looks to expand its professional & executive risk operations, which will be led by Paul Richards as Managing Director. The broker has named James Baird as Director, Neal Hughes as Divisional Director, Rupert Alabaster as Divisional Director, and James Faith as Producer/Broker. Chris ... Read the full article

Allianz warns against complacency despite 50% decline in global shipping losses

15th June 2017

Analysis by Allianz Global Corporate & Specialty (AGCS), a division of global insurer Allianz, reveals that worldwide shipping losses declined by 50% in 2016 over the last ten years. However, with areas of concern appearing to be on the rise and budgets coming under increasing strain, the insurer warns against ... Read the full article

Large UK companies concerned over crisis resilience, finds AJG report

14th June 2017

Research by YouGov that was commissioned by Arthur J. Gallagher reveals that a quarter of large UK companies are concerned about their crisis resilience in response to rising threats, such as cyber attacks and terror events, further highlighting the need for important and adequate risk transfer solutions. According to the research ... Read the full article

Neon buys Guernsey MGA Sapphire Underwriters

14th June 2017

Insurance and reinsurance specialist Neon has acquired a Guernsey-based managing general agent (MGA) Sapphire Underwriters, as it builds an international footprint in offshore re/insurance markets. Neon acquired Sapphire from its current owners Heritage Group. Following completion of the acquisition, the MGA will operate under a brand of Neon Sapphire, with its ... Read the full article

“Ignoring emerging risks is not an option,” says Swiss Re’s Patrick Raaflaub

13th June 2017

Swiss Re's Group Chief Risk Officer (CRO), Patrick Raaflaub, warned re/insurers to take a proactive stance to prepare for emerging risks, after the reinsurance giant released its 2017 SONAR report with insights on top risks set to threaten society and shape demands on the re/insurance world in coming years. Raaflaub said; "Ignoring emerging ... Read the full article

Digital infrastructure in Africa – cutting out re/insurance middle men for faster development

12th June 2017

Digital technologies and development finance are swiftly building re/insurance solutions in countries most vulnerable to climate change, and cutting out the need for reliance on non-existent or flailing public-private partnerships, said Lars Thunell, chairman of African Risk Capacity Insurance, at the African Development Bank meetings in Ahmedabad. Developing countries often lack public-private partnership ... Read the full article

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