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BDO USA to expand re/insurance advisory services
24th January 2017
BDO USA, an organisation offering professional services in finance and re/insurance, today announced plans to expand its Insurance Advisory Service with James Evans set to lead the operation as managing director and national practice leader. Evans is an accredited actuary, with over 20 years experience in insurance or reinsurance and has ... Read the full article
Reinsurance News – Tuesday 24th January 2017
24th January 2017
Here’s your daily Reinsurance News for Tuesday 24th January 2017: AIG deal big enough to risk Berkshire underwriting profit: Credit Suisse The recently announced adverse development reinsurance agreement between Berkshire Hathaway and AIG is big enough to jeopardise underwriting profit in Warren Buffett's P&C business, warns Credit Suisse. Re/insurers ... Read the full article
Reinsurance News – Monday 23rd January 2017
23rd January 2017
Here’s your daily Reinsurance News for Monday 23rd January 2017: Swiss Re gets India reinsurance branch license Reinsurance giant Swiss Re has announced that it will open its new branch in India effective February 1st, 2017, after receiving final approval from the regulator. The reinsurer has also announced that Kalpana Sampat ... Read the full article
Challenges and opportunities for insurtech start-ups: A.M. Best
20th January 2017
After witnessing the fintech revolution transform the finance world, re/insurers are moving quickly to invest in insurtech start-ups - a technological revolution pushed by tough market conditions and pulled forwards by massive possibilities. The huge influx of capital means carriers are coming under increasing pressure to find more ... Read the full article
Reinsurance News – Friday 20th January 2017
20th January 2017
Here’s your daily Reinsurance News for Friday 20th January 2017: Lloyd's get final approval, to launch in India before April renewals The Lloyd's of London insurance and reinsurance marketplace has received final approval from the IRDAI to establish a branch in India, and plans to launch before the April reinsurance ... Read the full article
InsurTech innovation key to re/insurers survival: Davos WEF 2017
19th January 2017
At the 2017 World Economic Forum in Davos the technological revolution and strategies for how to remain on the cutting-edge of the innovation race have been a focal point for industry experts across finance, insurance and reinsurance industries. John Cryan, Deutsche Bank CEO, named effectively using technology as the key to ... 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
Willis Towers Watson names Faber as Global Financial Lines leader
17th January 2017
Insurance and reinsurance broking specialists Willis Towers Watson has appointed Alexis Faber as Global Head of Financial Lines, a promotion from her current role as co-head. The unit comprises Financial and Executive Lines of insurance business, Financial Solutions and other financial products and is part of the company’s Corporate Risk & ... Read the full article
“Too early to see a turn in the market,” says RBC
16th January 2017
The RBC Capital Markets analysts concluded after their sixth annual London Market trip meeting that despite pricing declines beginning to slow, 2017 would be too soon to see a turn in the market. Insurers still turned a profit in 2016, but results have begun to deteriorate, RBC reported. Overall prices fell by around ... Read the full article
Business Interruption remains top on list of threats; Allianz
11th January 2017
Business Interruption (BI), exacerbated by the growing threat from supplier failure, cyber incidents and terrorist events, remains the top perceived global insurance risk, according to a survey by Allianz Global Corporate & Specialty (AGCS). After a year of shocks and political perils, companies greatly fear the rising protectionism and anti-globalisation trend, ... Read the full article
Reinsurance News – Wednesday 11th January 2017
11th January 2017
Here’s your daily Reinsurance News for Wednesday 11th January 2017: Intense market competition pushes reinsurers towards M&A: A.M. Best International ratings agency A.M. Best has said that continued intense competition in the reinsurance industry is pushing companies closer to M&A activity. Hurricane Matthew claims up 10% to ... Read the full article
Insurers take advantage of buyers market at 1 Jan renewals: Aon Benfield
9th January 2017
Some reinsurance buyers took advantage of favourable terms and conditions (T&C) and the efficient wealth of reinsurance capacity at the key January 1st 2017 renewals, resulting in an increased demand for protection in more developed regions, according to Aon Benfield. As expected, the softening reinsurance environment persisted into 2017 and industry players ... Read the full article
Reinsurance News – Monday 9th January 2017
9th January 2017
Here’s your daily Reinsurance News for Monday 9th January 2017: Global reinsurance capacity hits $595bn: Aon Benfield Global reinsurance capital hit a new high of $595 billion over the nine months to September 30th, 2016, an increase of 5.3%, according to reinsurance broker Aon Benfield. Brit grows ... Read the full article
China remains top priority for Lloyd’s re/insurance market growth
9th January 2017
Lloyd’s of London chairman John Nelson told China Daily that China is the most important market for its long-term growth. With dark clouds brewing on the insurance and reinsurance market horizon, in what Nelson describes as a ‘perfect storm’; low interest rates and excessive capital driving down investment returns and premiums ... Read the full article
Reinsurance News – Friday 6th January 2017
6th January 2017
Here’s your daily Reinsurance News for Friday 6th January 2017: Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter Reinsurance price declines moderated at the key January 1st 2017 renewals, when compared with the previous three years, across most business lines, according to reinsurance broker Guy Carpenter. Read the full article
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