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Aon reports 8% organic reinsurance revenue growth
26th October 2018
Insurance and reinsurance broking powerhouse Aon has reported 8% organic revenue growth for its reinsurance broking operations during the third-quarter of 2018. Aon's results show that total revenue was flat across the company at $2.3 billion, but that factors in a decrease of $117 million, or 6%, related to the FASB's ... Read the full article
Munich Re’s HSB identifies rise in business email scam losses
24th October 2018
A new survey by The Hartford Steam Boiler Inspection and Insurance Company (HSB), a subsidiary of reinsurance giant Munich Re, has identified a rise in losses related to fraudulent business emails in the U.S. HSB found that 58% of business executives polled by cyber insurance and services provider Zogby Analytics said ... Read the full article
Hannover Re expects modestly higher premiums and stable conditions in Germany
22nd October 2018
E+S Rück, a subsidiary of Hannover Re responsible for the group’s German business, continues to expect positive premium development in the country’s market for the upcoming round of treaty renewals as at 1 January 2019, albeit at a somewhat more muted pace than in the previous year. "Against the backdrop of ... Read the full article
Reinsurance products backed by alternative capital have become mainstream: WTW
22nd October 2018
End investors, Insurance Linked Securities (ILS) funds, and buyers – the three groups active in ILS – have mostly weathered last year’s substantial loss activity with a view that reinsurance products backed by alternative capital have become mainstream, according to a new survey by Willis Towers Watson. In fact, the 2017 ... Read the full article
London company market premium income surges by 16% to £26bn: IUA
17th October 2018
Premium income in the London company market jumped to £26.314 billion in 2017, a 16% increase from the previous year, according to a report by the International Underwriting Association (IUA). Gross written premium in London for 2017 was £18.331 billion, with an additional £7.984 billion identified as written in other locations, ... Read the full article
Allianz subsidiary in contingent BI agreement with Just Energy Group
16th October 2018
Interstate Fire & Casualty Company (IFCC), a subsidiary of Allianz Global Corporate & Specialty SE (AGCS), has entered into a multi-year contingent business interruption insurance agreement with Just Energy Group Inc. Just Energy Group, a consumer company that specialises in electricity and natural gas commodities, energy efficient solutions and renewable energy options, ... Read the full article
IFTRIP addresses emerging terror risks at 2nd annual conference
15th October 2018
The International Forum of Terrorism Risk Re/Insurance Pools (IFTRIP) has convened at a 2nd annual conference in Moscow to address a variety of emerging terror threats and risk mitigation strategies. The event, which followed a series of closed session meetings involving terrorism risk finance experts from across the world, brought together ... Read the full article
Evolving terror threat challenges the entire value chain: Guy Carpenter
8th October 2018
The rapidly evolving nature of the global terror threat is proving challenging to the entire re/insurance value chain, according to reinsurance broker Guy Carpenter, although the industry is well placed to meet its demands head on. The Marsh & McLennan Companies subsidiary claimed that now more than ever, brokers and underwriters ... Read the full article
Maritime industry unprepared to deal with global issues, reports Marsh
5th October 2018
The global maritime industry is not prepared to deal with major issues that are likely to impact it over the next ten years, according to senior maritime stakeholders surveyed in an industry report backed by global insurance broker and risk adviser, Marsh. The report examines the impact and likelihood of 17 ... Read the full article
Hannover Re “takes advantage” of expanding alternative capital space: Henning Ludolphs
3rd October 2018
Germany-based reinsurance giant Hannover Re is embracing varied forms of alternative, or third-party reinsurance capital structures and solutions, and anticipates continued growth for the insurance-linked securities (ILS) sector in the future. Alternative reinsurance capital continues to grow its share of dedicated reinsurance capital, expanding to $95 billion during the first-quarter ... Read the full article
RCM&D and Risk Cooperative enter strategic partnership
27th September 2018
RCM&D, an independent re/insurance brokerage and risk advisory firm, has entered a strategic partnership with Risk Cooperative, a risk and insurance advisory firm and coverholder at Lloyd’s in Washington, D.C. The partnership is expected to strengthen RCM&D’s regional presence in the mid-Atlantic, which already includes offices in Baltimore, Harrisburg, Philadelphia, and ... Read the full article
G20 Insurance Forum to outline insurers’ role in tackling global challenges
26th September 2018
A series of discussions are due to take place in Argentina this week as the G20 Insurance Forum examines the role of insurers in tackling global challenges. The forum’s first session will examine insurers’ role in boosting resilience and stability in society, and the part insurers play in food security and ... Read the full article
Sub-Saharan Africa reinsurance markets grow despite difficulties: A.M. Best
26th September 2018
Reinsurance markets in Sub-Saharan Africa have experienced material growth over the past decade despite the ongoing challenges of a difficult operating environment, competitive pressures on underwriting activities, and economic and political instability, according to a report by A.M. Best. In recent years, much of the region has faced high inflation, currency ... Read the full article
Potential for alternative capital to expand beyond nat cat: Hannover Re CEO Wallin
25th September 2018
As alternative capital continues to play an increasingly important role in the natural catastrophe space, Hannover Re’s Chief Executive Officer (CEO) Ulrich Wallin has discussed the potential for these markets to be utilised in other areas of the reinsurance industry. Speaking in an interview with Reinsurance News, Wallin noted that, following ... Read the full article
Almost 90% of re/insurers believe innovation is critical: A.M. Best
25th September 2018
Nearly 90% of re/insurers believe that innovation is critical to the success of their organisation in terms of addressing customers' needs, gaining a competitive advantage, and realising operational efficiencies, according to the results of a new A.M. Best survey. The survey, which questioned more than 450 re/insurers across 48 markets, found ... Read the full article
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