Reinsurance News
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Reinsurance News – Thursday 16th February 2017
16th February 2017
Here’s your daily Reinsurance News for Thursday 16th February 2017: Qatar Re promotes two to chief underwriting officer positions Reinsurer Qatar Re has announced two promotions, including Luke Roden to CUO, Short Tail Classes, and Michael van der Straaten to CUO, Long Tail & Speciality Classes. MS Amlin ... Read the full article
Reinsurance News – Wednesday 15th February 2017
15th February 2017
Here’s your daily Reinsurance News for Wednesday 15th February 2017: AIG reserve charge to be offset by NICO adverse development reinsurance AIG has reported its fourth-quarter 2016 results, posting a $2.79 billion after-tax operating loss as a result of a huge $5.6 billion Q4 reserve charge. The reserve charge ... Read the full article
2016 insured catastrophe losses total $39.5 billion: Willis Re
10th February 2017
2016’s insured loss estimates have smashed expectations reaching $39.5 billion, the highest figure since four years, when 2012 losses rose to $60 billion, according to reinsurance broker Willis Re. The global advisory broking and solutions company released a report today listing last year’s major natural catastrophe event losses in terms of ... Read the full article
Reinsurance News – Friday 10th February 2017
10th February 2017
Here’s your daily Reinsurance News for Friday 10th February 2017: Zurich claims on Farmers aggregate reinsurance for first time For the first time ever Zurich Insurance had to claim on its Farmers aggregate reinsurance treaty, as catastrophe losses in 2016 increased to more than $1.3 billion. Swiss Re ... Read the full article
U.S. weather & Chile fires lead January Catastrophe losses: Aon Benfield
8th February 2017
U.S. severe weather and Chile wildfires have led January’s catastrophe loss events, with U.S. weather losses exceeding $1 billion and Chile following with $890 million in losses after its worst wildfire event in modern history. Aon Benfield’s monthly Global Catastrophe report has released figures for January, revealing a month ... Read the full article
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 – Thursday 2nd February 2017
2nd February 2017
Here’s your daily Reinsurance News for Thursday 2nd February 2017: Hannover Re increases profit guidance for 2017 to €1bn+ Reinsurance giant Hannover Re has increased its profit guidance for 2017 to more than €1 billion ($1.1 billion), after a strong round of treaty renewals at January 1st, 2017. Read the full article
PERILS and CatIQ partner on Canadian loss data
1st February 2017
PERILS AG, the Swiss-based catastrophe insurance data provider, has formed a strategic alliance with Toronto-based Catastrophe Indices & Quantification (CatIQ) to provide Canada with industry loss data. The strategic partnership will see data for Canadian natural catastrophes with a market loss of CAD300 million (USD230mn) or above compiled by CatIQ and ... Read the full article
Reinsurance News – Tuesday 31st January 2017
31st January 2017
Here’s your daily Reinsurance News for Tuesday 31st January 2017: $200bn loss won’t floor London re/insurance market A catastrophe stress test of London insurers and reinsurers reveals that a $200 billion loss scenario could significantly reduce the market's capital base, but is unlikely to cripple the marketplace. Aspen ... 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
Asian reinsurance sector to become more competitive in 2017: Aon
25th January 2017
The Asian reinsurance market showed signs of stabilisation but continued to soften last year as new players vied for a market share and traditional players reinvented their game with start-ups, re/insurance broker Aon reported in its 2017 Asia review. Aon explained that reinsurance prices were beginning to bottom out but may ... 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 – 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
Multi-peril catastrophe model for re/insurance in Vietnam launched
13th January 2017
A multi-peril flood catastrophe model for the insurance and reinsurance industry has been released by JBA Risk Management, to aid risk management in Vietnam, where insurance is one of the fastest growing sectors of the economy. JBA Risk Management, a provider of natural hazard modelling services, created the Vietnam Flood Probabilistic Model ... Read the full article
Operating landscape a new reality for reinsurers: A.M. Best
11th January 2017
Global reinsurance companies are faced with a new market reality of lower returns and increased dependency on underwriting for profits, explains ratings agency A.M. Best. The softened reinsurance landscape has persisted for some time now, and reinsurers are finding it increasingly difficult to achieve the kind of returns on their underwriting ... Read the full article