Reinsurance News

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EY hires Barclays Deputy Head of Insurance as a Director

5th September 2017

Dan Broome has joined EY from Barclays Bank as a Director to support the development of an additional insurance sector offering as part of its Financial Services Debt Advisory division. EY launched its Financial Services Debt Advisory team in September 2015, which now consists of seven people, and the appointment of ... Read the full article

Top 50 Global Reinsurance Groups

4th September 2017

Top 50 Global Reinsurance Groups This Top 50 Global Reinsurance Groups directory is based on research data from rating agency A.M. Best. Listing the top reinsurers in the world, this directory provides a simple way to analyse the world's top reinsurance companies. The global reinsurance groups featured are ranked by unaffiliated gross reinsurance ... Read the full article

Ghana Re announces new board members

1st September 2017

Ghana's state-owned reinsurer, Ghana Re, has sworn in new board members as Ghana's Ministry of Finance re-establishes the board as part of a drive to narrow the economy's investment gap with national savings. Board members now include The Board Chairman, George Otoo, and George Mensah, Francis Sapara Grant, Marian Mensah, Jennifer Owusu, and ... Read the full article

SCOR opens non-life reinsurance office in Kenya

24th August 2017

French reinsurance firm SCOR is opening a new SCOR Global P&C SE representative office focusing on non-life reinsurance in Nairobi, Kenya. Following up on an initial approval granted in April 2016, the Insurance Regulatory Authority of Kenya (IRA) has now confirmed that it approves the opening of a SCOR Global P&C ... Read the full article

Russia’s national reinsurer approved to enter Egyptian specialty market

24th August 2017

The Russian National Reinsurance Company (RNRC) has received approval from the Egyptian market watchdog to operate as a foreign reinsurance company in the local specialty market. The approval means that RNRC is now included in the Egyptian local official register of the foreign reinsurers, and the entry is a continuation of ... Read the full article

Zimre Holdings to dispose of assets to fund growth strategy: Reports

23rd August 2017

Zimre Holdings Limited has reportedly started negotiations to dispose some of its assets in order to fund its future growth plans, according to The Herald Business. According to industry reports, the financial services group announced last week that it has started negotiations over the disposal of certain assets as the company ... Read the full article

Kemah Capital signs underwriting agreement with Berkshire Hathaway companies

21st August 2017

Specialty lines managing general agency (MGA) Kemah Capital has entered into an agreement with members of the Berkshire Hathaway group of re/insurance companies that will see it underwrite a portfolio of business for the firms. The underwriting agency agreement will allow Kemah Capital to write a varied portfolio on behalf of ... Read the full article

Sompo Canopius adds credit & political risk underwriter

16th August 2017

Sompo Canopius AG has continued to strengthen its credit & political risk team with the appointment of Stephen Pike as credit & political risk underwriter. Pike joins global specialty insurance and reinsurance firm Sompo Canopius in October and will report to Bernie de Haldevang, global head of specialty at the re/insurer. He ... Read the full article

GIC Re plans ambitious international growth including Lloyd’s syndicate

10th August 2017

Indian state-owned General Insurance Corporation (GIC Re) has announced ambitious plans to diversify its revenue base into the life segment and expand business lines throughout the global market, in a red herring prospectus. The firm recently filed an Initial Public Offering (IPO) constituting 14.22% of the firm’s post-offer paid-up equity share ... Read the full article

Insurance sector M&A declines in H1 but expected to rebound: Clyde & co

8th August 2017

The volume of insurance mergers and acquisitions (M&A) in the first-half of 2017 declined by 8.6% to 170 deals when compared with the preceding six months, although more deals are expected in the remainder of the year, according to Clyde & Co. Clyde & Co's recently published mid-year 2017 Growth Report ... Read the full article

THB names Rodrigo Botelho Director of its European division

31st July 2017

Specialist insurance and reinsurance brokerage, THB, has named Rodrigo Botelho Director of its European division, in a move designed to expand the firms reinsurance capabilties, effective October 1st, 2017. Botelho joins the firm from Universal Seguros in Angola and will be based in the firm's Amsterdam, Holland office. Prior to Universal Seguros he held ... Read the full article

SCOR continues global expansion, announces new share buy-back

27th July 2017

French headquartered global reinsurance firm SCOR has reported another set of results which are largely in-line with or beat analyst expectations, while also showing that the firm continues to expand its footprint globally. At a time when many in the reinsurance market have been pulling-back, or contracting their reinsurance underwriting while ... Read the full article

Ironshore launches Project Cargo Consortium to service China’s Belt & Road Initiative

26th July 2017

Ironshore’s Pembroke Managing Agency has launched a Project Cargo Consortium with a capacity limit of up to U.S. $178 million to expand Lloyd’s China platform for increased coverage of the Belt & Road Initiative.  The cargo consortium aims to service one of the world's greatest infrastructure programmes; ... Read the full article

QIC’s underwriting income drops 40% on Ogden & large risk losses

25th July 2017

Qatar Insurance Company (QIC) has revealed that its net underwriting income declined by 40% in the first-half of 2017 when compared with the previous year, which the firm says was driven by large losses and the UK government's decision to lower the Ogden Discount Rate to -0.75%. QIC Group's net underwriting ... Read the full article

Everest Re’s continued growth drives profits higher

25th July 2017

Global reinsurance firm Everest Re is the first of the majors to report second-quarter 2017 earnings and the statement shows that the expansive underwriter continues to find opportunities for growth, with premiums written up 17%, helping to drive profits higher, with after-tax income rising almost 70% to $227.5 million. President and ... Read the full article