Reinsurance News
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Suncorp speaks out against Australian government-backed reinsurance pool proposal
26th April 2017
Insurer Suncorp has added its voice to the group of politicians and insurers dissenting from the Australian government's proposal to create a state-backed cyclone insurer or reinsurance pool, arguing that it would be unfair to Australian taxpayers and inefficient compared with risk mitigation efforts. Last year the government issued a report ... Read the full article
Cyber breach costs to skyrocket with new European data regulation: Study
25th April 2017
Severe cyber breaches cost PLCs 1.8% of company value or £120 million, according to a new CGI study, and these figures are set to skyrocket in the future as General Data Protection Regulation in Europe requiring firms to reveal cyber breaches is rolled out - a move which could see European ... Read the full article
AIR Worldwide launches new cyber risk application for re/insurance markets
24th April 2017
Catastrophe risk modeling firm AIR Worldwide today released ARC (Analytics of Risk from Cyber), a cyber risk modeling application that can evaluate any commercial policy, and measure aggregations of cyber risk within a company's portfolio, allowing for easy assessment of key firms' cyber risk from across the globe. The application uses ... Read the full article
Swiss Re adds three new experienced leaders to Board of Directors
24th April 2017
Reinsurance giant Swiss Re has revealed the addition of three new members to its Board of Directors, the re-election of all proposed Board Members, as well as an increase in regular dividend and a new public share buy-back programme, all approved by its shareholders. Swiss Re shareholders have approved the proposed election ... Read the full article
Reinsurance News – Tuesday 18th April 2017
18th April 2017
Here’s your daily Reinsurance News for Tuesday 18th April 2017: Swiss Re sets up Singapore reinsurance entity to be Asian HQ Reinsurer Swiss Re has established a legal entity in Singapore that will also serve as the firm's Asian headquarters. 2017 an “environment of cautious optimism” for U.S. & ... Read the full article
Reinsurance News – Thursday 13th April 2017
13th April 2017
Here’s your daily Reinsurance News for Thursday 13th April 2017: Swiss Re sees its cyclone Debbie loss at US$350m, industry at $1.3bn Reinsurance giant Swiss Re has revealed that it expects an estimated loss from Cyclone Debbie of roughly $350 million, and has put the insured market loss at around $1.3 ... Read the full article
Reinsurance News – Wednesday 12th April 2017
12th April 2017
Here’s your daily Reinsurance News for Wednesday 12th April 2017: Traditional reinsurance capital declined by $3 billion in Q4 2016: Aon During the final quarter of 2016 the volume of traditional reinsurance capital declined by $3 billion, while the level of alternative capital increased by $3 billion, meaning overall reinsurance capacity ... Read the full article
Reinsurance News – Monday 3rd April 2017
3rd April 2017
Here’s your daily Reinsurance News for Monday 3rd April 2017: Reinsurers to pick up Cyclone Debbie bill Reinsurance capacity is likely to cover the majority of the cyclone Debbie claims, which are thought to be at around the same level as 2011’s Yasi. Discipline sees Munich Re’s dividend payouts outpace ... Read the full article
Reinsurers to pick up Cyclone Debbie bill
31st March 2017
Reinsurance is likely to pick up the majority of cyclone Debbie claims which are thought likely to be around the cyclone Yasi level of AU$1.4 billion after heavy winds and torrential rains devastated the northern Queensland coastline causing the worst floods the region has seen in 50 years. As those affected ... Read the full article
Demand surged in German non-life reinsurance: A.M. Best
31st March 2017
Demand for non-life reinsurance in Germany has surged at a rate that nearly doubles cedants' gross written premiums (GWP) growth, said A.M. Best in a report on Germany's 20 largest cedants' reinsurance purchasing trends. The global rating agency said the last full-year data available showed "Germany’s 20 largest cedants collectively posted a 13.1% ... Read the full article
XL Catlin names Tuplin International Head of Cyber & Tech, Media & Telecoms
23rd March 2017
Insurer and reinsurer XL Catlin has named James Tuplin Head of Cyber & Technology, Media and Telecoms, International, based in the firm's London office. In his new role Tuplin will be responsible for the underwriting of cyber insurance and professional indemnity insurance for the technology and media sectors. Tuplin has roughly 15 years ... Read the full article
Reinsurance News – Friday 17th March 2017
17th March 2017
Here’s your daily Reinsurance News for Friday 17th March 2017: Major reinsurers combined ratios over 100% on normalised basis: Fitch Analysis from rating agency Fitch claims that on a normalised basis the combined ratios of some of the largest European reinsurers exceeded 100% in 2016. Trump’s budget proposes scrapping ... Read the full article
Swiss Re Board of Directors proposes election of three new members
16th March 2017
The Board of Directors at global reinsurer Swiss Re has proposed to elect three new non-executive and independent board members, in Jay Ralph, Joerg Reinhardt and Jacques de Vaucleroy. The reinsurance giant announced in a recent statement that its Board of Directors proposes to elect the new members at the AGM on ... Read the full article
Reinsurance helps Microsoft make its cloud data centers greener
16th March 2017
Software and technology giant Microsoft is leveraging the reinsurance market to help it access sources of renewable energy while bearing less risk, making its data centers which provide cloud services greener. Reinsurers are attracted to renewable energy risks as they can often be considered a diversifying risk, versus the more typical ... Read the full article
Reinsurance News – Wednesday 15th March 2017
15th March 2017
Here’s your daily Reinsurance News for Wednesday 15th March 2017: Conservative guidance given as Munich Re sets itself up for ongoing softness Reinsurance giant Munich Re has announced a conservative profit guidance for 2017, targeting a range of between €2 billion to €2.4 billion, in response to the softening marketplace. ... Read the full article