Reinsurance News
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Canopius names Trevor Moss as Head of Investor Relations
18th January 2022
Global specialty insurer and reinsurer, Canopius Group, has hired Trevor Moss from Agency Partners as Head of Investor Relations, effective March 2022. In his new role, Moss will work with investors, analysts and banks to offer the firm an 'outside-in' perspective of its market, as part of the re/insurer's continued investigation ... Read the full article
Allianz exploring asset transfer amid Structured Alpha probe: reports
28th September 2021
Allianz is reportedly in discussions with Resolution Life regarding a potential transfer of a block of Swiss life insurance assets, in a move that could free up regulatory capital for the ongoing investigation into its asset management arm. Sources at Bloomberg say Allianz and Resolution have been working with advisors on ... Read the full article
Insured loss from North Rhine-Westphalia & Rhineland-Palatinate floods at €4-5bn: GDV
21st July 2021
The devastating flooding experienced in the German states of North Rhine-Westphalia and Rhineland-Palatinate is expected to drive insurance and reinsurance industry losses of between €4 billion and €5 billion, according to the German Insurance Association (GDV). Last week’s flooding impacted parts of Central and Western Europe, including Belgium, the Netherlands, and ... Read the full article
Analysts believe a sale of XL Re could be positive for AXA
28th June 2021
Following news this morning that French, non-life mutual insurer Covéa is exploring a move for the reinsurance business of AXA XL, analysts feel a sale could be positive for AXA and increase its valuation by up to 6%. After failing to acquire SCOR in 2018, and then seeing its agreement to ... Read the full article
COVID losses likely to exceed Lloyd’s estimate, says Brit
12th February 2021
Specialty insurer and reinsurer Brit has suggested that the COVID-19 pandemic could “significantly exceed” the $107 billion claims estimate predicted by Lloyd’s last year. The comments contrast with the view of some other analysts, such as those at Berenberg, who recently reduced their industry loss estimate from $50-70 billion to ... Read the full article
Hurricane Laura losses manageable on current data: analysts
27th August 2020
Despite Hurricane Laura having become one of the 10 largest storms ever to hit the continental US, analysts from Berenberg and KBW have noted that insured losses will likely remain manageable, unless losses far exceed current expectations. While still too early to provide a concrete outlook, Berenberg notes how the extent to ... Read the full article
Munich Re best placed to withstand Atlantic hurricane losses, analysts
27th July 2020
As we approach the peak months for the 2020 Atlantic hurricane season, analysts at investment bank Berenberg believe that Munich Re is the best placed to withstand a worst-case scenario. Even in a worst-case scenario, analysts state that Munich Re’s excess capital would only reduce by around 36% at the end ... Read the full article
SCOR never had discussions with PartnerRe, affirms CEO Kessler
12th February 2019
Denis Kessler, Chief Executive Officer (CEO) of French reinsurer SCOR, has reaffirmed that the company has never had discussions with Bermudian reinsurer PartnerRe regarding a potential merger scenario. Rumours about a possible combination between the two companies have circulated since SCOR rejected an €8.2 billion takeover bid from Covéa last year ... Read the full article
SCOR-PartnerRe combo could produce top-three reinsurer, say analysts
8th February 2019
A potential merger deal between French reinsurer SCOR and Bermuda-based PartnerRe would make strategic sense for both firms and could produce a combined entity that ranks in the top-three global reinsurers, according to analysts at AlphaValue. Rumours about a potential deal between the companies have been circulating since SCOR rejected an ... Read the full article
SCOR shares rise 19% as deal anticipation builds: J.P. Morgan
9th October 2018
SCOR shares have risen 19% since French insurance group Covéa first revealed its interest in acquiring the reinsurer, and are now approaching the €43 share price offered by Covéa’s initial €8.2 billion (US $9.6 billion) bid, according to J.P. Morgan. Analysts at the firm believe this continued strong price action ... Read the full article
UK life insurers report strong business volumes: PwC
27th September 2017
UK life insurers reported an optimistic outlook with strong volumes of business in the last three months - a contrast to insurance brokers who saw their market position stagnate as growth stalled for the first time in four years, according to the latest CBI/PwC financial services survey. The thriving life insurance is ... Read the full article
Reinsurance News – Thursday 6th April 2017
6th April 2017
Here’s your daily Reinsurance News for Thursday 6th April 2017: Cyclone Debbie blows the lid on IAG’s reinsurance cover Insurance Australia Group (IAG) expects to fully use up its FY17-specific reinsurance cover of $96 million after Cyclone Debbie raised the insurer’s FY17 net natural peril claim cost estimations to $850 million. Read the full article
Reinsurance News – Friday 31st March 2017
31st March 2017
Here’s your daily Reinsurance News for Friday 31st March 2017: Bermuda reinsurance market returns hit five-year low: A.M. Best Rating agency A.M. Best has highlighted the challenges in the Bermudian reinsurance market, noting that negative trends are increasingly evident. Protection gap is not just an emerging market issue: ... Read the full article
Higher reinsurance costs expected after Ogden rate cut: Fitch
1st March 2017
UK motor insurers will likely face increased reinsurance costs after the government announced plans to reduce the Ogden discount rate from 2.5% to -0.75%, Fitch Ratings has warned. Although re/insurers likely to be affected by the rate have been proactive in preparing for the rate change, a drop to a negative ... Read the full article
Ogden discount rate cut to -0.75%, re/insurers expect profit impact
27th February 2017
Liz Truss, the Lord Chancellor and Justice Secretary, has announced a steeper than expected cut to the Ogden discount rate from 2.5% to -0.75%, in a move that has already caused some insurers and reinsurers to warn of lower profit expectations. "The law is absolutely clear - as Lord Chancellor, I must ... Read the full article