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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
NAICOM urged to level playing field for Nigerian reinsurers
14th March 2017
Pan-African reinsurance company Africa Re has an unfair, dominant share of the Nigerian reinsurance market, which is causing local reinsurance companies to perform below expectations, according to reports from the region. This is according to online Nigerian insurance and pension news reporting website Inspenonline, which, citing an unnamed industry expert, says that Africa ... Read the full article
Philippines to chair APEC Disaster Risk & Insurance strategy
14th March 2017
Philippines Finance Secretary Carlos G. Dominguez III has accepted Peru’s offer to act as chairman of the Asia-Pacific Economic Cooperation’s (APEC) Disaster Risk Finance and Insurance strategy (DRFI), Business World reported this morning. The DRFI is responsible for developing financial protection strategies to improve government’s resilience and quick-response measures to disasters ... Read the full article
Reinsurance News – Monday 13th March 2017
13th March 2017
Here’s your daily Reinsurance News for Monday 13th March 2017: FEMA to build on “cornerstone” NFIP flood reinsurance placement The Federal Emergency Management Agency (FEMA) will reportedly look to build on its “cornerstone” flood reinsurance placement, in an effort to better protect the NFIP. Ogden rate cut could raise ... Read the full article
Reinsurance News – Thursday 9th March 2017
9th March 2017
Here’s your daily Reinsurance News for Thursday 9th March 2017: Regulatory equivalence, new trade deal are key Brexit concerns: LMG The London Market Group (LMG) has called for the UK government to ensure regulatory equivalence is maintained following Brexit, asking for a new trade deal to be secured with the EU. Read the full article
MENA re/insurers expect insurance premiums to outgrow GDP
8th March 2017
A MENA Insurance Pulse 2017 survey conducted with senior re/insurance executives operating throughout the Middle East and North Africa, reveals an optimistic outlook within industry circles with 76% of participants expecting insurance premiums to outgrow the regions GDP. This forecast comes despite increasing geopolitical instability and continued economic slowdown. The survey is ... Read the full article
Technology and getting closer to the risk key for Munich Re: Doris Höpke
8th March 2017
Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Reinsurancene.ws. Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article
PartnerRe hires Cabrera from Aon Benfield to head up Latin America
3rd March 2017
Reinsurance firm PartnerRe has hired Humberto Cabrera, coming from broker Aon Benfield, to the role of Head of Latin America, where he will lead the reinsurers business operations in that region. Cabrera will replace PartnerRe's Interim Head of Latin America, Salvatore Orlando, who will continue in his role as Head of ... Read the full article
Morocco and Ghana to cooperate on re/insurance
22nd February 2017
The African countries of Morocco and Ghana are set to establish closer ties on insurance and reinsurance, as the paid signed a raft of agreements designed to make cooperation easier between governments and the private sector. Insurance and reinsurance feature as part of the agreements signed, of which there were 25 ... Read the full article
Swiss Re backed livestock insurance scheme to payout $2 million
21st February 2017
Swiss Re has announced the Kenyan Livestock Insurance Programme (KLIP) will be making a payout of about $2 million to 12,000 Kenyan farmers at the end of February, with index-based payments pegged to satellite measurements of data set to roll out with the average payout at $170 per household. The innovative insurance programme collects ... Read the full article
Reinsurance News – Monday 20th February 2017
20th February 2017
Here’s your daily Reinsurance News for Monday 20th February 2017: Rise in large industrial claims driving reserve surprises, suggests J.P. Morgan Analysts at J.P. Morgan have warned that a rise in large industrial claims, particularly in the U.S., could be the driver of reserve charge surprises, as seen with insurer ... Read the full article
Reinsurance News – Friday 17th February 2017
17th February 2017
Here’s your daily Reinsurance News for Friday 17th February 2017: AIG hopes to renew Swiss Re casualty quota share on better terms for 2018: Hancock CEO of insurance giant AIG, Peter Hancock, recently said that he his hopeful the firm will be able to renew its casualty quota share reinsurance arrangement ... Read the full article
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
IAIS names Jonathan Dixon as new Secretary General
14th February 2017
The International Association of Insurance Supervisors (IAIS) has named Jonathan Dixon as the successor to long-time Secretary General Yoshihiro Kawai. Dixon will commence his new role in November this year, following the IAIS Annual Conference. Victoria Saporta, Chair of the IAIS Executive Committee, commented on the appointment; "Jonathan Dixon brings a unique ... Read the full article
Reinsurance News – Tuesday 14th February 2017
14th February 2017
Here’s your daily Reinsurance News for Tuesday 14th February 2017: Reinsurance price declines to continue into 2018, benefiting insurers Prices in the global reinsurance sector are expected to continue declining into 2018, suggesting primary insurers stand to benefit from cheaper risk capital. Watford Re’s total return from investments, ... Read the full article