Here’s your daily Reinsurance News for Friday 12th August 2016:
NOAA forecasts more hurricanes in 2016 season, raises prediction
The U.S. NOAA has increased its forecast for the 2016 Atlantic Tropical Storm and Hurricane Season, suggesting that the possible onset of La Niña and other trends suggest it could be the most active season since 2012.
Talanx Group reports competitive non-life reinsurance sector in Q2
Talanx Group has reported its H1 2016 financial results, posting an operating profit of €1.1 billion, compared with the same period last year. The firm reported continued competition in non-life reinsurance, where its GWP declined to €4.6 billion.
On spending your way out of a soft re/insurance market
The first-half 2016 results of many insurers and reinsurers has now been announced, revealing that one way firms have responded to the soft market is by trying to spend their way out of it.
Quota share reinsurance arrangement helps Kingstone’s Q2 net income rise
Kingstone Companies has announced its second-quarter 2016 results, posting a net income of $2.84 million, up by 19.5% on the same period last year. The firm attributed the growth to a rise in net earned premiums as a result of growth and changes in quota share reinsurance.
L&G sees £16bn+ longevity swap pipeline
Life and longevity insurance and reinsurance firm Legal & General has said that it is actively quoting on over £16 billion of new longevity swap transactions in the UK alone.
Jack Howell named CEO of Zurich Asia-Pacific
Jack Howell has been announced as the new CEO of Zurich in Asia Pacific, effective September 1st 2016, reporting to group CEO Mr Mario Greco. Howell will be based in the firm’s Hong Kong office.
CATCo Reinsurance Opp Fund returns 4.9% in H1 2016
The CATCo Reinsurance Opportunities Fund has reported a return on net asset value in the first-half of 2016 of 4.9%, which it described as a “solid performance.”
Dr Roman Hohl leaves Asian Risk Centre
According to reports Dr Roman Hohl has left the Asian Risk Centre, a provider of risk models for the agricultural insurance and reinsurance industry.
IRDAI proposes mandatory insurer listing
The Insurance Regulatory and Development Authority of India (IRDAI) has called for certain insurers to be mandatorily listed on exchanges based on the number of years they’ve been in operation.
Next U.S. President faces potential issues with ObamaCare reinsurance program
Reports from the U.S. claim that the next President could face issues and backlash over the ObamaCare reinsurance program, as the new administration will takeover just after the latest enrollment tally is announced.
Selective Insurance Companies reports several officer appointments
Selective Insurance Companies has announced a number of officer appointments, including Todd Hoivik to SVP, Commercial Lines Pricing & Research. Other appointments include Christina Howard, AVP, Regional Safety Operations Manager and Wesley Riley VP, Field Operations Manager.
Alt reinsurance capital market top opportunities & concerns revealed in BDA survey
A survey commissioned by the Bermuda Business Development Authority (BDA) identifies key challenges and opportunities with the wealth of alternative reinsurance capital in the sector.
Reduced reliance on quota share reinsurance helps Conifer grow net written premiums in Q2
Conifer Holdings has reported its second-quarter 2016 results, reporting that its net written premiums increased to $26.2 million, as a result of a reduction on the reliance of quota share reinsurance.
Bermuda remains a domicile of choice for captive insurers
According to reports from the region Bermuda is in a strong position to remain the domicile of choice for captive insurers, owing to recent regulatory changes and re/insurance market developments.
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