Here’s your daily Reinsurance News for Friday 17th March 2017:
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.
According to industry reports President Donald Trump’s first proposed budget includes scrapping all funding for the National Flood Insurance Program’s Flood Hazard Mapping Program.
Greenlight Reinsurance Ireland DAC, a subsidiary of Greenlight Capital Re, has announced the appointment of Patrick O’Brien as its new Chief Executive Officer (CEO).
Reinsurer China Re has reported $845 million of written premiums for the first two months of the year, underlining the opportunity for re/insurers in China.
Reinsurance giant Swiss Re’s Board of Directors has proposed the election of three new board members, and also the re-election of a number of other members.
Microsoft is reportedly leveraging the reinsurance market to help it access sources of renewable energy while taking on less risk, making its data centers greener.
Lyndon Trott, Guernsey’s Finance Chairman, has reportedly finalised a Memorandum of Understanding (MoU) with Beijing Airport Economic Core Zone, to grow its captive business in China.
In a recent report reinsurance giant Swiss Re underlined the opportunity for insurers and reinsurers to embrace “Insurance 2.0” and take advantage of the changing economic landscape.
The Insurance Council of Australia (ICA) has revealed a number of new appointments, including Anthony Day, CEO of Suncorp, as President of the Insurance Council and Chairman of the Board.
Nephila Capital’s Lloyd’s of London syndicate 2357 started to pick up risks via the State National program business arrangement in 2016.
Brokerage Lockton has adopted RiskFirst’s new web-based risk analytics platform, PFaroe, in an effort to grow its offer of pension plan risk assessment.
The Minnesota Senate has reportedly approved a $600 million reinsurance programme, designed to help stabilise the state’s individual health insurance market.
According to industry reports the Vice President of the National Reinsurance Corporation Of The Philippines, Jeffrey R. Lacson, has retired.
Weather Risk Management Services (WRMS) has revealed plans to connect 3 million farmers across 150 districts to the Prime Minister’s Crop Insurance Scheme, Pradhan Mantri Fasal Beema Yojana (PMFBY).
1347 Property Insurance Holdings, Inc. has reported its results for the fourth-quarter of 2016, posting a net income of $1.6 million, compared with $0.6 million a year earlier.
Ironshore has boosted its Mergers & Acquisitions capabilities with a number of new hires in the Americas to serve Canada and Latin America.
Securis Investment Partners is the first ILS and reinsurance-linked investment manager to license the RMS Exposure Manager solution.
According to reports from the region, New India Assurance has secured the largest single insurance transaction in India’s history, from Reliance Industries (RIL).
Insurer Allianz’ Australian division has started its search for a new Managing Director, after it was revealed that Niran Peiris will move to Germany to take on a new role.
Global Indemnity Limited has announced the pricing of an offering of $120 million of its 7.875% Subordinated Notes due 2047.
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