Here’s your daily Reinsurance News for Friday 19th August 2016:
Catastrophes drive higher insured and economic losses in H1: Swiss Re
Global insured losses from natural catastrophes in the first-half of 2016 totalled $31 billion according to reinsurer Swiss Re, an increase of 51% compared with the same period last year.
Latin America reinsurance sector to remain soft: Fitch
International ratings agency Fitch Ratings has said that the soft market conditions in the Latin America reinsurance industry will persist, in line with global reinsurance market trends.
PCS launches Turkey historical catastrophe database
Property Claim Services (PCS) has announced the launch of a historical database of industry wide catastrophe loss estimates for Turkey.
Aspen U.S. Insurance opens Dallas office
Insurance division of Aspen Insurance Holdings Limited, Aspen U.S. Insurance, has opened an office in Dallas, Texas, according to industry reports.
Innovation needed to facilitate all types of capital within Lloyd’s
The Lloyd’s of London insurance and reinsurance marketplace has recognised a need to modernise in order to remain relevant in the evolving landscape, including how it utilises alternative reinsurance capital.
Political unrest could impact Bermuda’s biggest industry: ABIR
Bradley Kading, executive director of the Association of Bermuda Insurers and Reinsurers recently warned that political unrest could have a negative impact on the Bermuda industry.
Commercial P&C rates down 3.9% in Q2, buyers market remains: CIAB
Commercial P&C rates declined by an average of 3.9% in the second-quarter of 2016, as the buyers market conditions persist, says the Council of Insurance Agents & Brokers (CIAB).
Scottish Re reports second-quarter 2016 results
Scottish Re Group has reported its second-quarter 2016 results, revealing that its total comprehensive income improved in the period, compared with a loss of $43,434 in the previous year.
Ramesh Sivanathan named country manager in Malaysia, Allied World
Ramesh Sivanathan has been made VP for Allied World’s Asia-Pacific unit, and will also serve as the country manager in Malaysia, the company recently announced.
Allianz and AXA among firms bidding for insurance product distribution rights
According to reports, bidding has started for the right to distribute insurance products through Standard Chartered branches, with Allianz and AXA among those interested.
A.M. Best releases new ILS rating methodology, following comments
Ratings agency A.M. Best has released Best’s Insurance-Linked Securities & Structures Methodology (BILSM), following the termination of the public comment period.
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