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Reinsurance News – Friday 7th April 2017

7th April 2017 - Author: Luke Gallin

Here’s your daily Reinsurance News for Friday 7th April 2017:

Favourable terms seen at April reinsurance renewal: Aon

Buyers of reinsurance protection witnessed favourable terms at the 1st April 2017 renewals with record levels of capacity maintaining pressure on pricing, according to Aon Benfield.

U.S. severe weather losses $2bn+ in March

Re/insurance industry losses from severe weather and convective storms in the U.S. in March is expected to exceed $2 billion, says Aon. Global catastrophe losses during the first-quarter totalled a reported $7.6 billion.

Swiss Re Corporate Solutions Brazil appoints Calheiros as CEO

Reinsurer Swiss Re’s Corporate Solutions division has announced the appointment of Luciano Calheiros as CEO of its new Brazilian joint-venture operations.

RMS releases cyber-physical risk model for property exposures

Catastrophe risk modeller RMS has introduced a new range of ‘cyber-physical’ models to help property re/insurers manage and understand the growing risk of cyber attacks.

Reinsurers acting as insurers benefit from dual market insight

Reinsurance companies that increasingly act as insurers are benefitting from closer access to risk, receiving higher returns via disintermediation.

Munich Re’s HSB Engineering Insurance appoints biz dev & distribution director

Munich Re’s specialist industrial engineering and construction insurance unit, HSB Engineering Insurance (HSB), has appointed Richard Slatter as a new business development and distribution director.

Alternative capital hits $81bn, sustains growth rate: Aon

Reinsurance broker Aon Benfield has said that the volume of alternative reinsurance capital in the global reinsurance industry has reached a new high of $81 billion.

One Re appoints Willis veteran to Board Chairman

African reinsurance company One Re has appointed Nicholas Davenport as Chairman of the Board, effective immediately.

Lloyd’s adds new Council and Franchise Board appointments

The Lloyd’s of London insurance and reinsurance marketplace has named Gregory Fleming as a nominated member of the Council of Lloyd’s, and Patricia Jackson as an independent non-executive director of the Franchise Board.

New mortality data could mean “significant year” for longevity hedging: Aon

New mortality data continues to filter into global longevity insurance and reinsurance markets, which could mean a significant year for longevity hedging, according to Aon Hewitt.

Insurer Croatia Osiguranje completes Croatia Lloyd takeover

Croatian insurer Osiguranje recently announced the completion of its takeover of local reinsurance entity Croatia Lloyd.

Munich Re appoints head of health business for APAC, Africa and Middle East

Reinsurance giant Munich Re has appointed Frank Mayer to lead the firm’s Health business across the Asia Pacific, Africa and Middle East.

NZ insurers receive hundreds of flood claims following cyclone Debbie

Insurers in New Zealand have received hundreds of flood claims following the impact of cyclone Debbie, although the Insurance Council of New Zealand said it will be some weeks before insured losses are realised.

QBE NA names Friesenhahn Head of Multinational, NA

QBE North America has announced the appointment of Richard Friesenhahn as Head of Multinational for North America, based in the firm’s New York office.

Terror activity in Asia expected to increase in 2017: Aon

The recent release of Aon’s risk maps for 2017 reveals that terrorist activity in Asia is expected to increase this year, following the rise of the Islamic State in the region.

Health reinsurance bill criticised by governor and agriculture sector

The recently passed health reinsurance bill in Minnesota has received some criticism from Gov. Mark Dayton and the agricultural sector.

Sava Re to increase dividend for 2016 by 23%

Slovenian reinsurance company Sava Re has revealed plans to pay a dividend of $0.85 per share in 2016, up by 23% on last year.

Risk Strategies appoints John Mina President

Risk Strategies Company has announced the appointment of John Mina as President, as the firm looks to expand.

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