Here’s your daily Reinsurance News for Friday 9th September 2016:
Italy quake insured losses not expected to exceed EUR200m: S&P
Global financial services rating agency S&P has announced that gross insurance industry losses from the recent earthquake that impacted part of Italy, are not expected to exceed €200 million.
PartnerRe hires Beedle from Willis Re to head Asia-Pac
Reinsurer PartnerRe has announced the appointment of James Beedle as Head of Asia Pacific & CEO of Partner Reinsurance Asia Pte. Ltd. Beedle joins from reinsurance broker Willis Re.
Belgian insurer Ethias to utilise reinsurance to boost capital levels: CEO
The CEO of Belgian insurer Ethias SA, Benoit Verwilghen, has said that the firm will reinsure (€1.4 billion) $1.6 billion of policies in order to boost capital levels in response to the implementation of Solvency II.
Louisiana flooding economic losses of up to $15 billion: Aon Benfield
Reinsurance broker Aon Benfield has said that the recent flooding that hit parts of Louisiana and elsewhere on the Gulf Coast will likely cause economic losses of up to $15 billion, while insured losses are expected to be in the low single-digit billions.
CCR announces establishment of CCR Re
French public group CCR has announced the creation of CCR Re, which aims to be operational by the 31st December, 2016. The CCR Re will be integrated and will continue to benefit the Central Reinsurance Fund (JRC), said the company.
Disputes more likely in traditional reinsurance than cat bonds: S&P
Ratings agency S&P recently said that there’s more chance of claims being disputed with traditional reinsurance companies as opposed to a catastrophe bond transaction.
Lloyd’s announces relocation of Kim Swan to Singapore ahead of new role
The Lloyd’s of London specialist insurance and reinsurance marketplace has announced the relocation of Kim Swan from London to Singapore, where she will start her new role as regional regulatory and compliance manager for Asia-Pacific.
Flood & Protection Gap Executive Roundtable 2016
Flood is a rapidly evolving and increasingly costly peril, yet in comparison to perils such as earthquake and windstorm, flood remains significantly underinsured. Executives came together with Artemis to discuss issues surrounding flood insurance and the resulting protection gap.
PartnerRe first re/insurer to make issuance in euro-denominated bond market
Bermudian reinsurer PartnerRe has become the first insurer and reinsurer to make an issuance in the euro-denominated bond market, according to reports.
Hedge fund reinsurers struggling to keep pace with traditional players: A.M. Best
Ratings agency A.M. Best has highlighted how hedge fund reinsurers are struggling to keep pace with the traditional players, as market headwinds persist on both sides of the balance sheet.
Greenlight Re Ireland enters into agreement with Kattan Associates
Greenlight Capital Re subsidiary, Greenlight Re Ireland, has entered into an agreement with Kattan Associates Limited. Under the agreement Kattan will work on business opportunities in the European and Asian markets, on behalf of Greenlight Re.
Blockchain catastrophe swap platform ready, shows insurtech potential
According to the developer of the catastrophe swap software platform based on the blockchain, the technology is ready to be used.
Munich Re and Trov partner to bring on demand insurance to the U.S.
Reinsurer Munich Re is set to partner with Trov, a technology company, in order to bring on demand insurance to the U.S. via Trov’s application.
Cyence launches industry’s first economic cyber risk modeling platform
Cyence has announced the launch of the stealth, and the development of the insurance industry’s first economic cyber risk modeling platform.
Munich Re installs technology to support big data initiative
Reinsurance giant Munich Re is reportedly using SAS and Hortonworks tech for its big data venture. The reinsurer has installed the new platform, and hopes that it will enable them to explore new ideas.
Beazley grows construction industry offerings
Beazley has expanded its product range for the construction industry, launching five new products that supports the firm’s growth in the US builders’ risk and inland marine divisions.
Hermine no trouble to re/insurance & cat bonds: Fitch
According to global ratings agency Fitch, recent hurricane Hermine is not expected to create any problems for the insurance, reinsurance, and insurance-linked securities (ILS) market.
Registration opens for Dive In Festival in Bermuda
Registration has opened for The Dive In Festival, a three day event that aims to promote greater diversity and inclusiveness in the insurance and reinsurance sector.
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