Here’s your daily Reinsurance News for Monday 13th February 2017:
Reinsurance demand growth seen in North America: Hannover Re
Reinsurance giant Hannover Re has said that North America is expected to be one of its growth areas in the coming year, as the U.S.’s economic recovery increases reinsurance demand.
Neon Bermuda names Pritchard Head of Property Reinsurance
Neon has announced the appointment of Nick Pritchard as Head of Property Reinsurance, initially based in the firm’s Bermuda office.
Aon reports organic reinsurance revenue growth
Insurance and reinsurance brokerage Aon has reported organic growth in its reinsurance operations at Aon Benfield during the fourth-quarter of 2016.
Reinsurance could stabilise risk pools in U.S. health market reform: McKinsey
According to a report from management consulting firm McKinsey, improved reinsurance mechanisms for the U.S. health insurance market have been proposed as a way to rescue the challenged industry.
Suncorp’s aggregate reinsurance buffer shrinks, losses erode deductible
According to insurer Suncorp’s half-year to December 31st, 2016 financial results, a number of catastrophe events in 2016 have eroded over half of the deductible of its aggregate reinsurance coverage.
Aon to sell Benefits Admin & HR BPO platform to Blackstone
Aon is reportedly set to sell the Benefits Administration & HR Business Process Outsourcing (BPO) platform of its Aon Hewitt unit to Blackstone, for up to $4.8 billion.
Armenia & Iran expand re/insurance collaboration
Armenia and Iran recently discussed further cooperation between their respective insurance industries, a move that could significantly strengthen the two countries’ economic ties.
Lloyd’s Market Association appoints six Claims Committee members
The Lloyd’s Market Association (LMA) has added six new members to its LMA Claims Committee (LMACC), the team will advise the LMA Board on strategic claims matters.
Miller hires senior facultative broker from Guy Carpenter
Re/insurance brokerage Miller Insurance Services LLP has announced the appointment of Damian Richards from Guy Carpenter, as senior broker and producer.
Reinsurance underwriting helps BB Seguridade Participações SA offset interest rate declines
Reinsurance underwriting revenue and robust distribution helped BB Seguridade Participações SA offset the impact of declining interest rates in Q4 2016.
2016 insured catastrophe losses total $39.5 billion: Willis Re
Reinsurance broker Willis Re has reported that insured losses from catastrophe events in 2016 hit $39.5 billion, the highest seen in the last four years.
EMC Insurance reports net income growth in Q4 2016
EMC Insurance Group has reported its fourth-quarter 2016 financials, revealing a net income of $21.3 million, compared with $9.9 million a year earlier.
Rochdale mutual reinsurance fund renamed, will invest in Iris Re
According to industry reports, City National Rochdale, LLC’s ILS and reinsurance-linked investment mutual fund is set for launch by the investment advisor.
Tower Chairman blames EQC model for share price dip
Michael Stiassny, the Chairman of insurer Tower, has blamed the “broken” Earthquake Commission (EQC) model for the company’s share price decline.
Indian re/insurer listings to be staggered
According to reports from India the listing of five government-owned re/insurers in the country will most likely be staggered, with GIC Re and New India Assurance expected to be listed first.
ILS investors show preference for catastrophe risks in survey
A recent survey and accompanying report reveals that investors in the ILS space have desires to increase their exposure to natural catastrophe risks, and pull-back on non-catastrophe risks.
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