Reinsurance News

Reinsurance News – Monday 14th November 2016

14th November 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Monday 14th November 2016:

New Zealand struck by magnitude 7.8 earthquake, damage reported

Late Sunday evening, local New Zealand time, a magnitude 7.8 earthquake struck around 95km from Christchurch, causing a tsunami warning and was followed by a number of major aftershocks.

Reinsurance industry will be unaffected by Trump: Hannover Re

Reinsurance giant Hannover Re recently said that it expects the reinsurance market to be unaffected by the recent election of Trump as President of the U.S.

Tremor - The modern way to place reinsurance

Reinsurance drives growth for XL as pricing bottoms out – McGavick

Executives at XL Group underlined that growth in the third-quarter was driven by its reinsurance business, where the company was able to take advantage of pockets of opportunities to offset market headwinds.

New Zealand government prepared for billion dollar bill from recent quakes

Officials and economists in New Zealand have said that the government should have no problem fronting the bill for damages caused by the recent earthquakes, which is expected to be in the billions of dollars.

Marsh to acquire Bluefin from AXA for $368.81 million

U.S. insurer Marsh has revealed plans to acquire AXA’s insurance brokerage unit Bluefin for a reported $368.81 million. The firm said that the sale of Bluefin would negatively impact its profit and loss account by €66 million.

Capacity refill would take time after major loss event: Ed Noonan

Validus Holdings CEO, Ed Noonan, has advised that it could take time for the reinsurance sector to recapitalise after the next loss event.

African reinsurance market hits $64 billion

According to reports from the region the African reinsurance marketplace has reached $64 billion, highlighting the strong growth potential in the region.

Opportunity for reinsurance & ILS to mitigate casualty market headwinds

It’s been reported that the abundance of reinsurance capital from both traditional and alternative sources, could be utilised to help casualty insurers manage a growing number of industry headwinds.

Zurich names Tulsi Naidu CEO of UK business

Zurich has announced the appointment of Tulsi Naidu as CEO of its UK business, reporting to Gary Shaughnessy, CEO for Europe, Middle East & Africa (EMEA).

U.S. commercial P&C rate declines accelerate in October

U.S. commercial P&C rates fell by an average of 2% during October, accelerating the -1% trend witnessed over the last four months, according to data from MarketScout and KBW.

Algeria’s national reinsurer increases capital to $199 million

Cental Company of Reinsurance, Algeria’s national reinsurance company, has increased its capital by more than 16% to $199 million, to support future growth plans.

Monte Carlo Rendezvous Executive Roundtable 2016

Participants discussed areas where ILS could play a greater role and explored potential features of the space that could facilitate increased influence across the risk transfer world, including weather risk, cyber, and terror.

Allianz launches new Digital Arena innovation platform

Allianz has now launched its new Digital Arena innovation platform, which is aimed to attracts start-ups and entrepreneurs to join the reinsurance entity and help develop and improve the insurance experience for the Asian community.

Everest Insurance expands environmental offering with new ESP policy form

Everest Insurance has announced the expansion of its environmental offering with a new ESP policy form, according to an announcement from the firm.

Continental Re adds non-exec directors to board

Continental Reinsurance Plc has announced that both Chief Ajibola Olusanya Ogunshola and Mr. Emmanuel Brule have been named as non-executive directors of the reinsurer, effective November 8th.

Chubb announces several executive appointments within Singapore units

Chubb has announced the appointment of several new executives to head its departments in Singapore, including Koh Wei Lee as Head of A&H and PBI.

Want to receive this news by email every morning? Just fill out the form below.

Print Friendly, PDF & Email

Recent Reinsurance News