Here’s your daily Reinsurance News for Monday 17th October 2016:
Hanjin re/insurance loss could be half a Tianjin ($2bn): Credit Suisse
According to analysts at Credit Suisse, the insurance and reinsurance industry could face a loss of up to $2 billion as a result of the financial collapse and bankruptcy of Hanjin Shipping.
Lloyd’s names Daniel Revilla Head of Latin America
Specialist Lloyd’s of London insurance and reinsurance marketplace has announced the appointment of Daniel Revilla as Head of Latin America, and will also assume the role as country manager for Mexico.
Cat losses, lower reserve releases drive P&C unprofitability: ISO, PCI
Increased cat losses in the first six months of 2016 combined with less favourable reserve development saw a rise in combined ratios for P&C insurers, according to analysis from ISO and PCI.
JLT Re names John Speckman SVP, Stamford, Connecticut
JLT Re has announced the appointment of John Speckman as a Senior Vice President (SVP), based in Stamford, Connecticut, where he will form part of the firm’s Workers’ Comp and Programs practice groups.
Price trajectory converging between reinsurance & insurance: Credit Suisse
Price expectations across the insurance and reinsurance industry are starting to converge, warn analysts from Credit Suisse. Suggesting that the trend of price increases in primary lines at times of declining reinsurance pricing could be changing.
Reinsurers to cover majority of losses from hurricane Nicole: A.M. Best
International ratings agency A.M. Best has said that it expects the reinsurance industry to foot most of the bill from damage on Bermuda caused by the recent hurricane Nicole.
Capital to move down the value chain in search of purest risk: James Slaughter
James Slaughter, SVP, Director of Global Reinsurance Strategy at Liberty Mutual, has said that he expects capital to move further down the value chain in an effort to get closer to the original source of risk.
Chubb names Oliver Hills Head of Reinsurance, Latin America
Chubb has announced the appointment of Oliver Hills as its new regional head for reinsurance business in Latin America, according to recent reports.
Catalina Holdings open to further acquisitions after AGF Insurance deal
Following its recent acquisition of AGF Insurance Ltd, Catalina Holdings is open to further takeovers and sees a number of opportunities in the marketplace.
Q3 2016 Cat Bond Report – Weather risk returns, private deals, market growth
Artemis has released its third-quarter 2016 catastrophe bond and ILS market report, that reveals over $1 billion of issuance from eight transactions during the quarter.
Business leaders praise Bermuda’s resilience in wake of hurricane Nicole
Following the impact of hurricane Nicole, which made a direct hit on Bermuda last week, business leaders across the island have praised Bermuda’s resilience in the face of such events.
China’s P&C sector to record modest premium growth over next 18 months: Moody’s
The property and casualty (P&C) insurance industry in China is expected to experience modest premium growth over the next 12-18 months, says ratings agency Moody’s.
Host of African re/insurers able to meet obligations: A.M. Best
A range of African insurers and reinsurers, including African Reinsurance Plc and Continental Reinsurance Plc, are able to meet their ongoing obligations, advises A.M. Best.
AXA looks to emerging Asia for business growth
In an effort to offset the impacts of low interest rates and reduced returns in more established re/insurance markets, AXA is looking to boost its business in emerging parts of Asia, according to reports.
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