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Reinsurance News – Monday 19th December 2016

19th December 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Monday 19th December 2016:

Fairfax Financial buying Allied World for $4.9bn

Canadian P&C insurer and reinsurer Fairfax Financial Holdings is to acquire Allied World Assurance Company Holdings for $4.9 billion in cash, after the two entered into a merger agreement.

Global reinsurers to be operational in India in six to nine months: IRDAI

The Insurance Regulatory and Development Authority of India (IRDAI) is hoping that global reinsurance companies that are awaiting final approval will be operational in the region in six to nine months.

RMS

Deutsche Bank says pricing will deteriorate further in reinsurance

Analysts at Deutsche Bank have warned that reinsurers can expect pricing to deteriorate further in 2017, citing low investment returns, the benign loss experience and the abundance of capital.

Enstar changes management structure in wake of KaylaRe launch

Following Enstar’s launch of KaylaRe Ltd., the company has announced some executive changes, including Enstar co-founder Nick Packer being named CEO of the new venture.

Indian insurers consider hiking property rates in light of increased nat cats

Reports from India claim that the persistent occurrence of natural disasters in the region is leading some insurers to look at increasing property rates that are located in vulnerable areas.

Re/insurance & ILS can help close climate risk protection gap

ClimateWise has underlined the need for the global insurance industry to do more to close the $100 billion annual climate risk protection gap.

Belarus Re records premium growth to $28 million in 2016

The Belarusian National Reinsurance Organization (Belarus Re) recorded premiums of $28 million during the first nine months of 2016, an increase on the same period last year.

Disruption is going to happen in re/insurance: Industry leaders

Speaking at a recent industry event held in Bermuda, re/insurance leaders and executives explained how disruption is going to happen, and those that fail to adapt and innovate could get left behind.

Residential flood insurance must be made affordable: IBAC

The Insurance Brokers Association of Canada (IBAC) has said that residential flood insurance must be made affordable and that the government should provide a backstop.

Africa Re to expand agriculture insurance

According to reports from the region Africa Reinsurance Corporation (Africa Re) is planning to expand agriculture insurance with the help of the federal government.

Warmer weather saw EU energy players hedge more weather risk in 2016: Report

Energy market analysts have said that warmer temperatures led European energy companies to hedge a substantial proportion of weather risk in 2016, according to a recent report.

Aspen Insurance names Richard Thornton Group COO

The insurance unit of insurer and reinsurer Aspen, Aspen Insurance Holdings, has announced the appointment of Richard Thornton to the newly created role, Group Chief Operating Officer (COO).

ILS NYC 2017 conference – Feb 3rd, New York

A thoughtfully curated annual insurance-linked securities event in New York City from Artemis. Featuring ILS & reinsurance industry leaders speaking on forward-thinking, engaging topics.

Generali not planning to sell French business to Allianz

According to people close to the matter, Generali has no plans to sell its French business to Allianz, following reports that discussions were underway.

Industry leaders explore potential impact of U.S. tax cuts on Bermuda

During a recent re/insurance industry conference in Bermuda, industry leaders and executives discussed the potential for possible cuts in the corporate tax rate in the U.S. to impact the island.

U.S. private cyber insurance market could manage most risks: Report

According to a new study from think tank R Street Institute, the U.S. private cyber insurance market is capable of managing the majority of risks.

Bermuda’s Global Indemnity Re donates $100,000 to local charities

Reinsurer Global Indemnity Re has donated $100,000 to ten local charities and not-for-profit entities, according to reports from Bermuda.

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Enstar changes management structure in wake of KaylaRe launch

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