Here’s your daily Reinsurance News for Monday 19th September 2016:
Willis Towers Watson has released a report that shows that companies that make use of reinsurance and ILS to improve their capital management, can be seen to outperform the market.
The Insurance Regulatory and Development Authority of India (IRDA) is expected to give final approval to six reinsurers to begin operating in the region, enabling them to start business from January 2017.
AIG has sold its interest in Ascot Underwriting Holdings Ltd. and subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB).
Reinsurance giant Swiss Re has announced the appointment of Tavaziva Madzinga as Managing Director and Market Executive, Reinsurance, for Middle East and Africa (MEA).
Jean-Louis Monnier, Co-Head of ILS at Swiss Re Capital Markets and global head of ILS structuring, has said that the influence of alternative reinsurance capital on the highs and lows of the underwriting cycle have been over exaggerated.
Re/insurance broker JLT has announced the appointment of Tony Barber as chairman of specialty in Australia, effective March 2017. Barber will report to Leo Demer, CEO of JLT Australia and New Zealand.
The Bermuda Business Development Agency (BDA) has highlighted that the use of distributed ledger technology such as the blockchain, could improve the efficiency of risk capital in re/insurance markets.
Beazley has announced the appointment of Christophe Paulin as an aviation underwriter in France, responsible for managing its aviation business.
Ratings agency A.M. Best expects the influence of ILS funds and managers in the global reinsurance market to increase, with more collateralised reinsurance placements for non-peak risks to be ceded to the capital markets.
According to reports from the region the Loyd’s of London specialist insurance and reinsurance marketplace is looking to establish an onshore Tier 1 reinsurance licence in Malaysia.
Global ratings agency A.M. Best has released a new report that examines the pressures on the MENA reinsurance marketplace, highlighting mixed results from regional players.
XL’s Mike McGavick has advised that reinsurers must ‘reinvent’ solutions in order to remain relevant in the evolving economy, amidst concerns some products have now become less relevant.
Sompo Canopius has announced the appointment of Karen Vizard as International Medical Expenses Underwriter. Vizard joins the firm from Arch, and will report to Bernie de Haldevang, Global Head of Specialty.
Underwriting agency CFC has announced the appointment of Margaret Murphy as Claims Director, based in London.
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