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Reinsurance News – Thursday 19th January 2017

19th January 2017 - Author: Luke Gallin

Here’s your daily Reinsurance News for Thursday 19th January 2017:

Lloyd’s cedents make the most of soft reinsurance market: RBC Capital Markets

Analysts at RBC Capital Markets noted increased demand for reinsurance protection at the 1/1 2017 renewal season, as cedents in the Lloyd’s market were able to take advantage of favourable market conditions.

Alternative capital remains a key reinsurance pressure: UBS

UBS has said that alternative reinsurance capital remains a key pressure for the global reinsurance industry, despite a recent slowdown in cyclical pressures.

Lloyd’s to announce location of new EU subsidiary in Q1: John Nelson

The Lloyd’s of London specialist insurance and reinsurance marketplace is to announce the location of its new EU subsidiary sometime in the first-quarter, according to its Chairman, John Nelson.

“Milestone” agreement reached for EU and Bermudian re/insurers

The European Insurance and Occupational Pensions Authority (EIOPA) and the Bermuda Monetary Authority (BMA) have signed a Memorandum of Understanding (MoU) to improve cooperation and cross-market collaboration for the re/insurance industry.

Compre in second run-off acquisition of 2017 with Swiss Re

Insurance and reinsurance legacy specialist, Compre, has completed its second acquisition of the year, providing a legacy solution to reinsurer Swiss Re.

Reinsurers tighten Gulf property terms in wake of skyscraper fires: A.M. Best

Ratings agency A.M. Best has noted the tightening of terms and conditions by reinsurers in the Gulf and Middle East region after a number of fires in high-rise buildings.

Allied World “go-shop” period expires with no offers

The “go shop” period for insurer and reinsurer Allied World Assurance Company Holdings, AG, under the terms of its planned merger with Fairfax, has expired with no offers.

Vista Reinsurance Promotes Ashley Mims to Senior Vice President

Reinsurance brokerage Vista Reinsurance Intermediaries has announced the promotion of Ashley Mims to Senior Vice President.

Willis Towers Watson names Mike Liss head of CRB, North America

Willis Towers Watson has announced the appointment of Mike Liss as head of its Corporate Risk and Broking (CRB) operations in North America, effective immediately.

Aon partners with TNO on loss estimation platform for oil, gas & petrochemical clients

Aon Global Risk Consulting is reportedly partnering with TNO, a Dutch research company, to develop a loss estimating tool for the oil, gas and petrochemical industry.

ILS terrorism bonds a “logical next step” for Pool Re: Enoizi

Julian Enoizi, the CEO of Pool Re, said during an industry event in December 2016 that the terrorism space should embrace the ILS sector, and sees terror bonds as a “logical next step.”

Willis Towers Watson bolsters South Florida division with hires

Willis Towers Watson has announced the appointment of Fred Zutel has head of Corporate Risk and Broking (CRB) in South Florida. The firm also revealed four other hires within its South Florida operations.

Aon completes acquisition of Brazilian broker, Admix

Insurance and reinsurance brokerage Aon has completed its acquisition of Brazilian broker Admix, according to local reports.

First re/insurer listing in India could happen in six to eight months

Following the approval of the listing of four public sector insurers and reinsurer GIC Re in India, the listing process will start in the coming weeks and the first listing is expected to happen within six to eight months.

XL Catlin announces promotions within Global Risk Management Group

Insurer and reinsurer XL Catlin’s Global Risk Management Group has announced a number of promotions, including Mark McConico as SVP.

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.

Terrorism Risk Insurance Act challenges could hinder market development

A recent study into the Terrorism Risk Insurance Act by the U.S. Government Accountability Office claims that current challenges with the Act could increase prices for cover and reduce terror insurance take-up rates.

AGCS names Haagen Northeast Zone Exec for North America

Allianz Global Corporate & Specialty (AGCS) has announced the appointment of Henning Haagen as Northeast Zone Executive for North America, effective immediately.

New Zealand’s CBL Corp. looks to directly write business in Europe

According to reports New Zealand insurer CBL Corp. Ltd. is looking to write business in Europe directly, amidst concerns over the restructuring of British insurers post-Brexit.

Zurich to cut spending on large tech projects

According to industry reports Zurich Insurance is planning to cut spending on large technology projects in an effort to reduce costs.

Media and insurers brainstorm in India to improve insurance sector

During the 10th India Rendezvous members of the media and CEOs of leading insurers debated how to improve the awareness and trust in insurance to boost penetration.

M&A expected in Malaysia’s takaful market

According to international financial services rating agency Fitch Ratings, growth potential in the Takaful marketplace in Malaysia along with regulatory pressures will drive sector M&A.

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