Here’s your daily Reinsurance News for Thursday 25th August 2016:
Capital inflows to hurt post-event profit of London re/insurers: A.M. Best
The highly competitive insurance and reinsurance marketplace suggests that London market players’ post-event profit surge is under threat, according to A.M. Best.
U.S. cyber insurance premiums reached $1 billion in 2015: Fitch
International financial services ratings agency Fitch Ratings, has revealed that 120 U.S. insurers reported writing cyber coverage in 2015 totalling roughly $1 billion.
Fungibility of capital permanently changes reinsurance cycle: Markel CATCo
Markel CATCo has said that the fungibility of capital is starting to result in notable changes to the re/insurance market cycle, as the abundance of capital continues to challenge the industry.
Liberty Specialty Markets to acquire Wholesale Binding Authorities
Liberty Specialty Markets is reportedly set to acquire Lloyd’s of London coverholder Wholesale Binding Authorities, the transaction is expected to close by the end of September 2016.
Till Capital reports on annual general meeting
Bermuda domiciled Till Capital has announced the results of its annual general meeting, which notes that all of the proposed candidates were elected as directors for the ensuing year.
Insured loss from severe summer storm in Canada nears $65 million: IBC
The Insurance Bureau of Canada (IBC) has revealed that a severe summer storm that impacted parts of Southern Alberta and Saskatchewan in July, has resulted in insured damages of almost $65 million.
Aon notes inadequate supporting rods and low quake penetration in Italian region hit by quake
The catastrophe risk modelling unit of Aon Benfield, Impact Forecasting, has said that buildings in the area of Italy that was recently struck by an earthquake, have “inadequate supporting iron rods,” and that quake insurance penetration is low in the region.
Recent terror attacks in Europe has changed how London players view the risk & premium: PwC
According to a report from PwC that examines pricing conditions in the London re/insurance market, recent terror events across Europe have changed the way firms look at terror risks and premiums.
MAS opens FinTech Innovation Lab, Looking Glass @ MAS1
The Monetary Authority of Singapore (MAS) has now opened its FinTech Innovation Lab, known as Looking Glass @ MAS1. The Lab aims to support the development of FinTech solutions in the region.
Marsh & Singapore Economic Development Bank launch APRC in Singapore
Marsh & McLennan Companies has announced the launch of the Asia Pacific Risk Center (APRC) in Singapore, supported by the Singapore Economic Development Board.
StoneRiver collaborates with Microsoft to enhance offering
Insurance and reinsurance software solutions provider, StoneRiver, has announced a collaboration with Microsoft in an effort to deliver comprehensive value and improved agility for its clients.
DFSA signs MoU with Abu Dhabi Global Market regulatory authority
According to reports from the region, the Dubai Financial Services Authority (DFSA) has entered into a Memorandum of Understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).
China’s Anbang to list Hong Kong life insurance business on stock market
China domiciled Anbang Insurance is looking to list its life insurance business in Hong Kong on the stock market, and has invited investment banks to pitch for mandates, according to reports.
Want to receive this news by email every morning? Just fill out the form below.
