Here’s your daily Reinsurance News for Thursday 6th April 2017:
Insurance Australia Group (IAG) expects to fully use up its FY17-specific reinsurance cover of $96 million after Cyclone Debbie raised the insurer’s FY17 net natural peril claim cost estimations to $850 million.
The Lloyd’s of London insurance and reinsurance marketplace has officially opened its India branch office, and welcomed MS Amlin as the first syndicate to join the branch.
Commercial insurance rates have shown signs of rising for the first time in twenty months, according to analysis from MarketScout.
Analysts predict a “structural revolution” for the Lloyd’s of London insurance and reinsurance market as more and more alternative capital is utilised in the marketplace.
Property Claims Services has for the first time moved away from the property-catastrophe sector with its Global Marine and Energy loss aggregation solution services.
Analysts at Berenberg have highlighted the opportunity for players in the life reinsurance market to support the demands of life insurers with technology.
Extra-tropical cyclone Thomas is estimated to have caused an industry loss impact to re/insurers of around EUR 213 million, according to PERILS AG.
Insurance and reinsurance broker Willis Towers Watson has appointed Thorsten Querfurt as its new Global Industry Leader for Natural Resources.
Liberty Specialty Markets has announced the appointment of Alexandra Paton as Head of Continental Europe for Global Financial Risks (GFR).
A stress test conducted by risk modeller RMS found leading banks around the world would see credit rating downgrades when tested against exposure to normal drought scenarios.
Apollo Global Management LLC is looking for $2.1 billion to assist Athene Holding Ltd.’s expansion through Europe via acquisitions.
India’s general insurance industry saw an increased volume of policies renewed on April 1st 2017, following a 10% to 30% hike in premiums for certain categories.
The CEO of MNsure, Allison O’Toole, recently highlighted the benefits of reinsurance following the just-passed health reinsurance law in Minnesota.
Insurtech start-up Ledger Investing is in the process of completing a $5 million round of seed funding to build out its insurance risk securitization platform.
Insurers in Alaska are hopeful that President Donald Trump’s administration will approve an application for federally-backed health “reinsurance” program for individual policies.
Fosun has reportedly lodged a bid to acquire a majority stake in the insurance unit of Greek lender National Bank of Greece (NBG).
Reinsurance firm Everest Re’s latest Kilimanjaro catastrophe bond issuance could reach up to $1.25 billion, after the firm more than doubled its target for the deal.
The insurance industry in Iran grew by a reported 22% for the fiscal year ending 20th March 2017, with insurance penetration increasing to 2.1%.
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