Menu

Reinsurance News

Reinsurance News – Thursday 8th December 2016

8th December 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Thursday 8th December 2016:

Cost-of-capital to be a struggle in reinsurance: S&P

Global ratings agency Standard & Poor’s has warned that reinsurers are going to find it increasingly difficult to meet cost-of-capital requirements in the softening landscape.

Aon looks to sell $5 billion benefits outsourcing unit

Insurance and reinsurance broker Aon is reportedly exploring the sale of its benefits outsourcing unit for $5 billion, and is working with Morgan Stanley on the potential sale.

Gallagher Re

Guy Carpenter & Munich Re help CGIF to first reinsurance treaty

Munich Re and Guy Carpenter have helped the Credit Guarantee and Investment Facility (CGIF) finalise its first reinsurance treaty, which runs until the end of 2017.

Huge economic benefit to fully privatising risk: Richardson, TransRe

TransRe’s Gregory Richardson, in a discussion at the 2016 Artemis Monte Carlo Roundtable, underlined the huge benefits with fully privatising risk, suggesting that the opportunity is larger than seen with cyber and terror.

Aon catastrophe report highlights costs of November earthquakes

Impact Forecasting, the catastrophe modelling unit of Aon Benfield, has released its November catastrophe report, which shows that earthquakes in New Zealand and Italy caused economic losses in the billions of dollars.

Asia could hold opportunity for re/insurers: Kurt Karl, Swiss Re

Kurt Karl, reinsurer Swiss Re’s Chief Economist, has said that re/insurers operating in the Asian marketplace may find opportunities to increase penetration.

Need for efficiency in risk transfer to drive disruption: Potter, GC Securities

The increased need for efficiency in the risk transfer industry along with the rise of technology will drive innovation and further market disruption, according to GC Securities’ Des Potter.

Proposed NFIP reform an opportunity for reinsurers

A proposed reform of the U.S. National Flood Insurance Programme (NFIP) has been announced, which could present greater opportunity for Bermudian reinsurers to shoulder more of the risk.

China’s first ppp reinsurer officially launches

China’s first ever reinsurance company launched under a public/private partnership, Qianhai Reinsurance Co Ltd, officially began its operations on Wednesday 7th December 2016.

Plans for establishment of national reinsurer in Egypt revived

Plans to establish a new national reinsurance company in Egypt have been revived by insurer Misr Insurance Holding, which has officially taken over the lead in a bid to establish a reinsurer.

Operational Re cat bond helps Credit Suisse RWA capital position

The recent Operational Re catastrophe bond issuance from investment bank Credit Suisse, helped the entity reduce its risk weighted assets (RWA’s) by 1.25 billion Swiss Francs.

Fmg Insurance expects loss of at least $29 million from NZ quake

New Zealand domiciled insurer Fmg Insurance Ltd. has said that it expects to receive claims of at least USD$29 million from the most recent earthquake that hit the country.

Wildfires and quakes drive November catastrophe losses

Reinsurance broker Aon Benfield’s catastrophe risk modelling unit, Impact Forecasting, has revealed that wildfires in Tennessee and Israel, and the quake in New Zealand were among the costliest catastrophe events in November.

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.

Thomas Miller Specialty & HDI partner on offshore marine & energy insurance

Thomas Miller Specialty has partnered with insurer HDI to launch a set of offshore marine and energy products by 2017. The deal sees Thomas Miller enter into a global insurance partnership with HDI.

KPMG adds three actuarial partners in Hong Kong

KPMG has added several actuarial partners based in Hong Kong, including Paul Melody and Marco Warmelink from Willis Towers Watson, and Michael van Vuuren from EY in London.

Fist meeting of Sustainable Insurance Forum takes place in the U.S.

The first meeting of the Sustainable Insurance Forum took place in the U.S. recently, aimed at promoting cooperation on critical sustainable insurance challenges.

Increasingly volatile market drives negative rating outlook for U.S. life/annuity sector: A.M. Best

International ratings agency A.M. Best has said that ongoing and increased market volatility is driving negative rating outlook for the U.S. life/annuity industry.

Debts and uncollected premiums a challenge for Iran Insurance Company

According to reports from the region, Iran’s state-owned insurer, Iran Insurance Company (IIC), is struggling to cope in a seemingly shrinking market share and increased debts.

Want to receive this news by email every morning? Just fill out the form below.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Guy Carpenter & Munich Re help CGIF to first reinsurance treaty

Reinsurance giant Munich Re and broker Guy Carpenter have helped the Credit Guarantee and Investment Facility (CGIF) complete its first reinsurance treaty,...

Close