Here’s your daily Reinsurance News for Tuesday 23rd August 2016:
Asian regulatory developments could increase reinsurance demand: Fitch
Global ratings agency Fitch Ratings has said that a variety of regulatory initiatives across Asia could result in an increased demand for reinsurance protection as companies look to improve risk management.
High resolution flood data from RMS an opportunity for risk capital
Global catastrophe risk modelling firm RMS has released a new suite of high resolution Europe Inland Flood Hazard Data, which the firm says will create opportunities for re/insurers to write business in new, underserved regions.
Chinese reinsurance market to reach $198 billion by 2020
According to a recent report from Zion Research, the Chinese reinsurance market is poised to expand from the $35 billion reported in 2013, to $198 billion by the year 2020.
Ongoing claims issues in NZ show quake isn’t always a short-tail risk
Private insurers and reinsurers have now paid out more than $18 billion to settle claims from the Canterbury earthquakes, according to the Insurance Council of New Zealand. Ongoing issues with claims shows how quake risk isn’t always a short-tail exposure.
PartnerRe adds Ogut & Srinivasan to Board of Directors
Reinsurer PartnerRe has announced that Bilge Ogut and Nikhil Srinivasan have been appointed to its Board of Directors. Ogut is Head of Private Equity in Europe at Partners Group, and Srinivasan undertakes several roles at Generali.
Endurance Global Risk Solutions launches new workers’ comp insurance product
Bermuda domiciled insurer and reinsurer Endurance Specialty Holdings has announced the launch of a new workers’ compensation insurance solution for its Global Risk Solutions clients.
IAG pushing for price rises in response to competitive pressures
Primary Australian insurer IAG has announced that it’s pushing for price increases, raising its commercial insurance product pricing, in response to competition from excess insurance and reinsurance capital.
ArgoGlobal names O’Gorman Head of Marine
Lloyd’s of London insurer ArgoGlobal recently announced the appointment of Steve O’Gorman as Head of Marine, effective August 22nd 2016.
Beazley increases environmental risk capacity to $50 million
Beazley has expanded its capacity for operational and fixed site environmental risks to $50 million. The increased coverage limits are backed by the Beazley Elements consortium of Lloyd’s insurers.
JLT Specialty USA names Shirley Griffith Bourke SVP
JLT Specialty USA has announced the appointment of Shirley Griffith Bourke as SVP, based in the firm’s Los Angeles office. She will have a focus on managing a number of film and television clients.
Artemis ILS Asia 2016 – post-conference report
Artemis has released its post-event report for its 2016 Artemis ILS Asia Conference that took place in Singapore during July. The report offers some insight into discussion held by speakers throughout the day.
Tech to transform Indian re/insurance sector: Report
A report from the Confederation of Indian Industry and Ernst and Young states that technology will transform how insurance business is conducted in India, and that cyber and data security exposures will create opportunities for reinsurers.
1347 Property provides preliminary estimate of cat losses from Louisiana storm
Losses sustained from recent storm activity in Louisiana, U.S., by 1347 Property Insurance Holdings, net of reinsurance, are not expected to exceed its $5 million single event retention limit, of its catastrophe reinsurance program.
Focus on enterprise risk management helping reinsurers navigate tough market: S&P
A recent report from ratings agency Standard & Poor’s (S&P) notes that reinsurers’ strong focus on enterprise risk management frameworks is assisting with their efforts to navigate challenging market conditions.
IRDAI keen for insurers to be able to outsource services
The Insurance Regulatory and Development Authority of India (IRDAI) has called for insurers to outsource services to individuals for certain activities.
Schroders lifts Blue Capital Global Reinsurance Fund stake to 16%+
Investment management group Schroders plc has increased its stake in reinsurance and ILS investment fund, the Blue Capital Global Reinsurance Fund, to beyond 16%.
Asian market and investors could benefit from increased flow of alt capital: LGT Capital Partners
LGT Capital Partners has said that it expects an increased flow of alternative reinsurance capital and its structures into the Asian market, underlining the benefits this can have for Asian investors.
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