Reinsurance News

Reinsurance News – Tuesday 28th March 2017

28th March 2017 - Author: Luke Gallin

Here’s your daily Reinsurance News for Tuesday 28th March 2017:

Cyclone Debbie catastrophe declared

The Insurance Council of Australia (ICA) has declared Cyclone Debbie a catastrophe, which made landfall as a Category 4 storm in northern Queensland, with the potential to drive billions in losses. Insurers and reinsurers had been preparing for the storm, and anticipating losses.

Time for reinsurance prices to stop falling and start rising: J.P. Morgan

J.P. Morgan has questioned if it’s time for reinsurance pricing to stop falling in light of Munich Re’s reduced profit guidance, the slowed entry of alternative capital and lower reserve releases.

Acappella Syndicate 2014 announces new reinsurance division leaders

Lloyd’s of London’s Acappella Syndicate 2014 recently announced the promotion of Jim Quinn and Matthew Bellamy, as Head of the Reinsurance Division and Head of Property Reinsurance, respectively.

French cedents reinsurance purchasing growth outpacing GPW: A.M. Best

Analysis from rating agency A.M. Best claims that French cedents are purchasing reinsurance cover at a faster rate than gross premiums written (GPW).

Suncorp expects to call on aggregate reinsurance for cyclone Debbie

Australian insurer Suncorp said yesterday that it had sufficient reinsurance protection in place to deal with the financial impact of Cyclone Debbie.

Reinsurance – still a largely relationship-driven business: Conning

In a highly competitive reinsurance market relationships remain a key component in navigating the softening marketplace, according to investment firm Conning.

2016 a testing period for longevity swap market: Aon Hewitt

Aon Hewitt has highlighted the challenging year for the market in longevity swaps in 2016, with pensions funds and reinsurers reacting to changes in mortality expectations.

One phase of London’s PPL launch brought forwards another delayed

A phase of the London market’s PPL electronic trading platform has been brought forward, although another has reportedly been delayed.

CNA Hardy, THB, Waterfall launch industrial cyber proposition

CNA Hardy, THB and Waterfall Security Solutions have teamed up to develop a global industrial cyber proposition, in an effort to improve available solutions.

Emerging MENA economies increasingly vulnerable to nat cats

Speakers at the 14th Carthage Rendezvous in Tunis recently highlighted how vulnerable MENA region economies are to natural catastrophe events, calling on support from the re/insurance industry.

Artemis ILS Asia 2017 – Building on ILS market connections to the region

Artemis has announced the date and release of early bird tickets for its 2017 ILS Asia conference, held in Singapore. ILS Asia 2017 will underline the importance of Asia to the ILS and catastrophe bond market.

City policyholders should bolster infrastructure resilience: Lloyd’s

Lloyd’s of London has urged cities to take a more comprehensive approach to building risk resilience, underlining how insurers could work to improve infrastructure management.

Risk Strategies Company acquires Terrell Insurance Services

Risk Strategies Company has announced the acquisition of Terrell Insurance Services Inc., added to its Dallas operation’s capabilities.

Gibraltar. An ILS positive for London post-Brexit?

ILS industry experts recently discussed the impact of Brexit on Gibraltar and London’s ILS ambitions, suggesting that Brexit could strengthen relationships between the two.

K2 Insurance acquires Star & Shield Insurance

K2 Insurance Services has announced the acquisition of Star & Shield Insurance, an affinity specialist.

Guinea Insurance plans to insure 80% of Nigerians by 2021

Godson Ugochukwu, the Chairman of Guinea Insurance Plc, has revealed a desire to insure 80% of Nigerians by the year 2021.

Italian insurers under pressure from political uncertainty and banking troubles: A.M. Best

Rating agency A.M. Best has highlighted the challenges faced by Italian insurers, with political uncertainty and banking troubles adding pressure to profitability.

UAE calls for insurer technical committee to study impact of VAT

The UAE Insurance Authority has called for the establishment of a technical committee by insurers, in order to look at the effects of VAT on their business.

Southeast Asia life market to record growth of 8% – 13% through 2020

According to research from the Boston Consulting Group, the Southeast Asia life market is expected to record an annual compound growth rate of around 8% – 13% through 2020.

A.M. Best affirms ratings of Blue Whale Re

Global rating agency A.M. Best has affirmed the Financial Strength Rating of A and the Long-Term Issuer Credit Rating of “a+” of Blue Whale Re Ltd., the firm recently announced.

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Cyclone Debbie catastrophe declared

The Insurance Council of Australia (ICA) has declared a catastrophe for severe tropical cyclone Debbie, which made landfall in northern...