Here’s your daily Reinsurance News for Tuesday 4th April 2017:
Reinsurance broker Willis Re has highlighted further reinsurance rate declines at the April renewals, warning of further pressure throughout the year.
Insurers have now reported AU$306 million (US$235m) of claims due to damage from tropical cyclone Debbie.
French global reinsurer SCOR has received approval to establish a Japanese branch office for life and health reinsurance operations.
Interesting developments and movements are starting to take place in the global reinsurance market, but softening is expected to persist in the coming months, warns Lancashire.
Analysis from rating agency Fitch claims that demand for reinsurance in Japan is set to expand and is expected to be ceded to international reinsurance markets.
Greenlight Re Ireland recently announced the appointment of Sean Rocks as consultant. Rocks was formerly Chief Commercial Underwriting Officer of Liberty Specialty Markets.
Following the launch of its Zurich subsidiary, reinsurer Peak Re has highlighted the importance of gaining Solvency II equivalency.
RMS has announced the appointment of Colin Kerley as new senior vice president of the firm’s platform solutions.
Global Parametrics has secured the rest of its funding with a £7.9 million investment from the UK Government’s Department for International Development (DFID).
AXIS Insurance has announced the appointment of Rhonda Lohmar Vice President (VP), U.S. Programs, AXIS Insurance Property & Casualty.
PERILS AG has released its updated 2017 PERILS Industry Exposure Database (IED), which reveals European windstorm as the biggest exposure.
Helios Underwriting plc has announced the appointment of Charmac Underwriting Limited for a consideration of £2.24 million in cash.
Gov. Mark Dayton has said that he will not veto the $542 million proposed reinsurance programme that aims to reduce health insurance costs in Minnesota.
Data from the Artemis Deal Directory reveals that Q1 2017 saw more than $2.76 billion of cat bond deals come to market, breaking the previous record for the quarter.
HSBC Insurance has received approval to become a Tier-1 insurer in Singapore, according to reports from the region.
Bermuda domiciled Horseshoe Group has joined the Bermuda Stock Exchange (BSX) as a listing sponsor.
People’s Insurance Group of China has named Miao Jianmin to be its future Chairman and President, according to reports from the region.
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