Here’s your daily Reinsurance News for Tuesday 4th April 2017:
Rate reductions continue at April reinsurance renewal: Willis Re
Reinsurance broker Willis Re has highlighted further reinsurance rate declines at the April renewals, warning of further pressure throughout the year.
Tropical cyclone Debbie claims hit $306m
Insurers have now reported AU$306 million (US$235m) of claims due to damage from tropical cyclone Debbie.
SCOR approved to open Japanese life & health reinsurance branch
French global reinsurer SCOR has received approval to establish a Japanese branch office for life and health reinsurance operations.
Reinsurance market is “creaking” as softening persists: Lancashire CEO
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.
Demand for reinsurance in Japan set for growth: Fitch Ratings
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 appoints Sean Rocks as consultant
Greenlight Re Ireland recently announced the appointment of Sean Rocks as consultant. Rocks was formerly Chief Commercial Underwriting Officer of Liberty Specialty Markets.
Solvency II equivalency a “key asset” for Peak Re
Following the launch of its Zurich subsidiary, reinsurer Peak Re has highlighted the importance of gaining Solvency II equivalency.
Colin Kerley joins RMS as new senior vice president from AXIS
RMS has announced the appointment of Colin Kerley as new senior vice president of the firm’s platform solutions.
Global Parametrics adds UK Government funding from DFID
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 names Rhonda Lohmar VP, U.S. Programs, P&C
AXIS Insurance has announced the appointment of Rhonda Lohmar Vice President (VP), U.S. Programs, AXIS Insurance Property & Casualty.
PERILS releases 2017 update to Industry Exposure Database
PERILS AG has released its updated 2017 PERILS Industry Exposure Database (IED), which reveals European windstorm as the biggest exposure.
Helios to acquire Charmac Underwriting
Helios Underwriting plc has announced the appointment of Charmac Underwriting Limited for a consideration of £2.24 million in cash.
Dayton will not veto health reinsurance programme
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.
Record $2.76bn of cat bonds in Q1 2017, market hits new high – Artemis reports
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 gets Tier-1 status in Singapore
HSBC Insurance has received approval to become a Tier-1 insurer in Singapore, according to reports from the region.
Horseshoe joins BSX as listing sponsor
Bermuda domiciled Horseshoe Group has joined the Bermuda Stock Exchange (BSX) as a listing sponsor.
People’s Insurance Group of China names future Chairman & President
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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