Here’s your daily Reinsurance News for Wednesday 15th March 2017:
Conservative guidance given as Munich Re sets itself up for ongoing softness
Reinsurance giant Munich Re has announced a conservative profit guidance for 2017, targeting a range of between €2 billion to €2.4 billion, in response to the softening marketplace.
Demand up but reinsurance price declines to continue, as floor elusive
Demand for reinsurance cover increased at the key January 1st 2017 renewals season but a pricing floor remains elusive, with some in the market predicting steady, but continued reinsurance price declines at upcoming renewals.
Tax reforms not expected to result in onshore reinsurance moves (yet)
Analysts at Credit Suisse have said that expected tax reforms that could affect the offshore reinsurance sector doesn’t mean a wave of reinsurers will be looking to set up shop in the U.S.
China ramps up regulation for offshore reinsurers
China has launched an offshore reinsurance credit risk deposit scheme, that requires offshore reinsurance companies to hold credit with a domestic firm to protect against high offshore credit risk.
Lloyd’s backs liability catastrophe risk modelling methodology
Lloyd’s and Arium have collaborated to develop an innovative methodology that enables re/insurers to model liability exposures across entire portfolios.
Blockchain: Why re/insurers need to take control of their future
Tom Johansmeyer of PCS recently spoke with reinsurancene.ws to discuss the need for insurers and reinsurers to embrace and engage with the international blockchain community.
Flattening U.S. commercial rates could pressure reinsurance
A new report on the commercial insurance sector in the last quarter of 2016, reveals that the flattening of U.S. commercial rates could further pressure reinsurance.
KaylaRe float gets off to flying start thanks to Enstar & StarStone
Total return reinsurance vehicle KaylaRe Ltd already had $350 million of investments in a fund managed by Hillshouse at the end of 2016, thanks to reinsurance transactions with Enstar subsidiaries.
AGCS promotes Donavan to Global Head of Cyber
Allianz Global Corporate & Specialty (AGCS) recently announced the promotion of Emy R. Donavan to Global Head of Cyber, effective March 31st, 2017.
2016 insurance premium growth areas highlight need for reinsurance
Global insurance premiums increased by 4.4% in 2016 driven largely by continued growth of the Chinese marketplace, but also other peril regions around the globe.
NAICOM urged to level playing field for Nigerian reinsurers
The National Insurance Commission (NAICOM) has been urged to level the playing field for reinsurers in Nigeria, with experts claiming that Africa Re has an unfair dominance.
Philippines to chair APEC Disaster Risk & Insurance strategy
Philippines Finance Secretary Carlos G. Dominguez III has reportedly accepted Peru’s offer to act as chairman of the Asia-Pacific Economic Cooperation’s (APEC) Disaster Risk Finance and Insurance strategy (DRFI).
Directors at AIG concerned about Hancock’s ability to improve firm: Reports
According to industry reports some Directors at AIG were concerned about the CEO’s ability to keep improving the firm, following his recently announced retirement.
One in five Australian SMEs a cyber attack target
Cybersecurity firm Norton has said that one in five Australian small and medium enterprises have been the target of a cyber attack, underlining the need for more adequate and effective solutions.
LV= & Royal London reportedly in merger talks
According to industry reports insurer LV= and fellow mutual Royal London have met to discuss a potential merger in response to lower profitability.
Qatar Re expands licence for Match software solution
Reinsurer Qatar Re has expanded its licence for Match, a document analysis product from insurance and reinsurance industry software provider, Adsensa.
AIA a challenge for new CEO, Ng Keng Hooi
Shares in AIA declined by 3% after the firm announced that Mark Tucker was to leave the company for HSBC, suggesting a challenge for incoming CEO Ng Keng Hooi.
Angbang Insurance says it hasn’t invested in Kushner Tower
Following reports across the industry Anbang Insurance Group has said that it hasn’t invested in a Manhattan office tower owned by the family of Donald Trump’s son-in-law.
Singapore insurance sector records minimal growth in 2016
The general insurance industry in Singapore reported just 0.6% growth in 2016, as underwriting profit declined, according to the General Insurance Association (GIA).
MetLife and Crystal & Co. partner on disability coverage for high-paid workers
U.S. life insurer MetLife is partnering with brokerage Crystal & Co. to offer disability coverage for high-paid workers at financial companies.
Want to receive this news by email every morning? Just fill out the form below.
