Here’s your daily Reinsurance News for Wednesday 17th August 2016:
Reinsurance faces the strongest headwinds: RBC
RBC Capital Markets has said that reinsurers still face the strongest headwinds within the global re/insurance industry, underlined by higher than expected combined ratios at the mid-year point.
Integro Re names Raj Gulati SVP
Integro Re, the reinsurance subsidiary of brokerage Integro Insurance Brokers, has announced the appointment of Raj Gulati as SVP, based in the firm’s New York office.
Fitch places Arch Capital’s IDR and Debt on negative watch after United Guaranty takeover
Following its acquisition of United Guaranty, which is expected to close in late 2016 or early 2017, Fitch Ratings has placed Arch Capital’s IDR and Debt on negative watch.
Neon names Gregg McPhee head of Political Violence
Gregg McPhee has been appointed to the newly created role of head of Political Violence at Neon, effective October 1st 2016, reporting to Darren Lednor, CUO at Neon.
B.C. & Munich Re working on fast response infrastructure insurance against quakes
The British Columbia (BC) region of Canada has identified a need to establish a rapid response insurance solution that protects infrastructure in the event of an earthquake.
AGCS names Eaton head of product recall for London
Allianz Global Corporate & Specialty (AGCS) has appointed Stewart Eaton as head of product recall for Regional Unit London, with a responsibility of driving new business in the region.
Foreign reinsurers unhappy with certain IRDAI guidelines
Global reinsurers are reportedly unhappy with guidelines posted by the Insurance Regulatory and Authority of India (IRDAI) last week, which includes the right of first refusal rule that applies to domestic reinsurers.
Sompo Canopius names Mark Newman CEO, Asia-Pacific & MENA
Sompo Canopius has announced the appointment of Mark Newman as CEO, Sompo Canopius Asia Pacific, Middle East and North Africa, based in the firm’s Singapore office.
Global life reinsurer sees the benefits of Workiva’s cloud-based platform
Provider of cloud-based productivity platform for enterprises, Workiva, has announced that a global life reinsurance company utilises its product to improve collaboration, control and transparency.
Nagoya and Guangzhou ports vulnerable to catastrophe events: RMS
Catastrophe risk modelling firm RMS has said that the Nagoya and Guangzhou ports are two of the riskiest ports in the world in terms of potential losses from catastrophe events.
India looks to improve landslide risk management
The National Disaster Management Authority of India has called a meeting to discuss the establishment of a national landslide risk management society, in order to better finance and protect against such events.
Swiss Re Global Cat Bond Index returns up in H1 2016
Reinsurance giant Swiss Re has revealed that the Swiss Re Global Cat Bond Total Return Index posted an annualised return of 5.77% during H1 2016, an increase of 1.56% on the same period last year.
Sapiens adds personalized video tech to insurance portfolio
Provider of software solutions to the global insurance and reinsurance industry, Sapiens, has enhanced its insurance portfolio with the addition of personalized video technology via a partnership with Idomoo.
Reinsurer Excalibur placed into liquidation
According to reports reinsurance company Excalibur has now been placed into liquidation, after being in run-off status since 2003.
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