Here’s your daily Reinsurance News for Wednesday 21st December 2016:
The U.S. Federal Emergency Management Agency (FEMA) has started its procurement process for a 2017 flood reinsurance program for the NFIP.
Insurance and reinsurance companies across Europe are expected to accelerate their plans for Brexit in the new year, as firms look to ensure continuity in operating models.
The London insurance and reinsurance marketplace is expected to see further, albeit reduced, price softening in 2017, according to analysts at PwC.
According to Vikram Sidhu, of Clyde & Co. in New York, uncertainty surrounding Donald Trump’s incoming Presidential administration could lead to a slowdown in U.S. M&A activity in the first-half of 2017.
Analysts at KBW have said that the January 1st reinsurance renewals are taking longer to come to market and close, which has led to a more delayed renewal than witnessed in recent years.
Changes brought about by a new Insurance Bill in South Africa suggests that reinsurers that operate in the country might need to restructure their operations and the way they access the marketplace.
Karen Clark & Company (KCC) has announced the launch of CATLAB™ Workshops, in an effort to support insurers that utilise “next gen” catastrophe modelling.
Low insurance penetration combined with a growing middle class suggests that Asia will become one of the biggest insurance markets in the new year, according to reinsurance giant Swiss Re.
Kroll Bond Rating Agency (KBRA) has released its outlook for the U.S. P/C industry in 2017, citing a continuation of market pressures for insurers and reinsurers.
A thoughtfully curated annual insurance-linked securities event in New York City from Artemis. Featuring ILS & reinsurance industry leaders speaking on forward-thinking, engaging topics.
Following the announced merger agreement between Allied World and Fairfax Financial, ratings agency A.M. Best has placed under review with negative implications the Financial Strength Ratings of Allied World.
China domiciled insurance company Zhongan Online P&C Insurance has reportedly decided against its plan to list in Hong Kong, and will instead look to list in mainland China.
Liberty Mutual Group recently disclosed that from September 30th 2016 through December 19th 2016 it repurchased $108,681,000 in principal of its 10.75% Series C Junior Subordinated Notes.
Figures released by Insurance Europe, the European insurance and reinsurance federation, claims that European insurers paid out roughly €2.7 billion a day in claims and benefits throughout 2015.
Singapore’s Ministry of Health (MOH) recently announced that it is looking for feedback from residents on improving and enhancing the insurance scheme ElderShield, which helps the disabled cope with financial demands of daily care.
Want to receive this news by email every morning? Just fill out the form below.