Here’s your daily Reinsurance News for Wednesday 21st September 2016:
Hunt for profitable business to drive reinsurance M&A: A.M. Best
Ratings agency A.M. Best has warned that as reinsurers continue to hunt for profits and fight to remain relevant in a challenging market, this could drive further M&A in the sector.
Qatar Re’s growth makes it a top reinsurer across the MENA region
Qatar Re has seen its gross premiums double to a reported $1.16 billion, making it one of the top industry players across the Middle East and North Africa (MENA) region, says A.M. Best.
Despite falling returns equity investors unlikely to exit reinsurance: S&P
Despite returns being down in the global reinsurance market, equity investors are expected to remain in the space as it still offers attractive returns when compared to other industry sectors, according to S&P.
Pat Hennesy appointed SVP at JLT Specialty USA
JLT Specialty USA has announced the appointment of Pat Hennesy as SVP. Based in Houston, Hennesy will be responsible for the firm’s energy surety practice in the U.S.
Catastrophe bonds & ILS not a reinsurance disruptor: Dennis Kessler
The use and rise of alternative reinsurance structures such as catastrophe bonds and other forms of ILS in the global reinsurance space is not a disrupter, but supportive of the sector, according to SCOR’s Dennis Kessler.
Catalina Holdings grows net income in 2015
Catalina Holdings has reported its results for 2015 and also provided some information on its business model. During 2015 the firm reported solid growth, seeing its net income increase to $57.2 million.
PERILS in Australia enables new risk trading possibilities: Luzi Hitz, CEO
The CEO of PERILS AG, Luzi Hitz, has said that the company’s recent expansion into Australia enables new risk trading possibilities, and has been received well by the market.
IRDAI asks Universal Sompo General Insurance MD to step down
According to reports from the region, the Managing Director of Universal Sompo General Insurance, Taketoshi Nagaoka, has been asked to step down from the post by the Insurance Regulatory & Development Authority of India (IRDAI).
Unwillingness to pay “one of the big myths” of the ILS market: Craig Wenzel, XL Catlin
The Head of Alternative Capital at XL Catlin, Craig Wenzel, has described reports of the ILS markets unwillingness to pay as “one of the big myths” of the space.
CCR Re names Bo Werkstrom Senior Underwriter, Life Treaties, Maghreb & Middle East
The CCR Re, which is to begin operations in January 2017, has announced the appointment of Bo Werkstrom as Senior Underwriter, Life Treaties, Maghreb and the Middle East,
Swiss Re to build 2MW solar farm for U.S. business operations
Reinsurance giant Swiss Re has revealed plans to build a 2MW solar farm at its headquarters in North America, to generate clean electricity for its U.S. business operations.
Liberty Mutual Insurance unveils two new excess casualty offerings
Liberty Mutual Insurance has introduced two new excess casualty offerings to its clients, aimed to help large companies and the broker community.
Africa’s ZEP-Re launches Academy to train insurers on reinsurance
ZEP-Re has established an academy that is designed to train local and regional insurance executives on reinsurance, called the ZEP-Re Academy, the first of its kind in Africa.
Risk Strategies Company acquires Kahn-Carlin Insurance
Risk Strategies Company has announced the acquisition of Kahn-Carlin Insurance, which greatly expands its presence in Florida just three months after entering the state.
Adverse economic situation sees Zimbabwe insurers rely on foreign markets
As economic conditions continue to deteriorate in the region, it’s been reported that insurers in Zimbabwe are relying on foreign markets for survival.
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