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Reinsurance News – Wednesday 23rd November 2016

23rd November 2016 - Author: Luke Gallin

Here’s your daily Reinsurance News for Wednesday 23rd November 2016:

Re/insurance headwinds to persist, but growth expected in 2017: Swiss Re

Headwinds in the global insurance and reinsurance industry are expected to persist in 2017, but growth in both emerging and advanced markets is also expected, according to reinsurance giant Swiss Re.

Munich Re looking at Iranian market

According to reports, reinsurer Munich Re is eager to provide insurance solutions to the Iranian marketplace, and also work with the Central Insurance of Iran around training programmes.

Significant damage not expected from Japanese earthquake: RMS

Risk modeller RMS has said that the earthquake that struck off the coast of Japan recently, is not expected to result in any significant damage.

Stuart Davies steps down as CEO at Sompo Canopius

Sompo Canopius AG has announced that Group CEO Stuart Davies is to leave his position, effective immediately. founder and currently Non-Executive Chairman of Sompo Canopius, Michael Watson, will become Executive Chairman.

Hurricane Otto heads for Nicaragua & Costa Rica

The fifteenth named storm and seventh hurricane of the 2016 Atlantic storm season, Hurricane Otto, formed in the Caribbean this week and has intensified into a category 1 storm as it heads for a landfall near the Nicaragua and Costa Rica border.

BMA hosts discussion with NAIC

The Bermuda Monetary Authority (BMA) recently held talks with the National Association of Insurance Regulators (NAIC) regarding its bilateral agreement.

Blockchain needs standards in reinsurance: Swiss Re

Reinsurance giant Swiss Re has said that key market players are more than aware that standards are required in blockchain related technology initiatives, underlining the Blockchain Insurance Industry Initiative (B3i).

BSX and CISE sign MoU

The Bermuda Stock Exchange (BSX) and the Channel Islands Securities Exchange (CISE) have signed a MoU to look at opportunities of working together in the future.

Re/insurers continue disciplined response to market conditions

Insurers and reinsurers continue to show discipline in the challenging, softening marketplace, walking away from business that is simply priced too low.

Vincent Branc named CEO of XL Catlin’s Accelerate team

XL Catlin has announced the appointment of Vincent Branc as CEO of Accelerate, the firm’s new division focused on innovation and InsurTech.

‘Silent’ cyber loss a growing threat that requires attention: PRA

In a recent report, the Prudential Regulation Authority (PRA) has explored the difficulties and complexities surrounding cyber attacks, and the re/insurance industry’s ability to protect against ‘silent’ cyber threats.

PARIMA expands to Australia

It’s been reported that the Pan-Asia Risk and Insurance Management Association (PARIMA) has expanded its reach into Australia, with a new agreement with the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

Monte Carlo Rendezvous Executive Roundtable 2016

Participants discussed areas where ILS could play a greater role and explored potential features of the space that could facilitate increased influence across the risk transfer world, including weather risk, cyber, and terror.

IRDAI keen to provide simpler solutions across the region

India’s insurance industry regulator, the Insurance Regulatory and Development Authority of India (IRDAI), is looking to promote the use of simpler, point-of-sales (PoS) solutions so that poorer people in rural areas can access insurance.

Charles Taylor to buy closed book of life assurances from Zurich & Allied Dunbar

Charles Taylor has agreed to acquire a closed book of international life assurance business from Zurich and Allied Dunbar International Fund Managers Limited.

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Reinsurance News – Tuesday 22nd November 2016

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