Here’s your daily Reinsurance News for Wednesday 28th September 2016:
E&S market to come under pressure, as reinsurers hunt returns: Fitch
Fitch Ratings has warned that the U.S. excess and surplus (E&S) insurance market could come under increasing pressure, as reinsurers look to enter the space in an effort to offset falling rates in other areas of reinsurance.
At least 25 local reinsurers looking to enter the Chinese market: CIRC
The CIRC, the Chinese insurance regulator, has revealed that at least 25 local reinsurers are looking to establish a presence in China. Currently the region has just three reinsurance companies.
Sompo Japan trials blockchain for catastrophe & weather derivatives
Sompo Japan Nipponkoa Holdings Inc. is the latest firm to embrace the use of blockchain technology for risk transfer, as it trials the tech for catastrophe and weather-linked derivative transactions.
U.S. & EU make progress on bilateral reinsurance agreement
According to reports, progress was made surrounding a bilateral agreement on insurance and reinsurance measures between the U.S. and the EU, during recent talks.
PIB Insurance Brokers now registered at Lloyd’s
PIB Insurance Brokers, which was founded in 2014, is now registered as a Lloyd’s of London broker, enabling the firm to access the Lloyd’s underwriting marketplace.
Alternative capital “an innovative force within insurance” – Aon
Despite the flood of alternative reinsurance capital adding pressures to the global reinsurance market in recent times, Aon has highlighted that it’s also been an innovative force within the industry.
JLT adds Lucy Clarke to group executive committee
Insurance and reinsurance broker JLT has announced that Lucy Clarke, CEO of JLT Specialty Ltd., has been appointed the firm’s group executive committee.
No sign increasingly disciplined pool of alt capital will shrink: Peel Hunt
Peel Hunt has said that there is no sign of the pool of alternative reinsurance capital shrinking, despite a recent slowdown in the growth of the convergence space in recent times.
Tokio Millennium Re shows support for Dive In Festival
Bermuda domiciled Tokio Millennium Re has expressed its support for the 2nd Dive In Festival, which promotes diversity and inclusion in the workplace.
R&Q Insurance to provide SIMIA with loss portfolio reinsurance cover
R&Q Insurance (Malta) has entered into an agreement with The Solicitors Indemnity Mutual Insurance Association Limited (SIMIA), that will see R&Q provide loss portfolio reinsurance protection for all previously underwritten insurance contracts.
AGCS appoints Rebecca Stewart as a Key Accounts Manager, UK
Allianz Global Corporate & Specialty (AGCS) has announced the appointment of Rebecca Stewart as a Key Account Manager in the UK, with a focus on sales, business development and customer relations.
Boat Services signs catastrophe model agreement with Lloyd’s and ten managing agents
Swedish exchange and clearing tech provider, Boat Services, has signed an agreement with Lloyd’s and ten managing agents to offer access to cat models via the Oasis Loss Modelling Framework.
Report explores protecting against induced earthquakes
A recent report has highlighted the growing threat of induced earthquakes in the U.S. and elsewhere, underlining the need for increased insurance protection against such events.
The GA and NTU to partner on cyber insurance risk research
The Geneva Association (GA) and the Nanyang Technological University (NTU) in Singapore, are to partner in order to research cyber insurance risks.
Former AIG exec testifies in fraud case
Former CEO of AIG, Maurice Greenberg, has testified at the State Supreme Court in Manhattan in relation to the state civil accounting fraud trial against him.
Bermuda’s desire to expand across Latam could put execs at risk of kidnapping: Expert
An expert has advised that as Bermudian businesses look to expand their presence across Latin America, they could be putting visiting business executives in danger of being kidnapped.
Want to receive this news by email every morning? Just fill out the form below.
